Loading...
HomeMy WebLinkAbout1995 it ~ ~ ~ }t'•~ MtOVIDED, ALWAYS, that ii the Mort=agor shall pay unto the Mortgagee the indebtedit~ss ~nced ~ a txttailt proatiuory? Dote of which the ftyllowing in words and t'gttrts is a true copy tawit: 11.625.00 Fort Pierce, Florida March 17, lq 79 FOR VALUE RECEIVED WE ~ io int lv and severe 1-1 y promix to pay t,t the order of IDA HABIB t'tc principal sum of ELEVEN THOUSAND SIX HUNDRED TWENTY FIVE - - - - - - - -NO/ 100 DOLLARS, rgclher with interest thereon from date at the rate of ten percent, per annum until maturity, both principal and interest bein6 ~.t~:tble in lawful money of the United States at 2244 Biscayne Bled., Miami, Florida, or at such other place as the hdders hereof .try designate in writing. Principal and interest payable in installments as fullowc: TWO HUNDRED FIFTY ($250.00) DOLLARS per month beginning on the 15th day of June, 1979, and continuing on the 15th day of each and every month thereafter until paid in full. 1'hi. nrrtc troy be prepaid is "hate or ut part at any time upon paytwrnl of a prnahy equal to curt pertxnt of the pritteipal sum prcpsid. Fach installsrnt paywenl shall ere credited first on the interval due, sad the rrtnainder an principal; and lateral slsall thereupon ceaee ttpow prirtcipalsocredited. 71re ptalers and endorsers of this note further agt•ce to waive demand, notice of nun•paytaettt and protest. fwd in dte erestt resit shall be brottgltt • •.r the cdlertion hcrcasf, or the same has 1u be cdlected uprwt demand of an alturttey, to pay rcasotsable attorney ,tea tar raakirtg loth eullertiott. Ikferred paymenb hereutsder shall br+ar interest at the rate u( ten percrnt per annum from enatttrity until paid. "1?tis note a secured by a mrxtgage of e•scn dale herewith and is to be errrtstrued and enforced aCeordia~ !o Ilse lath of the State of Florida; upwt fault in the paymrnt u( printtipa) andRsr intrwst when due, the whole satyr of principal and interest rem ' rwpaid shall, al the option of the ,,adrrs. become immediately dac and payable. . ~ (SEAL) (SEAL) 1'rrparcd by Stanley H. Spieler,~Attrrrney- 2~lll ltiscayne lllyd., \fianti Florida artd shall perform, comply with and abide by each and every the stipulations, agreements, conditions t~trenanb of said promissory note and of this deed, then this deed and the estate thereby created shall cease and be null and•~oid. 1. The Mortgagor hereby covenants and agrees: (a) fo pa> all and singular. the pnnc~pal arnl htrrrst and other sums of nx~nry payable by virture of sa?d promissory note and this deed, or either, promptly un thr days rrsprctisrly the same srvrrally hecomes dur- (61 Tu pcrmit, commit .~r suffer tai waste and to matntain the impruvrmrnts at all times m a state of good repair and condition, and to do or pcrmit to hr door to said prem~srs a~thing that will alter or change the use and character of said property or in any w•ay impair or weaken the security of this mortgage. And in case of the refusal, neglect of inability of the Mortgagor to regir and maintain said property, the Mortgagrr may, s1 his opnon, make ,such repairs or cause the same U~ be made. and advance moneys in that behalf. (c) To pay all and singular the taws, itfessmrnts, Irvirs, liabilities, and obligations of every nature on said described property each sod every when due and payahle arordireg to law•, before they become de8yuent, and to deliver to the Mortgagee on or before March 15th of each year lax rccripts rsidcnung the payment of all Lawfully imposed taxes for tfie preceding calendar year;to indemnity the Mortgagee upon his demand for ell taxes. assessments and charges that may be assessed upon this mortgage on the indebtedness secured hereby, and paid by the nrurtEagee. without regard to any law heretofore enacted ar hereafter [o be enacted imposing gymenl of the whole or any part (hereof upon the Mortgagrr. (d) To pay all and singular the cults, charges and ezprnxs, including lawyers' fees and abstract costs reasonably incurred or paid at any time by the Mortgage hrcausr of the failure nn the part of the Mortgagor to perform, rnmply with and abide by each acrd every the j stipulations, agreements, conditions and covenants of said promissory note and this deed, or either, and every such payment shall beu [f interest from date at the rate of rep (i 0~•) per centum per annum. f " € (e) It is further convenan[rd and agreed by said grties that in the Brent of a suit being instituted to foreclose this mortgage, the Mort- gagee shall he entitled to apply at any time pending sucA foreclosure suit to the court having jurisdiction thereof for the appointment of a receiver of all and singular the mortgaged property, and of all rents, incomes, profits, issues and revenues thereof, from whatsoever wurce denvrd: and thereupon it is hereby expressly convenanted and agreed that the Court shall forthwitA appoint such receiver with the usual powers and duties of receivers in bke cases; and said appointment shall bt made by the court u a matter of strict right to the Mort- gagee, and without reference to the adequacy or inadequacy of the value of the property Hereby mortgaged, or to the solvency or insol- ~ rency of the Mortgagors or any other putt' defendant to such wit. The Mortgagor hereby speciTically waives the right to object to the appointment of a receiver u aforesaid and hereby expressly consents that such appointment shall be made as an admitted equity and as a matter of abwlute right to the Mortgagee and that the same may he done without notice to the Mortgagor. (f) If foreclosure proceedings should he instituted against the property courted by this mortgage upon any other lien or claim whether e alleged to he superior or junior to the lien of this mortgage- the Mortgagee may at his option immediately upon irutitution of such suit or during the pendency thereat declare this mortgage and the indebtedness secured Hereby due and gyable.forthwith and may at its option proceed to forecbse this mortgage. (g) That the Mortgagor wal keep all real and perwnal property now or hereafter encumbered by the lien of this mortgage insured as may f be rrywrod from time to time by the Mortgagee against bss of fire, windstorm and other hoards, casualties and contingencies for such pere~ds and for. oat less than such amounts as may be rcyuaed by the Mortgagee and to pay promptly when dot all premiums for such - insurance. The amounts of insurance required, by the Mortgagee shall be the minimum amounts for which said insurance shall be written and it shall be Incumbent upon the Mortgagor to maintain such additanal insurance u may be nectssary to meet and comply fully with all co-insurance requirements contained in said policies to the end that the said Mortgagor is cwt a co-iruuror thereunder. Insurance shall be written Ay a company ar campanres approved or designated by the Mortgagee and all policies and renewals thereof shall be held by the • Mortgagee. All detailed designations by the Mortgagor which are accepted by the Mortgagee and all agreements between Mortgagor and Mortgagee relating to insurance, rww• existing or hereafter made, shall bt in wYiting and shall be a put of this mortgage agreement as fully p ai though set forth verbatim heron and shall govern both parties hereto and their successors and assigns. No lien upon any of said policies of insurance ar upon any refund or «turn premium which may be payable on the cancellation or termination thereof, shall be given to r other than the Mortgagee. except by proper endorsement affixed to such policy-and approved by Mortgagee. EacA policy of insurance shall have affixed thereto a Standard New Ycrk Mortgagee Clause without Contribution, making all bss or bees under such policy gyabte to the Mortgagee as its interest may appear. In the event any sum or sums of money become payable thereunder the Mortgagee shall have the option to receive and apply the same on account of the indebtedness hereby secured, or to permit the Mortgagor to re- j ceive and use it, or any part thereof, without thereby waiving or imgiring any equity, lien, or right under and by virtue of this mort- ~ gage. fn event of bu or physical damage to the mortgaged property the Mortgagor shaft girt immediate notice thereof by mail to the z Mortgagee and the Mortgagee may make proof of loss if the same is not made promptly by the Mortgagor. In event of forecbstue of ~ t • ~ R c~ E, 8CG!! JUs ~~~19 _ _ .