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Home My WebLink About2405 . r r- ~ PROVIDED. ALWAYS, thet it the Mortgagor shall pay unto the Mortgegee the indebtednesa evide~ced by a certain promiasory note of which the following in worde and fig~ures i~ a true copy tawit: 00 F~~~ December 1 ~~_73 f 1, 650 . e. Flonda ~ , Fo~~~?~u~6~E~D WE. iointly and severally, p~omise tu pay to the order of the principal wm of ONE THOUSAND SIX HUNDRED F FTY act no 1 pOI,L4RS, togethe~ with interra! thereon ~tom date at the rate of ten percent, pet ~nnum until m~tutity, both principal and iMercst beinR p~yable in law(u) money uf the United 5tates ~t 2244 Biac~rne Blvd., Miami, Flotid~, or at wch other place u lhe holdets heroof may desi6n~te in wntin6. Principal and intere~t pay~ble in in~tallments ~ idlowa: FORTY ($40.00) DOLLARS per month beginning on the 15th day of February, 1974, and continuing on the lSth day of each and every month thereafter until paid in full. i ~ - ; TAis note may be prepaid m whole ot in part a[tet one year from the date hereof upon payment of a penalty equivalent } to f~ve percent of the p~~nc~pal sum prepa~d. Each in,tallment parment shall be crcdited first on the intereat due, and the remainder on principal; and interr~t ~hall th~tc- upon cease upun the principal so credited. The m~kers snd ~ndoners of this note tutther a;ree to waivc demand, notic~ o( non-p~yment and pwtest, and in thr ~vent auit ,lull be brought (or the collcetion hereof, or the aame haa to be collected upon dem~nd ot an attorney. to pay reuonable attorney's (rr. [or making auch collection. Detened parmenta hereunder ahall bear interest at the'rate o( ten percent pcr annum Iwm maturity unti) paid. 7'hi~ not~ u acuttd by a mortp6e of even datt herewith and is to be construed and enforced aecordin6 to the laws of the ; ~tate ot Florida; upon default in the payment of principal a~d(o~ intereat when due, the whole eum of principal and interost rrmaining unpaid shatl, at the option of the holdc~s, 6ecotne immed'utely due'•and paya e. , ~ r i s ~ EAL) , SI ~~r7`~, 4=ti J.c~~,c~'-~'T~~~~_ (SEAL) and shall perform, compty with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and of this deed, then this deed and the estate thereby created shall cease and be null and void. { ~ 1. The Mortgagor hereby covenants and agrees: ~ Ia1 To psy all rwd singu4r the prindpal end intereat md otha ~um~ of money payaNe by virtue ot ~aid promissory• note and thia deed. or either. pmmpdy on the daye respectively the sscce aeveraUy beoomes due. ~ 1 b1 To pemtit. commit or euffer no waste snd to maintain the improve~rrnts at all times in ~ atate of good repair and condition, snd to do or permit to be ~ doce to said premises nothing that will alter or change tAe use and chu~cter of eaid pmperty w in any way impair or wraken the security ot this mortgage. And in cax ot the refusal, neglect or inabiliey o( the Mortgagor to repeir and munuin said properiy. the ~tortgagee ma~, at his option, make ~ such repairo or uwe the same to be made, and adeance moneye in that behalf. ~ Ic) To psy all ~nd singul~r the ta:es, assessments, levies. liabilitiea, and obligations oE every nature on said dexribed property ~ch and every w•hen due ~ and pnyaWe sccording w law, before they beoome delioquenc, a~ to deliva to the Mortgagee on or before :1S~rch lSth of each year tu receipte evidencing the p~yment of aU tswfully impoeed tazes for the preoeding ulendar yesr: to idemoify the MortgaRee upon h~ demand for all tues, asaesa- ~ ments and charge~ that u~ay be asxs.~ed upon ttu~ mortg~ge oo tlie iodebtedrnss ~eeured hereby, and paid by the morgagee, withodt ~egud to any law heretofore enacted or haraRer to be enacted impo~ing payment of the wlwle or any part thereof u~oa tde Mortgagee. Idl To p~y all u~d singular the costs. charges u~d ezpen+es. including 4wryers' teee aad ~b~trsct oosts ressonsbly in~vrred or paid at ~ny time by the ~ ,x, :~tortgagee bec~use of the [silure on the part of the Mortpgor to pertarm, oomply w~i:h and ebide by esch and evrry the ~tipulations, agreecnents. ~ rnnditiau and rnvenanta of xid promissory note and thia deed. or either, and eveey such psyment ehal; bear iaterest from dace at the rate of ten 1 IO°~o 1 ~ pe~ centum per annum Ie1 it is turther covenented and aRrecd by seid parties that in the e~•ent of a suit being in~tiwted to forecbse Lhiu mortgage, the Atortgagee shall be ~ entitled to apply st any time pending such toreclosure ~uit w the eourt hsving jurisdiction thereot for the appointment of a reoeiva of aU and singular the ~BnB~ P~~Y. and of ell rmts. inoocne~. Profits. iseues and rev~ues thaeof. from whataoever aouroe de~ived: and thaeupon it ie hereby uprea+ly ~ coverunted u~d agreed thet the Court shall forth~vith appoint such reoeiver writh the usual powere and dutiea of reoavers in like cases; and aaid ~ppoint- mmt shall be cmde by the court ~s ~ matter of strid rigAt w the Matgagee. and wit6out roterare to the adeqi~cy or inadequacy of the v~lue of the pro ~ perty hereby mortgaged. or to t6e solvpncy or inaol~•e~y of the ~iortgagora or any other party defendant to sue6 suit. 'ihe :1lortgagor bereby specif- ~ iuUy w aive~ t6e right w object w the appointment ot a receiver as s(orwid and heteby ezp~eaely oonsrnts that such appointment ehall be m~de aa ~n ~ admiued equity and as a matcer of ab~olute right to the Mortgagee and that t6e aam map be done without notice W the !1lortgagor. ~ ~~3 i(1 It toreclosure prot~eudings should be instituted against the property cove~ed by this mortgage upon any othet iien or claim whether alkqed to be superior or junior to the lien ot thi~ mortgage. the \tortgagee may at his option immediately upon institution of such suit or during the pendency thereof declere this mortgage and the indebtednesa secured hereby due and payable forth~vitt. and mey ~t ita option proceed to toreclose thia nwrtg~e. r;~ - 1 gl Thst the 4fortgagor w ill keep a(1 real and persQnd property no~v or hereaRer encvmbered by the lien of this mortgige inaued ~s m~y be required from time to time by the btortgagee sgain~. bas by fire, windstorm end other hazard~, casuattses snd contingencies for such periods ~nd (w not less ttun such amounts ss may be required by the !ltortgagee and to pay promptly whm due all premiums (or sucA insurance. 71~e emount~ of inswanoe ~equued ?_a~: b~ the ~torgagee shall be the minimum emounts for which said insurance shsll be written and it shall be incumbent upon the Jtortgagor to maintain auch additiom! insurence as may be neceswy to rneet and rnmply fnlly with dl co-insuraexe requ'vementa oontained in said poliei~ to the end that the said Mortpgor ie oot a rninsuror thereunder. Insurance shall be w~itten by a cocopany or oompanies approved or designated by the Mortgagee and all pdi- `:r; cies and reneWais thereof ehall be held by the Atortgagee. All deteiled deaignations by the :?tortgagor which are eccepted by the Mortgagee ~nd all a~ee ments between \lortgsgor and ~lortgagee relating to uuurance. now e:isting or hereaher made, ahall be in writing and shell be a psrt of this roortgage agreement u fully as though set forch verbaiim herein and shall govern both parties hereW ~nd thar eucceseora and asaigne. :~o liea upoa snY ot said , poGcies of iR+urance or upon any refund or return premium whieh rn~p be peyable on tl?e canceLetion or termination tF~ereof, shall be givm to other than ~ ~.he \tortgagae, e:cept by proper endorsement affi:ed to such pofity and approved by Nortgegce. Eac6 policy ot iraur~nce shall heve affised thereto a Standud 1ew York Mortgagee Clsuse without Contribution, msking ~U lose or loeeea under wch policy payabk to the Mortgagee aa its interest cn~y pesr. In the event eny sum or ~ume ot money beoome p~yable thefeunder the Mwtgagee ahall have t6e option to reodve end ~pply tbe eame on ~caount of the indebtedness herrby secured. or to permit the Nortgagor to receive and we it. or ~ny part thaeof. writhont thercby weiving w unpairing ~ny equi- ti, l~en, or right under aod by ~irtue of this moRgage. tn event of loea or physical damage to the mortg~ged property the Mortgagor ahall give imr~diate :a~ ~ . eooR221 P~6E2405 ~ - ~r :~4 . - - - _