HomeMy WebLinkAbout0067~~D : R• ~ S tN PAIrI~l:~NT OF TAJ~
OUE Oii Ct~tT 'C IHTRI:G:BIE Pf6SC~'~l P.'tOPEATY.
FD:SU6Ni TO (HAPT£~ 71• J, ~~15 Of 1l71.
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GL 4K q' U~T .:J.tT, ST. W.tE CO.. FIA.~
Abstract & Title Corp, of ~lorida
512435 ~. ~ °
MORTGAGE made the day below srt (orth between the Mongagor below named and the Mortgaga, METROPOLITAN MORTGAGE.
CO., a Florida corportatiun.
W NEREAS, the Mongagor is indebted to the Mortgagee as evidenced by a certain mortgage note(Note) otevendate irom the Mongagor
io Mortgagee as described below.
To securc to the Mortgagee the performance by the Mortgagor of all his agrcements set forth in this Mortgage and the Note, including the
rcpayment of the indebtedneu evidenced by the Note, interest thercon, sums advanced by the Mortgagee in accordance with the provisions of
this Mortgage to protect the lien and security thereof, and intercst thercon. the Mongagoi does hereby mortgage, grant and convey to the
Mortgagee the real property described below toge~her with (a) all eauments, rights, tenements, hercditaments. rcnts. iuues and profits
appurtenant thercto; (b) all bwldings, structures and improvements now or hereafte~ located upon said real propeny, (c) all of the foltowing
presently attached thereto: pipes, plumbing fix[ures and e~uipment, electrical conduit and winng and fixtures, heat~ng a~d cooling and a~r
condition~ng equipment and fixtures, sprinkling and irrigation equipme~t and fiztures. pumps. fences and awnings; and (d) range, ove~ and
refrigerator Qrcseotly upon the premises; all of the foregoing are hercin referred to as the "Property." To have and to hold the same unto the
Mortgagee, us successors and assigns in (ee simple.
The MoNgago~ convenants that he is lawfully seized of the estate hereby conveyed and he has the right to mortgage, grant and convey the
Propeny, that the Property is u~encumbered except as may be below noted. and that the Mortgagor will wanant and de(end the title to the
Property against all claims and dcmands.
And the Mortgagor covenants and agrces as follows:
1. To promptly pay when due the principal of and interest on the indebtcdness evidenad by the Note and prepayment and late charges as
provided thercin.
2. To pay all taxes, assessments,charges, fina and other impositions otgovernmental authority against the Propeny within sixty (60) days
of when due or siaty (60) days prior to the same becoming delinquent, whichever may first oecur. .
3. If it is noted b~low that this is a second or other subordinate ranked mortgagc, then to promptly pay when due principal and interest
owing under mortgage(s) ot 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 per(orm all of the promises and convenants of the mortgagor under Prior Mortgage(s) and the promiuory note(s) secured
thereby; all o( the foregoing w•ithout regard to any waivers, extensions or indulgences g~anted by the holder(s) of Pnor Mortgage(s) unless with
thc prior consent of the Mortgagee. _ .
4. Not to apply to, rcquest of, receive or acccpt from any hold~r of any Prior Mortgage any money, funds or things otvalue which would,
m~ght o~ could be considercd as an advancc securcd by the lien of such Prior Mortgage. .
S. Not to commit w~aste or permit or suffer the impairment or deterioration of the Property; not to erect or permit to be erected any new
buildings on the Propcrty or any structural alteralions to existing buildings without the 1~lortgagce's prior written consent• to comply with all
subdivis~on restrictions and zomng and other regulatory laws and ordinances affecting the Property. l(the Property is a condominiumunit. the
tilortgagor shalt,promptl~ and completely perform all of his obligations under the dcclaration of condominium and the condominium
association's articles of incorportation, by-laws and rules and regulations and other constituent condomiaium documents including but not
I~ mited to the payment of all regular and special auessments, the liens for which against the Property might or could have priority over the lien of
this mortgage. If the Propeny is part of a planned unit development, the Mongagor shal! promplty tomply with all provisions of thedeclaration
of covenants and restrictions establishing the same and shall promptly fulfill all his obligations under thtconstituent documentsotthe planned
unit development including the homeowners association's or its equivalent's articles and by-laws and shaU promptly pay aU suessments or
charges of every nature (no matte~ how dcsignated) the lien for which`against the Property might or could have priority over the lien of this
mortgage.
6. To keep all tht Property insured as may be requircd from time to time by the Morigagee against loss by firc, windstorm. hazards.
casualties and contingencies for such periods and for not Icss than such amounts as may be reasonably rcquired by the Mortgagee and to pay
promptly when due all premiums for such insurance. The Mortgagoragrees to deliver renewal or replacement policies or certificates therefor to
chc Mortgagce at least fiReen (1 Sj days prior to the expiration or anniversary da(e of the existing policees. The amounts of insuraqce rcquired by
the Mortgagee shap be minimum amounts for which said insurance shall be written and it shall be incumbent upon the Mortgagorto maintain
such additional insurance as may be necessary to meet and comply fully with all co-insurance requirements contained in said policies to the end
that the Mortgagor is not a co-insurcr thercunder. Insurance may be written by a company or companies approved by the Mortgagee (which
approval shall not be unreasonably withhcld) and all polici~s and renewals shall be held by the Mortgagee unless in the possession of a holdtr of
a Prior Mortgagc. All detailcd dcsignations by the Mongagor which arc accept~d by thc Mortgagce and all agreements between the Mortgagor
and Mongagee rcl~tiqg to ihsu~aace, 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 hercin and shall govern both parties hereto_ No lien upon any policy of insunnce or upon any refund or return
premium which may be payable on the cancellation or termination thereof shall be given to other than the Mortgagee eacept a holder of a Prior
~1 ongagc or by proper endorsement affixcd to such policy and approved by the Mortgagee_ Each policy of insurance shall have affiaed thereto a
Standard Ncw York Mortgag~e Clause Without Coniribution malcing all loss or losses under such policy payablato the Mortgagee as its
intcrest may appear_ ln the event an}~ sum or sums of money become payabk thereunder the Mortgaga shall have the option to reaive and
apply the same on account of the indebtcdness securcd hercby or to permit the Mortgagor to rcceive and use it or any part thercof without
waiving or impairing any cquity, lien, or right under and by virtue of this mortgage. In the evcnt of loss or physical damagt to the Property the
~1 ongagor shall give immcdiate 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. Ir. the event of forcclosure of this mortgage or other transfer of title to the Property all right, titk and interat of the
~lortgagor in and to the insurance policics shall pass to th~ purchaser or grantea
7_ If the tifongagor (ails to perform his covenants and agreements contained in this mortgage. ot if tho Mortgagor fails to perform any duty
or obligation arising under a Prior Mortgage (including the payment of principal and/or interest. deposits on account of taxes and insutance
premiums and latc chargcs even though thc holder of the Prior Mortgage has made nodemand thereunderand has not threatened anyaction in
connection with thc same), or i( any action or proceeding is commenced which materially affects the Mottgagee's intercsts in the Property.
including but not limited to eminent domain or codc enforcement or arrangemenu 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 all or parts of the sums neassary to
br:ng the Prior ~fortgage current, ma}• make appearanca, may enter upon and ucure thc Property, may disburse such other sums (including
hut not limited to the payment of insurance premiums and taxes), and may take such other action as the Mortgagee rcasonablydeems necessary
ur advisable to protect his interests in the Propeny, all without rcgard to the value of the Property. Any amounts disbursed by the Mortgagee
pursuant to the provisions of this paragraph, togethcr with interest thereon at the ratt of e~ghteen (18MO) per c~nt per annum shall become
additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagteagree in writing to some other terms
of payment, such amounts shall be payable immediatcly. Nothing in this paragraph shall require the Mortgagee to incuranyexpenu, make any
~disbursement or take anv action whatever.
8. All proceeds of any award or claim for damages direct or consequ~ntial in connection with any condemnation or any other talung by
eminent domain of the Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain arc hereby ass~gned and shall
be paid to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all procceds received by the Mortgagee shall be
applied to the sums secured by this mortgage w~thout impos~t~on of any prcpayment charge. and (b) the application of proceeds shall not extend
or postpone thc due date of installments of principal and intercst or change the amounts thereof.
9. Any forbearance by the Mortgagee in exercising any right or remedy hecwnder or othenvise afforded hy applicable law shall not be a
waiver of or' prrclude the exercix of such right or rcmedy. The procurcment of msurance or the payment of taxes or other liens or charges or the
payment of sums undcr a Prior Mortgage by the Mongagee shall not be a waiver of the Mortgagce's right to accelerate the ~,aturity ot the
~ndebtedness securcd by this mongage. All remedies pro~hded in this mortgage arc distinct and cumulative to any other right or rcmedy under
this mongage Qr affordcd by law or equity and may be exercised concurrently, independently or sucassively_
10. To pay ail cosu'charges and expenses including attorney's fea (whether or not litigation occurs and if it does then those on appellate as
well u trial Icvel) and abstract cdsts reasonably incurred or paid at any time by the Mortgagee bccause of the failure on the part of the
!~!ortgagar to perform, comply with and abide by all of his covenants set forth in this mortgage and/ or the hote and/ or Prior Mottgage(s) and
the promis~ory note(s) securcd thereby. ~~
11. The Mort~ee is a licenud mortgage bjolc under Chapte~,494, Florida Statutes. rR r,E
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~d b~• Stanley H. Spieler, Attorney, 4700 Bisca~•ne Boulevard, Miami, Flonda 33137
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