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.ten «mA 4'7604'
~ DOLUMfN'iAkY:- STArJIt~ ; t: x
L`' °f UEF'i Ui hEYENUE ~ ~ ~
RB. ~-~'i~
MORTGAGE trade the day bebw set [orth betwaa the Mortpgor bebw named and the Mortpgee, METROPOWTAN MORTGAGE
CO., a Florida oorportation
WHEREAS, the Mortg~or is indebted to the Mortpgor as evidenced bye certain mortgage note (Note) of coca date from the Mortpgor
to Mortgape as described below,
To stators! to the Mortpgor the perfonaance by the Mortgagor of all his agreements set forth in this Mortpge and flu Note, including the
repayment o[ the indebtedness evidenood by the Note, interest thereon, sums advanced by the Mortpgs>e is aceordanoe with the provisions of
thu utgap to protect the lien and security thereof, :rid interest thereon, the Mortpgor does hereby mortgage, grant and convey to the
Mortppe the real property described below together with (a) all easements, rights, terumenta, herediaauaa, rents, asua and profit:
appurtenant thereto; (bj cep b~~rildiergi, structtirea and Improvement: now or hereafter loafed upon said real property. (c) all of the following
presently atttrcbod tbaata: q Ppl~umbb'~ futures and egnipnneat, electrical conduit and wiitng and futures, heagag and cooling and air
oonditioniag equipnreut and utura, :priaiCGag and irriptton equipment and futures, pumps, tenon and awnings; and (d) range, oven:ad
. tdriprator ptesently upon t!u premiss; all of the foregoing era herein rekrred to ss the "Property " To have and to hold the same unto the
Mortga/ea, tea suooeaors and as:>gas in fee simple.
The Mortpgor conveasut: that he u lawfully seized of the aau hereby conveyed and be has the right to mortgage, gran[ and convey the
Property. that the Property is unenxvmbtred except as may be below noted, and that the Mortpgor will warrant and defend the title to the
Property spinet all claims and demands.
And the Mortgagor covenants and agrees ss follows:
1. To promptly pay when due the principal of and interest on the indebtedness evidenced by the Note std prepayment and late charges as
provided ilureia. ,
2 To pay all taxes, assessments, charges, fares and other imppaasstitioat of governmental authority against the Property within sixty (60) days
of when due or sixty (ti0) days Prior to the same becoming de it nqueat, whicluver may fast Doerr.
3. U it is noted below that this is a record or other subordinate racked mortgage. then to promptly ppa~y when due principal sad interest
owing under mortgage(s) of higher priority (`Prior Mortgage(:)'~, to promptly pay to the holder(s) of Prior Mortgage(s) wins dot on account of
taxes and inauraaa premium: a: may be provided for order the provisiotu of the Prior Mort~age{s), and to otherwise fully, promptly and
compkte~ keep sad perform all of the promises and eonveaants of the mortgagor under Prior Idortpge(s) and the~romissory Holt(:)secured
thereby; of the foregoing without crprd to any waivers, extensions or iadulgenoa granted by the hofder(t) of Prior Mortpge(s) uNess with
the prior consent of the Mortgagee.
4. Not to apply to. request of, resxive or accept from any bolder of any Prior Mortpge any money, funds or thinp of value which would.
might or could be -considered as as advance sccured by the hen of such Prior Mortgage.
S. Not to commit waste or permit or suffer the iaipairmeat or deterioration of the Property; not to erect or permit to be erected an)r new
buildings on the Property or any structural akeratioas to existing bhildirigs without the Mottgape's prior written consent; to comply wlth all
aubdivlsion ratrisxions and zoning and other reguLtory laws and ordinances effecting the Property. If the Propertl is a condominium unit, the
Mort~or~somptly and completely performs all of his obGptions under the detdsration of condotninlum sad the condominium
assocatton s Doff mcotportation, by-4ws and riles sad regu4tioas and other constituent condominitun doarnneats incl but not
limited to the payment of sU regular and special assessments, the lien: for which against the Property might or could have priorty over lien of
this mortgage. If the Property is part of a planned unit develo mcnt, the Mortpgor shall promplty comply with all provisrora of tht deciaratian
o! covenant: and restricpons establishing the same and shall
promptly fulfill all hu obligations under the constituent documents of the p4aned
unit development including the homeowners association's or i4 o4uivskat's articles and by-law: sad shall promptly pay all assessments or
charges of every nature (no matter how designated) the Gen for which against the Property might or could have priority over the lien of this
mortpge.
6. To keep all the Property insured as may be required from time to time by the Mortgagor against loss by foe, windstornr, hazards,
casuahia and oontiagenrcia for such periods and for not leas than such amounts as may be reasonably required b)r the Mortpppgae and to pay
promptly when due all ppremiums for such insurance. The Mortpgor agrees to deliver renewal or reQlacemeat polices or oertiftates therefor to
the ortgagor at less fdtaa ~ days prior to the expiration pr anniversary date of the exisdrig policies. The amounts oI i~urana required b
the Mortgagee shall be minimum amounts for which sad insurance shall be written and it shall bt incumbent upon the Mortpgorto mnaintain
such additional insurance as maybe nooasary to mat and comply fully with all eo-insurance r+equin:meat: contained in said polipea to the end
that the Mortgagor Is not a coo-inaum thereunder. Insunuroe may be carmen by a company or companies approved 4y the Mortpgee (which
approval shall not be unru:onabljr withheld) and all policies and renewak shall be held by the Mortgagee unless in the possession of s holder of
a Prior Mortpge. AU detailed designations by the Mortpggor which are acce~tod b)rthe Mortgages and all agreements between the Mortpgor
and Mort~agx relating to insurance, now existing or hereafur made,:hall be in writing and shall be s part of this mortgage agreement as f as
though se! forth verbatim herein and shall govtrn both parties hereto. No Gen upon any policy of t~uranoe or upon any refund or r~urn
premium which tray be payable on the aaoeUation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
Mortp~e or by roperendotsement affued to such polio and approved by the Mortpgor. Each polity of insurance shall have affued thereto a
SZarndard New York Mortpgor Clause Without Contnbutioa making all loss or losses under such polity Qayabk to the Mortgagee ss 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
aPQ1Y ~ sstne ~ aocotrai ~ tyre ' ebtodnas secured herby or to permmt the Mortpgor to restive sad use it or say part thereof without
waiving or impairing a'hliequi(y, he~or right under and by virtue of this mortpge. In the event of loss or physical damage to the Property the
Mortpgor shall give i ante notice thereof by mail to the Mortgagee aid the Mortpga may make proof of loss if the same is not prompfly
made by the Mortpgor. la the event of loreclosure of this mortpge or other transfer of title to the Property all right, title and interest of the
Mortgagor is and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mortpgor [ails to perform his covenants and agrcemeats contained in this mortpge, or Jthe Mortpgor fails to perform any duty
or obGption arising under a Prior Mortpge (including the payment of principal sad/or interest, deposits on account of taxes and insurance
premiums std late charges even though the holder of the Prior Mortgage has made no demand thereunder and has not thrauaed any action in
conaodioa with the same), or if any action or proceeding is commenced which materially afTects 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 flu Mortpgor at its option may pay to the holder of a Prior Mortpge sU or parts of the sums necessary to
bring the Prior Mortpge current, may make appeamnoa, may eater upon and secure the Property, mapp disburse such other sums (including
but not limited to the payment of insunnoe premiums and taxes), and m:y take such other action as the Mortppe reasonably dams necessary
or sdvitabk to protect his interests in the Property, all without tepid to the value of the Property. Any cuuQp disbursed by the Mortpgx
Y~_rs•_,'>:t to !l+r previs!~rm of this paragraph, together with iatetest thereon at the rate ofFOLlrt@@II 14~ per Dent per annum shall
become additional indebtedness of the Mortgagor secured by this mortpge. Unless the Mortpgor aad~ortpga agree in wntin$ to some
other arms of payment, such amounts shall be payable immediately. Nothing in this paragraph shall regwre the Mortgagor to incur nay
expense, make any disbursement or take any action whatever.
8. AU proceeds of any award or claim for damages direct or consequential is coaruction 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 are hereby assigned end shall
be paid to the Mortpgor. tilers the Mortpgor and Mortga~oe otherwise agcy in writing (a) all roaeds received by the Mortpgee:hall be
applied to the sums secured b)r this mortgage without imposiUoo otaay prepayment charge, std (b~the appliation of prooeods shall not extend
or postpone the due date of inauaUments of principal sad interest or change the amounts thereof.
9. Any forbaranoe by the Mortpgee in exercising any right or remedy hereunder or otlurwise afforded by applicable law shall not be s
waiver of or preclude the exercise of such right or remedy. The procurement of insurance or the payment of taxes or other Leos or charges or the
payment of :urns utl~er s Prior Mortpge by the Mort shall not be a waiver of the Mortpger's right to acoeknte the maturity of the
indebtedtias seet)isd by this mortpge. AU remedies pro ed in this mortgage:re distinct and cumnlauve to any other right or remedy order
this mortpge or afforded by law or equity and may be exercised concurrently, independently or successively.
10. To pay all costs charges and expenses including attorney's tea (whether or not litigation osxatrs end J it does then those on appe Wte a:
well as trial keel) iced s costs reasonably incurred or paid at nay time by the Mortpgee beawe of the failure on the pert oI the
Mortgagor to perforlq co~riwith and abide by all of his covenant: set forth in this mortgage and/ or the Note and / or Prior Monpge(:)and
the promissory apte(s~ tecttred thereby.
11. The Mortpgtee ~ ~ ~ioepsod mortgage broker wader Chapter 494, Florida Statutes. ~ K 3a S ~e + T 3 ~p
f. ~ ; e f
at./3 tte•., u; >v - oPrc~rcd by Stanley H. Spieler, Attorney,347g0.$isaytiaBoaftrrsfM, Miami, Florida 33137