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PROVIDED, ALWAYS, that if Ihe MoKgagur shall pay unto the Mongagee the indebtedness evidenced by a oatai~
promissory note of which the following in words ~nd P~gurcs h a true copy to-wit:
S 6,215.00 Fort Pierce, Florida July_7th _ 19 79
FOR VAI.UE RECEIVED I~ promise to pay
~o ~he orde~ of IRA K1~PI.~N AND TE~RI KAPi AN ~ HT4 WIFF
~ hc principal sum ot ST X TN_OLIS~ND ZWO HL1Ni)I~RD SEVENTY FI VE ----------Nn / 100 I~l.(_ARS,
i~~gether with ~nterest thercon from date at the rate of twrlve percent,pe r annum until maturity, both principal and interest ~eing payabk in
~awful money of the Unitcd States at 2244 Biscayne Blvd., Miami, Flonda, or at such ~ther place ac the holden hereof may designate ~n wnting.
1'rincipal and interest payaDle in installments as follow~s:
ONE HUNDRED THIRTY ($130.00) DOLLARS per month beginning on
the 15th day of September, 1979, and continuing on the lSth
day of each and every month thereafter until paid in full.
1 his note may be prcpaid in whole or in part at a~y time upon paymcnt of a penalty cyual to fi~e(S c:) perccnt of the principal sum prcpaid.
I he loan evider~ccd by this promissary note has been made pursuant to Chapter 656,1-lorida Statutes as authorized by 681.12, Florida Statutes,
.~nd thc payee herein~hAs ~de the loan thraugh a liansec under Chapter 494, hlorida Statutes.
i ach in~tallment paymenf shall b~ crEdited first on the intcrest due, anci the remainder on p~incipal; and interat shall thereupon aase upon the
;~~incipal so crcditcd.
I he maken and endorsers of this note further agrce to w~aivt demand, notice of non-payment and protat, and sn the event suit shalt be brought
i~~r the collcction hercof, or the same has to he collected upon demand o! an auarney, to pay reasorwbk attorney's fces for makingsuch collec-
~ ~~~n.
I klrrrcd payments hcrcunJer shall bear intcrest at the ratc uf twch•r percrnt per annum from maturity until paid.
1 hi~ note is sccurcd by a mortgage of even datc hercwith and is to bc construcd and enforced according to the laws of the Stat~ of f=lorida: upon
,Irlault in the payment of principal and/or intercst when due, thc whole sum of ' uip• I and interest re i ing unpaid shall, at thc option of
~ h~ ht~lders, bccome immcdiatcly due and payabk. ~
(SEAt.)
ISEAl.1
!'~rpared by Stanley H. Spieler, Attorne~• 2240 Bisca~•ne Rhd., Miami. Florida
and shall perform, comply with and abide b}~ rach and every the stipulations,.agresments. oonditions and coveq~nts Df
said promisson~ note and of this deed. then this deed and the estate thereby created shall cease and be null and void.
1. The Nortgagur hereb}• co~enants and agrees:
(al t~, G..~~ .~11 ~n;l .in.u!ar ti~r prin.~p~l 3f~~+. intrr~,t ,rJ ~~thrr wm~ uf n~~~n.:. p.i>at~lr h. cut;:re ~~t ~aid prumts.ory nutr and this deed,
ur r~thrr. pr~~mptly ~~n thr ~=J\~ ft•1F1CiIl~l'I)' Illc' ~Jf)le' laTl'~JII} ~`Cl+~~nes,fue.
f~J I~, prtmd <<~mmit :~r wftrr s~~ ~+;~t. .ind t~~ rn i~ru:nn tre ~mpnnrmrntti ~t ~il timeti :n a state of goud repair and eondi[ion, and to do
or prrrnrt t~, t:r 1~~nr h; ,.o:d prrnu.r~ n~~thin~ that ~.i? alEer ~~r .h~~:gr tl;r u,e nnd :!~ar~iter ~~f sasd prupert~ nr in any waY impair ot
H'rekrn thr ~rcunt} ~~f rtu. m~~rt~,,kr -\nd 1't ~11Y ~~i ~hr rcfu.ei, nrglr:t ~>r ineh~l~e} ~~f the +~~~rtgagor to repair and ma~ntam sa~d property,
the Slottgagrr tnay, !ut :ipliun, makr ~;:.h :tpa~n ~~r :e~ ,a t!~r umr t•~ hr ;~»~o, and advancr rr.oneys in tha~ b~Ralf.
Ir1 10 ; .ill .+nd .~ng~lar thr te~ra. s~~rutnent+, 3rv~r~, Ii~h:hlirti, an,1 ~~hli~nti"n+ uf t~cry nature on iaid drscribtd proper[y each and
e~rn :~hrn .fue and p.+ti_ihlr a..~~r~3inF 'v Is•.ti. hefu:~ :hr•. hr.~:mc ~1~•hyurn[. aad tu urti~er [ri thr \1urt~rgce on ur hefore March 1 Stt~ of
j ra~h }rer t~ti rc.riph r:~drn.~ng tfir ps}mert +~t e!I Lntfull~ im4~~~ed te~eti fur thr ptecrdmg celrndar year;to indemnify the Mcrtgagee
; upnn h~c d.~nand fur ~II ta«~., a.cr,.mrnt. end .i:err~•. thrt ms} h~ ati~a•.~rd up~~n thn mortgage on the indnbtedness secured hereby, and
~ pa~d by th~ mort~~~trr. Hithou: rr..~rd tr• :~n} law here[uforc rnactrd <:r hercafter to hr enacted imposing payment of lht wholt or any
part thereof uW~n thr ~lortgagrr.
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E (d) (u pa~ ~II arxf +ingutar thr cu~h, char~rs and rsprmes, ~n.lud~ng la~+yrn' fees and abstract costs reasonably incutred or paid at any
timr hy thr ~1r~rt~eaRrr hecautir ~~f the fa~lurr nn thr ~art uf thr :Surtgagur w prrfurm, cumply with and abide by each and erery the
; ctipulahunc. agrrrmrntc, conditinns and :over.ants nf vid prumisaury nute and this drrd. or rithet, and every such payrteent sAall beu
; ~ntrrest fn~m datr at the ratr uf ten ( lo'r) per rentum p-r annum.
~ (c) (t ~s furthrr cumrn.~n[rd an; e~CreeJ hp ~a~J parbec tha[ in the e~ent uf ~ wit hr~ng inshtuted to foreilo~ this mortgage, the Mort-
i
e gagr~ shall hr rnu:lyd tn .~ppl~ at rn~ time prnd~ng Such fnrcclucure wit tri thr court hac~ng;uriui~itn,n thereof for the appointment of
E a rccr~~r~ all and smgular the mnrtgagrJ pruperty. and uf all rrnts, ~ncamrs, profsts, issues and revenues thereof, from whatsr~ever
~ v~urce den~rJ, and thercup~n ~t is hrrrhy r~prrti>ly c~~n~rnanted anJ agrerd that thr Court shall furthwith appoint such receiver with the
ucual p.~~+rrs and Jutirs ~~f recricrn in tik.r .i,r,, a~S sa~J appuintmrnt shall be madr by~ the court as a matter o! strict right to the Morl-
~ ga~rr, and ~.ithuut refrrrncr tu thr aSryuacy nr inadequacy nf thr val~e of the proper!y hereby mortgaged, or to the solvency or insol-
, ~en.~ uf the titurtgagnrz ur eny u[hrr party drfend3nt to such suit. The Nortgagor hereb~ specifically waives the right to object to the
~ appnlntnent uf a recrivrr as af~,r~taid end hereA} expre~sly c.,nxnts that such appumtment shall be rtude as an admitted equity and ss a
; mattrr of abwlutr riKht ar Ihe ti1~~rtRager artd Ihat the samr may be done without noUce to the Mortgagor.
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If1 If furecluwrr proceedin~t should ~+e in,e~tWrd againct the property .overcd hy th~s mortgage upon any other lien or claim whether
~ allrged tn be supenor nr ~un~or t~~ the lien of th~c mortgag~, the Slurtgagee may at his optwn immed~ately upon institution uf wch suii or
dunnR thr prndrncy thrreu( drelare th~s motlgage and thr indrhtedness secured hereb~ due and payable fortAwith and msy st its option
prucend to fuacluxe thu mort~age.
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- ~R! That thr 11~~rtgegur wd! krrp sll rr~l :ind prrv~rul prnprrh• nuvc or hereaftrr encumbered by the I~en of this mortgage insured as may
_ he rr,~mrrd hmm ~me u~ t~mr h~ thr titurtga~rr :~ge~nst loss uf f~rr, windstorm and other hazards, casualties and coMinsencies for tuch
periodc and fnt nnt Ir~s th~n wch rm~.~ntc ay may hr reyuired by the Mortgagee and to pay promptly when due all premiums for such
' mcurancr ihe am~~untc ~~f msurancr reyuired h~ thr ~lortgagee sh;~tl be thr min~mum amounts for which said insutanct shall be writlen
- and it tifial! he ~ncumbent up~n the Mottgagur to ma~ntam wch additionaf insurance as may be ntcessary to meet and comply fully with sll
cm~nsurance reyuirrmrnts c:~ntainrd in said pul~cee~ tr, the end that the said ~lortgagor is not a c~-inwror thereunder. Insunnce sh~ll be
; ~+ritten by a cumprny or cumpanirs appro~rJ ur devgnatrd hy the binrtgagee ar.d all pulicies and renewals theteof shall be held by Ihe
- Mortgagee. All detaileJ designations by the Mortgag~~r xh~ch are accepted by the ylortgagee and all agreements between Mort{a=ot and
3 '•lortgagee rrlating t~~ ~ncurance, nuw ex~~t~ng ~r~ hereafter maJe, shall he in wnt~ng and shali be a part of this mortgage a~teement as fully
as thuugh set forth ~etbat~m herein and shali gu~rrn M~th parties hereto anJ the~r succescors and assisns. No lien upon any of said polieits
? of ~nsuraner ~~r u~un any rcfund or return prcmium whech may be payable on the cancellation or ttrminatan thereof, shall be ~i~en to
other than thr ~tortgagrr, eacrpt by proper endc~rsement af[ixed to such policy and approved by Mort~ssee. Each poliey of insuranee
~ sha0 have affi+ced thereto a Standerd New Yr,rk Mortgagee C'lause without Contribution, makina all bss ot bsses under such polier
~ payable ~n Ihe Mortgagee as its ~nterrst m~y appear. In the event any sum or sums ct money become payable thercunder the Mort~a~ee
shaif ?~a.c :i~e ~~p~ir~n tu receive and apply the samr on accuunt ot the indehtedneu hereby secuted, ot to permit the Mort~s~or lo re-
~ ceivc and use it, or any part thereof, withuut thrreby waiving or impairing any eywty, lien, or riaht undet and by virtue of this mort-
~ 6~6e. In event of lou or physical damage to the mortga6ed property the Mortgagor shall give immediate notice thereof by mail to fde
Mort6a6ee and Ihe Mortaagee may make proof of loss if the same is not madt promplly by the Mottp`or. In event of forecbsure ot
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