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MORTGAGE made the day below set forth between the Mortgagor belvow named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corponation.
W HEREAS, the Mortgagor is indebted to the Mortgagee as evidenced by a certain mortgage note (Note) of even date from the Mortgagor
to Mortgagee as described below.
To secure to the Mortgagee the performance by the Mortgagor of all his agreements set forth in this Mortgage and the Note, including the
repayment of tht indebtedness evidenced by the Note, interest thereon, sums advanced by the Mortgagee in accordance with the provisions of
this Mortgage to protect the Tien and security thertof, and interest thereon, the Mortgage: dots hereby mortgage, grant and convey to the
Mortgagee the real property described below together with (a) all easements, rights, tenements, hereditaments, rents, issues and Profits
appurtenant thereto; (b) all buildings, structures and improvements now or hereafter located upon said real property, (c) all of the following
presently attached thereto: pi ,plumbing fixtures and equipment, electrical conduit and wiring and fixtures, heating and cooling and air
conditioning equipment and fixtures, sprinkling and irrigation equipment and fixtures, pumps, fences and awnings; and (d) range, oven and
refrigerator Qre:sently upon the premises; all of the foregoing arc herein referred to as the "Property." To have and to hold the same unto the
Mortgagee, its successors and assigns in fee simple.
The Mortgagor coneenants that he is lawfully seized of the estate hereby conveyed and he has the right to mortgage, grant and convey the
Property, that the Property is unencumbered except as may bt below noted, and that the Mortgagor will warrant and defend the title to the ,
Property against all claims and demands.
And the Mortgagor covenants and agrees as follows:
1. To promptly pay when due the principal of and interest on the indebtedness evidenced by the Note and prepayment and late charges as
provided therein.
2. To pay all taxes, assessments, charges, fines and other impositions of governmental authority against the Property within sixty (60) days
of when due or sixty (60) da}•s prior to the same becoming delinquent, whichever may first occur.
3. I(it is noted below that this is a second or other subordinate ranked mortgage, then to promptly pay when due principal and interest
uwing under mortgage(s) o(higher priority ("Prior Mortgage(s)"), to promptly pay to the holder(s) of Prior Mortgage(s) sums due on account of
taxes and insurance premiums as may be provided for under the provisions of the: Prior Mortgage(s), and to otherwise fully. promptly and
completely keep and perform all of the promises and convezants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all of the foregoing without regard to any waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prior consent of the Mortgagee.
4. Not to apply to, request of, receive or accept from any holder of any Prior Mortgage any money, funds or things of value which would,
might or could be considered as art advance secured by the Iten of such Prior Mortgage.
5. Not to commit waste or permit or suffer the impairment or deterioration of the Property; not to erect or permit to be erected any now
buildings on the Property or any structural alterations to existing buildings without the blortgagce's prior written consent; to comply with all
subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Proptny. If the Property is a condominium unit, the
Mortgagor shall promptly and completely perform all of his obligations under the declaration of condominium and the condominium
association's articles of incorponation, 6y-laws and rules and regulations and other constituent condominium documents including but not
limited to the payment of all regular and special assessments, the liens for which against the Property might or could have priority over the lien of
this mortgage. It the Property is part of a planned unit development, the Mortgagor shall prompltycomply with all provisions of the declaration
of covenants and restrictions establishing the same and shall promptly fulfill alt his obligations under theconstituent documents of the planned
unit development including the homeowners association's or its equivalent's anicles and by-laws and shall promptly pay all assessments or
charges of every nature (no matter how designated) the lien for which against the Property might or could have priority over the lien of this
mongage.
6. To keep all the Property insured as may be required from time to time by the Mortgagee against loss by fire, windstorm, hazards,
casualties and contingencies for such periods and for not Icss than such amounts as may be reasonably required by the Mortgagee and to pay
promptly when due all premiums for such insurance. The Mortgagor agrees to deliver renewal or replacement policies or certificates therefor to
the Mongagee at least fifteen (I S) days prior to the expiration or anniversary date of the existing policies. The amounts of insurance required by
the Mongagee shall be minimum amounts for which said 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 co-insurance requirements contained in said policies to the end
~ that the Mongagor is not a co-insurer thereunder. Insurance may be written by a company or companies approved by the Mongagee (which
approval shall not be unreasonably withheld) and all policies and renewals shall be held by the Mongagce unless in the possession of a holder of
a Prior Mortgage. All detailed designations by the Mortgagor which are accepted by the Mongagce and all agreements between the Mortgagor
and Mongagee relating to insurance, now existing or hereafter made, shall fie in writing and shall be a pan of this mongage agreement as fully as
though set forth verbatim herein and shall govern both parties hereto. No lien upon any policy of insurance or upon any refund or return
premium which may be payable on the cancellation or termination thertof shall be green to other than the Mongagee except a holder of a Prior
~t engage or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a
Standard New York Mongagee Clause Without Contribution making all loss or losses 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 secured hereby or to permit the Mortgagor to receive and use it or any pan thereof without
waiving or impairing any equity, lien, or right under and by virtue of this mongage. (n the event of loss or physical damage to the Property the
tit ortgagor shall give immediate notice thereof by mail to the Mongagee and the Mongagee may make proof of loss if the same is not promptly
made by the Mongagor. In the event of foreclosure of this mortgage or other transfer of title to the Property all right, title and interest of the
`lortgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mongagor fails to perform his covenants and agreements contained in this mortgage, or if the Mongagor fails to perform any duty
ur obligation arising under a Prior Mongage (including the payment of principal and. or intcrat, deposits on account of taxes and insurance
premiums and late charges even though the holder of the Prior Mongage has made no demand thereunderand has not threatened any action in
connection with the same), or if any action or proceeding is commenced which materially a[fects the Mortgagee's interests in the Property,
including but not limited to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent
abandonment of the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessary to
bring the Prior Mortgage current, may make appearances, may enter upon and secure the Property, may disburse such other sums (including
but not limited to the payment of insurance premiums and taxes), and may take such other action as the Mortgagee reasonably deems necessary
or advisable to protect his interests in the Property, all without regard to the value of the Property. Any amounts disbursed by the Mongagee
pursuant to the provisions of this paragraph, together with interest thereon at the rate of twelve (129b) per trot per annum shall become
additional indebtedness of the Mortgagor secured by this mongage. Unless the Mortgagor and Mortgagee agree in wnUng to some other terms
ut payment, such amounts shall be payabk immediately. Nothing In this paragraph shall require the Mongagor to incur any expense, make any
disbursement or take any action whatever.
8. All proceeds of any award or claim for damages direct or consequential in connection with any condemnation or any other taking by
eminent domain of the Propcny or any pan thereof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and shall
he paid to the Mongagee. Unless the Mortgagor and Mongagee otherwise agree in writing (a) all proceeds received by the Mongagee shall be
applied to the sums secured by this mortgage without imposition of any prepayment charge, and (b) the application of proceeds shall not extend
ur postpone the due date of installments of principal and interest or change the amounts thereof.
9. Any forbearance by the Mongagex in exercising any right or remedy hereunder or otherwise afforded by applicable law shall not be a
waiver of or preclude the exercise of such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges or the
payment of sums under a Prior Mongage; by the Mongagee shall not be a waiver of the Mongagee s right to accelerate the maturity of the
indebtedness secured by this mongage. All remedies provided in this mortgage are distinct and cumulative to any other right or remedy under
this mongage or afforded by law or equity and may be exercised concurrently, independently or successively.
10. To pay all costs charges and ex~cnsrs including attorney's fees (whether or not litigation occurs and if it does then those on appellate as
well as trial level) and abRtract costs reasonably incurred or paid at any time by the Mortgagee because of the failure on the. pan of the
Mongagor to perform, comply witb and abide by all of his covenants set forth in this mongage and; or the Nute and J or Prior Mortgage(s) and
the promissory note(s) secured thereby. A_j
11. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. ~,~~,K3~9 PAGE~~ i J
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