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CUE OY CC'''S 'C' 14TF.l:C SLP PEBSOHSI PROPERTYr
ill&SiiiAi tt;.•7:.' 71•'x, ACTt OF U71.
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MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corporation.
W HEREAS, the Mortgagor is indebted to the Mortgagee as evidenced by a certain mortgage note (Note) oteven date from the Mortgagor
to Mortgagee as described below.
To secure to the Mortgagee the performance Dy 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. soma advanced by the Mortgagee in accordance with the provisions of
thrs Mortgage to protect the lien and security thereof, and interest thereon. the Mortgagor does hereby mortgage, grant and convey to the
Mortgagee the real property described below togeuter with (a) all easements, rights. tenements, herediaments. rents, issues and profits
appurtenant thereto; (b) all butWings, structura and Improvements now or hereafter located upon said real property, (c)all of the following
presently attac'ned therzKO: pipes, plumbing fixtura and equipment, eiectricai conduit and wrong and futures, hating and cooling and air
conditioning equipment and fixtures, sprinkling and irrigation equipment and futura, pumps, fences and awnings; and (d) range, oven and
refrigerator presently upon the premises; all of the foregoing arc herein referred to as the "Property." To have and to hold the same unto the
Mortgagee, its successors and assign in fee simple.
The Mortgagor convenants that he is lawfully seized of the state 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 intcrat on the indebtedness evidenced by the Note and prepayment and late charges as
provided therein.
2. To pay all taxes, assessments. charges, fines and other imQosition of governmenal 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 interat
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'(S) of homer pr_er.!Y ("P-^-^s !4!^r-gsg:'(s)"), to prong!!; rsy to the ho~e:(s) of Pno:1~:a:t ^~s) ss.:s 3sc a:. a:~o::: t of
taxes and insurance premiums as may be provided for under the provisions of the Prior Mortgage(s), sad to~~t~ierwise fully, promptly and
compktely keep and perform all of the promises sad coneenanu of the mortgagor under Prior Mortgage(e) and the promissory note(:) 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 Pnor consent of the Mortgagee. . , . ,
4. Not to apply to, request of, receive or accept from any holder of any Prior Mortgage any money, tunds or things of value which would.
might or could be considered as an advance secured by the lies of such Prior Mortgage. _
S. Not to commit waste or permit or suffer the impairment or deterioration of the Property; not to erect or permit to be erected say new
buildings on the Property or any structural alteration to existing buildings without the Mortgagee's pprior written consent; to comply with all
subdivision restriction and zoning and other regulatory laws and ordinances affecting the Property. Uthe Property is a condominium unit, the
Mortgagor shaU,promptly and compktely perform all o[ his obligation under the deslaratlon of condominium and the condominium
association's articles of incorportation, by-laws and rules and regulations and other eontituent condominium documents including but not
limited to the pa ment of all re~tllar and special assessments, the Gen for which againt 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 ratnctlon esabllshmg the same and shall promptly fuUiU all his obligation under the contituent documents of the planned
unit development including the homeowntrs association's or Its e4wvakat's articles and by-laws and shall promptly pay all assessments or
charges of every nature (no matter how designated) the lien for which againt the Property might or could have priority over the lien 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, 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 ppremiums for such inurance. The Mortgagor agrees to deliver renewal or replacement policies or certificates therefor to
the Mortgagee at least fdtesn (1 ~ days prior to the expiration oranniversary date of the existing policies. The amounts of inurance aired b
req Y
~ the Mortgagee shall be minimum amounu for which said Inurance shall be written and it aliaU be incumbent upon the Mortgagor to maintain
such additional inurance as may be necessary to meet and comply fully with all co-insurance requirements contained in said policies to the end
E that the Mortgagor is not a co-insurer thereunder. Insurance may be wntten 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 Mortgages unless in the possession of a holder of
a Prior Mortgage. All detailed designation by the Mortgagor which arc acoe~ted b)r the Mortgagee and all agreements between the Mortgagor
and Mortgagee relating to inuraaa, now existing or hereafter made, shall be In writing and shall be a rt of this mortgage agreement as fully as
though set forth verbgtiq aere}n ptt0 shall govern both parties hereto. No Gen upon any policy of insutano~ or apes any refund or return
premium which maybe payable on the cancellation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
Mortgage or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of inurance shall have affixed thereto a
Sandard New York Mortgagee Clause Without Contnbution making all loss or losses under such polity payable to the Mortgagee as its
interest may appear. In the event any sum or sums of money become payable thereunder the Mortgages shall have the option to receive and
apply the same on account of the indebtedness secured hereby or to permit the Mortgagor tp 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 notice thereof by mail to the Mortgagee sad 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 [ranter of title to the Property all right. title and interest of the
1 Mortgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mortgagor fails to perform his covenants and agraments contained 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/or interest, deposits on aceount of axes and inurance
premiums and late charges even though the holder of the Prior Mortgage has made no demand thercwider and has not threatened any action in
connection with the same), or it 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 ai 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 axes), and may eke such otheraction 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
s pursuant to the provisions of this paragraph, together with lateral thereon at the rate of fourteen (1496) per Dent per annum shall become
( additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in writing to some other terns
~ of payment, such amounts shall be payable immediately. Nothing in this paragraph sh:iU require the Mortgagee to incur any expense. make any
disbursement or eke any action whatever.
8. All proeseds of any award or claim for damages direct or consequential is connection with any condemnation or any other eking by
t eminent domain of the Property or any part thereof, or for conveyance m heu of condemnation or eminent domain arc hereby assigned and shall
j be paid to the Mortgagee. Unless the Mortgagor and Mortgages otherwise agree in writing (a) all proceeds received b the Mort
i applied to the sums secured by this mortgage without im non of an re a y Saga shall be
pos. y p p yment charge, and (b) the application of proceeds shall not extend
or postpone the due date of installments of principal Interest or change the amount: thereof.
~ 9. Any forbearance by the Mortgages in exerci<io~any right or remedy hereunder or otherwise afforded by applicable law shall not be a
1 waiver of or preclude the exercise of such nght or remedy. The procurement of Inunnce or the payment of taxes or other Leas or ehar~es or the
payment of sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgages's right to accelerate the matunty of the
indebtedneu secured by this mortgage. AU remedies provided in this mortgage arc distinct and cumulative to any other right or remedy under
this mortgage or afforded by law or egwty and may be exercised concurrently, independently or sucocssively.
10. To pay all costs charges and expenses including attorney's foe: (whether or not litigation occur: and if it doe: then those on appellate as
well as trial level) and abstract costs reasonably 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 covenanu set forth in this mortgage and/or the Note sad/or Prior Mortgage(s) and
the promissory note(s) secured thereby. QQ
11. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Salutes. 8~~ PAGf V~~
et,,3Re.~., i:so oPrcparcd by Stanley H. Spieler, Attorney, 4700 B~Cl~rpe~Borleyar~.~~ml;'Florida 33137
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