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Ctwri Circuit Cout't. St. Lt11:b.
MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corportation.
W NER F.AS, 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 by the Mortgagor of all his agreements set forth in this Mortgage and the Note, includingthe
repa}•ment of the indebtedness evidenced by the Note, interest thereon, sums advanced by the Mortgagee in accordance with the provisions of
this 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 descrihed below together with (a) all easements, rights, tenements, hereditaments, rents, issues and profits
appurtenant thereto; (b) all buildings, structures and improvements now or hereafter located upon said real property, (c) all of the following
presently attached thereto: pipes, plumbing fixtures and equipment, electrical conduit and winng and fixtures, heating and cooling and air
conditioning equipment and fixtures, sprinkling and irrigation equipment and fixtures, pumps, fences and awnings; and (d) range, oven and
refrigerator presently upon the premises; all of the foregoing are hereto referred to as the "Property." To have and to hold the same unto the
Mortgagee, its successors and assigns in fee simple.
The Mortgagor convcnants that he is lawfully seized of the estate hereby conve}•ed and he has the right to mortgage, grant and convey the
Propert}•, that the Property is unencumbered except as may be below noted, and that the Mortgagor well 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 interest 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 impositions of governmental 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 interest
owing under mortgage(s) of higher priority ("Prior Mortgage(s)"), to promptly pay to the holder(s) of Prior Mortgage(s) sums due on account of
taxes and insurance premiums as may be provided for under the provisions of the Prior Mortgage(s), and to otherwise fully, promptly and
cumpletel}• keep and perform all of the promises and convenants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all of the foregoing without regard to an}• waivers, extensions or indulgences granted b}• the holder(s) of Prior Mortgage(s) unless with
the prior 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 lien of such Prior Mortgage.
5. Not to commit waste or permit or suffer the impairment or deterioration of the Property; not to ereM or permit to be erected any new
buildings on the Property or an}• structural alterations to existing buildings without the Mortgagee's rior written consent; to comply with all
subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Property. If the Property is a condominium unit, the
Mortgagor shall, promptly and completely perform all of his obligations under the declaration of condominium and the condominium
association's articles of incorportatiun, by-laws and rules and regulations and other constituent condominium documents including but not
is mitcd to the payment otall regular 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 promptty comply with all provisions of the declaration
of covenants and restrictions establishing the same and shall promptly fulfill all his obligations under the constituent documents of the planned
unit development including the homeowners association's or its equivalent's articles and by-laws and shall promptly pay all assessments or
charges of ever}• nature (no matter how designated) the lien for which against 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 contingenc~a for such periods an~i for not Icss than such amounts as may be reasonably required by the Mortgagee and to pay
promptly when due all premiums for such insurance. The Mortgagoragrees to delivsr renewal or replacement policies or certificates therefor to
the Mortgagee at least Citeen (1 S) days prior to the expiration or anniversary date 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 incumbent upon the Mortgagor to mainiain
such additional insurance as may IS4 necessary to meet and comply fully with all co-insurance requirements contained in 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 not be unreasonably withheld) and all policies and renewals shall be held by the Mortgagee unless in the possession of a holder of
a Prior Mortgage. All detailed designations h}• the Mortgagor which are accepted by the Mortgagee and all agrecments between the Mortgagor
and Mortgagee relating to insurance, now• existing or hereafter made, shall be in writing and shall be a part of this mortgage agreement as fully as
'i though set forth verbatim herein and shall govern both parties hereto. No lien upon any policy of insurance or upon any refund or return
premium which rr~ay:bepayable on the cancellation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
i ~t ortgage or by proper endorsement affixed to such polic}• and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a
Standard \ew• York Mortgagee Clause Without Contnbution making all loss or losses under such policy payable to the Mortgagee as its
interest ,iaJ apj.for. ii, tiC f~f,:t o,R~ it::: Cr .°,ti^:S .^.f .^.:.^...^.ej b,:cc:r•.e payable Iherct:rd_r *.he !41~rtg3gee sha!! have the option so receive and
apply the same on account of the indebtedness secured hereby or to permit the Mortgagor to receive and use it or any part thereof without
waiving or impairing an}• 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 and the Mortgagee may make proof of loss i(the same is not promptly
l 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
I Mortgagor in and to the insurance policies shall pass to the purchaser or grantee.
if the Mortgagor (ails to perform his covenants and agreements contained in this mortgage, or if the Mortgagor fails to perform any duty
„r obligation nosing under a Prior mortgage (including the payment of principal and; or interest, deposits on account of taxes and insurance
premiums and late charges even though the holder of the Prior Mortgage has made no demand thereunder and has not threatened any action in
~,~nnection with the same), or if any action or proceeding is commenced which materially affects the Mortgagee's interests in the Propert}•,
ncluding but not limited to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent
ii bandorment of the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessary to
n; ing the Prior Mortgage current, may make appearances, may enter upon and secure the Property, may disburse such other sums (including
~ but niit limited to the pa}•ment of insurance premiums and taxes), and may take such other action as the Mortgagee reasonably deems necessary
,Ir advisable to protect his interests in the Property. all without regard to the value of the Property. Any amounts disbursed by the Mortgagee
pursuant to the provisions of this paragraph, together with interest thereon at the rate of eighteen (18 per cent per annum shall become
additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in writing to some other terms
,~f payment, such amounts shall be pa}•able immediately. Nothing in this paragraph shall require the Mortgagee to incur any expense make any
Disbursement or take am• action whatever.
8. All proceeds of any award or claim for damages direct or consequential in connection with any condemnation or any other taking by
eminent domain of the Property or any part thereof, of forconveyance in lieu of condemnation or eminent domain are hereby assigned and shall
he paid to the !~fortgagce. Unless the Mortgagor and Mortgagee othcrw•ise agree in writing (a) all proceeds received by the Mortgagee shall be
applied to the sums secured by this mortgage without imposition of any prepayment charge, and (b) the application of proceeds shall not extend
ur postpone the due date of installments of principal and interest or change the amounts thereof.
9. Any forbearance by the Mortgagee in exercising any right or remedy hereunder or otherwise afforded by applicable law shall not be a
w giver of or preclude the exercise of such right or remedy. The procurement of insurance or the payment of taxes or 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 to accelerate the maturity of the
indebtedness secured by this mortgage- All remedies provided 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, independently or successively.
10. To pay all costs chaeges end expenses including attorney's fees (whether or not litigation occurs and if it does then those onappellate as
well as trial Itvel) 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 covenants set forth in this mortgage and ~ or the Note and; or Prior Mortgage(s) and
the promissory note(s) secured thereby. '
j 1 I. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. t{~327 P~GF~~'J
. , a~.
' III. 2 xII t Prepared by ~;tanle} H. Spieler, Attorney, X4700 Biscayne Boulevard, ht.ami, Florida 33137