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HomeMy WebLinkAbout1465 a 0 A Received • ~=~~-=c~_ in Payment Of Tiuat? ~ . f C • ~ 50457 ? Duo On Clue Irttonplbla P~rtonal proparry. . Purw~ttt To Cfupe~ X1.154, Aqt -9f 1>i71. . ~ O pOGER~Of1RA$ ~jXa • c C~ COiNt, aR Llldw, G01. ~ MORTGAGE made the day below set forth between the Mortgagor below named and the Mortgagee, M ETROPOLITAN MORTGAGE CO., a Florida corportation. WHEREAS, the Mortgagor is indebted to the Mortgages as evidenced by a certain mortgage note (Note) o[even date from the Mortgagor to Mortgages as described below. To secure to the Mortgages 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 Note, interat thereon, sums advanotd by the Mortgagee in accordance with the provisions of this Mortgage to protect the. lien and secunty thereof, and interat 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, iuue and profits appurtenant thereto; (b) all buildings, structure and improvements now or hereafter located upon said real property, (c)all of the following presently attached thereto: pips. plumbing fixtures and equipment, .electrial conduit and wiring and fixtures, heating and cooling and air conditioning equipment and factures. sprinkling and irrigation equipment and fixtures, pumps, fences and awnings; and (d) range. oven and refrigerator presently upon the premises; all of the foregoing arc ercin referred to as the "Property." To have and to hold the same unto the Mortgagee, its successors snd assigns in fa 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 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 interat on the indebtedness evidenced by the Note and prepayment and late charges as provided therein. - - 2. To pay all taxes, assesstnents,charga. fins and other impositions of governmental authority against the Property within sixty (60) days of when due or sixty (fA) 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 interat ' 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 convcnants of the mortgagor under Prior Mortgage(s) and thcpromissory 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 oraccept-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 Gen 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 withal! subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Property. If the Property is a condominium unit, the Mortgagor shaU,promptly and completely perform all o! his obligations under rho declaration of condominium and the condominium association's articles of incorportation, by-laws and rules and regulations and other constituent condominium documents including but not limited to the pa roent 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 of a planned unit development, the Mortgagor shall promptly comply with all provisions of the declaration of covenants and ratrictions 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 equivalent's articles and by-laws and shall promptly pay all assessments or charge of every nature (no matter how designated) the lien for which against the Property might or rnuld have priority over the Gen of this mortgage. 6. To keep all the Property insured as may be required from time to limo by the Mortgagee against loss by fire, windstorm, hazards, casualtie and contingencies for such periods and for not less than such amounts as may be reasonably required by the Mortgages and to pay promptly when due sU ppremiums for such insurance. The Mortgagor agrees to deliver renewal or replacement poGcie or certificate therefor to the Mortgagee at least fdteen (1 S) days prior to the expiration or anniversary date of the existing policie. The amounts of insurance required by the Mortgagee shall be minimum amounts for which said insurance shall be written and it shay be Incumbent upon the Mortgagor to maintain such additional insurance as maybe necessary to meet and comply fully with all co-insurance requirements contained in said policie to the end that the Mortgagor is not a co-insurer thereunder. Insurance may be wntten by a company or companies approved by the Mortgagee (which a pproval shag not be unreasonablyy vgithheld) and all policies and renewals shall be held by the Mortgagee unleu in the possession eta holder of a Prior Mortgage. All detailerd de3~gsatio~ by the Mortgagor which arc 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 I 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 maybe payable on the cancellation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior j hi ortgage or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of iaturance shall have affixed thereto a Standard New York Mortgagee Clause Without Contribution making all loss or losses under sluh policy payable to the Mortgagee as its interat may appear. In the event any sum or sums of money become payable thereunder the Mort~agoc shall have the option to receive and apply the same on aceount of the indebtedness secured hereby or to permit the Mortgagor to receive and use it or any part thereof without I waiving or impairing any equity, lien, or right under and by virtue of this mortgage. In the event of leas or physical damage to the Propertythe 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 forcclosurc of this mortgage or other transfer of title to the Property all right, title and interat of the Mortgagor in and to the insurance policies shat! pass to the purchaser or grants. 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 payment of principal and/or interat, deposits on account of taxes and insurance p rertiums 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), or if any action or procXcding 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 abandonment of the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage aU or parts of the sums necessary to bring the Prior Mortgage current, may make appearance, rosy 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 necesary 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 interat thereon at the rate of sixteen (169f~) per ant per annum shall become additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in writing to some other terms _ of payment, such amounts shall be payable immediately. Nothing in 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 daroaga direct or consec(uential in connexion with any condemnation or any other taking by e mineral domain of the Property or any part thereof. or forconveyance m heu of condemnation or eminent domain are hereby assigned and shall 6 be paid to the Mortgagee. Unless the Mortgagor and Mortgages otherwise agree in writing (a) all proceeds reotivod by the Mortgagee shall be applied to the sums secured b)r this mortgage without imposition of any prepayment charge, and (b) theapplication of proceeds shall not extend or postpone the due date of installments of principal and interat 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 or preclude the exercise of such right or remedy. The procurement olensuranoe or the payment of taxes or other Gene 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 aaxkrate the matunty of the ~ ndebtedness saured by this mortgage. All rcmedie provided in this mortgage arc distinct and cumulative to any other right or remedy under this mortgage or afforded by bw or equity and may be exercised concurrently, independently or sucoessivelx. 10. To pay au charges and expenses including attorney's fees (whether or not litigation occurs and J it dos then those on appellate as r well as trial kwel) aiad abstntct costs reasonably incurred or paid at any time by the Mortgagee baxtue of the tailure on the part of the Mortgagor :o perform, comply with and abide by all of his covenants set torth in t6k mortgage and/ or the Note and/or Prior Mortgage(s) and rho pmm>sisr,? note(s) aaured thereby. aa°~341 P~14~•J 11. The Mortgages is a Gcerisod mortgage broker under Chapter 494, Florida Statutes. i ~ Bt. ) Rev.. s ePrcparcd by Stanley H. Spieler, Attorney, 47th Biscayne Boukvasd, Miami, Florida 33137 z , '