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C:~ C"i C!'~~ 'C' i;:':V:i 31.E P::'Sat.Rl PROPEkTY.
F G. ai Tr •.i:.'..': _ti 71-:°~. ALiS OF qTl, .
C:SiA POIiF~t
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MORTGAGE made the day below set (orlh between the Mongagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corportation.
W HEREAS, the Mortgagor is indebted to the Mortgagee u evidenced by a certain mortgage note (Note) of even date from the Mortgagor
to Mortgagee as dexribed below. ;
To secure to the Mortgagee the performance by the Morlgagor of all his agreements xt forth in this Mortgage and the Note, including the i
repayment 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 secunty thereof. and interest thereon. the Mongagor does hereby mortgage. gent and convey to the
Mortgagee the real progeny described below toge{)cer 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 properly. (c)all of the following
prexntly attached thereto: pipes. plumbing fixtures and equipment, electrical conduit and winng and fixtures. besting and cooling and air
conditioning equipment and fixtures. sprinkling and imgation equipment and fixtures, pumps, fences and awnings; and (d) range. oven and
refrigerator Qrexntly upon the premises; all of the foregoing arc herein referred to u the "Properly." To have and to hold the same unto the
Mortgagee, its successor and assigns in fee simple.
The Mongagor convenants that he is lawfully xized of the estate hereby conveyed and he has the right to mortgage, grant and convey the
Progeny, that the Properly is unencumbered except u may be below noted, and that the Mongagor will warrant and defend the title to the
Progeny against all claims and demands.
And the Morlgagor covenants and agrees u foQows:
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. asseumenu, charges, fines and other impositions of governmental authority against the Progeny 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 Pnor MortgagNs) sums due on account of
taxes and insurance premiums u may be provided for under the provisions of the Prior Mortgage(s), and to otherwix fully, promptly and
completely keep and perform all of the promixs and conennants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all of the foregoing without regard to any waiver, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prioj consent of the Mortgagee.
4. Not to apply to, request of, receive or accept from any holder of any Prior Mortgage any money, funds or things of valut which would,
might or could •be considered as an advance secured by the Icen of such Prior Mortgage.
S. Not to commit wute or permit or suffer the impairment or deterioration of the Properly; not to erect or permit to be erected any new
buildings on the Progeny or any structural alterations to existing buildings without the Mortgagee
s prior written consent• to comply with all
subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Properly. lithe Properly is a condominium unit, the
Mortgagor shaU~promptly and completely perform all of his obligations under the declaration of condominium and the condominium
association's snicks of incorportation, by-laws and risks and rcgulauons and other constituent condominium documents including but not
it mired to the payment of all regular and specul asxssmcnts, the liens for which against the Property might or could have priority over the Gen of
this mortgage. If the Pm~erly u earl of a planned unit development, the Mongagor shall promptty comply with all provisions of the declaration
of covenants and rcstricuons esublishing 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 every nature (no matter how desigrwted) the Gen for which against the Properly might or could have pnonty over the lien of this
mortgage.
6. To keep cell the Properly insured u may be required from time to time by the Mortgagee against loss by fire. windstorm, hanrds,
casualties and contingencies for such penods 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 insurance. The Morlgagoragrees to deliver renewal or replacement policies orcerlificates therefor to
the Mortgagee at lent fJteen (1 S) days prior to the expiration or anniversary date of the existing policies. The amounu of insurance required by
the Mortgagee shall be minimum amounts for which said insurance shall be written and it shall be incumbent upon the Mongagor to maintain
such additional insurance u may be necessary to inset and comply fully with all co-insurance requirements contained in said policies to the end
that the Mongagor 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 poGaes and renewals shall be held by the Mortgagee unless in the possession of a holder of
i n between the Mon or
a Prior Mongagc. All detailed designations by the Mortgagor which arc accepted by the T ...-tgagee and all agreeme is gag
and Mortgagee relating to insurance, now existing or hereafter made, shall be inwriting a? - ^ .II bs a pan of this mortgage agreement as fully u
~ though xt forth verbatim herein and shall govern both parlies hereto. No lien upon a~ , rolicy of insurance or upon any refund or return
premium which may be payable on the cancellation or termination thereof shall be given ti, other than the Mongagor except a holder of a Prior
M ortgage or by proper endorxment affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a
Standard New York Mortgagee Claux Without Contnbution making all loss or tosses under such policy payable to the Mortgagee as its
interest may appear. In the event any sum or sums of money become payable thereunder the Mon$agee shall have the option to receive and
apply the same on account of the indebtedness xcured hereby or to permit the Mongagor to receive and fist it or any earl thereof without
waiving or impairing any equity, lien. or right undo and by virtue of this mortgage. In the event o[ loss or physical damage to the Properly the
~1 ortgagor shall glut immediate notice thereof by mail to the Mortgagee and the Mortgagee may make proof of loss if the saint is not promptly
made by the Mongagor" In the event of forcclosurc of this mortgage or other transfer of title to the Properly all right, title and interest of the
Mongagor in and to the ir?;urance policies shall pass to the purchaxr or grantee.
7. If the Mortgagor fails to perform his covenants and agreements contained in this mortgage, or if the Mongagor fails to perform any duty
nr obligation arising under a Prior Mortgage (including the payment of principal and: or interest, deposits on account ottaxes and insurance
premiums and late charges even though the holder of the Prior Mortgage has made no demand tltercttiiderarrd has not threatened any action in
connection with the same), or if any action or proceeding is commenced which materially affects the Mortgagee's interests in the Progeny,
~cluding 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 Properly, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or pans of the sums necessary to
bring the Prior Mortgage current, may make appearances, may enter upon and xcure the Properly, may disburx such other sums (including
h ut sot limited to the payment of insurance premiums and taxes), and may take such other anion as the Mortgages reasonably deems necessary
.,r advisable to protect his interests in the Progeny. all without regard to the value of the Property. Any amounts disburxd by the Mortgagee
pursuant to the provisions of this paragraph, together with interest thereon at the raft of eighteen (18~"r) per cent per annum shall become
additional indebtedness of the Morlgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in wntingto some other terms
;~f payment, such arnounu shall be payable immediately. Nothing in this paragraph shall require the Mortgagee to incur any expcnx, make any
` disburxment or take any action whatever.
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8. All proceeds of any award or claim for damages direct or conxquential in connection with any condemnation or any other taking by
~ eminent domain of the Properly or any earl thereof, or forconveyance in lieu of condemnation oreminent domain are hereby assigned and shall
be paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwix agree in writing (a) all proceeds received by the Mortgagee shall be
applied to the sums xcured by this mortgage vnthout imlios:tion of any prepayment charge, and (b) the application of proceeds shall not extend
or postpone the due date of installmcnu 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
waiver of or preclude the exercise of such right or remedy. The procurement of insurance or the payment of taxes or other liens orcharges 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 matunty of the
indebtedness 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 uw or equity and may be exercised concurrently, independently or successively.
10. To pay all costs charges and expenses including attorney's fees (whether or not litigation occurs and if it does then thox on appellate as
well as trial keel) and abstract costs reasonably incurred or paid at any time by the Mortgagee because of the failure on the pan of the
Mongagor to perform. comply with god abide by all of his covenants xt forlh in this mortgage and / or the Note and! or Prior Mortgage(s) and
the promissory note(s) secured thereby. '
1 I. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. P~ ~ •
iii : wi ePrepared by Stanley H. Spieler, Attorney..4r00 Bisciyat 8oilkrGtrd, Miami, Florida 33137
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