HomeMy WebLinkAbout1475 {'RO\'IDFII, ALKAYS. tha~ if ~h~ ~furig:~gut sheU pa~ unt~~ lhe \lottgagee the ~ndebtedne~~ ~v~d~nc~d b~ a
ctr~a~n prwn~.~ar> nutr ~•f v?hich the faUuKi~g N~?cdt anJ [~gures ~s a trur ~opy to-v?~t
~°~`t~CtqC 7~otC 7 5
; 3,625.00 Fort Pierce. F~~~~dd May, 3, _
pllK vAl.[1E. !{l~:Cl~ tYM U _~_____~1~4.~Ilt l.v an ~YP~~~}C~-- P~omi:r tu pay
~hP ~~~ir~ _ MURRAY SHAY ana ETHEL . SHAY,, his wife. p~_ _
th~ principa) c~~m of THREE THOUSAND SIX HU',~IDRED TWENTY-FIVE and ~x)"I.LAR.ti, togeth~•~ with intccr•t
thrreun from date at thr rat~ uf t~n p'tcent, per annum until maturity, both principa) and int~rest bring payable in lawful monr~ uf
thr linitrd ~tatr~ a1 :.''~~1 Ki•caynr l3hd.. ~liami. Florida, ur at such other place as Ihe halder. hereo( may de.+ignate in writing.
, 1'rincipal and interect payable in imtallmen4+ as iollows:
EIGHTY-FIVE ($85.00) DOLLARS per month beginning on the 15th
day of July, 1975, and contiinuing on the 15th day of each and
every month thereafter until paid in full.
Th~s note may be prepaid in whole or in part a(tec one yeat fcom the date hereof upon payment of a penalty equiva{ent ~
tn ~•i~6t prn•~•nt of lhr principal ~um prepaiJ. :
F.~ch imtallm~nt paymrnt ~hall bc ~redited first on the interest due, and the remaioder on priocipal; and interr.-t shaU lhrn•-
u~~on ~rti~• upun thr principat .u ~•~~dit~d.
The maken and rndo~e~a of this t?utr [urther agne tu waive de~nand, notice ot twn-payment and protest, and in the evenl ~uit
~I~all b~ bruught (or tl~e ~ollrction hereof. o~ the same has to be collected upon demand o~ an attorney, to pay reasonable attomey~~
f~•r• fvr making such cullection.
Ueferred payment~ hereunder sfia{I brar interest at 1he nte oi ten percent per annum from maturity until paid.
1 7'hi~ nat~ i~ SecurcJ by a mortgage of even date hKewith and is to be constcued and enforced accord'+ng to the laws of tfi~
~ ~tate of Florida: upon default in the payment of principal andlor interest ~+rhen due, the whole sum of pnncipal and int~nst
n~rn.;ining unpaid chall, at ?h~ option of the holde~, become immediately dut and a able.
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S I ~ ' ~ _ _ (~~:At.)
~ Prep.r~d by ~prler ZL Tendrich. A1lornty~ - 2'240 Biwyne Bl~d.. Miami, lorida
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~r~J ~hall per~orm. comply with and abide by each and every the stipulations, agreements, conditions and cove- {
nants of said promissory note and nf this deed, then this deed and the estate thereby cceated shall cease and be ~
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null and void. ~ ~
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1. The Mortgagor heteby covenants and agrees:
la) To pay all and s~naular the prmnpal and ~nterest and other sums of money payable by viitue ot said prom~ssay note and th~s
detd, or e~ther, promptly oa the days ~especuvely the same severalty Ixcomes due.
(b) To petm~~. coMe~t or su([er no Waste a~+d ~o maintain ~he ~mpcovements at sll tsmes in a state of sood repair and cond~UOn, and to
do w perm~t to be done to sa~d prem~ses nothm~ that v~ll alter or chanse tAe use and ch~racter of said property or m any way impsu a i
reskeo the secunty of this mor~6ase. And m case o( the rctusal, nealect or mab~lity ot the Mort`asor to repair ar.d maints~n s~id proper-
ty, the Mott~aRee msy, at hfs opt~on, make such repaus or cauce the ssme to be made, and advance moeeys ie that beh~lt.
(c) To pay aIl and ~mtular the ~ues, assessments, tevles. liab~l~ties, and obliQauons o( every nature oe~ said described property each
and erery rhen due and paYable accord~na to Iaw, before they become delinQuent, and to defiverto the MortsaEee on w before March
lSth of each year ua ceceipts ev~denc~nE the payment oS at1 lav(u11Y ~mposed tazes tor the preced~na cslendar year, to mdemndy the ~
Mortsstee upon his demsnd for all taaes, a.sescments and char`es that may be assessed upon this mortsase on the indebtednecs ~
cured hertby, and p~~d Dy the mortEaRee, w~ihout re6ard to any la~ hereto(ore enacted or herea(ter ~o bs enacted imposina ~ayment o:
the ~vAole or any rort thereo( upon the !11~rtsa6ee. .
(d) To pay ali and ~inaular the costc, charses and expen~es, inctudin~ lawyers' [ees and abstract costs reasonably incurred M pa~d at
any time Ay thc ~S«t6a6te becau.e of the fa~lure on ~he par~ of the Mortsasor to perform, comply ~r~~h and ab~de by tach and every the
st~t+ut~t~o~s, a6reemcnts, cond~~ions and covenants oi sa~d promissory note and th~s deed, or either, and every such'payment shsll bear
m~erest from date at the rote of ten It0'G) pcr ccntum ver annum.
(e) !t ii lurtbu corcoa.::_3 u~d a~reed by aaid p~rties tbat in i6e ereat o[ a s~it beio~ iastituted to toceclwe this aortsasc, the w{ort.
~a~ee sh~ll be tetitkd to ~pply at soy tioe pendins aucle toreclosure suit to tbe court havin~ juriadietinn thereot for We appoiatment
of ~ recei~ar of ~11 and aie~ulu the aoci~a~ed pro~eny. s++d ot ~11 renta. incoses, protiu. iasuea aed rereaues tLered. froe .hatsoercr
source deri~ed; sed thererpon it is hereby e:pceaalr coreaaatcd aad ~~reed th~t Ihe Coun slull fatAritA a0point soch aceirer vriW
tbe wwl powers and dutiea ot receivers in like cues; ~nd s~id appoietaeat shall be ~ude br the eorrt ~s a wtter ot st~ict ri~ht to
the Martt~tee, and Mrithout referenee to the adequacy a inadequacy o[ the ralue ot the ptopertr herebr sort~~~ed. ar to t!m aolvency
a~n.o~.ener or Ne M«~a,s«s « aor o~uer p~rty defeeWant to snch suit. TAe Matsa/ar bereby i0ecific~lly waives tbe ri~bt to object
to che sppoiatment ot ~ receiver as aforosaid ~n8 berebr eapresalr cmaeots th~t sYCh ~ppointsent ~ah~ll be ~ade ~s ~n sdnitted equ~ty
~ad u~ mtter ot absolute rijltt to the AlortNtec sod thst tbe aast wy be da~e ~ithont Qotiet to the Mortiasor.
(f) If toreclosure proceediap sbouW be inatituted ~~~inst U?e propert~ corered by thia sortp~e upoa ~nY othet (ien or clsiie ~rh~tber
•lle~ed to pe superior a junior to the lieo ot this asortsa~e~ the Morca~{ee msy ~t Ais optias ime~edistelr uoon institution of such ~ui~
a dutia~ the peedeacy tActeot decl~re tAis e~at;ase ~nd the iadebtedeess secuted Aerebr d~e ~nd ~rible forthwith and may ~t i~s
optioa ptoceed to fateloie tbis mottsa~e.
, (v That tbe Mortµ~at vill keeo all real and persoeal propertr nov a heredter eacwebered br the lien ot tbis sortas~e insured as may t
be re~ired trow tiec to tiise by tht Mortsatee ayins! Iws Ay fite. riads~otm snd o~her hasarda, c~swltiea u~d con~in~encies (w such
ptriods and tor aot less th~a such amoapts ai ur be required by the ~y,s« apa ~o wr ao+.p~~r ~Aen due ~Il pem~ua~s fa sYCh ~
' insuraace. The asounta of iw~rance required br ~be Morts~ee adall be We ~iei~ua ~somt~ for ~Sic6 s~id insMr~ace ~hall be ~.rltten
aad it sha11 be ineusbeec upoa the Mor~~~or to s~intaia sucb ~ddi~ion~t insur~nce as wy be necessuy to meet and caaplr tnlly +ritl+
•11 co-insunnce reauiraoeata aont~ined in said policies to tAe end that the ~~id MatNta is not ~ eo-inswa tAerea~dcr.tasurance
a6~11 be rrrittea br ~ ca~p~ey or cawpwiss ~oprored a desi~e~ted by tbe UAart~a~et and ~II oolicies ~od reaer~ls tbertof shsll be beld
bY tAe Matpiee. A11 de4i{ed deai~natims by t5e 6{ort~~tot rhich ~te accepted br tbe I~lort{a~ee ~nd all yree~ents Setrten t~lort~s~or
aad Mortp~ee rel~tia~ to iasar~eee. aai e:iatin~ or heresfter sade. sh~ll be in vritia~ aad sha11 be a patt oi this eartNSe a~reewen~
as (rlly ~a tAou~A aet fath rerb~ti~ Acrein ~nd sMll ~oyero botb parties hereto and Weir anecessors ~sd ~asi{ns. No lien upon ~ny o!
ssid polieies a( iaswaece o~ ~paa any retw+d or retwn yre~itis ~bicA w~y be p~r~ble oo Ihe c~atell~tioa a~ te~iaation thercof. sh~ll
be ~iven to otber ~Asn the MorW~ee, eaeeot by oroper cndorsewent ~(fised to sutb oolity aad ~pprored Sy Mot~~a~ee. Eath policy of
ie~rnace sAall have atfised thereto ~ Sqed~rd New York Monqfee Cl~rse vithout Cootributiaa, wkin~ ~II loss a loases w~der such
policr alrable to ~he Mottp~ee ~s its intr~eat ssY aoyeu. la the ereat aep suen a sw~s ot ~oner becoee p~rable thereunder tAe ~for~-
psee sh~ll Aave 1be ootian to receive and aoplr tbt s~~e on acewnt of t6c iadeMedness berebr securcd. a to perwit the NM~~sEor ~
ta receire and we it. or snr p~rt tfiereof, witbout Wereby ~~i~in~ ar iipairins ..r eyw~~r. lien. or n~bt wider ~nd by vuiuc of th~. {
n~at~aje. la e~ent ot loss o~ pArsical dima~e to tht mort~s~ed ptoperty We Moctp~a sAall sire smisedi~te not~ce tfiereoi by ma~l t~+
the Mary~~ee ~nd ~he Mort~~~ee n?sy mske proof of loss ~f the aaa+e ~s no~ m~de promptlY br tht flata~sa. In event r~f (ae~ln.ure of i
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