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Home My WebLink About0997 ' s j ~ 1- • ~ o r t g a~ g e ~ ~ THIS MORTCACE INllENTURE, rxecuted by the Mortg~rgor named in puagr~ph 28 below, which term as used in every instance shall include the Mortgagoi s heirs, ezecutors, admiaistratocs, succruan, kgal representatives and auigns, either voluntary by act of the ~art~es or involuntary by ope~ation of law and shall denote the singular and/or plural, a~d the masculi~e and/or feminine and natu~al ancl/o~ arti6cialpe rsons. wheneve~ and whereve~ the rnntext so . re.yuices or admits, paMies of the first part, to WASN[NCTON FEDERAL SAVINCS AND LAAN ASSOCIATION OF MIAM! BEACH, a corpuration existing uadrr the laws of the United States c+f Amrrira, he~einafter called the Mortgagee, which term as used in every instanc~e st~all include the Mortgagee s sucressors, legal ~epresentatives and assigns, party of the second part. WITNESSETN. that ivr .livrrs gaxl and valuablr iYmsidrrations, and to srcure thr payment of the aggre~ate sum of money named in the pmmissory note of rvrn date herewitl~, iierrinatter mentionecl, tc~ether with interest thereon and all other sums of money securetl hrreby as here~ina[trr pro~•idrel, thr Mortgagor dces grant, bargain, sell, alien, remise, release, convey u~ci rnnfirm unto the Mortgakrr, in fer cimple, that c~ertain real estate, of which the Mortgagor is now seized and possrued, and in Hctual pc~ssrssion, ~ituate :u d~•.c•ribed in paragra~h Z7 below. TOGETHER with all furnitwe, furnishings, firiures, goods, equipment, and inventory, together with any proceeds thereof and any replacements thereof, which are now or may hereafter be located and situate on the property described ~ in paragaph 27 below, and all structures and improvements now and hereafter on said land and the 6xtures attached thereto, also together with aU s~nd singular the tenements, hereditaments, easements and appurtenances thereunto belong- ing, or in any wise appertaining, and the rents, issues, and profits thereof, and also all the estate, right, title, interest and all claims and demands whatsoever, as well in law as in equity, of said Mortgagor in and to the same, and every part and parcel itiereof, and alw all gas and electric fuctures~ radiators, heaters. air conditioning equipment, machinery, boilers, ranges, elevators and motors, bath tubs. sinks. water closets, water basins, pipes, faucets, and other plumbing and heating 6xtures, mantels~ refrigerating plants and ice boxes, window screens, screen doors, venetian blinds, storm shutters and awnings,which are now or may hereafter pertain to or be used with, in oron said premises,even though they be detachecl or detachable~ are and shall be deemed to be a part of the realty. TO HA~'E A\D TO HOLD the property desrrihed herein unto the Martgagee, its sucresson and assigns forrver. The Mortgagor hereby co~~aats wid~ the f?lortgagee that the Mortgaqor is indeFeuibly seized with the absolute and fee simpk I tiUe to said proputy and hu fuU povru and lawful authority to uU, convey, trans(er and mortgage the same; that it shall be lawful at any time hereafter for the MoRgay~ee to peaceably and quietly enter upon, have, hdd, and enjoy said property, and every part thereof; that said i prope~ty is free and ed fmm all liens. cncumbrances, and claims d any kind, incluciing taxe+ and aases.cments; and that the A~ortgagor ~ hereby fully warrants ~nto t Alortgagec the title to said property and wQl defend the same aJCain~t the I~v~ful claims and demaadc of alt - I persons whotnwever. ?his instrumrnt also creates a security interest in fawr o( AlortgaQce unJrr the Fbrida VniForm Commercial Coda, ~ and Matgagee shall also have all rights and remedies of a secured patty under the Florida Uniform Commercial Code, and without limita- - ~ tion upon or in de~ ation of the rights and remedies created undcr and attorded Atortgagee by this mortQaRe p~~rcwnt to the coma~a? (aw. ; or anx other laws, oF tl?e State of FlcKicia or of anp other jurisdiction, it bein}~ understood that the ri~hts and remedies of I~lortga Ree under the I Florida Uniform Commerrial Code shal) be cuinulative and in aJdition to all other riRhts and remeclies of I~tortKaRee arising under the eom- ma~ law, or any other laws, oE the State d Florida or of any other juriuiidion. NOW, 7'HEREFORE. the condition af this ~~wrtRage is s~ch that if the I~lortqagor shall wdl and trulypa y unto tl~e MortRagee, the indebteciness evidenced by lhat certain promissory note of evrn date h~~re+~•ith~ maJe by the Mortgaqor and payable to the MoAgagee, in the _ t principal sum set forth in paragraph ZS below, together with ir.ter~st as therein stated, and shall peiform, rnmply with ar~d abide by each and _ evety the atiptilat'anc, a~eree~t~ents, ronditions and covenants contained and set forth in this mortQaAe and in the promiswry note xcured hemby, then this mortgage and the estah hereby created shall cease and tx nuU and voiJ. I~ AND the 1?tort~agor cloes hereby covrnant and a~ree: l. To pedorm, canply with ancl abide by rach and every the cti~wl~tMn., uKrremrnta, ronJitiuns and covenants rnntained a~xl xt fath in said promi~sory note and thic mortga~c decd. 2. To permit, commit or sulfer no w•a.te ancl to maintain thr improvemrnt~ at all timr. i~ a~tate of Rood repa'v and conJition: and to - do or permit to be done to wiJ premire~ nothinQ that w•ill alter or cha~~r thr u~e ancl chrracter o( ~aid property or in any w•ay impair or z weakm the xcurity of this mortRa~e. In ca.e o! N•a.tr or the re~u~l, ney;lrrt or inability of the ~tortRr~or to repair and maintain ~nid pmp- erty, the Mat~a~ee tnay, at its option, make wch n~in or ~hwe thr .ame to he maik, anJ advancr moneys in that behalf, anJ all .uch < ma~ies shaU be secured by tFw mortQa~r and Jull bc immixliatrly d~K and payxMe to thr_rtortgaRee. ' ~ To pay ap and ain~ular the tasi~, a..r.~rrK~nt., k•vir~. liabilitirc, and obli~ation~ oi every natu~r on ~aid descrihed property r.xh arnl r.•ery whrn due and payahlr acrordink to law•, hrForc they lxcrme iklin~p~ent. ancl to deliver to the Ntort~a~ee on or be(nre Maa•h ISth of ~ each year tu rreeipts eviclenrinR the paymrnt ~f all lav~~fully impo~ed ta:e. fnr the preeeclinR cakndar year, to imlemnify the Morte;a~ee ~ upon itc deman~l fot all taxe~, a~~es.menta ancl c~ury;e. that may be a~~~l upnn thi~ modRaRe or the imlebeclne+~ .r~vred hereby, and paiJ I~y the 11SortgaQet, without reRard to xny law herrtafore enactrd or herea(ter to be enactetl imposinA payment of the whnk or any part thcred i u~x~n the ~tortgagee• and to pay the cost oE 8ling and recordin~ continuation statements respecting this mortgage Qursuant to thc Uniform (:ommercial Code and any other filing and raordmg charges required thereundcr; uid to pay. in the event oE any transfer of title of the I premiaes encvmbered hereby, the charges ac.sessed by Mo~tgagee foc re8ecting such transEer ia its raords. ~ 4. If a conveyanoe cMwW be made by the MoARa~r oF the pmmi~ea herein described. or a~y part hermF. and the Rnnter rtamccl in ' wch crooveyance (~Is or rcfuses to accumr the naymmt d the obliRatirx~ evidenced by aaid promissory note and .ecvred b~ thi, rn~n~aKe, 4 and in accotdance with their re~pe~tive termc, thrn and in that rvent, at thr option and upon the demand of thr I?fc?rtKaAee all ~~m~ of money i .ecured hereby shaU inunediatrly bea~me fodhM~th due ancl payaMe. f 5. In the event d a~uit betin~ iactituted to (orrclo.r thi. m~ut~a~e, thr Morla+Kre ahall be entitled to ~pply at any timr pendin~; .uch j (orecloaure suit to the court havinQ juriali~tKm thereaE for thr appuintment of a receiver of all and ~inRular the mmt~a~rd property, anJ of all i rents, ineome~, proBts, i.?ues and rrvenur. thereof, from w~hat~orvrr .nurcr derived: and thereupon it ic hrreby eipre~.ly rovenanteJ and _ i ~K...~ ~h3r E?x. .,~.ur~ ~11 forthwith anpoint .uch reoeiver with thr wiul porYn and duties d receiven in like ca.+es- anJ ~aid a~ointment f ~hall be mack by the cr?urt as a matter d~trict ri~hi to the I?fort~a~ee, and without refnenee to the ad uacy or inadequary of t1x vaiue oi the propedy hercby mnrtFaRed, or to the .dvency or insolvency of the AtorfRaRon or any other party d~endant to ~uch .uit. Thr ~1ortKa~or i hrreby ~pecifually waive. the riRht to object to the appointment of a rcYriver as afo~esaid and he•eby espn~aly ~on~ent. that NK'II app~int- ment shall be made u an admittecl equity and zs a matter oF ab.olutr riRht to the Mortqagce and that the same may be done without ooticr f to the MortRaaor. 8. lf forecbsure pnxYrdinRc ihoulJ be imtitutetil a~inct the pmperty covered by this moRR~Re upon any other lien or claim whether ~ a1leAed to be superior or junior to the lien of this mortRaae, the A1nrt~aRee may at its optioc~ immediately upon in~titutinn of +urh .uit or during the pendency thertY+f ckclare this mortRaKe and thr indebtaincs.s serured hercby due and p~yable forthwith and may at its option proeeed tn foreckKe thit mortRa~e. ' 7. To p~ay all and sin~ul~r the co.ta, charKec a~Kl exprnses, indudinR ittomry's fees and ab~tract u»ts, rrawnably irxvrrrd or paid at xny time by the MortKaqee because of the (ailure of the MortKaaor to periorm, comply with, and abide by each and every the .tipulations, aRreements, eonditions, and cm~m~nts nf said promicsory note and of this mortRa~e~ or either. 8. 'fhat the Mortqay~or will krep iU rral and penona) propnty nc~w or herea(!rr encvmbrreJ by the lirn ~ this mortK+ge inaurexl u may be rcquired from time to time by the A1ortRagce a~Winct k~cs by 6re, wind+torm ~nd othcr hazardc, rasmlties and continKrncie~ (or such periods and for not kss than sueh amount~ ic may be rerryired by the MortRaAee and to pay promplly when due aU prrmium for wch in.ur- ance. The amounts of inwrance requircd by the A1ortRa~cre ahap be the minimum amwnts for which said iruuranoe shali be written anJ it shall be incumbent upon the Mortqagor to maintain such additional insuranee as may be neres.wry to meet and comply fuUy with aU co-insurance rcquirernents contai~ud in said poliries to the end that said Mortgagor is not a co-inaurot the~n~nder. lnsuranct shall be writtrn by a company or rnmpanies approved or desiRnated by the MortKaitee and all policies and rcnewals thcreof ~hall be held by the Mortgagee. All ckt.iiled desiRnations by the I?lortqaaor which are acti~epted by the Ntort~ta ce and all aQreemenfs between 1liorty,~Ror xnd MortRaAce relatinR to insur- ance, now acistinR or hereafter made. shall be in writin~ and shalf ~ a part d this mort~age apreement u fully as though set forth verbatim herein and shall Rovem both parties hrreto and their succeason and a~i~ns. No lirn upon any d said policies of insurance or upon anr refund or retum oremium which may be payabk on the cancellation or terntinat'an thereaf, shaq be Rivm to other than the MortgaRee, escept by prope~ endorsement a~ed to such policy snd approved by MortqaRee. Each policy of insurance sh~ll have a~ed thereto s Standard New York Mortgagee Clause without Contribution, makinR all Mss or losses under such policy payabk to the Mortgagee as its interest may appear. in the event any sum or sums d uwney berome payabk thereunder the MortRagee sh~q have the opian to reeeive and apply the same on account of the indebtednas l~ereby secured, or to permit the MortAaqor to receive and use it. or anypa d thereof. w~hout thereby waiviaR or impairinR any uity, Uen or right unikr u~d br virtue o( this mortqaAe. !n event of loss or physical damage to the moRKaRed propertY lhe MottRaRor ~ Rive unmediate notice theroof b mail to the MoRRaRee and the MorlqaRee mar make oronf d bss if the same it rx~t made pranptly by the MatqaRor. In the evrnt of ~aWt in thls mort~aqe resultinR in (oterlosurc thercof by the Mort~agee, ot in the acquisi- tion br the MortRagee d titk to thep~op~rty sccvrcd hereby in lieu of forecbsun, all riRht. titk and intercst d the MortAaqor in and to any insurance policies rderred ro above shaU pass to the Mortgagee a its r~ominee a to the purrhaser of said property at forecbsure sale, u the ca~e mar be. ' - PAGE ONE BOUx ~~O PA~i