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Home My WebLink About2778 1 t rROVIDED, ALWAYS, that if the Mortgagor shall pay unto the Mortgagee the itdebtedues: etlidertoed ?y f eataia ptrorniaaory note of which the following in word: and figures b a true copy to-wit: ' ./V~ t _ QQ Fort P ierc e- s tloritia Me ~ 9 s 19 - SI2~1r FOR VALUE RECEIVED i~1E} i-Tointly and severally promise w pay to the order of SAM POMER_AN'1'~ s;tT3 ROSF PQ~(,FRA~Z-T-~IIS T~IT~ lOOOpLLARS, the principal sum o! together with interest thereon from bate at the rate of twelve percent, r annum until maturity. both principal and'interest being payabk in lawful money of the United States at 2244 f3iscaytx Blvd., Miami. Florida, or at such other place as the holders hereof maydesignate to venting. Principal and interest payable in itutallments as follows: TWO HUNDRED FIFTY ($250.00) DOLLARS per month beginning on the 15th day of July, 1979, and continuing on the 15th day of each and every month thereafter until paid in full. i This note may be prepaid in whole or in part at any time upon payment of a penalty equal to five (596) percent of the principal sum prepaid. The loan evidenced by this promissory note has been made pursuant to Chapter 656, Florida Statutes as authorized by 687.12. Florida Statutes, and the paytx herein has made the loan through a lioetuee under Chapter 494, Florida Statutes. ~ Each installment payment shall be credited first on the interest due. and the remainder on principal; and interest shag thereupon coax upon the i principal so crcdlted. - The makers and endorsers of this note further agree to waive demand, notice ofnon-payment and protest, and in the event suit shall be brought for the collection hereof, or the same has to be collected upon demand of an attorney. to pay rcasonabk attorney's foes for making such collec- t lion. Deterred payments hereunder shall bear interest at the rate of twelve percent per annum from maturity until paid. This note is securod by a mortgage of even date herewith and is to ho construed and enforced according to the laws of the State of Florida; upon . t)efault in the payment of prittclpal and/or interest when due, the whole sum of p ' ipal and in est rc fitting unpaid shall, at the option of the holders, become immedtately due and payable. ' ~ ~ ~ _ / (SEAL.) S ~ 7~f/. Ilrti`~1~. (SEAL) Prepared by Stanley H. Spieler, Attorney - 2240 Biscayne Blvd., A~iami, lorida and shall perform, comply with and abide by each and every the stipulations. agreements, conditions and twvenants o! said promissory note and of this deed, then this deed and the estate thereby created shall cease and bt null aad void. 1. The Mortgagor hereby covenants and agrees: (a) Tu pay all and singular the principal and intrust and other sums of money payable by virture of said promissory note and this deed, or either, promptly un the days rrsprcUvrty the same severally becomes due. (b) To permit, commit ur surfer nu waste and to maintain the improvements at all times in a state of good repair and condition, and to do or permit ur be door to said pumisrs ru,t hing that will alter ur change the use and character of said property or in any way impair or weaken the security of this mortgage. And in case of the refusal, neglect ur inability of the Mortgagor to repair and maintain said property, the Mortgagee may, at his option, make such repairs or cause ihr same to be made, and advance moneys in that behalf. (c) To pay all and singular the taxes.. assessments, levies, liabilities, and obligations of every nature on said described property each and every when due and payable according to lass, before they become deliyuent, and to deliver to the Mortgagee on or before March 1 Sth of II each year tax receipts evidencing the payment of all lawfully imposed taxes for the preceding calendar year;to indemnify the Mortgagee ~ upon his demand fur all taxes, assessments and charges that may he assessed upon this mortgage on the indebtedness secured hereby, and I paid by :he mortgagee, without regard to any law heretofore enacted or hereafter to be enacted imposing payment of the whole or any part thereof upon the Stgrtgagre. i (d) To pay all and singular the costs, charges and expenses, including lawyers' fees and abstract costs reuonably incurred or paid at any time by the Mortgagee hrcause of the failure on the part of the Mortgagor to perform, comply with and abide by each and every the ! stipulations, agreements, conditions and covenants of said-promissory note and this deed, or either, and every such payment shall bear ~ interest from date at the rate of rep (IO;i,) per centum per annum- (e) It is further consenanted and agreed by said patties that in the event of a suit being instituted to foreclose this rrtortgsge, the Mott- l gagee shall he entitled to apply at any time pending such 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 derived: and thereupon it is hereby rzpressly convenanted and agreed that the Court shall forthwith appoint such receiver with the usual powers and duties of receivers in like cases: and said appointment shall be made by the mart as 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- e vrncy of the Mortgagors or any other party defendant to such wit. The Mortgagor hereby specifically waives the right to object to the appointment of a receiver as aforesaid and hereby expressly consents that such appointment shall be made ss an admitted equity and as a matter of abwlute right to the Mortgagee and that the same may be done wiihout notice to the Mortgagor. ~ (f) If foreclosure proceedings should he instituted against the property covered by this mortgage upon any other lien or claim whether t, alleged to he superior or junior to the lien of this mortgage, the Mortgagee may at his option immediately upon institutan of such suit or during the pendency thereof declare this mortgage and the indebtedneu secured hereby due and payable forthwith and may at its option proceed to forecbse this mortgage. (g) That the Mortgagor will keep all real and perwnal property now or hereafter encumbered by the lien of this mortgage insured as may s be rryuired from time to time by the Mortgagee against bss of fire, windstorm and other hazards, cuualties and contingencies for such per~,ds and for not less than such amounts as may be required by the Mortgagee and to pay promptly when due all premiums for such i 4 insurance. The amounts of insurance required by the Mortgagee shall be the minimum amounts for which said insurance shall be written and it shat) be incumbent upon the Mortgagor to maintain such additional insurance u may be necessary to meet and comply fully with all co-insurance requirements contained in said policies to the end that the said Mortgagor is not a co•insuror thereunder. Insurance shall be written by a company or companies 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 2 Mortgagee relating to insurance, now existing or hereafter made, shalt be in writing and shall be a part of this mortgage agreement as fully u though set forth verbatim herein and shall govern both parties hereto and their successors and auigns. No lien upon any of slid policies of insurance qr upon any refund or return premium which may be payable on the cancellation or termination thereof, shall bt given to r other than the Mortgagee, except by proper endorsement affixed to such policy and approved by Mortgagee. Each policy of insurance f shall have affixed thereto a Standard New York Mortgagee Clause without Contributan, making all bss or bases under such policy payable 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- ceive and use it, or any part thereof, without thereby waiving or impairing any equity, lien, or right under and by virtue of this mort- x gage. In event of bss or physical damage to the mortgaged property' the Mortgagor shall give immediate notice thereof by mall to t11ti ~ Mortgagee and the Mortgagee may make proof of loss if the same is not made promptly by the Mortgagor. In event of fotecbstue of avR~ X09 ~~.,:2775 - i ~ - - _