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MCIRTGAt;E made the day Ariow set iorth hetween the Mortgagor below namcd and the Mortgagee, M ETROPOI.ITAN MOR7GAGE
CO., a Florida corportation.
W N E R EAS, the Mortgagor is indebtrd to the Mortgagce as evidenced by a certain mortgage note (Note) oteven date from the Moctgago~
to Mortgagce as descrit-cd below.
To securc to the l~lortgagee the performance by the Mongagor oi al1 his agrccments set forth in this Mortgage and the Note, including the
repaymcnt of the indebtcdness evidenced by the Vote, intercst thereon, sums ad~•ancrd by the Mortgagee io accordance with the provisioas o[
this Mortgage to protect the lien and secunty thereof, and interest thereon, the Mortgagor does hereby mortgage. grant and convey to the
htongagee thc rral property drscribed bclovr togethe~ with ~a) all easements, rights, tcncments, htreditaments. re~ts. issues and profits
appurtenant thrreto; (b) all bu~id~ngs, structures anJ impr~vements now or hereafter located upon said teal property. (c) all of the following
presently attached thcreto: pipes, plumbing fixtures and equipment, elcctrical conduit and winng and fixtura, heat~ng and cooling and a~r
conditioning eyuipment and fixtu~es, sp~i~klirtg and irrigat~on equipment and fixtures, pumps, kncts and awnings; and (d) range. oven and
refrigerator presently upon the premises; all of the foregoing are here~n refcrrcd to as tht "Property." To have and to hold the same unto the
Mottgagee, its successors and assigns in fce simple.
The I-lortgagur convenants tfiat he is {awfull~ sei~ed af the estate ht~eby conveyed and he has the right to mortgage, grant and convey the
Propeny, that the P~ope~ty is unencumbered except as may be below noted, and that the Mortgagor will wa~rant and delend the titk to the
Property against all claims and demands.
And thr Mortgagor co~•enants anJ agrees as (ollows:
1. To prompt{}• pa~ when due the princ~pal of and interest on the indebtedness e~~idenced by the Note and prcpayment and late charges as
provided therein.
2. To pay all taxes, assessmcnts, chargcs, fines and other impositions of gover~mental authority against the Property within sixty (60) days
of when due or sixty (60) days prior to the same becoming delinquent, whichever may fint occur.
3_ lf it is notcd belov- that tfiis is a sccond or otficr subordinate ranked mortgage, then to promptly pay when due principal and interest
uwing under mortgagcls) of higher priorit}• ~"Prior Mortgage(s)"), to promptly pay to the holder(s) of Pno~ Moctgage(s) sumsdue on account o(
taxcs and insurance prcm~ums as may be provided for undcr the provisions of the Prior Mortgage(s), and to otherw~se fully, promptly and
comptetety kecp and ~-ertorm aN of the prom~us and convenants of thc mortgagor under Prior Mortgage(s) and the promissory note(s) securcd
thereby; all of the foregoing w•ithout rcgard to any waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prior canscnt of tht Mortgagee.
4. \ot to appl~~ to. reyuest of, receive or accept f~om any holder ot any Prior Mortgage any money, funds or things of value which would,
might or could br considerrd as an ad~•ance securcd by the (ien o( such Prior Mortgage.
S. :~'ot to commit M~astc ar permit or suffer the impairment or detcrioration of the Property; not to ercct or petmit to be erected any new
buildings on the 1'ropcrty oi any structural altcrations to existing buildings without the ~tortgagee's prior written consent• to comply w~th all
subdivision restrictions a~d xonis+g and other segulatory law~s and ordinances affecting thc Property. lf the Property is a condominium unit, the
~tongagor shall,promptl~~ and completely perform all of his obligations under the declarat~on of condomm~um and the condominium
association s articles oi mcorportation, by-lav-~s and rules and regulations and other constituent condominium documents including but not
li mited to the payment of all regutar and special asscssments, the tiens !or which against the Property might or could havt priority over the lien of
this mortgage. If the Property is part of a planned unit development, the Mottgagor shall prompltycomply with all provisions otthe dtclaration
of covtnants and restrictions establishing thc samc and shall promptly tulfill all his obligat~ons under the constituent documents of tht planned
unit development including the homeowners association s or ~ts equtvalent's articles and by-laws and shall prompt{y pay a11 assessments or
chargcs of e~•cry naturc (no matter how designated) the lien tor which against the Property m~ght or could have pnority over the lien of this
mortgagt.
6. To keep all the Property insurcd as may be required from time to timt by tfie Mortgagee against tou by fire, windstorm, hazards,
casualties and contingencies for such periods and for not iess than such amounts as may be reasonably rcquired by the Mortgagee and to pay
promptly when duc all premiums for such insurance. The ,~tortgagor agrces to deliver rcnewal or replacement policies oreertifieates therefor to
the Mortgagee at least fifteen ( l S) days prior to the expiration or anniversary date of the existing polic~es. Tfit amounts of insurance required by
the Mortgagce shall be minimum amounts tor ahich sa~d insurance shall be writtcn and it shall be incumbent upon the Mortgagor to maintain
such additionai insurance as may be ncccssary to meet and comply fully with all co-insurance requirements conta~ned in said policies to the end
that the Mortgagor is not a co-insurer thereunder. Insurance may be written by a company or companies apptovtd by ihe Mortgagee (which
approval shall not be unreasonably withheld) and all policics and renewals shall be held by thc Mortgagee unless in the pouession of a holder of
a Prior Mortgage. All detailed des~gnations by the Mortgagor which are accepted by the Mortgagee and all agreements between the Mortgagor
and Mortgagce relating to insurance, now exist~ng or hereafter made, shall be in writ~ngand shal! !x a part of this mortgage agteement as fuf{y as
though set fonh verbatim herein and shall gorern both parties hereto. A`o lien upon any policy of insurance or upon any rcfund or return
premium which may bc payable on the canceltation or term~nation thercof shall be g~ven to other than the Mortgageeexcept a holderof a Prior
1~lortgage or b~ proper endorsement affixed to such palicy and approvcd by the Mortgagee. Each policy o[insurance shall fiave a~xed thereto a
Standard \cw• York Mongagee Clause W~thout Contnbution making all loss or losxs under such policy payable to the Mortgaga as its
+nterest may appear. In the event any sum or sums of money become payable thtrcunder the MortgaR:c shall have the option to rcaive and
apply thc same on account of the indebtedness secured hereby or to permit tht Mortgagor to cectiv~c and use it or any part theteof without
Ka~vmg or impairing any equity, lien, ar right under and by virtue of this mortgage. In tht event of loss or physical damage to the Property the
titortgagor sha4! give smmediate not~ce thereof by mail to thc Mortgaga and the Mortgagee may make proo(otioss itthe same is not promptly
made bp the ;1lortgagor_ In the e~~ent of (orcclosure of this mortgage or other transter of titk to tht Property all right. title and ieterest of the
~lortgagor in and to the insurance policics shall pass to the purchascr or g~antte.
7. If the htortgagor iails to perform his co~•cnants and agreements containcd in this mortgagt, or if the Mottgagor fails to perform any duty
~~r obligation arising under a Prior titortgage (including the payment o[ princ'spal and; or interest, deposits on account of taxes and insuranet
prem~dms and late charges evcn though the holder of the P~ior Mortgage has made no demand thereunderand has not threatened any action in
connccuon w~th tfie same), or it 3ny action or proceeding is commenced which materially a(fects the Mortgagee's interests in the Property.
~nclud~ng but not limited to eminent domain or code enforcement or a~~angements invotving a bankrupt or decedent, or if ther~ is an apparent
abandonment of the Property, then thr Mortgagee at its option may pay to tht holder of a Prior Mongage all or parts of the sums necessary to
hnng the Prior Mortgage current, ma~• make apprarances, mav enter upon and xcure the Property, may disburu such other sums (including
hut not limited to the pay~ment of insurar~ce premiums and tazes). and may take such other action as the Morigagee r~asonabl~ deems necessary
~~r ad~~~sable to protect his interests in the Property, all without regard to the value of the Property. Any amounts disbursed by the Mortgagee
pursuant to tht prn~isions of this paragraph, together with interest thereon at the rzte ot e~ghteen (18~) per cent per annum shall become
:+dditional indebtedness of the Mortgagor secured bv this mongage. l!nless the htortgagor and Mortgagce agree in wnt~ngto some otfier terms
u( payment, such amounts shall be pay:+ble immedi•rtely. \'othing in this p~ragraph shall rcquire the Mortgagee to incurany expense, make any
d~sb~rsement or take any action whatever.
8. All proceeds of any award or claim [or damagcs direct or consequential in connection with any condemnation or any other tak~ng by
eminent domain of the Property orany part thercof, or for conveyance in lieu of condemnation oreminent domain are hereby ass~gned and sha11
be paid to the Mortgagee. l3nies~ the Mortgagor and Mo~tgagce otherwise agrte in writing (a) all proct~ds received by the Mortgagee shall be
applied to the sums secured by this mortgage w~thout imposition of any pnpayment charge, and (b) the application of proaeds shall not tatend
or postpone the duc dat¢ of installmcnts of principal and interest or change the amounts thereof.
9. Any forbearance by the Mortgagce in ezercising any right or remedy hereunder or otherwise afforded by applicabk law shall not be a
w•aiver of or precltsde the exercise of such right or remedy. The prceurement of insurana or the payment of taxes or other liens or charges or the
payment of sums under a Prior Mortgagc by thc Mortgagee shall not be a waiver of the Mortgaga's right to accelerate the maturity oi thc
~ndebtedness securcd by this mortgage. All remedies providcd in this mortgage are distinct and cumulative to any other right or remedy under
this mortgage or atf~rded by (aw or equ+ty and may be exerciud concurrently. independently or succe3sivety.
10. To pay all costs : harges and expenus including attorney's fees (whether or not litigation oecurs and if yt does then those on appel{ate as
wcll as trial level) and abstract costs rcasonably incurred or paid at any time by the Mortgagee because of the (ailure on the part of the
Mongagor to pcrform, comply with and abide by afl of his covenants set forth in this mortgage and/ or the Note and/ or Prior Moctgage(s) and
the promicsory note(s~ sccured thereby. • n~345 ~~
I I. The Nortgagee is a licenscd mongagc broker under Chaptcr 494, Florida Statutes. gfl ~K P1~Gt
H~ z w~ '~ Prepared b~• S~anlc~• H. Spic~ler. Attorney, 4700 Biscayne Boulevard, Miami, Florida 33137
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