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MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, M ETROPOLITAN MORTGAGE
CO., a Florida corportation.
W H E R EAS, the Mortgagor is indebted to the Mortgagee as evidenced by a certain mortgage note (Note) of even date from the Mortgagor
to Mortgagee as described below.
1•o secure to the Mortgagee the perforntur,ce b}• the Mortgagor of all his agreements set forth in this Mortgage and the Note, including the
repayment of the indebtedness evidenced by the tote, 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 described below together with (a) all easements, rights, tenements, hereditaments, rents, issues and profits
appurtenant thereto;l h) all bwtd,ngs, structures and ,mprovements now or hereafter located upon said real property, (c) a!I of the following
prrsentl}• attached therrtu: pipes, plumbing fixtures and equipment, electrical conduit and wiring and fixtures, heating and cooling and ale
conditioning equipment and fixtures, sprinkling and irrigat,on equipment and fixtures, pumps, fences and awnings; and (d) range, oven and
refrigerator presentl}• upon the premises; all of the foregoing are herein referred to as the "Property " To have and to hold the same unto the
Mortgagee, its successors and assigns in fee simple.
The Mortgagor con~•enants that he is lawfulh• seized of the estate hereby conveyed and he has the right to mortgage, grant and convey the
Property, that the Propert}• is unencumbered except as ma}• be below noted, and that the Mortgagor well warrant and defend the title to the
Propert}• against all claims and demands.
And the Mortgagor covenants and agrees as follows:
1 _ To promptly pa}• 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 auth_ ority against the Property within sixty(60)days
of when due or sixty (b01 days prior to the same becoming delinquent, whichever may first occur.
3. If it is noted below that this ?s a second or other subordinate ranked mortgage, then to promptly pay when due principal and interest
owing under mortgagels? of higher priority ("Prior 4lortgagels?"), to promptl}• pay to the holder(s) of Prior Mortgage(s) sums due on account of
cases 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 conrenants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all of the foregoing without regard :o any waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prior consent of the Mortgagee.
4. \ot to appl}• to, request of, receive or accept from am• holder of any Prior Mortgage any money, funds or things of value which would,
might or could br considered as an advance secured by the lien of such Prior Mortgage.
5. Kot to commirwaste or permit or suffer the impairment or deterioration of the Property; not to erect or permit to be erected any new
hu,ldings on the I'ropert}• or an}• structural alterations to existing buildings without the Mortgagee's prior written consent; to comply with all
subdis•ision restrictions and zoning and other regulatory laws and ordinances affecting the Property. If the Property is a condominium unit, the
`tortgagor shall,promptl}• and completely perform all of his obligations under the declaration of condominium and the condominium
association's articles of incorportation, b}•-laws and rules and regulations and other constituent condominium documents including but not
limited to the payment of all 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 pan of a planned unit development, the Mortgagor shall prompltycomply with all provisions of the declaration
of covenants and restrictions establishing the same and shall promptly fulfill all his obligations underthe constituent dceuments 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 ecer}• nature Ino matter how designated) the lien for which against the Property might or could have priority over the lien of this
mortgage. ~ '
6. 7o keep all the Property insured as ma}• be required from time to time by the Mortgagee against toss 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
prompth•whendueallpremiumsforsuchinsurance.TheMortgagoragreestodeliverrenewalorreplacementpoliciesoreertificatesthereforto
the Mortgagee at least fifteen (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 maintain
such additional insurance as may be necessary to meet and comply fully with all co-insurance requirementscontained inlaid policies to theend
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 1 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 b}• the Mortgagor which are accepted by the Mortgagee and all agreements between the Mortgagor
and Mortgagee relating to,nsurance, now• existing or hereafter made, shall be in writing and shall be a part of this mortgage agreement as fully as
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 ma} be payable on the canceilauon or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
Ltongage or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of insuraneeshall have affixed thereto a
titandard Kew• York !Mortgagee Clause Without Contribution making all loss or losses under such policy payable to the Mortgagee as its
~ interest may appear. In the event am sum or lams of money become payable thereunder the Mortgagee shall have the option to 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 any equity, lien, or right under and by virtue of this mortgage. In the event of loss or physical damage to the Propertythe
Mortgagor shall glee immediate nonce thereof by :nail to the Mortgagee and the Mortgagee may make proof of loss if the same is not promptly
made be 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
~tnrtgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mortgagor fails to perform his cotenants and agreementscontained in this mortgage, orif the Mortgagor failsto perform anyduty
.,r obligation arising under a Prior Mortgage hncluding the payment of principal and r or interest, deposits on account. of taxes and insurance
premiums and late charges even though the holder of the Prior Mortgage has made nodemand thereunderand has not threatened anyaction in
~~~nnecuon with the camel. or if an}• action or proceeding is commenced which materially affects the Mortgagee's interests in the Property,
~ ncluding but not 6mrted 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 at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessaryto
bring the Prior Mortgage current, may make appearances. may enter upon and secure the Property', may disburse such other sums (including
lint not limited to the payment of insurance premiums and taxes, and may take such otheraction as the Mortgagee reasonablydeemsriecessary
~~r ads cable to protect ht, interests in the 1'mprrty, all without regard to the value of the Property. Any amounts disbursed by the Mortgagee
pursuant to the pros•isioro of this paragraph. together with interest thereon at the rate of eighteen (18~$) per cent per annum shall become
.~dditionalindebtednessofthe\tortgagorsecuredM•thismortgage.l'nlesstheMortgagorandMortgageeagreeinwritingtosomeotherterms
.~tpayment.suchamountsshallbepayableimmediateh~.\athinginthisparagraphshallrequiretheMortgageetoincuranyexpense,makean}•
disbursement or take any 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 Propert}• or any part thereof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and shall
he paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagee shall be
a~ 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. An}• forbearance b}• the Mortgagee in exercising any right or remedy herepnder or otherwise afforded by applicable law shall not be a
wais•er of or preclude the exercise of such right or remed}•. The procurement of insurance or the payment of taxes or other liens orcharges or the
pa}•ment of sums under a Prior Mortgage b}' the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate the maturity of the
indebtedness secured b}• this mortgage. All remedies provided in this mortgage are distinct and cumulative to any other right or remedy under
this mortgage .;r afforded by law or equity and ma}• be exercised concurrently, independently or successively.
IQ To pay a!I costs •:harges and expenses including attorney's ices (whether or not litigation occurs and if it does then those on appellate as
well as tri.l I^vel) and abstract costs reasonably incurred or 'paid at any time by the Mortgagee because of the failure on the part of the
Mortgagor to perfor comph• with and abide by all of his covenants set forth in this mortgage andJorthe Noteand~ or Prior Mortgage(s)and
the promissory note(s~ secured thereby.
la. Thc• Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. BL)(~L~'tiV Pd~E
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ui ~ xu ~ I'renarrd he titanlcy H Se ter_ Attorney 4?Ob Biscayne Boulevard_ Miami_ Florida 31137