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MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corportation.
WHEREAS, the Mortgagor is indebted to the Mortgagee as evidenced byes certain mortgage note (Note) oievendate from the Mortgagor
to Mortgagee as described below.
To secure to the Mortgagee the performance by the Mortgagor of all his agreements set forth ~n this Mortgage and the Note, including the
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 security thereof, and interest thereon, the Mortgagor does hereby mortgage, grant and convey to the
Mortgagee the real property described below _toge~lier 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: pi ,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 awning:; and (d) range, oven and
refrigerator presently upon the premises; all of the foregoing arc herein rekrrcd to as the "Property.° To have and to hold the same unto the
Mortgagee, its successors and assigns in fee simple.
The Mortgagor convenants that he is lawfully seized of the estate 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:
I . 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
completely keep and perform all o[ 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 any waivers, extensions or indulgences granted by 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, funds or things of value which would,
might or could be considered as an advance secured by the lien 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 any new
buildings on the Property or any structural alterations to existing buildings without the Mortgagee's prior written consent- to comply vnth all
subdivision restrictions and zon?ng 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 incorportation, by-laws and rules and regulations and other constituent condominium documents including but not
li mired to the pa ment 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 part of a planned unit development, the Mortgagor shall promplty comply with all provisions of the declaration f
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 astessments or
charges of every nature (no matter how designated) the lien for which against the Property might or could have pnonty over the Gen of this
mortgage.
6..To keep all the Property,insurcd 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 amounu as may be reasonably required by the Mortgagee and to pay
~ promptly when due all Premiums for such insurance. The Mortgagoragrees to deliver renewal or replacement policies or certificates therefor to
! 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 Mortgagortomaintain
such additional insurance as may be 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 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 Mortgagee unless in the possession of a holder of
a Prior Mortgage. All detailed designations by the Mortgagor which arc accepted by the Mortgagee and all agreemenu 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
E 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 may be pays la ot; the cancellation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
e Mortgage or by propecendor~ment affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a
Standard New York Mortgagee Clause Without Contnbution making all loss or losses under such policy payable to the Mortgagee as its
intcrcst may appear. In the event any sum or sums 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 Property the
Mortgagor shall give immediate notice thereof by mail to the Mortgagee and 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 transfer of title to the Property all right, title and intcrest of the
!Mortgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mortgagor fails to perform his covenants and agreements 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 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 .
connection with the same), or if 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 at its option may pay to the holder of a Prior Mortgage all or parts of the sumsnecessary 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 taxes), and may take such other action 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
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 venting to some other terms
a of payment, such amounts shall be payable immediately. Nothing in this paragraph shall require the Mortgagee to incuranyexpense, make any
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 Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and shall
g be paid to the Mortgagee. nleu the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagee shall be
s applied to the sums secured by this mortgage without imposition of any prepayment charge, and (b) the application of proceeds shall not extend
u or postpone the due date of installments of principal and interest or change the amounu thereof.
Z 9. Any forbearance by the Mortgagee in exercising any right or remedy hereunder or otherwise afforded by applicable law shall not be a
i waiver of or preclude the exrrcise 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 matunty o(the
~ indebtedness secured by this mortgage. All remedies provided in this mortgage arc distinct and cumulative to any other right or remedy under
this mortgage or afforded by raw 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 those on appellate as
well as trial level) and abstract costs reasonably incurred or paid at any time by tht 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. ~
I1. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. 8~~ t~~
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hi. z ~ bPrcpared by Stanley H. Spieler, Attori~y, 4100 Biscayne Boulevard, Miami, Florida 33137
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