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REAL f'STATE 11tORTGAGE
THIS MORTGAGE made this day of ~Itt1~l 19~T_. Between 1~ttl7t~b ~d
Pablo ~a~asso or 101Y 16th Qt•, ?t. M~4
$t. i~~~ County, Florida, hereinafter called the Mortgagor, and
Ot P~~'O~ ~ a Z~tYO,~ n>Oa~~ Corporation, hereinafter called the Mortgagee.
WITNESSETtl: That said Mortgagor, in consid<•ration of the principal sum specified in the promissory note here-
inafter described, receiYYed ~Fo_m the Mortgagee, herrby mortgages and incumbers in favor of the said Mortgagee. the real
property situated in 8Y• ~3•~ County, State of Florida, described as follows:
Tiot 11 Bloo]c 2, Eillarat Sabdi~ision
Plat Book 4 Pam 41L
St• Lpoio~ ~7o~atai' ;
R~osiyad • ~ " ~ ~ M past Of TaxK
Ow On Class "C" intargibls Prraortal prop~.h•
pursuant To Chapter 71,134. Rota p11p
ROGER P"OiTRA$
thr! C1rcWt Coup. SL facia, Co,.,~gr. .
as security for the payment of a promissory note, a copy of which is attached hereto, and incorporated herein by reference.
The said Mortgagor does covenant with the said Mortgagee that the said Mortgagor is indefeasibly seized of said
land in fee simple and has the full power and lawful right to mortgage and incumber the same, that the said land is free from
all incumbrances except as above noted, and that the said Alortgagor, except as above nded, does fully warrant the title
to said land and will warrant and defend the same against the lawful claims of all persons whomsoever.
AND THE SAID MORTGAGOR does further agree as follows:
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1, To make promptly all payments required by the above described note and this mortgage as .such payments
I become due.
' 2. To pay promptly when due all taxes, assessments, liens, and incumbrances on said property.
3. T. o keep the buildings now or hereafter on said land insured against damage by fire, lightning, windstorm of
other casualty in a sum not less than the sum secured by this mortgage, in a company or companies satisfactory to the
i ~iortgagec, said policy to be held by and payable to the T?iortgagce to the extent of the indebtedness remaining at the time
of the toss. If any sum becomes payable under such insurance policy, the Mortgagee may either apply it to the indebtedness
crured by jhis mortgage, or permit the Mortgagor to use it for other purposes, without impairing the lien of the mortgage.
4. To permit, commit or~suffcr~rYo waste, impairment or deterioration of the mortgaged property.
If any payments provided far in the note on thisamortgagc• are not promptly paid by the :1lortgagor. if the buildings
an• not kept insured as provided, or if the• \lortgagor defaults in any of thc• other covenants, stipulations, or agreements,
th~• Mortgagee, without waiving or affecting the optietr•tofforc~close, may otherwise perform any of the covenants or agree-
mr•nts on behalf of the Mortgagor, and any and alt such Sums or expenses-paid or incurred, with interest thereon from the
t -fate of payment at thc• rate of interest prescribed in the note secured by this mortgage, shall also be secured by this
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mortgage.
6. This mortgage li~rt shall extend to and include all rents and profits of the mortgaged property. In the event of
iereclosure the court is authorized to appoint a receiver of the mortgaged property and to apply such rents or profits to the
.nrtebtednesS hereby secured, regardless of the solvency of the \lortgagor or the adequacy of the security.
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' 7. This mortgage shall exit•nd to and include am• and all extensions :.nd renewals of the hereinabave described
note and shall also secure am• sum or sums that might he loaned by Mortgagoe to Mortgagors in the future in the sum or
-ums (or which Mortgagors shall execute• their negotiable promissory notes, not exceeding ?25,000.00, together with
i Interest, taxes, levies, and insurance.
8. If any payment provided for ir. the nut~• car this mortgage be not paid within thirty days after it becomes due, or
If any agreement of this mortgagr other than for the payment of money is breached, then the unpaid balance, not including
un~~arnc•d interest, shall immediately become Niue ;inri parable at thr option of the Jortgagee, and the Mortgagee may fore-
c•lose• this mortgage in accordance w?th proc~ dur~•s • s:ablish~•d by law, and have the property sold to satisfy or apply on the
indebtedness hemby secured.
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