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fG..._}.t. 1' ~.•?.?S vi 1911.
y ' P:ILL:i
CL[AK gaiillT CGItAT. ST. LU:.IE C3). ~ •
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MORTGAGE made the day below set forth between the Mortgagor Ixlow namcJ and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corportation.
WHEREAS, the Mortgagor is indebted to the Mortgagee as es•idcncrd b}• 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 set forth in this Mortgage and the Note. including the
repayment of the indebtedness evidenced by the Notc, interest thereon, sums advanced by the Mortgagee in accordance with the provisions of
this Mortgage to protect the lien and security thereof, and intercst thereon, the Mortgagor does hereby mortgage, grant and convey to the
Mortgagee the real property described below together with {a! all r:+semcnts, rights, tenements, hereditaments, rents, issues and profits
appurtenant thereto; (b) all buildings, structures and ?mprovements now or hereafter located upon said real property, (c) all of the following
presently attached thereto: pipes, plumbing fixtures and cyu?pmrnt, electrical 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, tts successors and assigns in (ee simple.
The Mortgagor convenants that ht is lawfully sei~rd of the estate herefiy consryed and ht has the right to mortgage, gent and convey the
Property, that the Property is unencumbered except ac ma}• br below noted, and that the Mortgagor well warrant and defend the tick to the
Property against all claims and demands.
And the Mortgagor coirnanu and agrees as follows:
1. To promptly pay when due the principal of and interest on the tndebtedness evidenced by the Note and prepayment and late charges u
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 (GO) days prior to the same becoming dehngurnt, 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 dot principal and interest
owing under mortgage(s) of higher priority 1°Prior Slortgagrisl°t, to pn?mpth pay to the holder(s) of Prior Mortgage(s) sums due on account o[
taxes and insurance prcmiums as may be prov+drd for under the pnniswns of the Prior Mortgage(s), and to otherwise fully. promptly and
completely keep and perform all of the promises and convenants of the mortgagor ander Prior Morigagt(s)and the promissory note(s) secured
thereby; all of the foregoing without regard to am• wa?vers, extrnsu~m ur ?ndulgrncrs granted by the holder(s) of Prior Mortgage(s) unksswith
the prior consent of the Mortgagee.
4. Not to apply to, request of, receive or accept from an} 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 emct or permit to be erected any new
buildings on the Property or an}• structural alterations to ex?sung buildings without the Mortgagee's prior written consent• to comply with all
subdivision restrictions and zoning and other regulator}• laws and ordinancts affecting the Property. If the Properiyis a condominium unit, the
Mortgagor shall,promptly and compktely perform all of his obligations under the declaration of condominium and the eondoti>inium
association's ariicks of incorportation, by-laws and rules and regulations and other constituent condomiium documents including but not -
6mited to the payment of aH regular and special assessments, the hens for which against the Property might orcould Gave priority over the lien of
this mortgage. If the Property is part of a planned unit development. the Stortgagor shall prompltytomply with all provisions of the declaration
of covenants and restrictions cstablishtng the same and shall promptl}• fulfill all his obligations undertheconstituentdocumentsof theplanned
unit development including the homeowners association's or its equivalent's articles and by-laws and shall promptlypay aU assessmenu or
charges of every nature (no matter how designated) the lien fpr which against the 1'ropcrty might or could have priority over the Gen 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, haurds.
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 Joe al! prcmiums for such insurance. "the S1 ortgagur :+grces to deliver renewal or replacement policies or certificates therefor to
the Mortgagee at least ftReen (1 S) days prior to the expiration ur ann?versan• date of the existing policies. The amounu of insunaoe required by
the Mortgagee shall be minimum amounts for which said insurance shall be w ntten and it shall be incumbent upon the Mortgagortomaintain
such additional insurance as may be necessar}• to meet and comph~ tulfti with all co-insurance requirementseontained inlaid poheies to theend
that the Morigagoris not a co-insurer thereunder. lmuramr ma} be written by a company or companiesapproved by.the Mortgagee (which
approval shall not be unreasonably withhcld? 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 b}• the Stortgagor which arc accepted b}• the Mortgagee and all agreements betwetn the Mortgagor
and Mortgagee relating to insurance, now• existing ur hereafter made, shall be in w•nung and shall be a part of this mortgage agreement u fully u
though set forth verbatim herein !rid shall govern both panics hereto. \o lien upon any policy of insurance or upon any refund or return
prcmim which may be payable on thF cancellation or termination thereof shall be gtvcn tootherthan the Morigageeexcepta 6olderofa Prior
Mortgage or by proper endorsement affixed to such polic}• and approved M the Mortgagee. Each policy of insunixt shall have affixed thereto a
Standard New York Mortgagee Clause Without Contribution making all loss or losses under such policy payable to the Mortgagee u its
interest may appear. In the event an}• sum or sums of moot}- 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 thercof without
waiving or impairing any equity, lien. or right under and b}• virtue of this mortgage. In the event of loss or physical damage to the Properiythe
Mortgagor shall give immediate notice thercof by mail to the Stortgagec and the Mortgagee may makt proof ofloss if thesameisnot prompfly
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 of the
Mortgagor in and to the insurance policies tihall 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 anyduty
•or obligation arising under a Prior Slongage fincluding the payment of principal and. or interest, deposiu on account of taxes and insurance
premiums and late charges even though the holder of the Prior Mortgage has made no demand thereunder and hu not threatened any aMion in
connection with the same), or if an}• 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 art apparent
abandonment of the Property. then the Stortgagee at its option may pa}• to the holder of a Prior Mortgage all or parts otthe sums necessaryto
bring the Prior Mortgage current, ma}• make appearances, ma}• toter upon and secure the Property, may disburse such other sutras (including
but not limited to the payment of insurance prcmiumsand taxes),and may take such otheractionuthe Mortgagoereasonablydetinsnecessary
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 inters thereon a[ the rate of sixteen (16 per cent per annum shall become
additional indebtedness of the Mortgagor secured by this mortgage. l •nle.ti the Stortgagor and Mortgagee agree in writing to some other terms
of payment, such amounts shall be payable immediateh. \othing in thn paragraph shall require the Mortgagee to incur anyexpense, make any
disbursement or take any action whatever.
8. All proceeds of any award or claim for darriiges direct or consequential in connection with any condemnation or any other taking by
eminent domain of the Prope-try or any part tncrcof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and shall
be paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds reotived by the Mortgagee shall be
applied to,the sums secured by this mortgage without imposition of anv• 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 forbearance by the Mortgagee in exercising an}• right or remedy hereunder or otherwise afforded by applicable law shall not bt a
waiver of or preclude the exercise of such right or remedy. The procurement of insurance or the payment of taxes of other liens oreharges or the
payment of sums under a~Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagee's right to atxeknte the maturity of the
indebtedness se~rcd by 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 equit}• and ma}• be exercised concurrently, independently or sueoessively..
10. To pay al) costs cha;gts and expenses including attorney-'s fees (whether or not litigation occurs and if it does then those on appellate u
well u 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 perlorrt, comply with and abide by ail of his covenants set forth in this morigagtand/or the Note and/or Prior Mortgage(s)and
the promissory i?~te(s) sxurtd thereby.
11. The Mortgagee is a licensed mortgage broker under ('hapter 494, Florida Statutes.
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BL a Rcr.. 3 ZPrtparrd by Startle} t~.:Spieler. Attorney. •3700 Biscayne Boulevard, Miami, Florida 33137