HomeMy WebLinkAbout0173Recewed S~`~ `~U ~n Peyment O~ TaxN
QuF (~n i:id: c..~,•• ~ntanflib!e PerconA~ orope~h~
c,,-~ ,,,. :~ rc: ~'ha;~te~ 7i. t34. Acc9 O~'971,
R~GER PUITRAS ~~
-~P•~ CvCUrt COUtI, St. Luae. Co.. Fls.
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MURTGAGE made the day below ut forth betw~een the Mongagor below named and the Mottaaga. METROPOLITAN MORTGAGE
~'O., a Nlorida corportation.
W H F. R E AS, the Mortgagor is indebted to the Mongagee as evidenced by a certain mortgag¢ note (Note) of evon date trom the Mortgagor
~n Mortgagte as desc~ibed below.
Tc- secure to the Mortgagee the performance b~ the Mortgagor of all his agreements ut tonh in this Mort~age and the fYote, i~cludi~g the
rrpayment of the indebtedness evidenced by the Note, interat thereon, sums advanced by the MoRja~ee in accordance with the provisions o(
~his Mortgage to p~otcct the lien and secunty thereof, and intercst thercon, the Mortgagor doa hercby mortgage, grant and convey to the
`tortgagee the real propeny described belaw toge~her with (a) all easements, rights, tenements. hercdita~nents. rcnts, issues and profits
~ppurtenant thereto; (b- all buildings, st~uctures and ~mprovements now or hereafter located upon uid real propeny, (c) all of the following
prrsently attached thercto: pipes, plumbing fixtura and equipment, electrical conduit and wirin~ and fixtutes. heating and cooling and air
:~~nd~t~on~ng eyuipment and fixtures, sprinklmg and irrigat~on equipment and fixtures. pumps. fenas ar-d awnings; and (d) range, oven and
rrfngerator presently upon the premises; all of the forcgoing arc herem referrcd to as the "Propecty." To have and to hold the same unto the
~1 ortgagce, its successors and assigns in fee simple.
The Mortgagor convenants that he is lawiully seized of thc estate hereby conveyed and he hu the right to mortgage, grant and convey the
f'rc.peny, that the Property is unencumbered except as may be below noted, and that the Mortgagor will warrant and detend the title to the
Property against all claims and demands.
And the Mongagor covenants and agrees as follows:
I. To promptly pay when due the principal of and interest on the indebtedness evidenced by the Note and prepayment and late charges as
nrovided therrin.
2. To pay all taxes, assessments, charges, fines and other impositions of governmental suthority against the Property within sixty (60) days
of w•hen due o~ siaty (60) days prior to the same becoming delinquent, which~ver may first occur.
z. If it ~s noted below that this is a second or other suAordinate ranked mortgage, then to promptly pay when due ptincipal and interest
,~w inK under mortgage(s) of higher priority ("Prior Mortgage~s-"), to promptly pay to the holder(s) of Prior Mortgage(s) sums due on actount of
i~ res and ~nsurancc premiums as may bc provided for under the provisions of the Prior Mortgage(s). and to otherwist fully. promptly and
~~~mpletcl~ keep and per(orm all of the promises and convenants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
~hereby; all of the foregoing v-ithout regard to any waivers, extensions or indulgences granted by the holder(s) of Prior Morigage(s) unkss with
the prior consent of the Mortgagee.
4. \ot to appl~~ to, request of, receive or accept from any holder of any Prior Mortgago any money, funds or things o(value which would,
m~~he or could Me considercd as an advance secured by the lien ot such Prior Mortgage.
5. 1ot to commit w~astr or permit or suftcr the impairment or deteriontion of the Property; not to erect or permit to be erected any new
tiu~idings on the Property or any structural altcrations to existing buildings without the Mortgaget's prior written consent; to comply with all
.u Mi~~ ~s~on restnctions and zomng and other regulatory laws and ordinances affecting the Property. If the Property is a condominium unit, the
~t ~~rtgagor shall, promptl~~ and completel}• per(orm all of his obligations under the declantion of coadominium and the condominium
,,,~ociation's articles of incorportation, by-laws and rulcs and rcgulations and other constituent eondominium doeuments ineluding but not
I~ m~eed to the payment of all rcgular and sp~cial assessments, the liens for which against the Property might orcould have priority over the lien of
; h u mongagc. If the Property is part of a planned unit development. the Mortgagor shall prompltyeomply with all provisions of the declaration
,~t co~•cnants aod restnctions establishing the same and shall promptly fulfill all his obligations under the constituent documents of the planned
un:t de~•clopment including the homeowners association's or iu equrvalent's articles and by-laws and ahaU promptly pay all assessments or
~ harges of ever}•. nature (no matter how designated) the lien for which against the Property might or could have priority over the lien of this
m urtgage.
6. To kccp all the Propeny insurcd as may be rcquired from time to time by the Mortaaga against loss by fire, windstorm, hazards,
: asualties and contingeneia (or such periods and for not less than such amounts as may be reasonably roquirod by the Mortgagee and to pay
promptl~•whendueall premiumsforsuchinsurance.TheMortgagoragreestodeliverrenewalorrcplaamentpoliciesorcertificattsthereforto
e he ~lortgagce at Icut fifteen (1 S) days prior to thc expiration or anniversary date of ihe exitting policia. Tbe amounts of insurance required by
~ he titortgagee shall bc minimum amounts (or which said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain
~uch additional insurance as may be necessary to meet and comply fully with all co-insurance requirementstontaiaed in said poGcies to the end
e har the !1lortgagor is not a co-insurcr thereunder. Insurance may be written by a company or compania approved by the Mortgagee (which
e pproval shall not be unreasonably withheld) and all policies and renewals shall be held by the Mortgagee unlas in the posseuion of a holder of
~ Pr~or tilortgage. All ~etailed designations by the titortgagor which are accepted by the Mortgagce and all agraments between the Mortgagor
~ nd !Nortgagce rclatin to insurance, now existing or hereafter made, sha11 be in writ~ng and shall be apart oithis mortgage agreement as fullp as
thuugh set forth verbatim hercin and shall gorern both parties hercto. No lien upon any poliey of insutauoe or upon any rcfund or rcturn
~ r~mium ahich ma~• be payable on the cancellation or termination thereo( shall be given to other than the Mortgagee extept a holder of a Prior
~t nrtgage or b}• proper endorsement atfixed to such policy and approved by the Mortgagee. Each poGcy of insurana shall have affixed thereto a
Scandard 1ew• York Mortgagee Clause VVithout Contribution making all loss or loues under sueh policy payable to the Mortgagee as its
intcrest ma~• appear. In the event any sum or sums of money become payabk thercunder the Mort~agee sba116ave t6e option to receive and
apph~ the same on account of the indebtedness securcd hereby or to permit the Mortgagor to reoave atd use it or any part thercof without
a;~~~~ing or impairing any equity, lien, or right under and by vittue of this mortgage. !n the event of tou or phytial dataage to the Property the
~1 ~,rt~agor shall girc immed~ate notice thcreof by mail to the Mortgagee and the Mortgagee may make proof of loss if the ume is not promptly
r*:~de b~~ ~he Mortgagor. In the event of foreclosure of this mortgage or other transfer of titk to the Propeny aU right, titk and interat of the
~7~~ngagor ~n and to the ~nsurance policies shall pass to the purchaser or grantee.
'. If t he ~lortgagor fails to perform his covenants and agreements contained in this mortgage, or if the Morigagor fails to perform any duty
~r ~.~hligaaon ans~ng under a Prior Mortgage lincluding the payment of principai andior intercst. depo:iu on account of taaes and insurance
~ rrm~ums and late charges even though thc holder of the Prior Mortgage has made nodemand thereunderand has not thrptened any action in
:~~nnecuon w•ith thc same-, or if any action or proceeding is commenced which materially af(ects the Mortga~ee's interests in the Propert}•.
n: iuding but not I~mited to eminent domain or code entorcement or arrangements involving a banlcrupt or detedent, or if there is an apparent
s handonment o( the Property, thcn thc Mongagce at its option may pay to the holder of a Prior Motigage all ot parts o(the sums necessary to
~r ~n~ the Nri~:r \longage current, may make appearanca, may enter upon and secure the Propeny, may disburse such other sums (~ncluding
h:~~ n~~t lim~ted to the payment of insurance premiums and taxes-, and may take such otheraction as the Mortgagte reasonably deems necessar}•
r.,dti,lable u~ prutect his interests in the Property, all without regard to the value of the Property. Any amounu disbursed by the Mortgagee
r ur~uant to the pro~•isions of this paragraph, togethcr w~th interest thercon at the rate of eighteen { 18$) per cent per anoum shall becomc
+.lditional ~ndebtedness of the Mortgagor securcd by this mortgage. llnless the Mortgagor and Mortgagee agree in writing tosome other terms
,r ~~•ment. such amounts shall be payable immcdiately. ':~othing in this paragraph shall require the Mortgagee to incur anyexpense, make any~
i:,bursement or take any action whatever.
K. All proceeds of any award or claim for damages direct or consequential in connection with any eondemnation or any other taking by
r mi nent domain of the Property or any part thereof, or for conveyance in lieu of condemnation ot eminent domain arc hereby usigned and shall
'~r pa~d to thc tifortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) aU procceds received by the Mortgagee shall be
~~pl~cd to thc sums sc~cured by this mongage without imposition of any prepayment charge. and (b) the application o( proceeds shall not extend
~r postpone thc due date oi installments of principal and interest or change the amounts thereof.
9. Any forbearance by the Mortgagee ~n eaercising any nght or rcmedy hereunder or otherwise a(forded by applicable law shall not be a
w a-~•er of or preclude the exercise of such right or rcmedy. The procurcment of insunnce or the payment of taxes or other liens or charges or the
;.a~~ment of sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate the maturity o( the
~ ndebtedncss secured by this mortgage. All remedies provided in this mortgage are distinet and cumulative to any other right or remedy under
chis mortgage or affordcd by law or equity and riay be exercised concurrcntly. indepeodently or sucoeuively.
!0. To pay all costs charges and expenses including attorney's fees (whether or not titigatioa occurs and if it does then those on appellate as
wcll as trial le~~el) and abstract costs reasonably inc~~rred or paid at any time by the Mortgagee because ot the failure on the pan of the
ti1 ortgagor to pcrform, comply with and abide by YI! of ;-ir covenants set (orth in this mortgage and/ or the Kote and/ or Prior Mortgage(s) and
the promissory note(s) secured thercby.
I I. Thc 1~tongagee is a licensed mortgage broker under Chapter 494, Florida Statutes. '('iR 34~ ~,,~E ~~~
BO'JK
~~ ~. M~ •s ;~,oPrepared by Stanle~• H. Spieler, Attorne}•, 4700 B~scayne Boulevard, Miami, Flonda 33137
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