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RECEIyEO = .q0 Ill PAY1!E!tT Oi TAXES ~~~>;',t~.i:.t
OUE @Y CIASS'C' iH1;.SC'_'_~_ F.r'i,.i`L PROPERTY. _
. PUkSJ:,NT TO tHAPT:' 71- 4, d;;TS OF 1171, t - ~ .
q.LRK gnCUiT CQURi, ST, IU..IF CO.. FLA. , ,
MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
Ct)., a Florida corportation.
W H EREAS, 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 per[armance by the Mortgagor of all his agreements set forth in this Mortgage and the Note, including the
repayment of the indebtedness evidenced by the Note, interat thereon, sums advanced by the Mortgagee in accordance with the provisions of
this Mortgage to protect the lien and security thereof, and interest thereon, the Mortgagor does hereby mortgage, gent and convey to the
!Mortgagee the real property described below toge~ter with (a) all easements, rights, tenements, hereduaments. rents, issues and profits
appurtenant thereto; (b) all butldings, structures and Improvements now or hereafter located upon said real property, (e) all of the following
presently attached thereto: pI plumbing fixtura and equipment, electrical conduit and wrong and fixtura, heating and cooling and air
conditioning equipment and rf
x~tures, sprinkling and irrigation equipment and fixtura, pumps, fences and awnings; and (d) range, oven and
refrigerator Qresently upon the premises; all of the foregoing are herein refernd to as the "Property." To have and to hold the same unto the
Mortgagee, its slioocssors and assigns in foe simple.
The Mortgagor covvenants 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 be 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 ihcrcitr.
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) days prior to the same becoming delinquent, whichever may first occur.
3. If 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) of higher priority ("Prior Mortgage(s)"), to promptly pay to the holder(s) of Pnor Mortgage(s) sums due on accou1lt of
taxes and insurance prcmtums 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 convnnants 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 Pnor 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 an advance secured by the hen 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 new
buildings on the Property or any structural alterations to existing b~iildings without the Mortgagee's prior written consent- to comply with all
subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Property. If the Property is a condominium unit, the
tilortgagor shall promptly and completely perform all of his obligations under the declaration of condomtntum and the condominium
assuctatlon`s articles of mcorportation, by-laws arlti rules auu IcguiairO~w suu uuw~ ~.,.w...~..~.... a:c.,.":..e
i mired 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. if the Property is part of a planned unit development, the Mortgagor shall promptty comply with all provisions of the declaration
of covenants and restrcttons establishing the same and shall promptly fulfill all his obligations under the constituent documents of the planned
unit development including the homeowners association
s or Its equivalent's articles 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 otthis
mortgage.
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 less 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 certificate therefor to
the M ortgagee at least fifteen (I S) days prior to the expiration o anniversary date of the existing policte. The amounts of insurance required by
the Mortgagee shall be minimum amounts for which card insurance shall be written and it shall be incumbent upon the Mortgagorto maintain
i ,uch 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 Mortgagor is not a co-insurer thereunder. Insurance may be written by a company or companies approved by the Mortgagee (which
approval shall not be unreasonably withheld) and all policies and renewals shall be held by the Mortgaget unless in the possession of a holder of
a Prior Mortgage. All detailed deignations by the Mortgagor which are accepted by the Mortgagee and all agreements between the 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 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 thereof shall be given to other than the Mortgagee except a holder of a Prior
~tortgagc or by properendoisemetit affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a
~ Standard New York Mortgagee 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 scoured hereby or to permit the Mortgagor to rccetve and use it or any part thereof without
wa?vtng or impairing any equity. lien, or right under and by virtue of this mortgage. In the event of loss or physical damage to the Property the
~1 ortgagor shall give immediate notice thereof by mail to the Mortgagee and the Mortgagee may make proof of loss if the same is not promptly
made by the Mortgagor. In the event of foreclosure of this mortgage or other transfer of title to the Property all right, title and interest of the
Mortgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mortgagor fails to perform his covenants and agreements contained in this mortgage, or if the Mortgagor fails to perform any duty
ur obligation arising under a Prior Mortgage (including the payment of principal and/or interet, deposits on account of taxes and insurance
premiums and late charges even though the holder of the Prior Mortgage has made no demand thereunder and has not threatened any action in
connection with the same), or if any action or proceeding is commenced which materially affects 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 Pnor Mortgage all or parts of the sums necessary to
bring the Prior Mortgage current, may make appearances, may enter upon and sceurc the Property, may disburse such other sums (including
but not limited to the payment of insurance prcmtums 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 Mortgagee
pursuant to the provisions of this paragraph, together with interest thereon at the rate of twelve (12gn) per cent per annum shall become
additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in wrung to some other terms
of payment, such amounts shall be payable immediately. Nothing m this paragraph shall require the Mortgagor 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 Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain arc hereby assigned and shall
he paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagee shall be
a ppltcd to the sums secured by this mortgage without imposttton of any prepayment charge, and (b) the application of proceeds shall not extend
r~r postpone the due date of itlstallments of principal and rnterat or change the amounts thereof.
9. Amy forbearance by the Mortgagee in exercising any right or remedy hereunder or otherwise afforded by applicable law shall not be a
w atver of or preclude the exercise of such right or rcmEdy. The procurement of insurance or the payment of taxes or other liens or charges or the
payment of sums under a Prior Mortgage by the Mortgagee shall mot be a waiver of the Mortgagee's right to aooelerate the maturity of the
Indebtedness secured by this mortgage. All remedies pr~~ided in this mortgage arc distinct and cumulative to any other right or remedy under
f~ this mortgage or afforded by law or equity and may be exetased concurrently, independently or successively.
10. To pay all costs charges and expenses including attorney's tea (whether or not litigation occurs and if it does then those on appellate as
well as trial level) and abstract costs «asonably incurred or paid at any time by the Mortgagee because of the failure on the part of the
Mortgagor to perform, comply with and abide by all of his covenants set forth in this mortgage and/ or the Note and/ or Prior Mortgage(s) and
the promissory note(s) secured thereby.
11. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. _ 841~~~ P~~~
• ~a.
BI 2 RFV e~9 QPreparcd by Stanley H. Spieler, 4700 Biscayne Botikvard, Miami, i'tot'ida