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PROVIDED. ALWAYS, that it the Mor•~agor shsll pay unto the Mortgagee the indebtedness evidenced by a certain
proatiaory note of which the following in words and Ctgures a a true copy to•wit:
: 225.00 Fort Pierce, Florida May 23rd, 19 79
FOR VALUE RECEIVED We + _ jointly 8nd severally, ,
P P=Y
to the order of -~STHFR R11RTN remise to
the principal sum of THREE THOUSAND TWO HUNDRED TWENTY FIVE ---------NO 100 DOLLARS,
together with interest thereon from date at the rate of twelve percent. per annum until maturity. both principal and interest being payable in
lawful money of the United Statesat 2244 Biscayne Blvd., Miami. Florida, or at such other place as the holden hereof maydesignate in venting.
Principal and interest payable in installments as follows:
ONE HUNDRED FIVE ($105.00) DOLLARS per month beginning
on the 15th day of August, 1979, and continuing on the
15th day of each and every month thereafter until paid
in full.
This note may be prepaid in whole or in part at any time upon payment of a penalty equal to five(S96) percent of the principal sum prepaid.
The loan evidenced by!his promissory note has ban made pursuant to Chapter 656, Florida Statutes as authorized by 687.12. Florida Statutes,
~ and the payee herein has malt: the loan through a licensee under Chapter 494, Florida Statutes.
~ Each installment payment shall be credited first on the interest due. and the remainder on principal; and interest shall thereupon case upon the
principal so crcd?ted.
The makers and endorxra of this note furti-:r agree to waive demand, notice ofnon-payment and protest, and in the event suit shall be brought
Y the colketion hereot, or the same has to be collected upon demand of an attorney, to pay reasonable attorney's tees for making auch eolke-
uon.
Deferred payments hereunder shall bear interest at the rate of twelve percent per annum from maturity until• paid.
TMs note is secured by a mortgage of even date herewith and is to be construed and enfortxd according to the laws of the State of Florida; upon
default in the payment of primapal and/or interest when due, the whole sum of princi i t rcmai ' g unpa' :hall, at the option of
the :.okters, become immediately due and payable.
~ SEAL)
i (SEAI.j
. Prepared by Stanley H. Spieler, Attorney -2240 Biscayne Blvd., Miami, Flo "
and shall perform, comply with and abide by each and every the stipulations, agreements, rnnditions and covelunts of
said promissory note and of this deed, then ihjs deed and the estate thereby created shall cease and be null and void.
1. The !Mortgagor hereby co~•enants and agrees:
(a) 7 o pay al! and singular the principal and intrust and nthrr sums of money payablr by virture of said promissory mote and this deed,
ur either, promptly un the drys rrsprc[isrly Ihr same severally becomes due.
(b) Ire prrmrt. wmmit ur wffrr r,u wavte and to marntain the impnwemrnts at al! times in a state of good repair and condition, and to do
or permit to hr door h, paid prcmurs nothing that wit! alter ur change the use and character of said property or in any way impair or
weaken the security of this mnrtgagr. And in case of the refusal, neglect or inahrGty of the Mortgagor to repair and maintain said property,
the Mortgagee may, at his option, make such repairs or cause the same to be made, and advance moneys in that behalf.
(c) (u pay ell anu singular the tags. a>srssmrnR, levies, iiabilitirs, and obligations of every nature on said described property each and
every when due and payablr a.cording to law, before they become drliyuent, and to deliver to !hr Mortgagee on or before March 1 Sth of
rash sear lace rrcriph ecidrncing the payment of all lawfully imposed taxes for the preceding calendar year; to indemnify the Mortgagee
upon his demand for all taxes, assessments and charges that may hr assessed upon this mortgage on the indebtedness secured hereby, and
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 lawyer' fees and abstract costs teuonably incurred or paid at any
time by the Mortgagee because of the failure on the part of :he 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 tee (10`x) per centum per annum.
(e) It is further conrrnentrd and agreed by said parties that in the event of a suit being instituted to toreclox this mortgage, the Mort-
j gager shall br 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 yenta, incomes, profits, issues and revenues thereof, from whatsoever
source derived: and thereupon it u 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 tight to the Mort;
gagee, and without reference to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency of 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 consents .hat such appointment shall be made u an admitted equity and as a
~ 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 be superior or junior to the lien of this mortgage, the Mortgagee may at his option immediately upon institution of such suit of
during the pendency thereof declare this mortgage and the indebtedness xcured hereby due and payable forthwith and may at its option
~ proceed to forecbx this mortgage.
(g) That the Mortgagor will keep all real and personal property now err hereafter encumbered by the lien of this mortgage insured u may
he reyuirrd from time to time by the Mortgagee against bss of ere, windstorm and other haurds, casualties and mntingtncies for such
periods and for not less than such amounts as may be reyuired by the Mortgagee and to pay promptly when due all premiums for such
insurance. The amounts of insurance required by the Mortgagee shall be the minimum amounts for which said instuance shall bt written
s and it shalt be incumbent upon the Mortgagor to maintarn 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 ce•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
Mortgagee relating to insurance, now existing or hereafter made, shall be in writing and shall be a part of this mortgage agreement as fully
y as though set forth verbatim herein and shall govern both parties hereto and their successors and assigns. No lien upon any of said policies
of insurance nr upon any rriund or return premium which may be payable on the cancellation or termination thereof, shall bt given to
other than the Mortgagee, except by proper endorsement affixed to such polity and approved by Mortgagee. Each policy of insurance
' shall have affixed thereto a Standard New York Mortgagee Claux without Contribution, making all bss or bases under such policy
PaYablc to the htortgagee as its interest may appear. In the event any sum or sums of money become payable thereunder the Mortgages
shall have the option to receive and apply the same on account of the indebtedness hereby secured, or to permit the Mortgagor to te-
~ ceire and use it, or any part thereof, without thereby waiving or impairing any equity, lien, or right under and by virtue of this tnort•
gage. In event of loss or physical damage to the mortgaged property' the Mortgagor shall give immediate notice thereof by mail to tM
Mortgagee and the Mortgagee may make proof of loss if the same is not made promptly by the Mortgagor. In event of forecbsttre of
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