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RTP~NEt1 f Ig.~SD IN PAY~~lEKi OF TAXEi
t..- ~•~ ~; ~-; •C~ 1;1~: "C dLE PtGSONAI PROPEQTY.
1 u...:. :~~ Tu .i, i T_a 71-~=~. AGit OF 1~11. ,~,,0
6„4:A Pi,i{RAS
Cl. i.K U :~Uii COtlAi. ~i. W~ ~ ~ ~ ~ .
MORTGAf E made the day below set forth bctwccn the Mortgagor be-ow named and the Mortgagee, METROPOI.ITAN MORTGAGE
CO., a Florida corportati~~n.
W HERE AS, the Mortgagor is indebted to the Mortgagee as evidenced by a certain mortgage note(Note) of evendate from the Mortgago~
to Mortgagte as deuribrd below.
To secure ta the Mortgagre the pertormance by the Mongago~ o[ all his agreements set torth in this Mongage and the Note. including the
reQayment of the indebtedness evidenced by the Note, interest thercon, sums advanced by the Mortgagee in accordance with the provisions of
thu Mo~tgege to protect the teen and security thercof. and interest therebn. the Mongagor does hereby mortgage. graot and convey to the
Mortgagee the real property drscribed below togc~her with (a) ali eaxmeats. ~ights, tenements. hereditaments, tents. issua and profits
appurtenant thereto: (b) all bu~ldings, structurcs and improvements now or hereafter located upon said real property. (c) all of the following
presently attached thereto: pipes, piumbing fixtures and e~uipmcnt, ofectricat conduit and winng and ixtures. heatmg and cooling and sir
condition~ng eyuipment and fixtures, sprinkling and irngat~on equipment and fixtures, pumps, fer~ces and awnings; aad (d) range, oven and
rctrigerato~ presently upon the premises; all o! the foregoing arc herem referrcd to as the "Property." To have a~d to hold the ume unto the
Mortgagte, ~ts successors and ass~g~s ~n tee simple.
The Mongagor convenants that he is lawfull}• sei:ed of the estate hereby conveyed and he has the right to mortgage, grant and convey the
Property, that thz Property is unencumbered except as may be below noted, and that the Mortgagor w~ll warrant and defend the title to the
Prop~ny agaimt all cla~ms and demands.
And the Mortgagor covenants and agrees as follows:
1. To promptly pay when due th~ principal of and interest on the indebtednoss evidenced by the Note and prepayment and Iate charges as
provided therein.
2. To pay all taacs, asxssments, charges, fines and other impositions of governmental authority against the Property within sixty (60) days
of whcn due or sixty (60) days prior to the same becoming de{inquent, whichever may first occur.
3. If it is noted below that this is a second or othec subordinate ranked mortgage, then to promptly pay when dut prineipal and interat
owing under mortgagefs) of highe~ priority ("Prior Mortgagqs)"), to promptly pay to the holder(s) of Pnor Mortgage(s) sums due on account of
taxrs and insurance ptemiums as may be providtd for under the provisions of the Prior 1-lortgagt(s), and to otherwise fully, promptly and
completcly keep and pcriorm all of the promises and convenants ot the mortgagor under Prior Mortgage(s) and the promiuory nott(s) secured
thcreby; all of the foregoing w•ithout regard to any w~aivers, extensions or indulgenccs grantcd by the holder(s) of Pnor Mortgage(s) unltss with
the priot consrnt o( the tilortgagee.
4_ not to apply to, reyuest ot, recei~e or accept from any holder of any Prior Mortgage any money, funds or things of value which wouW.
might or could be considered as an ad~~ance secured by the lien of such Prior Mortgage_
S. Not to commit waste ar permh or suf(er thr impairment or deterioration of the Property; not to erect or permit to be erected any new
buildings an the Propcrty or any structural a!terations lo cxisting buildings without thc :~tortgagee's prior writttn consent; to comply vnth all
subdivision restrictions and con~ng and other rcgulatory laws and ordinances aftectingthe Property. Ifthe PropeRyisacondominiumunit.tfie
1Nortgagor shall, promptly and completely pertorm all ot his obligations under the declarat~on of condomimum aad the tondominium
auce~ation s articles of sncorportation, by-laws and rula and regulat~ons and othcr constituent condominium documents including but not
limited to thc paymcnt of all regularand spccial asussments. the liens for which against the ProQerty might or could have priority over the litn of
this mortgage. lt the Propcny is part of a planned unit devclopment, the Mongagor shall promplty comply with all provis~ons of the declaration
of covenants and restricaons cstabiishing the same and shall promptly fulfill afl his obligations under the constituent dceuments of ihe planned
unit development including the homeowners association's or ~ts equrvalent's articles and by-laws and shall promptly pay atl asseasments or
charges oi every nature ~no matter how dcsignated) thc licn for which against the Propeny m~ght or could have priority over the lien of this
mortgag~.
6. To keep all th~ Propeny insured as may bc rcquircd from time to time by the Mortgagee against loss by fire. winastotm, hazards,
casualties and contingencics (or such periods and for not Icss than such amounu as may be reasonably required by the Mortgagee and to pay
promptly when duc all prem~ums for sucfi insurance_ Thc Mortgagoragrces to deliver renewal or replacement polic~es or ttrtificates therefor to
the Mortgagee at least fiReen ( I S) days prior to the expiration or anniversary date of the existing policits. The amounts of insunnce required by
the Mortgagec shall be minimum amounts for which said insurance shall be written and it shall be incumbent upon the Morigagorto maintain
such additional insurance as may be ncccssary to meet and compfy fully with a11 co-insurance requircments contained in said po{icies to the end
that the Mortgagor is not a co-insurer thereunder. Insurance may be written by a company or companies app~oved by the Mortgagee (whicfi
approval shall not be unrcasonably withheld) and all pulicies and rencwals shall be hcld by the Mortgagee unless in the possession of a holder of
a Pnor Mortgage. All detailed designations by the Mortgagor which are accept~d by thc Mongaga and a11 agrtements between the Mongagor
and Mortgagce relating to insurance, now ex~sting or hereafter made, shall be in writmg and shall be a part of this mortg,age agceement as tully as
though xt tonh verbatim hcrcin and shall go~ern both parties hereto. No lien upon any policy of mauranee or upon any rcfund or return
premium which may,pc pa~abk on the cancellation or termination therco( sha{l be g~ven to other than the Mortgagee except a holder of a Prior
Mortgage or by proper endorscment affixed to such policy and approved by the Mortgagee. Each Policy of insunnct shall have affixed thereto a
Standard l`ew York Mortgagcc Clause Without Contnbution making all loss or losses under such policy payable to the Mortgagee as its
intercst may appear. In the event an~• sum or sums of money become payabk thercunder the Mort~agee shall have the option to rcaive and
apply the samc on account of the indebtedness ucurcd hereby or to perm~t the Mo~tgagor to rcce~ve and use it or any part thereof without
wa~v~ng or impairing any equity, lien, or right under and by virtue of this mortgage. In the event of loss or physical damage to the Property the
!~lortgagor shall give ~mmed~ate noticc thereof by mail to the Mortgagee and the Mortgagee may make proof of lossif the same is not promptly
made by the Mortgagor. In the event of torcclasure of this mortgage or other tnnsfer of titk to the Property all right, title and interest of the
Mortgagor +n and to ~he tinswance poficies shaN pass to the purchaxr or grantee.
7. If the 111ortgagor (ails to periorm hisco~•enants and agrcements contained in this mongage, or if the Mortgagor fails to perform any duty
or obligation ansing under a Prior Mortgage (including the payment of principal and/ or interest, deposits on accou~t of taxes and insuraoce
prem~ums and tate chargcs cven though the holder oi the Prior Mortgage has made nodemand thereunderand has not threatened anyaction in
connection veith the same-, or if any action or Qroceeding is commenced which materiaflp aficMs the Mortgagee's interests in the Propeny.
including but not limited to eminent domain or code enforc~ment or arrangements involving a bankrupt or decedent. or if there is an apparent
abandonment of the Propeny. then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessary to
hnng the Prior `1~~rtgage current, may make appearances, may tnter upbn and secure the Property, may disburse such other sums (induding
but not limited to the pa~~rnent of insurance prem~ums and taxes), and may take such other action as the Mortgagte reasonably deems necessary
nr advisablc lo protect his intcrcsts in thc Property, all without regard to tht value of the Property. Any amounts disburud by the Mortgagee
pursuant to the provisions of this parag~aph, togcther with intcrest thcreon at the rate of e~ghteen (I8~'~) per cent per annum shall become
additional indcbtedncss of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in wntmg to some other terms
~~i payment, such amounts shali bc payable immediately. Nothing in this paragraph shall requirc the Mortgagee to incuranyexpense, makt any
disbursement or take any action whatever.
8_ All procceds of any award or claim for damages direct or consequential in connection with any condemnation or any other tak-ng by
eminent domain of the Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and shall
bc paid to the Mortgagee. Unless the Mortgagor and Mortgagce otherwise agree in writing (a) all proceeds received by the Mortgaget shall be
applied to thc sums secured by this mortgage without imposuion of any prepayment charge. and (b) the application of proceeds shall not extend
or postpon~ the due date of installments o( principal and intettst or change the amounts thereof.
4. Any losbearance by the Mortgagee in exercising any right or remedy hercunder or otherwise aftorded by applicable law shall not be a
waiver of or preclude the eaercise of such right or remedy. The procurement o(insurance or the payment of taxes or otfier liens or charges or the
payment ot sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate the matunty of the
indebtedncss securcd by this mortgage. Al! remcdies prov~ded in this mortgage arc distinct and cumulative to any other right or remedy under
this mortgage or afforded by law or equity and msy b~ 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 dots then those on appellate as
well as tria{ Itvep and abstract costs reasonably incurrcd or paid at any time by the btortgagee because of the failurt on the part of the
Mongagor to perform, comply with and abide b~• a11 of' Ih~s covei-ants set forth in this mortgage and/ or the lv ote and J ot Prior Mortgagqs) and
the promiuory note(s) xcured thereby. {~R~~~ !'~~
11. Tht Mortgagce is a licensed mortgagc broker unde: Cbapter 494, Florida Statutes. si)`~j( ~ Pa~t ~
HI 2 ~u- iPrepaced b~~ Stanlc} li. Sp~clcr, Attorney,,47W,Bjitayne Bou~vSrd, Miam~, i~iorida 33137
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