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HomeMy WebLinkAbout0718 REC[:VED i 8.95 tll PAYNIfNT Of TAxE= '4~~~ GJ: Ca CL SS •C' IMIAI;.:BLE P:RSC'~:1 PRO`EkTY, ,•j5 PU~.SJAIIT TO 6iU1PiER 71•I:A, AGTt OF N71. - _ R06ER PORitAS ; ~ . . = . ` . CLCRII ptGYR COrilir iT. LYtTE OOi. R~~hI' . ~ - r 4 i MORTGAGE made the day below set forth betwan the Mortgagor below narmod and the Mortgagee, METROPOLITAN MORTGAGE CO., a Florida corportation. W HEREAS. the Mortgagor is indebted to the Mortgagee ss evidenced byes certain mortgage note (Note) of even date from the Mortgagor to Mortgagee as 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 reQayment of the indebtedness evidenced by the Note, interest thereon, sums advanced by the Mortgagee in accordance with the provisions of thu Mortgage to protect the lien and securty thereof, and interest thereon, the Mortgagor does hereby mortgage. grant and convey to the Mortgages the real property described below together with (a) all easements, rights, tenements, hereditaments, rents, issues and profits appurtenant thereto; (b) all buildings, stntctures 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 wiring and fixtures, heating and cooling and air ' conditioning equipment and tuc~tures, sprinkling and irrigation equipment and fixtures, pumps, tenon and awnings; and (d) range, oven and refrigerator presently upon the premises; all of the foregoing are hereto referred to as the "Property." To have and to hold the same unto the Mortgagee. its successors and assigns in fee simple. t 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: 1. 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. ~ i 2. To pay all taxes, assessments. charges, fines and other impositions of governmental authority against the Property within sixty (60) days i of when due or sixty (60) days prior to the same becoming delinquent, whichever may tint 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 of the promises and convnnants 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 theholder(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 rnmmit 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 wlth 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 completely perform all of his obligations under the declaration of condominium and the condominium association's articles o[ Incorporiation, by-laws and rules and regulations and other constituent condominium documents including but not limited to the pa meat of all rc~ular and special assessments, the Dens for which against the Property might or could have priority over the Gen of - this mortgage. if the ProQeriy rs part of a planned unit development, the Mortgagor shall promptty comply with all provisions of the declaration 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 e4uivaknt's articles and by-laws and shall promptly pay all assessments or charges ~f every nature-(no matter bow designated) the lien for which against the Property might or could have priority aver the lien of this mortgage. • 6. To keep all the Property insured as may be required from time to time by the Mortgages 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 due all ppremiums for such insurance. The Mortgagor agrees to deliver renewal or replacement policies or certJeates therefor to the Mortgagee at least fdtan (1 S) days prior to the expiration or anniversary date of rho existing policies. The amounts of insurance 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 such additional insurance as may be necessary to mat 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 written by a company or companies approved by the Mortgages (which approval shall not be unreasonably withheld) and all policies and renewals shall be held by the Mortgages unless im the possession of a holder of a Prior Mortgage. A~1 det~i~d designations by the Mortgagor which arc aaepted b)r the Mortgages and all agreements betwesn the Mortgagor and Mortgagee trjatt4gtlD iofutanoe, nowexistrng or hereafter made, shall be in writing and shall be a part of this mortgage agrament as fu[ly as though set forth verbatim herein and shalt govern both parties hereto. No lien upon any policy of insurance or upon amy refund or return ` premium which may be payable on the cancellation or termination thereof shall be given to other than the Mortgages except a holder of a Prior Mortgage or by properendorsetnent aflixod to such polic}rand approved by the Mortgages. Each policy of insurance shag have affixed thereto a Standard New York Mortgages Clause Without Contribution making all loss or losses under such polity payable to the Mortgages u its interest may appear. In the event any sum or sums of money become payable thereunder the Mori~,sges shall have the option to receive and apply the same on aceount of the indebtedness secured hereby or to permit the Mortgagor to rcarve and use it or amy part thercot without waiving or impairing any equity, lien. or right under and by virtue of this mortgage. Im the event of loss or physical damage to the Property the Mortgagor shall give immediate notice thereof by mail to the Mortgages and the Mortgagee may make proof of loss Jthe 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 of the Mortgagor in and to the insurance policies shall pass to the purchaser or grantee. 7. if the Mortgagor fails to 41erfonn his covenants and agreements contained im this mortgage, or if the Mortgagor fails to perform amy 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 modemahd thercunderand has not threatened anyaction in . connection with the same), or if any action or proceeding is commenood which mauiiaUy affects the Mortgages's interests in the Property, including but noT limited to eminent domain or code enforcement or arrang~mehts involving a bankrupt or decedent, or J there is an apparent a bandonmcnt of the Property, then the Mortgages 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 onur upon and secure the Property, may disburse such other sums (including but not limited to the payment of insurance premiums and taxes), and may takgsuch other action as the Mortgagee reswhably deems recessary - or advisable to protect his interests in the Property, all Without regard to the value of the Property. Any amounts disbursed by the Mortgages pursuant to the provisions of this paragraph, together with interest thereon at the rate of sixtan (164b) per cent per annum shall become additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgages agree in writing to some other terms ~ of payment. such amounts shall be payable immediately. Nothing rn this 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 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 Geu 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 Mortgages 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 installments of principal and interest 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 gt~ierayde 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 Mortgages shall not be a waiver of the Mortgagee's right to aaxkrau the maturity of the indebtedness secured by this mortgage. All remedies provided in this mortgage are distinct and cumulative to espy other right or remedy under this mortgTge-or ~ffordcd by law or equity and may be exercised concurrently, independently or strcoessively. 10. To pay a rusts charges and expenses including attorney's fees (whether or not litigation occurs and if it does then those on appeilau as well as trial level) and abstract costs reasonably incurred or paid at any time by the Mortgages because of the failure on the part of the Mortgage- tp perform, comply with and abide by all of hi: covenants set forth in this mortgage and/ or the Nou ahd/ or Prior Mortgage(s) and the promissory mote(s) secured thereby. ' 11. The Mortgagee is a licensed mortgage broker under Chapter 494, Florida Statutes. P~ ~is 4 BL 3 Rev.. 1 oPrcparcd by Stanley H. S~rie~~Attorney,'4700tBi>~yne Boulevard. Miami. Florida 33137 i _ ~ - ~~ti - ` 5 _ ?S