HomeMy WebLinkAbout2161 RECf11fED = g•
3
~ 111 PAYt/.tYT OF TARE=
CUc OY Ch£S 'C' 19TH+:C elf Fi SS~i,:;l PRJ~EsTY,
U PUc:~J:.Ni TO . li :?T:i 71- . 1, l;13 Cf I!!1.
i'' 3 l..1:R P.IT~ A;
CLiFK q:,.UcT COURT, ST. lUolE CO. - 4943~'~
•
. ~w~'~
MORTGAGE made the day below xt forth between the Mortgagor below namtd and the Mortgagee. METROPOLITAN MORTGAGE ~
CO., a Florida corportation. .
WHEREAS. the Mortgagor is indebted to the Mortgagee as evidenced by a certain mortgage note (Note) of even date from the Mortgagor
to Mortgagee u described below.
To secure to the Mortgagee the performance by the Mortgagor of all his agreements xt forth in this Mortgage and the Note, including the
repayment of the indebtedness evidenced by the Note, interest thereon, sums advanced by the Mortgagee in aceordance with the provisions of
this Mortgage to protect the lien and secunty thereof, and interest thereon, the Mortgagor does hereby mortgage, grant and convey to the
Mortgages the • real property described below together with (a) all eaxments, rights, tenements, hereditaments. n:nts. issues and profits
appurtenant thereto; (b) all buildings. structures and improvements now or hereafter located upon said real property, (c) all of the following
prexntly attached thereto: pipes, plumbing fixtures and equipment. electrical conduit and wrong and fixtures. heating and cooling and air
conditioning equipment and ixtures, sprinkling and irrigation equipment and fixtures. pumps, fences and awnings; and (d) range, oven and
refrigerator presently 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 convenants that he is lawfully xized 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 ss
provided therein. _
2 To pay all taxes, assessments, charges, fines and other impositions of governmentalauthority against the Property within sixty (60) days
of when due or sixty (60) days prior to the same becoming delinquent, whichever may first oceur.
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 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 otherv?nx fully, promptly and
compktely keep and perform all of 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(es) 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 scoured by the lien 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 any 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 the Property. if the Property is a condominium unit, the
Mortgagor shall, promptly and compktely 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 act
limited to the pa went of all regular and spenal asxssments, the liens for which against the Property might or could have priority over the lien of
this mortgage. It the Property is part of a planned unit development, tht Mortgagor shall promplty comply with all provisions of the declaration
of coverunu 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 asxssments or
charges of every nature (no matter how designated) the Gen for which against the Property might or could have pnonty over the lien of this
mortgage.
6. To keep all the Property insured 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 amounts as may be reasonably required by the Mortggaaggoeee and to pay
promptly when due all premiums !or such insurance. The Mortgagor agrees to deliver renewal or replacement policies orcertificates therefor to
the Mortgagee at least. ~ttan (1 SJ 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 maybe necessary to meet and comply fully with all co-insurance requirements contained in said pohcies 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 shat! beheld by trio Mortgagee unless in the possession of a holder of
a Pnor Mortgage. AU detailed designations by the Mortgagor which arc accepted by the Mortgagee and cell agreements between the Mortgagor _
it and Mortgagee relahti~~~trggto ~nsui~roe, now existing or hereafter made, shall be in writing and shall be a part of this mortgage agreement as fully as
though xt forth vcrKatirn'hercin and shall govern both parties hereto. No lien upon any policy of insurance or upon any refund or return
k premium which may be payable on the cancellation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
Mortgage 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 aQ loss or losses. under such policy payable to the Mortgagee ss its
interest may appear. la the event any sum or sums of money become payable thereunder tt!e Mortgagee shall have the option to receive and
apply the same on aceount of the indebtedness secured hereby or to permit the Mortgagor to receive and six it or any part thereof without
waiving or impairing any equity, Geri, or right under and by virtue of this mortgage. In the event of loss or physical damage to the Propertythe
Mortgagor shall give immediate notice thereof by mail to the Mortgagee and the Mortgagee may make proof~i loss if the same is not promptly.
made by the Mortgagor. In the event of forcclosurc of this mortgage or other transfer of tick to the Property all right, tick and interest of the
Mortgagor in and to the insurance policies shall pass to the pun:haxr or grantee.
7. If the Mortgagor faits to perform his covenants and agreements contained in this mortgage, or if the Mortgagor fails to perform any duty
or obligation arising under a Pnor Mortgage (including the payment of principal and/or interest, deposits on account of taxes and insurarcee }
premiums and Tate 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 Mortgageds interats 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 apparcht
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 necessary to
bring the Prior Mortgage current, may make appearances, may enter upon and secure the Property, may disburx such other sums (including
but not limited to the payment of insurance premiums aced taxes), and may take such other action as the Mortgagee reasonably deems noce:sary
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 sixteen (1696) per vent 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
of payment, such amounts shall be payable immediately. Nothing in this paragraph shall require the Mortgagee to incur anyexpense. make any
disbursement or take any action whatever.
8. AU proceoda 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 arc 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 secured by this mortgage without imposition of any prepayment charge, and (b) the application of proceeds shall not extend
or postpone the sue date of installmenu 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 exercix of such right or remedy. The procurement of insurance or the payment ottaxes 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's right to aoceterate the matunty of the
indebtedness secured~bj+ this mortgage. All remedies provided in this mortgage are distinct and cumulative to any other right or remedy under
this mortgage or affordeld by law or equity and may be exorcised concurrently, independently or successively.
10. To pay all costs charges and expenses iochr>?1rlg attorney's foes (whether or not litigation occurs and if it does then thox on appe0ate as
well as trial keel) and abstract costs reasonably inCUrred or paid at any time by the Mortgagee because of the failure on the part of the
Mortgagor to perform, comply with and abide by all of his covenants xt forth in this mortgage and/ or the Note and/ or Prior Mortgage(s) and
the promissory Haa(s) secured thereby.
I 11. The Mortgagee is a licenxd rttortgage broker under Chapter 491, Florida Statutes.
(
BL/~~ey~~ oprepared by Stanley H. Spieler, Attorney, 4700 Biscayne Boulevard, Miami, Florida 33137
11 ~ 1
- - -