Loading...
HomeMy WebLinkAbout2102 ~ _ . - - - OUf t1N t~St y» p11~tt11E PEASOMAL Pl10PEN?'f. c'y 4~"~~dA 1'UASOANi TO GNAPTfg 11•t:a, Arai Of lY1t. , . . _ , txcwc n~cwt cotwT. st. tll~E so. ~ ~ F• ~ : ~ ~ t„~: t , - - - : j- - - _ _'s'-'-s _ 1 ~ MORTGAGE made the day below set forth between the Mortgagor blow named acct the Mortgagee, METROPOLITAN MORTGAGE CO., a Florida corpartation. - W HEREAS, the Mortgagor is indebted to the Mortgagee as evideaeed by a certain mortgage aou (Note) of even date from the Mortgagor to Mortgagee ss described below. To secure to the Mortgages the performance by the Mortgagor of all his agreement: set forth is thi: Mortgage and the Note, ind repayment of the indebtedness evidenood by the Neu, interest thereon, sums advanced by the Mortgagee is accardaace writh the pro ~ o[ rtes Mortgage to protect the lien gad security thersof, and iatersst thereon, the Mortgagor does hereby mortgage, grant and convry to the Mortgagee the real Property described below togerper with (a) all casements. rights, tenements, hrredilameats, teats, issues gad~ pprofits appurtrnaat theret0. (b) all buildings, structures gad improvements now or hereafter located upon said real property, (c) all of the foUoweng presently attached thereto: popes. plum ' fixtur+ea gad equipment. eloctripl conduit and wiring and futtures, heutigg gad oooliag and air coaditioaing equipment and tarp, :pre and irrigauon equipment and fixtures, Pumps„ feaoes gad awningx gad (d) rangt, oven and refrigerator presently upon the premises; all of the foregang ace bereia referred to.as tht "Property." To have and to hold the same unto the Mortgagee, tts suooessor: gad assigns in fa simple. - The Moitgtigor2oavenaats that be is bwfully seized of the estate hereby conveyed and be has the right to mortgage, grant and convey the _ Property, that the Property is unenctimbered except as may be below noted, and that the Mortgagor will warrant sad defend thetitle tothe - Property aguast all claims gad demands. - - And the Mortgagor coveoanta gad agrrss as loUowx - 1. To promptly pay whca due the principal of and interest on the indebtedness evideaood by the Note gad prepayment and late charges as provided therein. 2 To pay all taxes, assessments, charges, fines and other impositions of ~overameatal authority agairist the Property within catty (60)days - ot when due or sixty (60) days Prior to the same becoming deliaqueat, whichever may firn occur. - . 3. If it is noted below that this is a second or other subordiaau ranked mortgage, then to promptly pay when due principal gad interest owing under mortgage(s) of higher priority ("Prior Mortgage(s)'q. to promptly pray-to the holder(s) of Prior Mortgage(s) sums due on aooouht of taxes and insurance premiums as may be provided for under the provisiori: of the Prior Mortgage(s), and to otherwise fully, promptly and completely leeryp and perform aU of the proiaises and convraaats of the mortgagor nai::r Prior Mortgage(s) and the promissory note(s)secured - thereby, all ofthe foregoing without regard to any waivers, extensions or indulgeaoes granted by the holder(s) of Prior Mortgage(s) unlea with the prior consent of the Mortgagee. - 4. Not to apply to, request of, receive or aooept from any holder of any Prior Mortgage gay money, funds or things of ialue which would, might or could be coasidrad as sa advance secured by the lien of such Prior Mortgage: S. Not to commit waste or permit or suffer the impairment ordeterioration ofthe-Prone~tx; not to irect or permit to be erected aa)r new huildings on the Property or any structural aherations to existing buildings without the Mortgigbt'a prior written consent; to comply wrath all - - subdivision restrictions and zomng a red other regulatory lavers and ordinances affecting the Property. if the Property is a poadominium unit. the Mortgagor shaU~ promp~Iy and completely perform all of his obligations under the declaration of condomu»um and the condominium association's articles ot"incorportatioa, by-lawn gad rules and ngutatioas and other eoustituent eo.~drminium documents including but not limited to the payment otall regular gad special assessments, the liens for which against the Property mi,;ht or could have priority over the lien of this mortgage. I[ the Property is part of a phirmod unit development,the Mortgagor shall promptly comply witG all provisions of the declaration of covenants and restrictions atablisting the same and shall promptly fulfill all his obligations under the cao:titueat documents of the phianod unit development including the homeowners association's or its oguivakat's snicks aid by-laws and shall promFUY Pay ~ teats or charges of every nature (ao matter how designated) the lien for which against the Property might or could have priority over the lira of this mortgage. _ 6. To keep all the Property insured as may be required from time to time by the Mortgagee against loss by fire, windstorm, haurdt, casualties and eoatingencies for stick periods and for not less than such amounts as maybe reasonably required b)r the Mortgagee and to pay promptly when due all ppremiums for such iruuranoc. The Mortgagor agrees to deliver renewal or replacement pohges or certificates therefor to the Mortgagee at least fifteen (1 S) days prior to the expinition oranniversarydau of the existing policies. The amounts of insurance required by the Mortgagee shall be minimum amounts for which said insurance shall be written and it shall be merimbeat apoa the Mortgagor to maintain such additional iuatirana as may be necessary to meet a~ comply fully with allco-insurance requiremenu eoatained is 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 got be unreasonabl)? withheld) gad all policies and renewals shall be held by the Mortgagee unless in the possession of a holder of a Prior Mortgage. AU detailed designations by the Mortgagor which an aooepted b)r the Mortgagee and all agreements between tht Mortgagor and Mortgagee relating to insurance, now existing or hereafter tuadc, shall be is wriUngand shall bt a part of this mortgage agaeemeat as fully as though set forth verbatim herein and shall govern both parties hereto. No lien upon any polity o insunnoe or upon any refund o: return premium which may be payable on the canoeUation or EermirBtioa thereof shall be given to other thaw the Mortgagee except a holder of a Prior MortgagF or by proper eodorxment mixed to such polic)r and appr+ov~f by the Mortgagee. Each policy otiasnraaoe shall have affixed thereto a Standard New York Mortgagee Cyuse.Wi,(h.:ut Contnbiition making all toss or losses under such policy payable to the Mortgagee as its inurest may appear. In the event adlyyttgds ip>~s of money become payable thereunder the I?iort$agoe shall have-the option to receive gad apply the same on account of the indebbttoeddness secured hereby or to permit the Mortgagor to rooerve ant! use it or any part thereof wiWont - waiving or impairing any equity, lien, or right under and by virtue of this mortgage In the event of loss or physic! damage to the Property the Mortgagor shall give immodiau notice thereof by mai! to the Mortgagee gad the Mortgagee may make proof of loss if the same is got 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 insnrance policies shall pass to the purchaser or grantee. _7. If the Mo~~tgagor faik to perform his covenants gad agreements contauned is this mortgage, or if the Mortgagor tails to perform any duty or obligation arising under a Prior Mortgage (including the payment of principal and/or interest, depo::ts on account of taxes and insurance preaiiuias and late charges even though the holder of the Prior Mortgage has made no demand thereunder and has not th.-eatencd gay action in connection with the same), or if any action or proceeding is commenced which materially affects the Mortgtgoe s inurests in the Property, including but not limited to eminent domain or code enforcement or arrangements involving a banicriipt or deoedeat, or if there is an apparent abandonaxat of the Property, then the Mortgages 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 eater upon and secure the Property, may disburse sneh other sums (including but not limited to the payment of iiuurance preauums and taxes), and may take such other action as the Mortgagee reasonably deems necessary or advisable to protect his interests is the Property, all withont regard to the value of the Property. Any amounts disbursed by the Mortgagee pursuant to ibe provisions of this paragraph, together with in*_trest thereon at the rate of twelve (129(1) per Dent per annum shall become additional indebtedness of the Mortgagor seairod by this mortgage. Unless the Mortgagor and Mortgagee agree in writing to some other ter;as of payment, such amounts shall be payable immediately. Nothing in this paragraph shall require the Mortgagor to incur any expense, make any disbursement or take gay action whatever. 8. All proceeds of any award or claim fir damages direct or consrqueatial is connection with gay ooademnatioa or any other taking by - eminentdomain of the Property or an part thereof, or foreonveyanoe in heu of condemnation or eminent domain are hereby assigesd and shall be paid to the Mortgagee. Unless the Mortgagor and Mortgages otherwise agree in writing (a) all proceeds rroeived by the Mortgagee shall be applied to the sums secured b)r this mortgage without imposition of any prepayment charge, gad (b) the application otprooeeds shall not extend • or postpone the d•.ie date of in:taJlmeat; ;,f principal and interest or change the amounts thereof. 4 Any forbearance by the Mortpgee is exercising gay right or remedy hereunder or othenrise afforded by applicable law shall got be a waiver of or preclude the exercise: of such right or remedy. The procurement of insurance or the payment of taxers of other liens or charges or the payment of sums under a Prior Mortgage by the Mortgagee shall-not be a.waiver of the Mortgagee's right [o aocekrate the maturity of the tndebtedt~csx secured by this mortgage. All remedies provided is this mortgage are distinct and cumulative t ~ yy other right or remedy under this mortgage of afforded by law or equity and may be exercised concurrently, indepeodeotly or suooessi _ 10. 'To pay all chats charges gad expemes including attorney's foes (whether or not litigation occurs and J it dog then those on appellate as well as trial bheil and abstract costs reasonably incncred or paid at any time by the Mortgagee because of the failure on the part of the Mortpigor to )Seifot~, comply with and abide by all of his covenants art forth in this mortgage clod J or the Note gad J or Prior Mortgago(r) and the promissory nee(d) secured thereby. v . ~ ~ ~ • ~ : r l 1. The ~Ivrt~ger is a licxosed mortgage broker under EStip~er~4. St~4utes. ~r~~~~ . Bt.; 2 REV. 9~9 °Preparod by 3tacky H. Spieler, 4700 Bisayne Boulevard, Miami, Florida