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Home My WebLink About2855 PROVIDED, ALWAYS, that if the Mortgagor shall pay unto the Mortgagee the indebtedness evidsnoed by a certain promissory note of which the following in words and figures is a true copy to•wit: ~ , ~'JICo~r~~a~gc 7~'ot~ ~ 1 i ~ 12 , 000 ._00 _ - Miami, 11pri 1 6 ~ Florid~---_-- - ~~~---74 ~ , J. PAi RICK BEACOM and EMI LY_PEED BEACOM, hl S roini-.~r ~u a~ Fl)K ~:1LUE: KECF:IYF:U------- - P P ' t~~ the urder of ____METROPOLI TAN MORTGAGE COMPANY ~ TWELVE THOUSAND AND NO/100_ ($12 ~ 000 . 001__ [~I.LAIt.~, to rthrr with u~trr~~•t the pnnripal sum u( ~ , thrreuo fturn datr at the ratr of ten percenl, per annum until matunty, buth principal and interest being payable in law(ul munry uf : E thr l~nited ~tatr~ a1 224-1 R~+ca~r?r Bl~d., ~liami, Ftorida, ur at such other place as~t~ie hulders hereot may designate in wriUnK. ~ ~ f'nncipal and interrst pa}'abl~ in imtallmenls as folluws: ~ ` ~ FOUR HUNDRED ($400.00) DOLLARS per month, beginning on the 15th day of :iay, 1974, and continuing on the 15th day of each and every month there- ° after until paid in full t Th~s note may be prepa~d ?n ~hole or in part after one year from the date hereof upon payment of a penalty equivatent - t.~ five peccent of the pnncipal sum prepaid. ~ F:arh in•tallmrnt F~~~~nrnt shall br cn•diU•d fir>t on th~• interr~t duc, and thr re~nainder un principal; and interest shall tli~•rr ' upun reasr upun thc prin~•~pal ~u crrd~tcd. ~ The n~akrn anJ i•ndur.rr of th~~ n~?t~• fu~thrr aKn•e tu waivr demand, nuticr uf non•4~ayment and protest, and in thc rvr.nt ~u~t ? ~haU hN brought fur tl~r ~•ollcctiun hf•r~•uf, ur thr wmr has to ?~e cullcctrd upon demand ut an attorney, tu pay rcasonablF atturne~ fr~•. fu~ making wch ~-ollectiun. Ueferred pa~•ment~ hercundrr shal) bear interrst at thc rate of ten percent per annam from maturity until paid. ~ This notr i: ~ecured by a mnrtgaKe uf even date hPrewith and is to br cona ed and en[orced acc m~ to the laws ~?f the ~tat~ of Fl~rida; upon d~faull in th~ payment of prinripal and,~ interast when u~, the w~ le su ~f rincipal and int~r~st I ~~•rna~ning unpaid ~ha11, at th~ option of the holdets, become im ediat ~due . ~ i ~ ~ / q e ' 1 - - ~-L- ~ ' ~ # _ ~ t' , ~k: _L ~I~ / (C~E.'-f-Y~~ (~EA t Prepar~d by ~pieler & Tendrich, Altorneys 2240 Bix,ayne Wrd.. ~liami, F cxida ~ 4 and shall perform, comply with and abide by each and every the stipulations. agreements, conditions and covenaats of seid 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: ` lal To p~y all end eingular the pri~apal and intereat and other sum~ of money payeWe by virtue ot ssid promissory• note and this 3eed, or either. PromPdy on the days respectively the same eeverelly beooroea due. { 1 bl To permit, commit or suffer no rraste snd w maintain the imp~vements et aU times in a state of good repair and rnndition, and to do o~ permit W be f done to said premix~ nothing that ~vill alter or ctunge the uae and character of said property or in aay way impair w w~eaken che aecurity of this mortgaga And in caae of the refueal. aegkct or inability of che :liortgagor to repair ~nd maintun said property, the Atortgagee may. et hie option, make ~uch rep~iro or cauee the ~me to be msde, and advance moneye in thst behali. 's ~ Ic1 To pay ~11 and aingular t6e ta:e~, ss~essmente, kvie~, liabifities, and obligations ot every nature on seid described pfopvty each end every when due ~ and psyable according to lew, before they become delinqumt. sod to deliver to the Mongagee on or befare ~larch ISth of esch year tu receipts e~idencing tLe psgment ot dl lswtully impo~ed tues for the preceding cslendar ye~r: to idcmnify the Mortgagee upon hi+ de~nand tor all taus, ~seeer ~ ments and clarges that mey be a~ea.~ed upon this mortgage on tbe indebted~as secured hereby. and paid by the morgagee. ~richout regud to any law ~ f~ewfoce enacted or haeafter w be enacted imposing payment of the wMle or any part then.wf upon the Mortgagee. ~ ~ Id1 To p~y all and ~ingutar the costa, charge~ and e=penses. including Lwyer~ teee and ~bstract oosts ressowbly incvrred or paid at any time by ths ~ Mortg~gee because of the failun m t6e part of the Mortg~gor to pertorm. oomply with and ebide by e~ch and every t6e stipulstiom, a~eaneate. rnnd"etiona and rnvenants ot asid promi~ory ~te and this deed, or eitna, and every auch paya~ent shall bear intere~t from date at t6e rate of ta? I lO~fEE 1 ~ per ceatum per annum. lel It is further co~~ensnted and agreed by said parties that in the e~•ent of a suit being iretituted w foreclose this mortgag~e, the htortgagee shall be ~ entitled to apply st sny tune pending such foreclosure auit w the court heving juriediction thereof [or the appointment of s receiver of aU and ~ingu4r the ~ ~ ~6a6~ P~~rtY• snd of all reats. incomes. profits. issuea and revesues thereof. from ~vdatsoever souroe drrived: and thaeupon it is bereby uprwlY ~ covenanted and agreed that the Court ahall torthwith appoint sucA ceaeiver with the uwal po~vaa and duties of recdvecs in like caaes: ~nd said appoint- ment aheU be m~de by the court as a matte~ of striet rig6t to the Martgagee, and writhout ref~m w the adequ~cy ar inadequ~ey of the wlus of t6e pro- P~*LY ~Y ~B~6~. or w the so}vmcy or insolveacy of tUe \lortgagon or any othu p~rty dsfeodant w s~xh wit. The Mortg~gor 6eteby spscif- , icaUy .raives tbs right w objea w the appoinement of ~ reoaver es a[area~id ~nd I~ereby ezp~ly ooasenu tiut sucD appointmant ahall bs made a~ ~n i " edmitted equity and ~s a matcer of abeolute righc to the Mortgegee and tlut the same may be done without noiice w the Mortgagor. ~ ~ I(1 If forecbwre proceedinge should be instituted againat the property coveeed by th~a mortgage upon any otha liea or cLim ~vhetlur alleged W be superior or junior to the lien of this mort~ge, the :lfortgagee may at hia option iinmed'utdy upon in~tit~#ion of such wit or during tbe pendency thereof i declere this mortgage snd the indebtednese secured h~eby due and paysbk forthw~th end may at its option proceed to forecloae thie mortgaga i - 1 g i That the Mortgagor aill Iceep all real and penanel property now or haeatter encvmbered by the lien of thi~ mortgage inwred u m~y be required from - time to time by the ~tortgagee against baa by fire. windacorm and other hu~rd+. wualtie~ and contingencies ta sueh periads and for not less t}~n ~ such amounts se msy be required by the Mortgagee and W pey promptly w~hex~ due all p~emium~ for sucA iasunnce.ll?e ~a?ounte of insuranoe requiied by the ~torgagee shaU be the minimum emount~ for ~vhich said imurance shnU be w~ritten end it shsll be incumbent upon t6e Morigagor to m~intain suth sdditioml uuurerce as may be neoes~ary to meet and comply tuliy with all oo-iniurance rcquiranents oontained in s~id pdides to the end th~t the aaid Atortgagor is not s co-insuror thereunder. lasurance shall be written by s company or oompanies approved or designated by t6e Mortgagee and dl pdi- cies nnd reaeRals thereo[ shall be Meid by the Mortgagee. All detailed designatioas by the Atortgagor which ue ~toepted by the Mortgagee and all agreo- ments be~aeen \tortgagor and Mortgegee relating W insu: ance. now ezisting or hereaft~ made. shall be in writing ~nd shall be a part of this mortgage agreement se fully as thoug6 set torth verbatim herein and shall go~~em both parties hereW and theu sucoessoro and waigns. No lien upon aoy of a~id policies of insunnce or upon eny refund or returo premium which msy be psyable on the cancellation or termiaation t6ereof, s6~11 be given to other tlLn the ~fortgegee. ezcept by proper endorsement affi:ed to such poGcy and appro~red by ~tortgagee. E~c6 policy ot in~urenoe s1u11 A~ve af5zed tbereto • Stand~rd Ne~v York Mortgagee Clause without Contribution, making aU losa or losxa under such poGcy p~Y~bfe to the Mortg~gee as its interest may ~p~ s;,= pear. In the event any ~um or ~ums ut money become paysbk thereunder the Afortgegee ~hall heve the option to retdve ~nd apply the same on ~coount _ of the indet?tedcesg hereby xrured, or to permit the Mort~agor to receive and use it, or any pert theceof, ~without thenby wuving w imp~iring any equi- - ti, lien, or right under and by virtue of thu mortgage. In event of loea or physical dunage w the mortgaged property the Mort~got sh~ll ~ve imrnediate ~J - Bo~K . R 226 ~~~E2853 ~ ~ ~ ~ _ : ; ...e...~._ _