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5 ~p = ~ pl ?AtttlllfT OF TA1tF~
OUE ON CLASS 'C' INTAH6:BLE PEASOKAL PROPERTY.
° . - PURSUANT to c11Ar>~~n tt~iw~iTSt orF >~ri ~Str~} & Tjt1e Corp. o f
aEwc aRaNr COIIIIT.:T. tllpE c0. R~~~ - Florida
MORTGAGE. made the day below set forth between the Mortgagor below named and the Mortgages. METROPOLITAN MORTGAGE
CO., a Florida corportation.
WHEREAS, the Mortgagor is indebted to the Mortgagee as.evidenoed by a certain mortgage note (Note) of even date from the Mortgagor
to Mortgagee as described below.
To secure to the Mortgagee the performaaoe by the Mortgagor of cell his agreements set forth in this Mortgage and the Note, including the
«Qayment of the indebtedness evidenced by the Note, interest thereon, sums advanced by the Mortgagee in accordance with the provisions of
thts Mortgage to protect the lien and security thereof, and interest thereon, the Mortgagor does hereby mortgage. gent and convey to the
Mortgages the real property described below together with (a) all easements, rights, tenements, hereditamcnts, rents, issues and profits
appurtenant thereto; (b) all buildings, stnictura and improvemenu now or hereafter located upon aid real property, (c)all o[ the following
presently attached thereto: pipes, plumbing fixtura and equipment, ekarical conduit and wrong and factures. heating and cooling and air
conditioning equipment and factures, span hng and irrigation equipment and fixtura, pumps, fences and awnings; and (d) range, oven and
refrigerator presently upon the premises; all of the foregoing arc herein referred to as the "Property." To have and to hold the same unto the
Mortgagee. its successors aced 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 warnat and defend the title to the
Property against all claims and demands. 1
And the Mortgagor rnvenant: and egress ss follows: 4
1. To promptly pay when due the principal of and interat on the indebtedness evidenced by the Note and prepayment and late charges as
provided therein. - i
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 oxur.
3. If it is noted below that this is a second or other subordinate ranked mortgage, then to promptly pay when due principal and interat `
owing under mortgage(s) of higher priority ("Prior Mortgage(s)"), to promptly pay to the holder(s) of Pnor Mortgage(s) sums due on aceount 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 of the promises and covvenants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all of the Iorcgoiag without regard to any waivers, extensions or indulgences granted by the holder(s) of Pnor 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 hen of such Pnor 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 say new
buildings on the Property 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 rho Property. if the Property is a condominium amt, the
Mortgii~or~shaU,promptly and completely perform cell of his obGgationa under the declaration of condominium and the condominium
association s articles of incorportation, by-laws and rules and rcguhttions and other constituent condominium documents including but not
limited to the pa meat of all rc~iilar and special assessments, the Gera 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 ratrictioas establishing the same and shall promptly fuUill all his obligations under the constituent documents of the planned
unit development including the homeowners association
s or its e4uivaknt's articles and by-laws and shall promptly pay cell a:seumeata or
charges of every nature (no matter how designated) the Gen for which against the Property might or could Gave priority over the Gen of this
mortgagt.
6. To keep all the Property insured as may be required from time to time by the Mortgagee against loss by fire, windstorm, haurda.
casualties and contingencies for such periods and for not less than such amounts as may be reasonably required by the Mort and to pay
promptly when due all ppremiums for such insurance. The Mortgagor agrees to deliver renewal or replacement policies or cx ~ icata therefor to
the Mortgagee at least fdteen (I S) days prior to the expiration or anniversary date of the existing policies. The amounts of iaturance required by
the Mortgagor shall be minimum amounts for which said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain ~
i such additional insurance as may be necessary to meet and comply fully with a!1 co-insurance requircmeats 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 shat} not be uarea>jpnably withheld) and all policies and renewals shall beheld by the Mortgagee unless in the possession of a holder of ;
a Prior Mo All ddaikd designations by the Mortgagor which arc accepted b)r the Mortgagee and all agreements between the Mortgagor
and Mortgagee relating to insurance. now existing or hereafter made. shall be is 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 ben upon any poGry of insurance or upon any refund or return
premium which may be payable on the cancellation or termiaatioa thereof shall be given to other than the Mortgagee except a holder of a Prior
M ortgage or by proper endorsement affixed to such polic)r and approved by the Mortgagee. Each policy of insurance shall have affuced thereto a
Standard New York Mortgagee Clause Without Contribution making all loss or losses under such policy payable to the Mortgages as its
interest may appear. In the event any sum or sums o! money become payable thereunder the Mort$ages sha116ave the option to receive and t
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 orimpairing any equity, Gen, or right under and by virtue of this mortgage. Ice 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 proo[of loss if the same is not promptly
made by the Mortgagor. In the event of foroclosurc of this mortgage or other transfer of title to the Property all right, title and interat 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 agresmeats 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 interats in the Property,
i ncluding but not limited to eminent domain or code enforcement or arnngements involving a bankrupt or decedent. or J there is an apparent
abandonment of the Property, then the Mortgagee at its option may pay to file holder of a Pnor Mortgage all or parts of the sums necessary to
bring the Prior Mortgage current, may make appearances, may enter ripen and secure the Property, may disburse such other sums (including
but not limited to the payment of irisuraace prcauums and taxes), and may take such other action as the Mortgagee reasonably.deems aesessary
or advisable to protect his interats 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 interat thereon at the rate of sixtesn (16~) per cent per annum shall become
additional itidebtcdness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in wntmg to some other terms ~
of payment, such amounts shall be payable immediately. Nothing in this paragraph shall require the Mortgagee to incur any expense, make aay
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 aay other taking by
e minent domain of the Property or aay part tnereof, or for conveyance in lieu of condemnation or eminent domain arc hereby assigned and shall
be paid to the Mortgagee. Unless the Mortgagor and Mortgages otherwise agree in writing (a) all proceeds received by the Mortgagee shall be
applied to the sums secured by this mortgage vnthout imposition of any prepayment charge, and (b) the application of proceeds shall not extend
or postpone the cue date of installments of principal and interat or change the amounts thereof.
9. Any forbearance by the Mortgages 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 insnrance or the payment of taxes or other Dens or charges or the
payment of sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagee': right to aoaknte the maturity of 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 law 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 sad if it does then those on appellate as
well as trial keen and abstract costs reasonably incurred or paid at any time by the Mortgagee beause of the failure on the-part of the i
Mortgagor to perform, comply with and abide by all of his covenants set forth in this mortgage and/ or the Note sad J or Prior Mortgage(s) and
the promissory~ijite(s) secured thereby.
11. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. t1R~1 PAriE~rVW
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et.. 3 R~~., ~ oPrcparcd by Stanle~ FL ~i~ler, Attorhgy~ 4700 Biscayne Boulevard, Miami, Florida 33137 ~