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HomeMy WebLinkAbout1187 ~ REI;ElYFO : 6 • S Rll PAYMENT OF TAXES 7 5.~~ OUE 0!t Clt;ot 'C INTAN6 8lE PiRSilttll PROPERLY. YURSiJANT TO i,NAPTEt 71-'~~, ACTS OF N)1. ~T ~ _Y,____ ..__r_ _ _ J ~ _ R06ER POITRAS • t.r ~ ~ ;CL[RK p>?.f,IAT COWtT. ST. t,11i~E C0. F1ArQ ~ _ ~ .ot' - ~ MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, M ETROPOLITAN MORTGAGE CO., a Florida corportation. W HEREAS, the Mortgagor is indebted to the Mortgagee as evidenced 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 Mortgagor of all his agreements set forth in this Mortgage and the Note, including the rcgayment 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. grant and convey to the Mortgagee the real property described below together with (a) all easements, rights, tenements, hercditaments, rents, issues and proCts appurtenant thereto- (b) all buildings, structures and Improvements now or hereafter located upon said real property, (c) all of the following presently attached thereto: pipes, plumbing fixtures and equipment. electrical conduit and wwnng and fixtures, heating and cooling and air conditioning equipment and fixtures, sprinkling and irrigation equipment and fixtures, pumps, fences and awnings; and (d) Hoge. oven and refrigerator Qresently 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 suetxssors and assigns in fee simple. The Mortgagor convnnants 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 de[end the tick 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 f~Note and prepayment and late charges as 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 (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 Prior Mortgage(s) sums due on aceount of taxes and insurance prcmtums as may be provided for under the provisions of the Prior Mortgage(s), and to otherwise fully, promptly and compktely 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 torcgoing 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 secured by the lien of such Prior-Mortgage. S. Not to commit waste or permit or suffer the.impairment o~ deterioration of the Property; not to erect or permit to be erected any new buildings on the Property or any structural attentions 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 assoclation's articles of incorportation, by-laws 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 u part ota planned unit development, the Mortgagor shall promptty complywith all provisions of the declaration of covenants and restnctions esubhshing 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 assessments or charges of every nature (no matter how designated) the lien for which against the Property might or could have pnonty over the Gen of this mortgage. 6. To keep ail the Property insured as may lee 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 due all ppremiums for such insuniice. The Mortgagor agrees to deliver renewal or replacement policies or certifiptes therefor to I' the Mortgagee at kart fJteen (1 S) days prior to the expiration or anniversary date of the existing pollees. The amounts otinsurance required by the Mortgages 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 all co-insurance requirements contained in said policies to the end that the Mortgagor is not a co-insurer thereunder. lnsunnce may be written by a company or companies approved by the Mortgagee (which approval shall not be unreasonbllr 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 Mortgagor 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 govern both parties hereto. No 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 excepts holder of a Prior N ortgagc or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of insurance shag have affixed thereto a Standard New York Mortgagee Clause Without Contnbution making aU 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 waivlmg or impairimg 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 o(this mortgage or other transfer of tick 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 perform his covenants and agreements comtained 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), on 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 is an apparent abandonmemt of the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts otihe sums necessary to I bring the Prior Mortgage current. may make appeannoes. may enter upon and secure the Property, may disburse such other sums (including but not Gmitcd to the payment of insunnoe premiutiu 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 value of the Property. Any amounts disbursed by the Mortgagee pursuant to the provisions of this pangnph, together with interest thereon at the rate of sixteen (1690) per cent 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 pangnph shall require the Mortgagee to incur any expense, make any disbursement or take any action whatever. 1 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 orany part ttlercot, or forconveyance in lieu of condemnation oreminent domain arc hercbyassignod and shall be paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagee shall be a~plicd to the sums secured by this mortgage without imposuion of any prepayment charge, and (b) the application of proceeds shall not extend or postpone the cue date of installments of principal and interest or change the amounts thereof. E 9. Any forbearance by the Mortgagee in exercising any right or rcmody hereunder or otherwise afforded by applicable law shall noCbe a waiver of or prceltide the exercise of such nght or remedy. The procurement 6f 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 Mortgagcds right to accelerate 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 affmled isy law or equity and may be exercised concurrently, independently or successively. 10. To pay aU costs charges and expenses including attorney's fees (whether or not litigation occur and if it does then thoseon appellate as well as trial level) ctrl abstract costs reasonably incurred or paid at anytime by the Mortgagee becatise of the failure on tie part of the Mortgagor to perform, ooinply wiAs and abide by all of his covenants set forth in this mortgage and/ or the Noteand/or Prior Mortgage(s) and the promissory note(s) secured thereby. 11. The Mortgagee is a licensed mortgage bp1~A.under Chaptfr~9~Florida Statutes. P~E~V~~// ~ P ~ et. t Rc... ~ aPrepared by Stanley H. Spieler, Attorney, 4700 Biscayne Boulevard, Miami. Florida 33137 -