HomeMy WebLinkAbout2576 PROVIDED, ALK'AYS, that if the M~r~gagor shall pay unto the l~lortgegee the indebtedr?ess evidenced by a
certain promissory aote of which the tollowing in words and figures is s true copy tawit: -
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f 2~ ~+QQ . Fn r P i_ rs~,._ Florid~ _ Jit l Y 3, l~ 7 4_
Fl1R V~LUf. REC61~~E~n _ ~TE_ ' Q1II~.1.~'_and sgyera l lX, ptomise tu pa~
~h~ o.d~~ ~t _ __.~1AT FRIED:tAN~TRUST~E _
the pnnc~pal sum o( TW(Z TNOU3A~D NINE NUNDRED TWENTY-FIVE a~ , ~o~ethet with interrsl
h.reon ~rom date at th~ r~te o( ten pereeet, pe~ aonurn untel matutit~r, botl~ principal ~nd intereat bein~ payable io lawtul mooeq uf
~h~ limted ~tatce •t ~244 Bi~cayne Bl.d., A1i~mi. Florida, ur ~t weh othet plue u the hddus heaof nuy desi~ute in writinR.
Principa! and int~rrat par~sle in inatdlmcnL+ u~ollo.rt:
~IXTY-FIVE ($65.00) DOLLARS PER MONTH beginning on the lSth day of
September, 1~974, and continuing on the 15th day of each and every
cnonth thereafter until paid in full.
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Th~s note may Ae prepa~d ~n whule or ~n pa~t aftet one year ftom the date hereo( upon payme~t of a penalty equ~valent
f~.e percem of !he pnnc~p~l sum prcp~id.
F..ch in•lallm~nl payment ~hal) br cr~d~ted (~rst on the inter~at due, and the r~mainde~ on principal; and intr?r~t ~hall Ihrrr
upun ~ta.e upun the pnntipil so credit~d
Th~ mak~n and rndoreen ot this nat~ (urther ~?ee to waire Jemand, not~c~ of nonpa ymenl and protest, and in thr ~venl uuit
.t~all b~ bruuRht tor thc rollcction he~eu(, or the ume has to be collected upon d~m~nd o( an attorney, to Pay teuonabl~ attomey'F
~rr. (~r makiry~ such collrction.
U~(~n~d paymentR h~r~und~r ~hdl hear iM~r~.t at the nte o( ten percent per annum lrom maturity until paid.
1 hi. notr ia ~ecured by ~ mort~Re o( eve~ date herer+ith and ie to be cenatrued and en(orced aecordit?~ to the laws ot the
~tat~ o( Flcxidr upon dr(~ult in the pa~•ment of priacipd andlo~ intere~t when due, the v+hde ~um ot principal and interest
nma~ning unpaid ahall, at the option of the holdete, become inune~iately due and payaW ~l .
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and shall perform, comply 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:
lal 'Ib pay aU and singular the principsl and interest and other surtu of money pay~We br ~~irtue of said promisswy oote and U?i+ deed- or atAer.
promptly on the days respectivdy the same se~ erally beoome~s due-
I 1 bl To permit. cotncnit or suffer no waae and to msintain [he improa•ements at all times in a state of good repa9r and tonditior.. and W do or perm~t to be
I~ done to said premixr nothing that will alter or change the use and chuecter of said property or in any .cay impair or xeaken the eecurity of thu
4 mortgage_ Acd in e:ase ot tF~e rcfiual. negkct or inability ot the ~tortgagor to repe:r and maintein ssid properey. the ~tortgagee may. at his option, make
suc6 rep~in or uux the xme w be made. and ad~•ance moneye in that behalf.
Itl To pap ell and singutar the tazes. assessments. levies. liabilities. and obligations of e~~ery nature on said dexnbed property each and every ~chen due
and payabk xco~ding to la~v. before they bFCwne delinquent. and to ddiver w the \iortgagee on or before Narch i5th of eacl~ year tu reoe~Pts _
e~ideneing the p~ymeat of dl Lwfulty impoaed tazes (or the preceding ulendu year: to idemnify the Alortgagee upoa his demand tor a0 tues, assee.s
' menta snd clurges that may be as~esaed upon tltis mortg~ge an the i~ebtedness aecured haeby. and peid by the morgagee. vcithout rcgud w any law
hecewfore enscted or h~esha w be enacted impoiin8 WYment ot the w hole or any p~rc thneof upoa the NortB~gee-
Idl To p~y all and singul~r the costs. charges and ezpeax~. including Lwryers' (ees ~nd ~bstrsct oosts reasonaWy incurred or p~id at any time 6y the
;~(ortgagee beuux of the failure an che part of t!K 1?fortgagor to pertorm. oomplY with and abide by esch and e~wy the etipulatioas. a~eeme~cs.
conditions and eovenaats ot xid promissory note and this deed. or either. and e~~e.y such p~ymeM shall be~r interest from date at the nte of ten 1109F 1
per centum per annum_
lel It is further rnven~nted and agreed by ssid parties that in the e~•ent of a wit being instiwted to forecbse this mortgage, the Mortgagce sh~ll be
entitkd W apQly at ~n~ time pending such f~mclosure suit to the murt Mving jurisdiction thereof fw the appointmeot o: a reoeiver ot al! and singu4r t~e
~6~6~ P?~P~Y. a~ of all raits. ir~xnes. profits. issues and re~-enues ti~ereo(. trom Rhat~~•er ~ource derived: and theieupon it is 6ereby e:prdsly
co~enanted and agrecd that theCourt shall forth~eith appoint such recxi~~e? arith the LL~ual powere and duties of recd~r[s in iikecaxs: and naid appoint-
ment sliall be made by the court as e matter of etrid right to the blortgagee. and wiclwut refaem w the sdeQuey ar inadeqwcY of t6e value of the p~o~
P~Y ~bY ~ortBa6ed• or w t6e eoh•ency or ineoh•en~y of the ~iortgsgore or any otber perey defend~nt to such euit. The Mortgsgor hsreby spedf-
inlly w~ives the right to object w the appointirxnt of ~ reoeiver se a[oressid and hereby ezpca~sly oon+mts that w:.h appainsment s}rU be m~de ~a ~n
edm~tted equity and as a matter of absolute right to the ~lortgagee and that the same may be dnne withuut notiee to the :lforigagor.
~(1 It forecbsure proceedings slsould be insutuced against I,he praperty cm-ered by this mortgaqe upon any ocher liea or t4im ~rhetF.er aUeged W be
yu~erioa or juniOr to the lien of thi3 mortgage. lhe ~lortgaRee mac st h~~ opuon inuned"utely upon institution of such euit or during tbe peodeocy tlxreot
daclue this mortgage and the indebtrdness secvred hereby dce atxi pa~•able forthwith and may ~t ita option proeeed co foreclose thie mortg~ge.
1 ql7tut the ~tortgagor Rill lc,xp e!1 retd and penona: propern nm? or 6ereatter encvmbeied by the Geo of this mortgage icwred u m~Y be+equi+ed from
time to time by the A~ortgagee egaiiut bss by fire, windstorm ~nd other hszards. cuualties and contingencies far such period~ and (a oot ksa tlan
wch amounts as msy be req~ired by Ghs ~toKgagee and to pay prompdy w6en due all premiurr~ for such inwn~xe. The amounts of imura~oe required
by the ltorga~re shaU be t1~e minimum anwants (or w hich said irourane shall be written and it shall be incumbent upon the Mortgagor to maintain suc6
additanal insurance ~s may be neceswy to meet and comply fnllY Rith ell co-ironr~nce ~equ"uernents contained in said policiea to the eud tl~t tAe said
~tortgagor is not a oo-insuror the~eunder. Inwr~nce shall be.critten by a company or co.-npanies approved or des~nsted by the Mortg~~ee ~nd d1 pdi-
go n e
cies and reneweLs tAaeof sheil be he{d by the ~tortgagee_ A11 decaikd designations by the Mortgsgor which are ~ccepted by the Mortgagee and all agree
ments betv~een ~tortgagor aod lfortgagee relating w ins~uance. nowr e:isting or hereaRer made. ~hall be in writing and shall be a~rt of this mortga8e
agreemeru es fdly as thoug6 set torth ~•erbatim herein and shall go~~em both pvties hereto and chtir suooes~ors and assi~s- No lien u(wn any of ~id
policies of in.aurance or upm any refund w retum premium which m~y be p~y~ble on the cancellstion or tumisution t6ereof. sMll be giv~ to otAer th~n
the ,•.tortgagee. e:cept by prvper endnrsement affi:ed to such po6ty snd approced by ~iortgagee. Each poliry of irtsur~noe sha116~ve af6zed thereto a
Standard tiew York \lortgagee Clause writhout Contri6uti~. ma~~ng all loss or losxs under such policy pay~bk to the Mortgagee a~ ita int~+est m~y ~P
pear. Tn the event sny ~um or ~ums of m.oney become payabie chereunder the ~fortgagce ~hall A~ve theoption to receive aad appty the same oa acoovat
oi the indebtedness hemby secured. or to permit t he !Nortgegor to receive ~nd use it. ot any part thetaof. wntl~ot~t thereby w~ivitg or impairia6 aa1 eW}
ti, lien, or ri~t under aod bv .irtue of this mortgaqe. In event of bas or phyaica{ damage to the moctg~ged prope~'ty tl~s Mortg~gor sha11 ~iri imm~~te
s~aK229 ~~E2576
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