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Home My WebLink About0245 : PRO'tIIDED, ALWAYS, thet if the Mortgagor shaU pay unto the Mortgagee the indebtednesa evidenced by a certain ptomissory note of which the following in words end figures,is a true copy lawit: - '~o~~ ~~ste t 9 775 00 ~or___t Pi~rce, Elorida Au~ust 10. _ 1~.7~ ~ 1,t - f(1R VALIiE RECEIVED ~J ~~1-~y~, H~5 t~fl ptomisc tu pay ` to th~ ord~~ o( _ JOSEPH A.``SM~A ~ the ptincipal sum o(~~1~~HOUSAND SEVEN HIJNDRF~D SEVEK~Y-FI~ a~~~Q ethet with intere+t thereon (rom date at tfie ate ot ten perceot, per an~um unti! maturiq•, both pnncipal and intere~t bein~ payable in lawful money ui the lin~ted ~tate~ ~t 22~4 Biacapne Blvd., ~1i~mi. Flu~da, it wch other place,,as the holders hereoi may desigr?ate in wn~~nR• Principal ~nd ~ntereit payabte in in~Wlmen~+ ar Iollows: • ONE HUNDRED NINETY ($190.00) DOLLARS per month beginning on the 15th day of October, 1974, and continuing on the 15th day of each and every month thereafter until paid in full. This note may Ae prtpa~d ~n whole ot ~n part aftec one year irom the date hcreof upon payment of a penaity equn•alent eo [i~e percent of the prmcipal sum prepAid. ( ~ f~ch in-tallment payment titull !x rredited [iral on the int~rest due, and the ~emainder on principal: and intrr~~t ~hall thrrr- ~ upon c~au upun lhe principal ~o cred~ted. ` Th~ maken and ~ndo?sers ot thie note further a{;r~e to wa?~•e demar.d, not~c~ uf non-payment and protest, and ~n thr event ~u:` .{ull b~ brouRhl (or the collection hcreoi, o~ the eamc has tu L~ eoltected upon demand ot an attorney, to pay ~tiwna6le attorne~ ~ ~ frr• (or making ~uch collrction ~ Defened paymenta hereundet eh~11 dear intereat at the ~ate o[ ten prrcent per annum [t~m maturity until paid. 1'h~. note ia ~ccured by a mortgage of even d~tt herewith ar.d is to be conahved and enforced accord~ng to t4e laws of thc ~tat~ of florid~; upon defaalt in the payment of principd andlo~ interest whcn duc, the whole eum of pn~~ipal a~d intcte~t rrma~ninR unpaid sh~il, al the option of the holdees, become immediately due-3nd payaWe. , , S~ - i _ _r f' ~ ~i ~ ~ .~--~-~=~(SEAL} ! - , . ; ~o ~ ~ : . . . (S£ALl ~ and shall perform, comply with and abide by each and. every the stipulations, agreements, conditions and covenants of said pmmissory note and of this deed, then this deed end the estate thereby created shall cease and be null and void. 1. The Mortgagor hereby covenants ana agrees: , lal To pay all aed eingular the principal and intereat aad other sums of money paYaWe by virtue ot s~id promissorY note and thie deed. °r e?th~. PromP~Y on the day~ respectivdy the same xverally beoomea due. !bl To permit, commit or sufter no ~raete ~nd to maintain the impror•ement~ at aU time~ io s scate ot good repair and condition, and to do or permit to be done to seid premises nothiag that will aleer or change ehe ux snd eh~racter of said property or in any way impair or w~eaka? the security of this mortgage_ And in cax ot the tehual. negkct o~ inability o[ the Mortgsgor W repsir ~ad maiauin said property. ihe Mortg~ge~ may. at Aie optio0. make i such repairs or uux the sune to be made, and advsace moneys in t6at behalf. j Itl To p~y dl and eingul~r the tazea. ~ssessments. levies. liabifities. and obligations of eeery nsture on said desaibed propertY e~ch aod evM' mhe° due ~ Wri~ ~~8 w law. befar they beoome ddinquent. aad to deliver w the Mortgagee oa or before ~tarch lSth ot each year taz recaipes ~ rvidenring the p~yment of atl lawfutly impoeed teses tor the preeeding akndar Year: w idemnify t6e Atortgagee upon his demaad tor ~ll tazes. aeses? ments and chargea th~t may be aaawed upon t6is mortga8e oa tAe indebted~ss aecured hereby. and paid by the morgagee. ~eitbout regard to ~ay law he~ew[ore eoacted or hse~Rer w be enected imP~oB WYmeat of the ~rbob or any part thacof upoa tde Mortgagee. Idl To p~q dl end singuLr the costa. chuges and rspeaxa. induding hwyeta' [eee and abatrsct oosta ceasooably iocvrred or paid at any time by the Nortgagee bec~~+e of the failure oo the part ot the Mortgsgor to perform. rnmp1Y with and ebide by eseh and every the stipulatione. a~eemeata. conditiaas ~nd oovenanu ot esid promissory• note and t1?i~ dead. w eithv. ~nd every suth payment sha11 bear interat from date at the rate o( teo I10'bl per centum per annum. lel It is further ooveasnted ~nd egreed by said parties that in the event ot a suit being inetiwted w toredox thi~ mortgage. 4he MortBagee sha11 be entitled W apply at any time per.ding such foreclosure suit w the oourt l~ving juri~diceion thereof (or tAe appointmeat of e receivv ot all and sioguLr the mort6~lted DropertY. ~nd of all rents. inoomes. Profits. issues and revenues thereof. from wh~taoever aource derived: ~nd thveupon it is h~rebY ~P~7 ~ covsuated and ~geed that the Caurt shall fort6rvit6 appoint auch receiver with ehe usual poRas and dutiea ot reoaven ia 1~7ce cases: and s~id aj,poi~ ment eFup be m~de by the court u a mauer ot strict rieht to the Matgigee. and without roferaioe w ehe adeqiuey or iaadequ~ey of the value ot tbe p~o- . perty I~eby mortgaged. er w t6e sofvency or insolvency ot the Mortg~gors or ~ny other p~rty defendant to auch s~rit_ The Mortgagor hseby spedi- mo t ically waives the right w object w the appointmeat ot s c+e~iver u afore~aid end hereby espressly ooosents that sueh appointment aLsU bs m~de as an admitted equity and as a matter d absolute right to th~ Mortg~gee and that the same msy be done wichwt notice co the Mortg~gor. ` If1 If [orecloauro proceedings should be instiwted aqainst e6e property covered by this mortgage upon any other lien or cl~im wlmtlbr alkged to be euperior or juaior to the lien of this mortgage. the Nortgagee msy ~t Ai~ option immeducely upon ia~titution of suc6 wit or during the peadeacy thereot declare tFu~ mortgage and the indebcedness secured k~ereby due and peyable torthw~ith and auy ~t its optian prooeed to faeciose this mat8+8'~- ~ - - 1 g 171ut the Mortgagor wiU Iceep a0 rnal and per~on~l propeety now or haeaher enwmbered by tbe lien of this mortgage inwred as m~y be required from ~ time to time by tbe Mortgagee againet bss by fire. wirdstorm ~nd other hu.ards. casualtiea ~nd contingencie~ (or auch periods ~nd tor rwt ks.s th~n such aawunts as may be required by the Mortgagee and to WY PromP~~ when due all promium+ tw such inwnnce. 7~e ~mounts of inaurana requued ~ by the bforga~ee shall be the minimum acoounts tor ~chich aaid irourarre shall be written ~nd it shaU be intumbent upon the Mortgagor W maint~in ~uch ~ sdditional uuur~nce as may be nece.+sary to meet aud comply tuUy with all oo-insurance requirements ooniaind in eaid policies w t6e ead th~t the s~id ~ Mortgagor is oot a oo-insuror thereunder. Insursnce st~all be vritten by a company or oomP~nie~ aPProved a d~gn~~d bY the Mo~tga~ee tad dl poli- cies end renewaia thereot aha11 be held by the tilortgagee- AU detailed designacione by t6e Mortgagor which ~re acoepted by the Mortgagee and a11 a~es ments betaeen Mortgagor and ~1ort~agee relating W insuranre. nmv ezisting or here~fter made. sha11 be in writing and ahtll be ~ part ot thv mortga6e agreement as [dly ae thoug6 x! [orth verbatim 6erein and ahall govero both p~rties 6uetn and thar wocesaora and as~s. No lien upoo ~ny of s~id ; policiee of insurence or upon any retund or returo pranium which m~y be p~y~bk on tM cu~cellation or termioation tt~ereot. ah~ll be given W other tlwn the Jforigagee. eYcept by proper endorsement atfized to such poficy and approved by Mortgagee. Each polity of insuranoe alull h~ve ~f5zed theteW ~ St.~rd~rd New York Mortgagee C1sux wit}?out Contribution. malcing al! laee or losses under such policy paYable to tM Mottga~ee ~s ita intveat may ~P pesr. In the event ~ny wm or ~ums ot mo6ey become paysble thtieunder the Mortgagce sAall lyve tAe option W receiw u~d apply tlie ume oo ~coount of the indebtedness hereby secured. or co permit the ~iortgagor to recave and use it. or any part tl~ereof. w~ithout thereby w~ivin~ or impairin8 ~Y ti, lien, or right under and by virtue o[ thie mortgage. In event of bss or physical daiwge to the mortg~ged propaty ths Mort~o~ ~h~11 pw imm~at~ ~ Gk EOOK ~z PAGE 245 ' ~ . _ . - ~ ~ ~ ~ : ~ , ~ ~ s ~ °;F w^'' ~ - : ~~_.~:~~,~r.~~.~.