HomeMy WebLinkAbout1182 . '
,Abstract & Title Corp• of ~~o~ida
ftEt:ElYEO = ;I. S~ M ?AYilENT Oi TAIIEA
DIIE iq Ct.: SS •C' INTl1re6'!LE PEASON!?L PROPERTY,
P11RSUi1NT t0 r•ar1P1Z't 11-_ _ i, 11LiS OF qIL
C,. : : ; ~ ; = ~ 'fit ~ ~ CtEitlt gQC~T COllRT,'ST. IYgE Ca, f3~~• -
- P.O~I~~V
MORTGAGE made the day below set forth betwe:cre the Mortgagor below named std the Mortgagex, METROPOLITAN MORTGAGE
Ct)., a Florida corporation.
W HERFAS, the Mortgagor to iadebteod to the Mortgagee as evidenced by a extiaia 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 torch is this Mortgage and the Note, including the
rc(fayment of the indebtedness evidenced by the Note. interest thereon, sums advanced Icy the Mortgagee is aexordaetce with the provisious of
rhos Mortgage to protext th+: Lien sad aecunty thereat, and iate:rest thereos, the Mortgagor dos hereby mortgage, grant sad emavey to the -
Mortgagex the real property described below toge~4eer with (a) aU ewsgm~ats, rights; tenements,.bereditaments, rears, issues std proCu
appurtenant thereto; (b) aU bueldiagt. strucxura sad improvemenu now or hereafter locatdf upon said real property. (c) aU of the following
presently attached thereto: pi phembiag features acct equipment, electrical eorduit and winag sad fixtures, heating sad cooling sect arr.
conditioning equipment sad factures, spriakhag sad irrigation equipment and fixtures, pumps, fenexs and awnings; sad (d) range. oven and
refrigtxator presently upon the premisesx all of the foregexng are hereto t+eferred to as the "Property." To have std to bob the same unto the ~ -
Mortgagee, its soooessors sad, assigns in fee simple. - •
The Mortgagor convenants that be is lawfully seized of the orate hereby conveyed acid he has tbe right to mortgage, t and convey theo-
Property, that the Property is unencumbered except u may be below noted, and that the Mortgagor will warrant and efead the title to rho
Property against all claims acct demands. -
And the Mortgagor ooveaaau acct agrexs as follows:.
1. To promptly pay whet due th_
a principal of and interest on the indebtedness evidcaoed by the Note sad prepayment and late charges as
provided therein.
2 To pay all taxes, assesstneats, charges, fines and other impositions of governmenW authority against the Property within six . (60) days .
of when due or rutty (60) days prior to the same bexoming delitiqueat, whichever may first Decor.
3. It it k noted below that this is a second or otber.subordinate ranked mortgage, then to promptly pay when due principal sad interest
owing under mortgage(s) of higher priority ("Prior Mortgage(sp~. to promptly pay to tbe holder(s) of Prior Mortgage(s) sums due on sex:oudt of
taxes and insurance premiums as may be provideed for under the provisions of tbe Prior Mortgage(s).~ard to rwise fully. promptly sad
completely keep acct perform all of the pros:•ises and eonveuanu of tbe mortgagor under Prior Mortgage(s) std the promissory note(s) secured _
thereby, all of the~oregoing without regtud any waivers, extensions or indulgences gtanteod by tbe holder(s) o! Prior Mortgage(s) artless with
the prior rnnsent of tbe Mortgagee.
4. Not to apply to, request oft receive or accept trom any holder crony Prior Mortgage any money, tends eir things of value which would,
might or could be considered as an advance sexurcd bg the hen of such Pnor Mortgage.
S. Not to commit waste or permit or suffer the impairment or deterioration of tbe Property.. not to erect or permit to be erextud any new
buildings on the Property or any structural aRerations to exispng buildings without the Mortgagee's pprior written consent; to compljr with all
subdivision restrictioue. and zoning and other regulatory laws sad ordinances affecting the Property. Itthe Property is a cordotninium unit, the
Mortgagor shaU~ promptly and completely perform all of his obligations under the declaration of cotdomuuum and the condominium
assoceaUOn's articles of incorportation, by-laws and rules and regulations and other rntistituent cotdominium documents including but not
limited to the pa nt of all rrgular 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 promplty comply wild all provisions of the declaration
of covenants and restrictions esabhshing the same and shall promptly fulfill all fits obGgauons under the emtisdtuent documents ofthe planned
unit development including the homeowners association's or its egwvaknt's articles sad 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 ewnW have pnonty over the lien of this
mortgage. ;
6. To keep all the Property insured as may be required from time to time by tbe Mortgagee agaitut loss by fire, windstorm, hazards,
~ casualties and contingencies for such penods sad for not less than such amounu as may be reasonably required b)? the Mortg~goe and to pay
promptly when due all premiums for such insurance. The Mortgagor agrees to deliver renewal or replacement poli~7es or certificates therefor to -
the Mortgagee at kart fifteen (1 ~ days prior to the expiration or anniversary date of the existing policies. The amounts of insurance r~uirevd by
the Mortgagee shall be minimum smounu for which said insurance shall be written aced it shaU_be incumbent upon tbe Mort~,agor to maintain
su.-.h additional insurance as may be nseawsary to n!eet and comply tally with aU co-insurance requirements contained in said poltctes to the end
that the Mortgagor is not a oo-insure:r th..reuider. fiisurance may be wnttea by a company or companies approved by the Mortgagee (which
approval shall not be unreasonably withbeldj and all policies and renewals shall be held by the Mortgagee unless in the possession of a holder of
a Pnor Mortgage. All detailed dexignations by tbe Mortgagor which arc aooeptod by the Mortgagee and all agreements between the Mortgagor
~ and Mortgagee crating to insurance, now existing or hereafter made, shall be in writing std shall be a part of this mortgage agretment as fully as
though set forth verbatim herein and shall govern both parties herrto. No lien upon any policy o tnsuranee or upon any refund or rctum
premium which may be payable on the canoeUation or tetmiaation tbercot shall be given to other than tbe Mortgagee except a holder of a Prior .
Mortgage or by properendorxment affixed to such puu~~y and approved by the Mortgages: Each po6ry of insurance shall have affixed thereto a
Standard New York 1~¢ortgagee'Cl:use Without Contnbution making all loss or losses under such policy payable to the Mortgagex-u its
interest may appear. !d the event shy sum or sums of money become payable thereunder the Mortgagee shall have tbe option to raxive and -
apply the same on aexount of the indebtedness secured bereby or to permtt the Mortgagor to receive and use it or any part thereof without
waiving 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
Mortgagor shall give immediate nonce thereof by mail to the Mortgagee acct the Mortgagee may make proof of loss if the same is eat promptly
made by the Mortgagor. [n the event of forecle>surc of this mortgage or other transfer of tick io the Property ail right, tick and interest of the
Mortgagor in and to the it urance policies shall pass to tbe purchaser or granter.
7. If the Mortgagor fails to perform his covenants std agreemenu conained in this mortgage. or if the Mortgagor fails to perform any duty
or obligation arising under a Prior Mortgage (including the payment of principal and / ~r interat, deposiu on :ceount of taxes and insurance
premiums and tau charges even though the holder of the Prior Mortgage has made no demand thereunder std has not thiYatenod any action in
connextion with the same), or if any actior± or proceeding is wmmenexd which materially afGxts the Mortgagee's interesu in the Property,
including but not limited to eminent domain or code enforcement ur atritigements involving a bankrupt ar dceedent, or if there is an apparent
airandorenent e>T the Property. rhea 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 e>~-racoon as the Mortgagee reasonably deeiru necessary ,
or advisable to protect fits interests in the Property, all without regard to the value e>f the Property. Any amounts disb.trsed by the Mortgagee
pursuant to the provisions of this paragraph, together with interest thereon at the rate of twelve (1296) per cent per rnniim shall become
additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in wnt:ag to same other terms
of payment. such amounts shall be payable immediately. Nothing in this paragraph shall require the Mortgagor to iQCier any expense, make any
disburse:aoeat or take: any action whatever.
8. All proceeds of any award or claim for damages direct or cunsextiiential in connection with any condemnation or say other taking by
• eminent domain of the Property or any part thereof, or for eaanveyance m bee of condemnation or eminent domain are hereby assigned and shall
be paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds reexiveod by the Mortgages shall be
applied tollr• sums sexured by this mortgage without impenitioo crony prepayment charge, and (b) the application pt ptoexeds shall not extend
or postpoite_the du?_ date of installments e>f pnncipal acct interest or change the amounts thereof.
4 Any forbearance by ibe Mortgagee in exercising any right or rceeedy hereunder or otherwise afforded by applicable law shall not be a
waiver of or preclude the exercise of such ngiai or remedy. The procurement cf insurance or the payment of taxes or other liens or char~ex or the
payment otsums utxier a Prior Mortgage by the Mortgagex shall not be a waiver e>f tbe Mortgagx's right to aexekrau the matunty of the:
indebtedtiscss taciired by this mortgage. AU remedies provided is this mortgage arc distinct and cumulative to any other right or remedy undo:
this mortgage or afforded by law or equity sad may be exercised concurrently, independently or suooessively.
10. To pry all costs charges std expenses including attorney's fees (whether or not litigation occurs and J it doES then those on appellate as
well as trial revel) and abstract costs reasonably incurred or paid at any time by the Mortgagoc because of tlr_ failure on the part of the -
Mortgsgor tb pe:rtorm. comply with and abide by all ei1 his rnveaanls set forth in this mortgage and/ or the Note and / or Prior Mortpge(s) sad
the: promissory note(s) socurcd thereby. -
11. The- f~o.-tgagoe is a licenseod mortgage broker under Chapter 0514, Florida Statutes. BfJ~ 324 s'd~
• T - _ J
8! r2 REV. 979 oPrepareed by Stanley H. Spieler, 4700 Bisayne Boukvard,~Miami, Florida