HomeMy WebLinkAbout1446 ~86440~. 1t ~tl O~ t~ a g e , ~7011~bionl~venu~ .
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Tti1S MURTCACE II~UENTUHE, rxecuted by the Mortg~gor named in paragrYph 26 below, which term as used
in every instance shall ioclude thr i~tortgagoi s I~eirs, exccutors, administrato~s, suc~rss~xs, legal rep~esentativrs and
assig~s, either voluntary by ac~t ~~f tl~e part~rs o~ inv~~luntary hy ope~ation of Iaw a~d shall denote the sing?~hr anJ/o~
plural, a~d the masculine and/w feminine and natural and/or artificial ~ersons, whPneve~ and wherever the contrat su
re~uires or admits, parties of thr ~irst part, tu ~YA51~lNCTON FEDERAI. SAVINCS ANU TAAN ASS(~IATION
OF I?lIAMI BEACII, a c~r~wratio~ exist~ng unclrr 1hr laws af the United States of Amrrira. I~ereinafter called the
~lortgagec, which term as nsed in every instaniti• shall include the. i~tortgagee's sucressors, Iegal representrtivc~s and
assigns, party of the second pa~t. -
N'ITNESSETN, that for div~•rs gcxxl and valuahle• ~y~nsidr~atiuns, aod to srcure thr p:?yment of the ap~rcgate sum
o( money named io the promissory note of ~~ven Jate hrrev?~ith, hereinatter me~nticu~cYl, toRether with interest thereon aod
al) other sums af money serure~l i~rreby as hrrrinu(t~•r pro.~i~lecl, thr hlortgagor dors g~ant, bargain, sell, alie~, remise,
releasr, co~vey and cnnfirm unto the ~tortga~;rr, in fe~• .impl~•, that crrtain real rstate, of which the I~lortgagor is nrnv
seized and possessed, and in actual posx•ssion, .ituate as d~•+r~ibed in paragra~h 27 below. _
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TOGETHER with ~fl furniture, furnishings, fi:tur~, goods, equiplnent, and inventory, together with any proceec~s
thereof and an~ rcplacements thereof, which a~c now or may hereafter be located and situate on the property described
in paragraph 27 below, ar~d all structures and improvements now and hereafter on said land and the fi:tures attacl~ed
thereto, also together with all and singular the tenements, hereditaments, easements and appurtenances thereunto belong-
in~, or in any wise ap~ertaining, and the rents, isst~es, ar~d profits therc~of, and also all the estate, right, title, interest and
:~II ctaims and demands whatsoe~•er, as ~vQll in la~v as in cquity, of said Alortgagor in and to the same, and every ~.:*t and
p:?rcrl thereof, and also all gas and electric fnctures, radiators, heaters, au conditioning equipment, machinery, boilers.'
r;~i~ges, elevators and rr.otors, bath tubs, sinks, ~~~ater closets, w•ater basins, pipes, faucets, and other plumbing aceci heating
fixtures. ma~~tels, reErigerating plants and ice boxes, window screens, screcn doors, vcnetian blinds, storm shutters and
:~~.•~ings,~vhich are ~ow or may hereafter pertain to or be used with, in oron said premises,even though they be detached
or cletachablc, arc and snall be~ deemed ta be a part of the realty. ~
TO HA\'F AtiD TO i10[.D the property described herein u~ta the I?~ortgagce, its succ~rsson'and assigns forever.
The I~turtgagor hrreby rnvenants with the 7~1o~tgagee that the Alortgago~ is indefeasibly xized a•ith the abwlute and fee simpie
t~tlr !u sa~d ptop~rty, anJ has fuD powe~ and la~dul authority to xll, convey, transfer aod mortQage ti~r same; t??at it slwll be lawlul at any
t~me hereafter fo~ !he M~xtgaRee to pracrably and quietly enter upo n, have, t~old, apd enloy said pn~PertY. anJ evrry paR thrreof; that said
property is free and clischyrged from ali liens, rncumbnnces, and claim~ of any kind, includinR taac~ and atsrscments; and that the Alortgagai
i,rrrby fully ~~~artants unto the !?fortgaRer the titlr to ~id pn~~ty and will cieFend the wmr at~ai~ut th~ L~~iul claiem and clemandc of all
~ rwns w~homcuever. This ~rtstrument also creates a security intere+t in favn~ of 1?1ortRaQee under ine Fk~rida l,'niform Commrrcial Code,
~nd \1ortRaRe•• shall also F?tve all riRhts and remeclies of a secured pa~1Y under the Florida l.'niform Gxnmrrcial ('.ocie, and v~ithout limita-
tu~n upon ot in cletof~ation c~f tFK~ riKhts and temrclies crrat~d under aod aechnled A1ortKa~er by lhi+ mort~;aKe punuant to the comrt^~ lavv,
nr anv ~~ther law~c, of the State of Florida or of any oth~r jun~dictior., it Fx~ing undenMod that the ri~ht~ and remedies of ~1ort~aRee under the
}~lurKia L's?iform Cominerc~al GKI.~ shall be cumulati.-e aod in addihon to all c~ther ri~htc aod remevlirs oI !~tort~a}~ir amin~ un~kr the eom-
mcx? lavv, or any other laws, of Ihe State of Florida or of any other jur~u+.~ctmn.
\O\~', TtiEREFORE, the condN~on of this nartR+ge i~ wch that if the ~fort¢aKor shall well arnl truly pay unto tl?e ~to~taaRec, the
~u~l~•!3trJnr~s c~ulrncrd 'oy that rertaio pmmi+~ory nute aE c~~en ilrtc hrri~vith, made by the ~lurtgaKor and payablc to the \tortR:~~~r, in th~
prmcipal sum set (orth in pangnph 25 below, toQether with interest ac therrin stated, ancl shal) perform, ~Y~mpl}• w•ilh and abide by e-.+rh and
r~ ery the +.~ptdatK~ac, ayLreements, c onditiom and ~venanK c~ontain~~1 and ~et (orth in thi. mortt~a~e and in the promu.ory n~~t. secured hcn•by,
thrn this mortKaRe and the estat~ hercby crcated chall cra.e and M~ null an:1 ~•~d.
A~D the ~1ort~a~or et~xs herehy covenant and :i~ree:
1_ To perfortn, complY v~~ith aoJ abide by rach and rvery lhe ctipulat~~w~., aKreemrntc, iondilwm and eovenants ~onta~neal atxl ~rt
fnnh in said p~vmi.sory note and thi. mort~;a~c dc~l
2. To permit, commit or suFFer no K~a.te and to mwintain thr impruvetnrnt. at ..1) hme•+ in a+t~tr of ~exxl repair and condit~on, and to
~u or permit to be done to .ai<l premi~ nothin~ that ..~itl altcr nr rhan~;r thc u.e and ch.init(•r o( ~akl pro~x rty or in any way lmnair nr
..r:~ken tF:e xcunty of tAi~ mnrtQ.i~;e. In w.e of ~.a.t~• nr thc rr(ued, ney;lrct or inabilit~• vf the ~tortQay;or to repa~r and muntain .:+id pmt~- ,
rrty, the btort~ay;rc may, at ~ts ~•ption, mako .urh « p.un ~x cau.a• thc .acni• to tm ma~lc, and adva~Kr rt~.x~e)~s in that ~•ha1f, anJ all ,uch
mon~rc ~hall be xcured by thi~ mart~a~~ and •h~ll lx ~mrtK~liatcly ilue anil pay:ible to the !?1ortRa~ee.
3. To pay al) and +in~ular fhe tai~~, a..r..r?K•nt., li•~•ie.. liaMldie~. and o1?liy~atiom nf every naturr cx~ ~aid dexriha-~I pm~x•rty each .~nd
r~r•ry ~~~hen dur and {u>abl~• acetvcl~ny~ fo law•, Fk•fun• 1hr)~ MYOme d~•linryucnt_ irnl to deliver to the 1~1ort}~a~er on er before ~1.vi~h 15tb ~d
<~ch year trs re-cripts evislrrxin~ fhe {?~ytnrnt of all I.~K[ullp ~mpo~c~l taie. (nr the precedinR calendar year, to ~nd~•mnify thr ~lnrts;a~:er
` u~xm ih drmarnl for aU taic., a~~e.~menh and ch.u~r. that may hr a~~~•~~e~1 upnn thi~ mort~.aQ~ or the indebtecln~~+ u~ctiii~Yl he•reh}•, and {?.+~d
h> the \tort{~a~rr, KitMwt re};ard to any law herrtu(ore enacte~l on c~r~•aRet to M• enarterl im{w+inR payment nf the H•Fxile or .~ny part thi•rrot
~ ,•i~~n t!N• ~lortga~;ee; arxl tu p~y ~1~ c~+t of &lin and teconlin~; continu~t~on statemrnts respecting this mnrtgaFe punuant to tl~e l~niform
i (:~mmrrcial Cocie and any oti~er 61u~g and reco~oR chulCes requirecl therrunder; ar?d to pay, in the e~•ent of any' transfer of titleo( the
I t~rem~.es rncumbeced hereby, !he charges assessed by I?tottgagr~ for rrHecting such transfer in its rrcor~ls.
4. lf a conveyanir ~hould be rr~d~ hy tne AtoA~aXnr nf the pmmi+ec herein descrilxd. or any part I.rriY~f, and the Krant~r n.~m:-~1 in
~ .u~h i~onveyanre faifz or rrFusr+ to a~cumr 1Fn naymrot nF thr obliRatirx~ evidenced bY s~id LKOmiswry nutr end .rc~n.'el hy thi. m~~rt~a~;~.
a~:d m an-otdanct w~th their rr+pcYtive term~, thrn :~n<I in that c~-ent, at the option and upon tF~e Jemand of thr ~lorltiaR~'~' a~~ ~um. o[ mimey
rurcd hereby shall imtnediatrly beeonx forthvcith due ~~1 Parabk.
S. In tM: e~-cnt uf a~uit bcin~ in.f~tuteel to ~oraY~o~r thn murtt~a~e, thc ~tortQay,rr ~hall hr entidcel to rpply at any tirtec• Ex•nd~n~ ~uch
f~~nY•locure +uit to thr court hn•in~ n~ri.ili~t~~n thenrof for tFK appuintrnent c~ a receiver of all and .in~ular the mort~a~eYl pmpcrtp, and oi all
rrnt~ income~, pro6b, i..ur~ ancl rrvenur~ tlxrer(, h~un vrhat.rx-vrr u?urcr derived_ anel therevpon it ic hrrrby e:prr++ly cYwenanti-cl and
:~xrrrd that thr court ~hall forthwith ap~x?mt wch teceiv~r w~th thr u.ual pnw•en and duties d recYivi•n in like ra~e~: xnd vid ap~intment
.hall be rtiade by the tnurt a+ a mattrr of ~trict ri~;ht to the ~1nr:y~ay~er, :~nd u~ithout re(erence ln the adequacy or ina~Iequacy of thi• .•.slue of
the pmperty hrrcby rrMrt~.+Rnl, rn to th~ .olvcnry or inwlvrnry o~ Ih~ !?tortRA{~orn ot any Mher paAy dadendant to wch ~uit. Th~• ~1u:tt;.~cor
h,•rrby +(kri6caliy waive. the n~ht lo obyrct M the apFn~ntment o( a«Yeiver ac afexesaie) and he•rby e:pravly ~vnxnt. thxt .uch .~p~~nnt-
mrnt chall be made ac an adm~ttcd cyuity and a. a mattcr t~f ab.olutr riKht to the ~tortQaAee and that the aame maY be done v"uhout not~cr
th~ MortKa~or.
8. If (orecMsurr pr~-e~linQc ~hrn~id kx in.vtute~al a~;ain~t the ~mperty eo••erecl by this mort~aRe upm xny other lirn n~ cla~m .~hrth~r
.~ileRrd to be w~~rior cx junior to Ihe Imn o~ thic tMltlj~dy;l•, ~Ilf ~~UttQAj;Cr ~j' ~~eby dut M]~~ately u~x~n in.titutNm uf .uch or
-1~~rin~ tht pendercy thermf declare ~his mortRaKe xnd the indebledne~. xcured payablt forthwith ~ixl m~y at ~t~ u tiun _
pnxeed tn fnrecl~ce thicmort~axe. , ;
7. To pa~ all and ~in~;i~lar thr ro.t~, ~harK~K .u~d expemes. irxludinK attomry'~ (res and aF»tnct iv~t., rraK~nably incurr~-~I ut n+id at ~
u~y time by thr \tortKafter Ix~c'au>e of the fa~lun• nf tlu~ \toRKa~or to perfotm, comply vrith, and ahide by rach and every thc .hpulat~uns. ~
+~;merrw~nt., cond~tien~, and ~r~~enant~ ~f s.iic~ promi.wry rMfr ancl oE lhis mort~aAr, or etther. !
~ 8. That the ~1ort~aKor w~ll krep all rral and prrw?nal pt~perty n.~w ~r herea(trr encvmlx~re~l by the lirn of thu murty;aKr in~ure~l a~
may tx re~~wrecl from timr to time b)~ thr ~1ort~aAee aKAin.t lo+~ I~)' Brr, vvin~i.torm ind other luzud., cw.valtie~ and rex?tintirncte~ (o: .uch
~ ~x•riods and for not ietis than ~uch umuonh a~ maY be requirrd by d~i• MortKaQcr and to pay promptly w'hen due ~II prrmium for .eu~h imur-
ance. The amounts of in.ur~n~r required by the ~tortRaKrc ~hall be the m~n~mum am~wnt~ (or whK•h ~id imurancr shal) lx~ vrrittrn and it +hali
~ be ~neumbent upon the Ntottqa~;or to mainUin ~uch add~:iona{ imurance a~ .~~ay be tx~ceasary to mert and ernnply fully wiih all ~o-inwrance
~ r~•quirements contained in said policih to the e:id th~t ~aid 11ortQaRor is not a cv-iowror therrnndet. lmuran~r ~hall be wntten by a rnmpany~
~ nr companies approved ot de~i~nated by Ihe ~tort¢aQrr and at) pvli~ie~ and re~cwalc the:ec~f +hap be hcld by the !~to~lQa~ee. AI! det:~ikd
d~siRn~t'ans by the ~tortRaKo~ .vhich arr accrpted by tlx Ato~t?;aQee and ~II aRrecments k~twcrn ~1ort~;a~or and ~1nttRa~er relatin}; to insur-
•r~ce, now e:istinQ w hereafter made, shall bt in w•rrtir.~ and ~lull br a pxrt d IAis mort~aRe aprecment ac ~ully ac thouah set iorih verbatim
herein and shall Rovem both parties hereto and their wcce..nr~ and a.~iQns. \o lien upo~ any o( said policies nf incurarx e or upon any rc(und
or rctum nremium w•h~ch may be payable on the cancellation nr termination thereof. ~hall b~ Ri~en to othrr than the 111ortaa~re, e:cept by
pmper endorsement afb:ed to auch policy and apptoved by ltortQaRet. Each policy oE ~nsunnce >hil) ha~•e ~fPued thereto a Standard tiew
1'ork biortRagee Clause ~+ithcwt Contnbut~n, makin~ all Irn~ at los~es ~~nJ~r ~ucb policy paYable to the ~1ortAaRee u its interest may appeat.
In the event any sum or wm~ d mon~y be-come WYjble thereund~r tl~e ~fort~aRee shall have the option to rerrive and apply the same on
acrount of the indebtedne~s herebv secured, or to prrmit the ~tortQa~or to receive arid use it, or any W~t th, reof, without t:tiercby waiv~oR
or imDairinR any equity, lien or riRht under and by rirtoe of thic mort¢aRe. In event of bu or Dhysical damaAe to the moR1t~R~ ProP~~Y
the AiortRaRot xhall Rive immediate notice thereof by rtuil to the Atort~~Kee and the 1?tort¢aKer maY make ora?f of loss i( the same is not
made promptly by the :1lortqaAor. In the event of default in this mort~aee re.ultinR in forecbsure thercof by the MortRaRee, or in the ac~uisi-
tion by the 11odRaAee o( titk to tMe propeRy ~•cured hereby in lieu of forccla.ure, all riRht, titk and interest d the 1?iortRaqor in and to any
in.urance policies refened to above ahal) pzss to the Mortp.aKee or its nominee or to ~he punhaser d said propertY at foreclosure sak, u the
case may be.
PACE ONE ~ ~ ~.+F.rV 14~
Boox Pact
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