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HomeMy WebLinkAbout2937 ' J PROVIDED. ALWAYS. that iI thR Mortgagor shall pay unto the Mortgagee the indebtedness evidenced by a txrtaio missory note of which the following in words and figures is s true copy to-wit: ?V~. r =_5.850.00 Fort PiQr~p . s Florida Av 7 9~ 19 79 FOR VALUE RECEIVED ~ iointly and severally promise to pay to the order of i i the principal sum o! IVE THOUSA E GHT HUNDRED FIFTY NO lO DOLLARS. together with interest thereon from date at the rate of twelve percent. per annum until maturity. both principal and interest being yabk in lawful money of the United States at 2244 Biscayne Blvd.. Miami. Florida. or at such other place as the holders hereof maydesignate tin wntitlg. ~ Principal and interest payable in installments as follows: i ONE HUNDRED TEN ($110.00) 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. 4 This note may be prepaid in whose or in part at any time upon payment of a penalty equal to tive(S~) 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 payee herein has made the loan through a licensee under Chapter 494. Florida Statutes. a Each installment payment shall be credited first on the interest due. and the remainder on principal; and interest shall thereupon cease upon the ~ 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 fees for making such colkc- lion. Deferred payments hereunder shall bear interest at the rate of twelve peroent per annum from maturity until 'paid. i This note is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the State of Florida; upon default in the payment of prirlclpal and/or interest when due. the whole sum of pri 'pal and interest remaining unpaid shall, at the option of the holden. become immedlately due and payable. S ~ ~ (SEAL) S r i (SEAL) Prepared by Stanley H. Spieler. Attorney -2240 Biscayne Blvd., Miami. Flort a and shall perform, comply with and abide by each and every the stipulations, agreements, ~nditions and rnvenants of said promissory note and of this deed, then this deed and the estate thereby created shall cease and be null and void. I - The Mortgagor hereby covenants and agrees: {a1 To pad ell and singular the principal and interest and other sums of money payable by virture of said promissory note and this deed, ur either, promptly on the Jays rrsprctively the same severally becomes due- (bl To permit, commit ur suffer no waste and to maintain the improvements at all times in a state of good repair and condition, and to do or permit cu hr dune m said premtsrs nothing that will alter or change the use and character of said property or in any way impair or svrakrn the security of this mortgage. And in case of the refusal, neglect or inability of the Mortgagor to repair and maintain said property, the ~lurtgagee may, at his option, make such repairs or cause the same to be made, and advance moneys in that behalf. (c? Tu pad all and singular the taxes, assessments, levies, liabilities, and oblcgatiuns of every nature on said described property each and even when due and payabtr according to law, before they become drliquent, and to deliver to the Mortgagee on or before March 15th of each >rar tax receipt, evidencing the payment of all lawfully imposed taxes for the preceding calendar year,to indemnity the Mortgagee upon his demand fur aB taxes, assrssmrnts and charges that may be assessed upon this mortgage on the indebtedness secured hereby, and I paid by the mortgagee-without regard to any- law heretofore enacted or hereafter to be enacted imposing payment of the whole or any part thereof upon the Mortgagee. (d) To pay all and singular the costs, charges and expenses, including lawyers' fees and abstract costs reasonably incurred or paid at any time by the Mortgagee hrcause of the failure on the part of the Mortgagor to perform, rnmply with and abide by each and every the stipulations, agreements, tt~nditions and covenants of said promissory note and this deed, or either, and every such payment shall bear ~ interest from date at the rate of ten (10~ per centum per annum. (e) It is further convenanted and agreed by said parties that in the event of a suit being instituted to foreclose this mortgage, the Mort- gagee shall hr entitled to apply at any time pending such foreclosure suit to the court having jurisdiction thereof for the appointment of E a receiver c,f all and singular the mortgaged property, and of all rents, incomes, profits, issues and revenues thereof, from whatsoever sourc! derived: and thereupon it is hereby expressly 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 court 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- vency 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 corrxnts that such appointment shall be made as an admitted equity and as s E matter of absolute right to the Mortgagee and that the same may be done without notice to the Mortgagor. (f) If foreclosure proceedings should be instituted against the property covered by this mortgage upon any other lien or claim whether alleged to he superior or junior to the lien of this mortgage, the Mortgagee may at hit option immediately upon institution of such suit or during the pendency thereof declare this mortgage and the indebtedness 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 personal property now or hereafter encumbered by the lien of this mortgage insured as may ~ be required from time to time by the Mortgagee again-st bas of fire, windstorm and other hazards, casualties and contingencies for such periods and for not less than such amounts as may be required by the Mortgagee and to pay promptly when due all premiums for such s insurance- The amounts of insurance required by the Mortgagee shall be the minimum amounts for which acid insurance shall be written and it shall be incumbent upon the Mortgagor to maintain such additional insurance as may be necessary to meet and comply fully with all s 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 c Mortgagee. All detailed designations by the Mortgagor which art accepted by the Mortgagee and all agreements between Mortgagor gad i Mortgagee relating to insurance, now existing or hereafter made, shall be in writing and shall be a part of this mortgage agreement u fully 1 as though set forth verbatim herein and shall govern both parties hereto and their successors and assigns. No lien upon any of said policies F of insurance ur upon any refund or return premium which may be payable on the cancellation or terminatbn thereof, shall be given to other than the Mortgagee, except by proper endorsement affixed to such policy and approved by Mortgagee. Each policy of iruutance " shall have affexed thereto a Standard New York Mortgagee Clause without Contributbn, making all bas 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 ra ceive and use it, or any part thereof, without thereby waiving or impairing any equity, lien, or right under and by virtue of fhb ttaort- { gage- In event of loo or physical damage to the mortgaged property the Mortgagor shall give immediate notice thereof by mail to tM a Mortgagee and the Mortgagee may make proof of loss if the same is not made promptly Dy the Mortgagor. In event of forecbsute of 1 t a ~t,`tr 309 a~~ 2934 - _ _ _ - - _ .