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R!C[1YE0 IN ?ATMIfIfT OF TAX>Y ~1
_ rj Dl'E OY CLsS! 'C' INTANG'!LE PeR50'-t:.l PROPERTY, I
~ ~ = ' ' - _ " r ; - - ; t U':~~1;NT TO l:HAP1ER 71-1~4, ACTS OF 1!)1.
F ~ - - ROGER PCIT?tAS
, t <,z~•~ r,z+ - - CL:RK q:2GlhT COYRT, gT. tY;~E CO. FT,A.~ ~/~V
MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corportation.
W H E R E AS, 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 b}• the Mortgagor of all his agraments set 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 aceordantx with the provisions of
this 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 profits
appurtenant thereto; (b) all buildings, structures and improvements now or hereafter located upon said real property, (c)all of the following
presentl}• attached thereto: pipes, plumbing fixtures and equipment, electrical conduit and wiring and fixtures, heating and cooling and air
conditioning equipment and fixtures, sprinkling and irrigation equipment and Gxturcs, pumps, fences and awnings; and (d) range, oven and
refrigerator (+resently upon the premises; all of the foregoing arc herein re[errcd to as the "Property." To have and to hold the same unto the
Mortgagee, its successors and assigns in ice simple.
The Mortgagor convenants that he is lawfully seized of the estate hereby conveyed and 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 well wamnt 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 thercin-
2. Tu pay all taxes, assessments, charges, fines and other impositions of governmental authorityagainst the Properly within sixty (60) days
of when due or sixty (60) days prior to the same becoming delinquent, whichever may Crst occur.
3. 1f it is noted belovv that this is a second or other subordinate ranked mortgage, then to promptly pay when due principal and interest -
owingunder 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 otherwise fully, promptly and
completely 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 an}• waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prior consent of the Mortgagee.
4. lot to appl}• ta, 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 or deterioration of the Property; not to erect or permit to be erected any new
buildings on the Property or an}• 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. lithe Property isa condominium unit, the
Mortgagor shall,promptl}• and complete)}• perform all of his obligations under the declaration of condominium and the condominium
association's articles of incorporation, 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 Properly might orcould have priority over the lien of
this mortgage. If the Properly is part of a planned unit development, the Mortgagor shall prompltyeomply with all provisions of thedeclantion
of covenants and restrictions establishing the same and shall promptly fulfill all his obligations under theconstituent 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 dcsigiiatcd) 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 fur such periods and for not less than such amounts as may be reasonably required by the Mortgagee and to pay
promptly when due all premiums for such insurance. The Mortgagor agrees to deliver renewal or replacement policies or certificates thereforto
the Mortgagee at least fifteen (I S) days prior to the expiration or anniversary date of the existing policies. The amounts of insunnce required by
the Mortgagee shall be minimum amounts for which said insurance shall be written and it shall be incumbent upon the Mortgagortomaintain
such additional insurance as may be necessary to meet and comply fully with all co-insurance requirements contained in said policies to the end
j that the Mortgagor is not a co-insurer thereunder. Insurance may be written by a company or companies approved by the Mortgagee (which
approval shall not be unreasonabl}• withheld) and all policies and renewals shall be held by the Mortgagee unless in the posseuion of a holder of
a Prior Mortgage.,AU detsilod 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 thr cancellation or termination thereof shall be given to otherthan the Mortgagee except a holderof aPrior
'Mortgage or by proper endorsement 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. 1st 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 cyuity, lien, or right under and by virtue of this mortgage, In the event of loss or physical damage to the Property the
!Mortgagor shall gn~e immediate nonce thercot by marl 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 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 agrecmentscontained inthis mortgage, or if the Mortgagor fails to perform anyduty
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 nodemand thercunderand has not threatened anyaction in
runnection with the same), or if an}• action or proceeding is commenced which materially affects the Mortgagee's interests in the Property,
+ncluding but not limited to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent
a bandonmcnt 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 Pnor Mortgage current, may make appearances, may enter upon and secure the Properly, may disburse such other sums (including +
but not limned to the pa}•ment of insurance premiums and taxes). and ma}• take such otheraction as the Mortgagee reasonably deems necessary
,+r ads•isable to protect his interests in the Property, all without regard to the value of the Property. Any amounts disbursed by the Mortgagee T
pursuant to the provisions of this paragraph, together with interest thereon at the rate of eighteen (18~) percent per annum shall become
i additional indebtedness of the Mortgagor secured by this mortgage. Unlrss the Mortgagor and Mortgagee agree in writing to some otherterms
~+f payment, such amounts shall be payable immediately. Nothing in this paragraph shall require the Mortgagee to incuranyexpense, make any
disbursement or take any action whatever. ~
8. All proceeds of any award or claim for damages direct or consequential in conneMion with any condemnation or any other taking by t
eminent domain of the Properly orany part thercot, or forconveyance in lieu of condemnation oreminent domain arc hereby assigned and shall }
be paid to the Mortgagee. lInlcss the Mortgagor and Mortgagee otherwise 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
s or postpone the due daft of installments of principal and interest or change the amounts thereof.
E 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 exercise of such right or remedy. "the procurement of insunnce or the payment of taxes or other liens orcharges or the
payment of sums under a Prior blongage by the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate the maturity of the
indebtedness secured 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 cyuity 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 level) and abstrzct Gusts 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 al) of his covenants set forth in this mortgageand/orthe Noteand/or Prior Mortgage(s)and
the promissory note(s) secured thereby,
I I. -The Mortgagee is a licensed ntortgagr broker under Chapter 494. Florida Statutes. $(j~~ ?.lj~~~
i+t. ~ iii? iPreparcd by Stanley N. Spicler~At}orrie}•, 4700`Bist~yne Boulevard, Miami, Florida 33137