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HomeMy WebLinkAbout0132 ~ ~ t~ Received • =..Ly..,_ M Pwnwnt Ot?vna ~~9~ D..e On Clap "C' Intargipla Paraonal Ptropwhl. V Putyuant To Chapta? 71.14. Ikea 011971. G RoraEa Portiu?s ~yrc ~ ~ H~ cl't~It Ct~aat oouA, u~ oa. pa ~ ~u~ MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, M ETROPOLITAN MORTGAGE CO., a Florida corporiation. W HEREAS, the Mortgagor is indebted to the Mortgagee as rs•idencrd by a certain mortgage note (Note) of even date from the Mortgagor to Mortgagee as described below. To secure to the Mortgagee the performance by the Aortgagor of all his agreements set forth in this Mortgage and the Note, including the repayment of the indebtedness evidenced by the 'Vote, intrryst theryun, sums advanced by the Mortgagee in accordance with the provisions of this Mortgage to protect the lien and security thereof, and intrust thereon, the Mortgagor does hereby mortgage, grant and convey to the Mortgagee the real property described below together with (a) all easements, rights, tenements, hereditaments, rents, issues and profits appurtenant thereto; (b) all buildings, structures and impnn•rments now or hereafter located upon said real property, (e) all of the following presently attached thereto: pipes, plumbing C~xtures and ryuipn?rnt, rlcctrioal conduit and wiring and fixtures, heating and cooling and air conditioning equipment and fixtures, sprinkling and irrigation equipment and fixtures, pumps, fences and awnings; and (d) range, oven and refrigerator Qresently 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 simply. The Mortgagor convenants that he is lawfulh• soiled of the rstaty heuby con~ycrd end he has the right to mortgage, grant and convey the Properly, 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: 1. To promptly pay when due the principal o(and interest on the indebtedness ys•idenced by the Note and prepayment and latecharges as provided therein. 2. To pay all taxes, assessments, charges, fines and other impositions of gos•ernmental authorityagainst the Property within sixty(60)days of when dot or sixty (t50) 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) s1"), 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 Alongage(s), and to otherwise 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(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 scoured 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 with all subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Property. if the Property is acondominium 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, b}••law•s and rules and regulations and other constituent condominium documents including but not limited to the payment 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 of covenants and restrictions ystablishing the same and shall promptly fulfill all his obligations under theconstituent documentsof 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 designated) the lien for which against the Property might or could have priority 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 Mortgagee and to pay promptly when Jue all PPremiums for such insurance. The Mortgagor agrees to deliver renewal or replacement policies or certificates therefor to the Mortgagee at least fefteen (1 S) days prior to the expiration or anniversary date.pf the existing policies. The amounts of insurance required by the Mortgagee shall be minimum amounts for which said insurance shall be writtenand it shall be incumbent upon the Morigagortomaintain such additional insurance as may be necessary to meet and comply fully with all co-insurance requirements contained in said policies to theend that the Mortgagor is not a co-insurer thereunder. Insurance ma}• be written by a company or companies approved by the Mortgagee (which approval shall not be unre>isgnably 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 Morigag~r which are accepted by the Mortgagee and all agreements 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 though set forth verbatim herein and shall gos•ern both parties hereto. do lien upon any policy of insurance or upon any refund or return 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 properendorsement affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a Standard New York Mortgagee Clause Without Contribution making all loss or losses 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 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 interest a 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 pa}•ment 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 thereunderand has not threatened anyaMion 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 isan apparent abandonment of the Property, then the Mortgagee at its option ma}• 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 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 salue 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 (16c'~) per cent per annum shall become additional indebtedness of the Mortgagor secured by this mortgage. l'nless the Mortgagor and Mortgagee agree in writing to some other terms of payment, such amounts shall be payable immediately. \othing in this paragraph shall require the Mortgagee to incur anyexpense, make any 3 disbursement or take any action whatever. ~ 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 tnerebf, or for conveyance in lieu of condemnation or eminent domain arc hereby assigned and shall be paid to the Mortgagee Unless the Mortgagor and Morigagce otherwise agree in writing (a) all proceeds received by the Mortgagee shall be applied to the sums secured by this mortgage without imposition of an}• prepayment charge, and (b) the application of proceeds shall not extend or postpone the aue date of installments of principal and interest or change the amounts thereof. 9. Any torbcaranix 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 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 maturity of the indebtedness stcurc*: l?y this mortgage. All remedies provided in this mortgage are 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 and if it does then those on appellate as well as trial kvelraod abstract costs reasonably incurred or paid at any time by the Mortgagee because of the failure on the part of the . Mortgagor to perform, c~:n{.ly with and abide by all of his covenants set forth in this mortgage and! orthe Noteand/or Prior Mortgage(s) and the promissory note(s)secured thereby. I 11. Tht Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. v~~ 1~ fll 7 Rc~ . 1 Prepared by Stanlc}~ H. tipirlcr, :~ttornrs. ~(~H~sca}ne BouAt?2rrd; Miami, Florida 33137 - ~ r - ' E..~~, _ ,3.. .-et "~iG~ o.