HomeMy WebLinkAbout0577 • REVISEO
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THIS MORTOAtiE OEED. ~x~cut~d th~ . d~y M . 19 .
~Y ~nA atw~w~ ~ '
p~~hr W tM Itrst pa~t. Mnln~ftK ulhd tM "M asOr". wh1eA t~nn u uNd In w~ry inatanc~. sh~ll Melud~ tM ~Awt~~~ s hNrf. ~a~tutors, sdmin•
istraton. wct~ssora. IKN hP~MMatiws ~nd ~~ftlw vWYnta~iy bY ~ a tM putMs. w Invotuntarily py op~?3- tloo M law. ~nd shall da?ot~
tM siKN aid/or piunf and tM m~scufin~ ~nd/w anin~M. anb~y~y r~l ~iid~01 ~IL~KIii ~(iQiti. 1~1tC1tY~f iftA YfNi(tYit tna conta~ct so ~eq~irss o~
sdmits. ~~d BISCAYNE FEDERAL SAVINGS ANO LOAN ASSOCUTION. d Mlaml, Flotid~. ~ co?por~tbn ~abtit?S w~d~r tM laws W th~ Unit~d Stat~s of
Am~riu. V~~bo1 tM s~oa~d DaR. Mnin~Rw u1Md tlr "Mat~a~". whkh t~rm ~s wW in ~wrY katanc~. ah~ll inelud~ tlr MIwt~KN't succ~sson.
i~a1 rspnsaibtlwa ~+d ~ui~na,
W17HESSETH. that for div~es ~ood and valwbl~ eonsid~ntions, ~nd ~ISO in consid~ntio~ W tK~ aa?qsb sum ~am~d In th~ P~KSUry not~
of w~n d~t~ M~wItA, h~in~ita d~sc?iWd tM wW M ~s~w ~s `r~nf, b~?~sin. aNl. s~Nn. ?~miw. nNas~. conwy ~nd confirm unto tM ssfd
~ 6Aatp~ in f» slmpN. NI that qrbin na~ ~stat~ of wh~ k~ tM ssW No~t`ssw 1s now s~lz~d a+id Poss~ss~d. ~^d M sctual posussio~. situat~ in
County. Stat~ of flo?id~. d~scrlE~d as follows:
'
<Oocum«+tsry stamps s}fis~d to ori~inal Not~ and csnc~liM).
To~t Mr with all stnxtuns ~nd imprw~nb now snd Mhsriu on uW nal ~stat~ and t!?~ ft:turp ~tt~ch~d th~nto. •ISO topthu with aU
and si~ la'r tM tMMn~nb. A~r~ditsm~nts, ~aaM+~~ts and sppurt~nsnces tA~nunto ONontint, w in ae~ wis~ spp~ R~inir~. ~nd th~ r~~ts. issuts.
~ and protits th~rwf. ~nd slso all th~ ~stsb, ri~At. tkle. lot~r~st and ~I{ daims and d~msnds whatsow~r. ~s wNl in I~w p in puity. ot qid MoA•
~ ~a~or fn snd to tM sam~. ~~d ~wry part ~nd parttl tMnof. ~nd slso all ps snd ~Nttric tirctur~s. r~diators. heat~rs. sk conditionins pufpm~nt.
m~ehlntry, boiN~s. rae~s. ~Iwato~s and motors, b~th tubs. sinks. wata clos~ts, wat~r Easins, pip~s, fauc~ts. ~ed otMr plumbin~ snd Mstint f~•
tuns, m~niNs, r~tri~~rstir~ plants and iw boa~s. window stn~ns. st~eM doors. weutisn blinds, stOm~ shutt~n snd ~wnir~s. aod all sddHions ~nd
r~pbt~m~nts tMr~to which ar~ now or msy M~Nn~~ p~rtsNf to w b~ us~d with, tn or on s~id pr~mbYS. ewn thou~h iMY b~ dstsch~d or d~beh-
M aDN. ati and shall b~ d~~m~d M 0~ fixtuns ~nd acc~ssbns to tM fn~hold ~nd a pa.t of th~ e~slQr.
Tp HAVE AN~ TO HOLD th~ sam~. toQ~tMr with LM tensmtnts. Mnditam~nts snd appurtManc~s, ueto~tlr~ Mortss~M in fN sknpl~.
AN~ tM Mortsyor does cowoant with tM Mwt~a~, that th~ Moat~or is Ind~i~asibly s~lz~d of s~W ?~sl estab M fa simde• ih~t tM s~id
° Moet~ijor hss tuil powra~ and lawtul riQht to conv~y said real sstale in 13• simplt as atonsaW; Nut it shall b~ lawhtl tor said fWortg~N, ~t all
Nmes, p~aceably and pui~ty to Mt~r upon. hoW, xcupy. ~nd ~njoy said real ~state: tA~t th~ pW land Is ine from ~II ~ocumbrsnces• that said
MOrt~a~ will mak~ such tuRAer sssurano~ to pari~ct th~ fa~ simpl~ titls to ssW n~l tstat~ In s~~d Mwtas~a~. as m~y nssonaDty b~ ~squired;
and that said MortQaaor dwa Asr~tiy lully warrant th~ tith ot said reai ~sbte snd will NtuW tM ssm~ asai~st tM law/ul clsims of all persa+s
whomso~wr.
NOW. THfREiORE, th~ condkion of thb moA~aee is sueh th~t N tM IWort~a~or sha11 vwll and t~uly p~y unto tM 1Aort~sQe~ tAs ind~badn~ss
avldMC~d ~y that e~rtsin pramistory not1. of ev~n d~t~ Mr~witA, made by th~ Mort~s~or and psysbN to tM MortQa~ee, in tM pnncipal sum of
DOILARS (t to~eth~r
with inbnst as tMr~ie~ sta4M, a~d shall p~riorm, tomply wiM and sbid~ by ~sth ~nd twry ot tM ttipulations, a~r~em~nts, tonditians snd covena~ts
conUirnd snd sst forth in this mort~a~ u~d in tM promissory not~ secund MnEy, th~n this mortQsp ~~d th~ ~st~t~ Mr~by created shall usse
and b~ nuU ~ed void.
AND tM ssW Mo?t~s=or dws tovsnant and a=rN:
1. To ptrfom+. eanplY with and sWd~ by ~ach and wary of th~ stipulstbns, sQlrwn~nls, caMRbns and covensnts in said promiswry note.
To psy sll and sin~ular th~ principsi ~nd inb~st and oth~r sums of momy psYaDb Dy viRw of ssid promiswry nots and/or th~ prov~sio~s herein.
promptly on tM days nap~ctivdy tM ssm~ sw~nlly becom~ dw. Th~ mstnnty o( saM p.omissory not~ may be mor~ tnan twenty (20) years from
tM dats Mnof ~~d. N thb moRQs~ hss eot b«~ satisiisd oi ncord within twenty (20) y~an irom th~ dat~ MreoR sll persons aro ~allsd upon to
inpu+n of th~ hOld~r1 of this md~t~s~e conc~min~ maturity. '
2. Th~ prop~rty eneumb~r~d by this moR~~t ic a• unit M• condominieum toettAe? WItA ippYfllMflCK th~nto. Tha /ailurr of th~ Idora
gssor w tM tailun o~ th~ Associstion r~sponsibte for th~ op~?ation of the condominium, to obs~rve sll of th~ provisions of tM Declsrstiw~ of Con-
domtnium and by-laws. undar which the condomMium has bttn ~sbblished, w th~ failurs ot ~kMr to p~rform th~ir rKpactive obligstions tMraunder
ahall ca~stitub a dNsutt under this mort~aQ~: snd in tM ~wnt o/ such d~isuk. th~ M~is m~Y. st its option. in+mtdistely or theresfes~. and
witlwut ~otiq, d~tlan all sumf Ot mwwy a~tund A~rtby dW ~nd paYabl!• Wilhin t~n (1 days ~R~~ tha dat~ tor tAt piym~nt o/ any a:s~ssm~nt
o? any nq u~r~d p~rfom?ane~ by MortYssor und~~ the 1sm+s oi tha Osclsntron W Ca~do~nin{um. by-laws of tR~ condo~+inwm sssociatia+. or •ny
otMr re~ulations rNsti~ to th~ tondorninium, but ~ot lass than ten q0) days prior to th~ ~xpiration of any arsc~ p~riod tor such psymtnt or ptr-
fwm~no~. Mortpa~or will furnish svidanc~ of eomplisnct sstisisctory to th~ Mort~ase~, and th~ fsilure to do so shsll co~st~tute s defsuk under this
mortQa~. ShouTd Mort~aQor hil to Par P.o~?~~cy w~»n aw sny assessmtM or other obliQ~tion rpuired to bt paid punua~t to the Daclarstion of
Condominium or to said by-laws. htort~~N may st any tim~ pay th~ san» witlwut wsivint or affectl ths option to toreclos~, w sny riQht here-
und~r, and ewry psym~+~t so mad~ shall bear intertst Irom tM dat~ th~r~of at t!y rat~ of t~n p~r cent~l0%) ptr snnum.
3. In tM wu~t Mort~s~or, insunnc~ trust~e, condominium sssoci~tion. o~ ~ny otMr pNSOn or ~ntity havi~ tM ?tspontlbillty thsntor,
sh~tl tsil to Icaep th~ rra) and personal property now or Aeresfter ~ncumb~nd by tM IMn of this mo a~ insurM as msy b~ nquired from time
to tim~ a~ainst loss by flrs, windstorm and otMr Aua?ds. esw~lti~s snd eor?ttnt~nei~s tor s+reh P~~ aed Iw not Nss tha^ sueh smounts ss
m~y b~ tequind by M~ MOrt~sQ~e. aod to pay prompfly wAen dw sll pnmfums tor weh inwrsnw th~n. ~nd in thst w~rh. snd st tM option of
tM Mor~, such failun shsll constitute s bnsch oi thls mort~sp snd shatl Imm~dbt~y matun tM ~ntin sma,~t ot a~c~w~ snd u~t~r~st
h~nDy s~tutid. •nd Mort~s~ may institub prooe~din~s M forsclos~ Mb mortp=t. Inwranu shsll 0~ writtan by s company or compsnies ~nd
throuQh sn s~~ncy approv~d by th~ Mort~~~ TM amount: tor which such inwrsnu sA~ll 0~ written msy bs ~reste. ~han thos~ rpuirW by the
Mwtsa~N but In ra twrN shall tM sam~ D~ less thsn the ~rnounts rputnd by tM Mo~M. ~t shsll b~ fncumb~nt upo. th~ MortQs~or to mainUin
such additional insursnc~ as may be nec~ssary to m~et snd comphr fu~y wNA ~II oo~inwnnc~ ?equinm~nts contsined in ssid Pak~s to tM end
thst th~ Irtort~a~or is not s co-insunr thereund~r. MY set~ctton of I~u?snu oon+W~Y ~•~Y m~ bY t~ MortpQor. inwnnc~ tn~stN. condo-
minlum ~ssoeiatan. o? any othar penon or ~ntity Aavm~ tha napw~sibility tMr~for. whicl~ ~ acuPR~d bY tM Mo~~¢K. and all s~r~ertw~ts Oa
twe~n s~ryr of th~ foreQoing and the Mo?tQag~e r~~atin~ to insursnce. ~ow ~xbti~ or Mnatbr mad~, shall b~ in wrrltns and shall be s pi~t of
this mort~a~ da~d ss fully as thou~h set fortA verbat~m Mraln snd shall Qpv~m both psrti~s h~reto •nd thN? successors snd sssiens. No lien
upon a~y of said polieies of insurs~u w upon any niund or ntum pnmhrm. wAieh may b~ payabb on tM unoN~stion or t~.minstion tAereof.
shall b~ Qiv~n to oth~r than tM Mort~a~ea. ~nupt by Prop~r ~ndorsement aHi~sd to such policy and spprov~d by th~ Mort~a~e. Each polity oi
insunna sAall h~w aHf:ed thereto s Stsndard N~w York Mo.tQa~ Claus~ witAOUt eontribution. maklns all bss or losses und~r such policy psyable
eith~r to sn fnsursncs trus4et o~ to the Mort~sQ~e as its int~r~st msy sppear, provid~d, that se~y IrKUrsnw trust s~r~em~nt sh~tl b~ in writina snd
shsll haw b~en approv~d by tA~ IriortasQe~ Ttie shan of th~ Mortga~or N tM p?oetWs p~id to a+ i11~Uf~11C~ tNfLN shsll b~ beld tn t~ust by thc
~nsunnce trusMe tor tM Mort~sQN, ss its intarost may sppsar. In th~ ewnt any mon~y D~com~s WY~a~ irom insunnc~ proceeds to dtortQago.
t or to Mo~spo? and I~Aortiai~e. IrtwtYS~N sAStl haw tM option to ?ec~iw and ~Qpty tM sam~ on acount of th~ irM~btednass Aereby secunrd. err to
p~rmit MortQs~or to r~ceivt snd use lt, or ~Mr part th~rsof, without tMreEy waFnnQ or impsirins any puity, lien or ryFht under and by viRue of
this mortQaQe. In the tvent ot loss or phys~csl dsmsQe to tAe ~no~aQed propeRy. MortssQor shall sive imm~dist~ ratice thereof by msil to Mort-
~ Qs~e and IrlortQa@ee msy mslae pfoof of loss if the ssme is not rnsae prompt~y bY Mo?t~sQor, condwni~ium sssociation or sn insursnce trustee.
i In ~veM Of toreclowra of this mortQsQe, or other transter of titlt to t1n mortQs@W P?eDeRY in extinQuishmtnt ot the lien of this mort~s~e. s:l
; .iQht, titl~ and int~rest ot Mortss~or in and M sny insursnc~ policies then in forc~ shsll psss to tM purchase? or ~nntq.
s In ord~r M mon tully probct the seeurity ot this mo~tga~e, and to assun tl» paynn~nt of urtsin obligstions related to the mo.t~aged
prop~rty, th~ ~Aort~s~or. to~~thtr with snd it~ ~ddition to ths monthy psyments und~r tM terms oi th~ not~ s~cur~d hereby on tt~e Wyment dstes
of tM said note and untH th~ said note ts futy psid. shatl psy to tM 6AoRp~e~ rrwnthhl ~ ~dwnte th~ equivsNnt of one-twa~Rh (l/121 of the annwl
premiums that will n~xt become dw and payaDls oe polkhs of lip Insuranc~. tir~ and oth~r hszard Imuranc~ cov~rinQ tM mo.t~s~sd proWRY:
tasas ~nd assessm~nts rN~ct dw on tM mort~a`ed propeRy: and other cha ~s upon th~ nsl ~stah s~curinQ th~ toan, sll ss estimstsd ~y the
Mortassw. so ss to ~nsbte tM Ido~t~saN to pay such chs.~s as tlry~ dw- TM amou~t ot such ma+thy ehs~s maY b~ N~cnased
or dscnss~d so as to nason~bty prwidi fo~ tM payment ot th~ astim~t~d aenwS insurann p?~miums, taa~s. ~ss~ssm~nts aod other eA~r~s. The
MortQat» shall haw tM ri~M to d~posk wch tund: to ks pnenl ~count ~nd M cominab tl»m with ks awn funds snd ~dvsnu lib smounts
fo. trN pu~DOS~s :ht~d. and/o~ etidR sucb fund: ~s r~aiwd to .n aecount of tM Mortptor and sdvano~ a Ii1M smount to. th~ vurvo~s stst~d.
~ In tly ~nt that tM moethly paym~iKS ~ctwlly mad~ by tM Mwtpsor ss nquitid r~der thls p~rssqph o~ und~r sny other provision hanoi an
not sdpwtt to fuily pry sll o/ tl» setusl arnounts requitrd tor insur~nn permlums, ta~us. ass~ssm~Ms snd othN eMrps. wh~n due. then tAe
MortQa~ shall h~v~ tAe ri~ht to sdv~no~ such sdditional sums ss an actusly nquir~d snd M~ amount so sdvanc~d shatl become immedia0ry
~ dw snd psysble from the Mart~sQor to tht Wo?tQsQe~ and sh~ll De s~cund by tM Morttap iriM th~ s+nN P?io?itp ~s tM o~iBinsl smount advanwd
~ fromrtM dat~ trhere / st
tht~rsti of~tsin pir
c~iot (10%) p~r snnum~rThe
Mortgs ~r sh~sll W not~ifM~d d tM ryamwou~ Wri~ ~r~th~psra~raph
and the ~stimstas mad~ by tM Mortp~e~ h~nund~r shsll b~ conelusiwy bi~d~ upon al1 psrtin• Th~ 1Aort~s~e~ shsll haw no obli~stion to pay
int~rest, esrntngs or otMr incrarrNM to tAe borrowar upon the payn?ents msd~ w?edutr~d h~nund~r, nor M lnwst ths same for th~ bfRlftl of
th~ MoA~sgor. Th~ Mort~aje~ shall Iwap a record of the sbtus W th~ insu?snu pre+niums, fsxq, asses~m~MS snd ot1Kr char~tf n4uind to be '
psid IMreund~r_ .
~ C~ S. The Mort~s~e may sct. in any snd sll events in which disputes and/or issws arlf~ r~ardirta this mo~~~ or tM nM~ s~eured henby
or psymants to be madt under ekMr documen4 upon the sdvica M cou~e~• ~~Y inst~nc~ in whkh the Matas[N eo~suRs cou^x~ i^ eo^^Kt'on
with same, whather or iat incident to liti~stan. then the Mortgsgor shatl M responsiDl~ (or tM psymeM o1 r~ssalabN stWrn~ya' tNS. Th~ MoK-
a
gagw shsll pay all snd singular tAe costs, chargas anA e¦penses reasonaby incurnd or pald st sny time by ssid Mo?t~age~ becsuse ot the /silure
on tM psrt o/ tM A~OrtSsBur to perto?m. comptY witA snd sbide Ay eseJ~ snd tvery of the stipulatbns. s6?~tmsnb. ~onditions and tovenants of
~ said promiswry note snd/or tl?e provisions haro~n. snA slso sh attorne~n• fees incurred ss set torth Mnl~, snd M~ MortQagee shsll Aave Me
right, at its option, to ~dvsnoe sny such sums snd such advancements shall Desr intsrest from th~ date(s) thereof st ths rste of ten per cant (]0°,)
~ per snnum.
6. Nekhsr Mort~agor nor tha ca?dominium association shsll permit. commit or suffer siry wsstt, impslrment or dateriorstion oE ssi~! {xope~tY.
~ or any piR th~roof. Upon any tsiiure to keep said DroP~rty N? 8~ ~~~b^ o~ repair, tiAo~
s~ may demand tM Imm~diste npsir of said prope~ty
~ or the ~mmediste npayment ot the debt hercbx secured. 'The hilure of Mortgsgw tor a p~?iod of thtrty (30) days, to complY with sny such d~mand
~ or to causa tAe mort~sgsd p~operty to be rwpaired, shsll eonstitute a brexh ot Mis mortQs~e: and, at the optio~ o/ M~ Mortgsg~~. shall immedistely
mature tha entin amount ot principsl snd irterest nereby secured, and imm~distely ~nd without notice. Mortgag~a msy Institut~ proeeedinQs to fore-
'Y dose this mortasge snd spply for the appointment ot s rccaiver, ss hereinaksr specHieA.
~ 7. In th~ ev~nt any or all ot ssid property sl~all be pe?msne~tly or temporarily tslo~n Dy sny publie suthority by viAue oI eminent domain or
a s~milsr power, all proceeds ot such taking shall be paysble to the Mort~sgee. arW. upon reoelpt thatiof. the MoR~agee shaN sp~ty s•xh Proceeds
to th~ psyment of p?ioeipal then due under said oromissory rate. The MonQa~ee shall haw no duty to eollect such. proceads, buY it the hlortasgee
~ is made a party to the proceedings instituted for the taking, or is requir~d to take sny st~ps to protKt its int~rKts, tM costs snd ~ss~nsble
~ attorneys' fees thus incurred Dy the Mo.tgsg~e shall be refmbursed by th~ hlort~sQor to th~ MortQaset immMiatdy on d~mand, s/d until so reim-
~ burs~d shall bear interest at the rab ot ten per cent (10%) p~r annum from demand, and sns1l b~ s~cu?ad bp tM IiM of.this mortQap.
8. Th~ Mort~a~. at any tim~ p~ndins a suk upon thit mort~aQ~, m~y sppy to th~ eourt hsvin~ jurisdittbn tM?eof lor tAe spDOintm~M of
~ a receF~er, and shsli haw tM riaht to f~ave sueh court (oRhwith sppoiM • no~hrtr of the prtmises eov~r~d h~r~Ey, all snd sin~ular, inel~ir~ tAe
T nenLS, income, p~ofit5, issues. and revenues from whatever souce derived, esch and every of which, it bafng ~xpressy undentood, is henby mortgsQed.
y as H sp~cNiully xt tortl+ i~d desc.ibed 1~ Ihe granting snd habsndum clauses hereof. Such appointment shall be msd~ Dy such court as an sd~
~ mitted equity and a matter ot abso~ute right to said lutortgsga~, snd without reference to the sdequacy or inadsquscy of tM value of tM p?opertlr
mortgaged or to the solvency o~ inwtv~encr oi said Mortgagor or tAe defe~dants. Such rents, profits, tneom~, lasues. ~~d ?~w~ues shall b~ sppli~d
~ " SJfA recei:e. accordi~g to the lien of this r.~c.'Fage and tha prsctice of sucb court. In the went of sny Oetault on th~ psrt of tIN MortgsQo?
C~e nereunde?. tbe Mortgagor aarees to pay to tne MorlYsgee on d~mand as • r~ssonsble momhy rental Ior tM premis~s. an smount st Msstpuivslent
to one-twelfth (1/72th) ot the agg~egate of the twelve mo~thly instslirtKnts p~Y~ble in tM tMn eurr~M ytar plus tM ~ctusl amount ot the snnusl
ta¦es. sssessm~nts, utilit ?stes. and insu~ance premiums tor such ye~r not eowtiE by the afor~saW mo~thh Wr++~^n-
~ y .
~ ~ This instrument Was Prepared By:
~ r . } ~ic ~ PA~~.~ M~ ~ ~
s,~ MICHAEL C. SLOTNICK
Pallot, Poppell, Goodman d~ Shspo
~ ~ 1504 Alfred f. duPont Bldg.. Miami. Fla. 33131 e~
~ +~r. 1~4 P~ ~2J p~ ~C~ Pat~ 5~ l
~ BOL.
.
~ ~ _
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