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MORTGAGE mode the day below set forth between the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., s Florida corportatioa.
WHEREAS, the Mortgagor is indebted to the Mortgagee as evidenced by s certain mortgage note (Note) of even date from the Mortgagor
to Mortpgee as described below,
To saute to the Mortgagee the performance by the Mortgagor of alt ha agreements act forth in this Mortgage and the Note, including the
reps t of the indebtednes evidenced by the Note. inutet thereoa,:ums advanced by the Mortgagee in aooordanoe with the provis;ori: of
this Mortgage to protect the lien and security thereof, and interest thereon, the Mortgagor does hereby mortgagee, grant and convey tothe
Mottgaga the real property described below together with (s) all easement:, rights, tenements, hereditsments, rants, issues and profits
appurtewut thereto; (b)all buildings, structures and impmvementa now or hereafter located upon :aid real property, (c)all of the following
presently attached thereto: pipes, plumbing facture and equipment, electrical conduit and wintig and fixtures, heating acct cooling acct ur
conditioning equipment aid factures, :p brag and irrigation e~uipmeat and factures, pampa, fences and awnittgs,; and (d) range, oven and
refrigerator presently upon the premises; all of the foregoing are herein refereed to sa the °Property " To have and to hold the same unto the
Mortgagee, cu suooeswn and sssigtui is tee :;mpk.
The Mortgagor oonveaants tAat he is lawfully seized of the estate hereby conveyed and he ha: the right to mortgage, ggrraarat aced convey the
Property, that the Property u unencumbered except as may be below noted, and flat the Mortgagor will warnat and deterd the tick to the
Property against all chinas std 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 lutes, assessment:, charges, fines and other imposition: of governmenW authority against the Property within sixty (60) days
of when due or salty (60) dsya prior to the same becoming delinquent, whichever may first occur.
3. U it is noted below that this is a second or other subordinate naked mortgage, then to promptly pay when due principal and interest
owing under mortgage(es) of higher priority ("Prior Mortgage(s)'7, to promptly pay to the holder(s) of Prior Mortgage(s) sums due on aa:ount of
taxes and insurancee premiums as may be provided for under the provisions of the Prior Mortgage(s), and to ottihteerwise fully, promptly and
completely leap and perform all of the promises and coaveaants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all of the foregoing without regard to any waivers, extensioaa or indutgeaoea granted by the holder(:) of Prior Mortgage(s) unless with
the pnor consent of the Mortgagee.
4. Not to appply to. raluest of, raxive or aaxpt from any holder of any Prior Mortgage any money, tends or tltiags of value which would,
might or could be considered as an advance secured by the lien of such Prior Mortgage.
S. Not to commit wasu or permit or suffer the impairment or deterioration of the Property; not to erect or permit to be erected and new
buildings on the Property or aoy structural aluratioti: to existing Buildings without the Mortgagee's pprior written consent; to comply with aU
subdivision retrictions and inning and other regulatory laws std ordinances affecting the Property. Uthe Propert~r is s condominium unit, the
Mort$a~or shall~protnptly and completely perform all of his obligations under the decLration of condomuuum and the condominium
associaUon's articileas off mcorportation, by-laws and rules and regulations and other constituent condominium dotaimeats ' but not
limited to the pa rat of all regular and special assessments, the liens for which against the Property might or could have priority lien o!
this mortgage. if the Property is part of a planned unit development, the Mortgagor shall promplty comply with sU provistona of the dcelaration
of coveaanta and restrtcuoaa establishing the same and shall promptly fulfill all his obligations order the constituent documents of the planned
unit development including the homeowners association's or its equivalent's articles and by-laws and :ball promptly pay sU assessments or
charges of every nature (no matter how designated) the Gen for which against the Property aught or could have priority curt flu lien of this
mortgage.
6. To keep al! the Property insured as may be required from tithe to time by the Mortgagee against loss by fur, windstorm, hatards,
casualties std oontingencie for such periods and for not lass than such amounts as may be reasonably required b)? the Mortggaaggesa and to pay
promptly when due all ppremiums for such ioauranoe. The Mortgagor agree to deliver renewal or rcQlacetaent polipes or certificate tlcerefor to
the Mortgages at least fJteen (1 ~ days prior to the expiration or anniversary daze of the existing policies. The amounts of insurance roquirel by
the Mortgagee shall be minimum amounts for which said iaturanee shall be vreitten and it shall be incumbent upon the Mortgagor to maintain
such addiuonat itisurance as may be necessary to meet aced comply fully with all co-insurance requinmenis contained in said policies to the etd
that the Mortgagor is not s co-insurer thereunder. lnsurattoe may be written by g company or companies approved by the Mortgagee (which
approval shall not be utuYasonably withheld) and all policies and renewals shall be heW by the Mortgagee unless in the pos:etsion eta holder of
a Prior Mortgage. AU detailed deugoatiotu by the Mort~gor which are accepted b)r the Mortgagee and all agrx rats between the Mortgagor
and Mortgagee rebtitig to insurance. now existing or hereafter made. shall be m writing and shall be a part of this mmortgage agroement as fully as
though net forth verbatim herein and shall govern both parties hereto. No lien upon any poGry of insurance or upon any refund or return
premium which rosy be payable on the cancellation or uraunadoa thereof shall be given to oilier than the Mortgagee except a holder of a Prior
Mortgage or by proper endorsement affixed to such polic)rand approved by the Mortgagee. Each policy of insurancee shall have affixed thereto s
Standard Navy York Mortgagee Clause Without Contnbution making all loss or losses under:uc6 policy payable to the Mortgagee as its
interest may appear. In the event nay sum or sums of money become payable thereunder the Mortgagee shall have the option to repave std
apQly the same on amount of the iidebtedness secured hereby or to permit the Mortgagor to repave sad use it or any part thereof wiWout
waving or impairing any equity, lien, or right order and by virtue of this mortg~e. In the event of loss or physical damage to the Property the
Mortgagor shall give im iau notice thereof by mail to the Mortgagee and the MMortgages rosy make proof of loss if the same is not promptly
made by the Mortga~gqrr dp thq_ee~~eerat of foreclosure of this mortgage or other transfer of tick to the Property all right, title and interest of the
Mortgagor in and to Elie irisurtnbe policies shall pass to the purehaaer or grantee.
7. If the Mortgagor fails to perform hiscove-Hants and agreements contained in this mortgage. or if the Mortgagor fails to perform anyduty
or obligation arising order a Pnor Mortgage (including the payment of principal and/or interest, deposits on account of taxes and insurance
premiums and laze charges even though the holder of the Prior Mortgage has made no demand thereunder std has not thrauned any action in
connexion with the same), or J any action or proceeding is commetiood which materially affects the Mortgagee's interests in the Property,
including but not litnitaf to eminent domain or code enforcement or arrangements involving a batilcrupt or decedent, or if there is an apparent
abandonment of the Property, then the Mortgagee at its option may pay to the holder of s Prior Mortpge all or parts of the sums necessary to
bring the Prior Mortgage current, may make appearaaoes, may enur upon sad secure the Property, may disburse such other sums (iricludiiig
but not limited to the payment of insurance preiruutas and taxes), sad may take such other action ss the Mortpgiee reasonably deems necessary
or advisable to protect his inurests in the Property, all without regard to the value of the Property. Any amounts ursod by the Mortgages
pursuant to the provisions of this paragraph, together with interest thereon at the rate of ItOUtt@@II ~].l}°J,'~per ant per annum shall
become additional indebtedness of the Mortgagor sa:urai by this mortgage. Unless the Mortgagor and Mortgagee agree in venting to some
other terms of payment, such amounts shall be payable immediately. Nothing in this paragraph :hall require the Mortgagee to incur aoy
expetue. make any disbursement or take any action whauver.
8. All proceeds of any award or claim for damages direct or consequential in cotitiectioa with any cotdemnation or any oilier taking by
eminent domain of the Property or any~rt thercot, or for conveyancx in lieu of condemnation or eminent domain are hereby assigned sad shall
be paid to the Mortgagee. tile:: the ortgagor and Mortga~,ee otherwise agree in writing (a) all prooesds received by the Mortgages shall be
applied to the sums secured b)r this mortgage without impoaiUOn otaay prepayment charge. and (b) the application of proceeds shill not exuid
or postpone the due daze of installments of principal and interest or change the amount: thereof.
9. Any forbearance by the Mortgages in exercising an right or remedy hereunder or otherwise afforded by applicable law shall not be a
waiver of or preclude the exercise of such right or retnaly. The procurement of insurance or the payment of taxes or other Bees or chiir~es or the
payment of sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagee's right to aocekrsu the matnnty of the
iidebtedtiess secured by this mortgage. AO remedies providaf in this mortgage are distinct and cumulative to any other right or remedy under
this mortgage or afforded by law or equity and may be exercised concurrently, iideperdently or successively.
10. To pay all wits charges and expense including attortiey's fees (whether or not litigation occurs sad if it does rhea those on appeUau as
well as trial kv!el) and abstract costs reasonably incurred or paid at nay time by the Mortgages beause of the failure on the part of the
Mortgagor to perform, comply with and abide by all of his covenant: set forth in this mortgage and. or the Note and/ or Prior Mortgage(s) and
the promissory note(s) sauref thereby. a~ t~
11. The Mortgages is a licensed mortgage broker under Chapter 444, Florida Statutes.
tl.; ~ Re.., u; ~ oPreparei by Stankl H. Spiekr.~Attomey, 4700 ~cayne Boulevard, Miami. Florida 33137