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HomeMy WebLinkAbout1954o~ ~ ~_ ~ i sc~, o c ( R~.^.~ri'~'.1 s (0.3 0 IN P~,.~•~yt ~e T~'XES • , 1_ i_°; ~ 1 C:t ~i 'C' i:'1:.' ." :: c P.. :' i F'~ Er.TY, ''' FG..~.:..NT 70 U~ :~ i_. 7t- .1. L-TS 6F 19J1. `.~:; P~~;~.~ 513485 CLLitK qA6111T COOkT. st. w~ c0. fu.~~~ • ~, 84 ~~~~~2~ O ~ MORTGAGF. madc thc day below set tonh between the Mongagor below named and the Mortgagee, METROPOLITAN MORTGAGE CO., a Florida corpurtatian. W H F R EAS, the Mortgagar is indebted to the Mortgagee as evidenced by a cutain mortgage note (Note) of even date from the Mortgagor ~o Mortgagee as deuribed below. To sccurc to th~ Mortgagee the pcrformance by the Mortgagor of all his agreemcnts set tonh in this Mortgage and the Note, including the rcpaymtn: of the indcbtedness evidcnced by the Notc, interest therco~, sums advanced by the Mortgagee in accordance with the provisions o( this Mortgage to protect the lien and security thereof, and interest thercon, the Mortgagor does hereby morigage. gtant and convey to the Mortgagee the real proputy describcd below tage~her with (a) all eauments, rights, tenements. hercditaments. rents, issues and profits :-ppunenant thcreto; (b- all bwldings, structures and improvemcnts now or hereafter located upon said real property. (c) al! of the following prese~tly attached thereto: pipes, plumbing fixtures and e~uipmenl, electrical conduit and winng and fixtures. heatmg and cooling and air ronditioning equipmcnt and f atures, sprinkling and irngation equipment and fixtures, pumps, fences and awnings; and (d) range, oven and refrigerato~ ~-resently upon the prem~xs; all of the foregoing arc here~n referred to as the "Propeny." To have and to hold the. same unto the ~tortgagee, its successors and assigns in fee simple. The Mortgagor convenants that he is lawfully seized of the estate nereby conve~ed and he has the right to mortgage. grant aad convey the Property, that the Pr~perty is unrncumbered e?ccept as may be below noted. and that the Mortgagor will warrant and de[end the title to the Property against all claims and demands. And the Mortgagor covenants and agrces as follows: 1. To promptly pay v-hen duc the principal of and interest on the indebtedncss e~idenced by the Note and prcpapment and latechargesas provided therein. 2. To pay all taxes, asxssments, chargcs, fines and other impositions of governmental authority against the Property within sixty (60) days uf when due or siaty (60) days prior to the same becoming delinquent, whichever may first occur. 3. If it is notcd below• that this is a sccond or other subordinate ranked mortgage, then to promptly pay when due principal and interest uwing under mortgagc(s) of higher priority (°Prior Mortgage~s)"), to prompUy pay to the holder(s) of Prior Mortgage(s) sums due on account of eaxes and insurance premiums as may be provided for under the provisions ot the Prior Mortgage(s). and to otherwise fully. promptly and completely keep and perform all of the promises and convenants of the mortgagor undcr Prior Morigagt(s)and the promissory note(s) secured thereby; all of the foregoing w•ithaut regard to an~• waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with ~he prior consent ot the Mortgagee. 4_ Not to apply to, request of, receia~e or accept from any holder of any Prior Mortgage any money, funds or things o( value which would, might or could be cons~d~red as an ad~•ance secured by the lien of sueh Prior Mortgage. 5. \ot to commit w~astc or permit or su(fer the impairment or deterioration of the Property; not to erect or permit to bt erected any new buildings on the Propeny oi any structural alterations to existing buildings without the Mortgagee's prior written consenr to comply with all subdivision ratrictions and zonmg and other regulatory laws and ordinances affecting the Property_ If the Property is a condominium unit, the '~tortgagor shall~promptly and completcly perform all of his obligations under the declaration of condomi~ium and the condominium association's articles of incorportation, by-laws and rules and rcgulations and other constituent condominium documents including but not li mitcd to the payment of all regular and spccial asussments, the liens for which against the Property might orcould have priority over the lien of t his mortgage. Ii the Property ~s part of a planned unit developm~nt, the Mortgagor shall prompltycomply with alf provisions of the declantion of covenants and restrictions establishing the same and shall promptly fulfill all his obligations under the constituent documents of the planned unit deveiopment including the homeowners association's or its equivalent's articles and by-laws and shall promptly pay all assessments or charges o( every nature (no matEer how dcsignated) the lien for which against the Property might or could have priority over tht lien of this mortgage_ 6. To keep all the Property insured as may be required from time to time by the Mortgagee against lou by fire, windstorm, hazards. casualties and contingcncies for such periods and for not las than such amuunts as may be reasonably required by the Mortgagee and to pay promptly when d ue all premiums for such insurance. The Mortgagor agrees to deliver renewal or replacement polici~s or eertificates therefor to t hc Mortgagec at least fiftcen (1 S) days prior to the eapiration or anniversary date of the existing policies. The amounts of insurance requircd by the Mortgagee shall be minimum amounts for a~hich said insurantt shall be written and it shall be incumbent upon the MoRgagorto maintain such additional insurance as may be necessar~• to meet and comply fully with all co-insurancc requirementscontained in said policiesto the end ;hat the Mortgagor is not a co-insurer thereunder. Insurance may be written by a company or companies approved by the Mortgage~ (which approval shall not be unrcasonably withheld) and all policies and renrwals shall be held by the Morlgagee unless in the posseuion of a holder of a Prior Mortgage. All detailed dcsignations by the Mortgagor which are acceptcd by the Mortgagce and all agreements between the Mortgagor and Mortgagee relating to insurance, now ex~sung or hereafter made, shall be in writmg and shall be a part of this mortgage agreement as fully as though set forth vcrbaum herein and shall govern both parties hereto. No lien upon any policy of insurance or upon a~y rcfund or return premium which may be payable on the cancellation or termination thereof shali be given to other than the Mortgagee exoept a holderof a Prior !~1 ortgage or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a Standard I~ew York MortEtagce Clause Without Contribution making all loss or losscs under such policy payable to'tt~e Mortgagee as its intcrest may appear. In the cvent an}• sum or sums of money become payable thereunder the Mortgagee shall have the option to receive and apply the same on account of the indebtednes's secured hereby or to permit the Mortgagor to rtceive and use it or any part thercof without waiving or impairing any equity, lien, ur right under and by virtue of this mortgage_ In the event of lou or physical damage to the Propertythe ~lortgagor shall gi~-e ~mmediate noace thereof by mail to the hlortgagee and the Mortgagee may make proof of loss if the same is not promptly made by !he Mortgagor. In the c.•ent of foreclosure of this mortgage or other transfer of title to the Property all right, title and interest of ihe ~lortgagor in and tn the insurance policics shall pass to the purchaser or grantee. 7. I( the Mortgagor fails to perform his covenants and agreements contained in this mortgage, or if the Mortgagor fails to pettorm any duty ~~r obligation arising under a Prior Mortgage ~~ncluding the payment of principal and j ot interat, deposits on account of taxes and insurance premiums and late charges cven though thc holdEr of the Prior Morigage has made nodemand thereunderand has not threatened anyaction in connection w•~th the same), or if any action or procetding is commenced whieh materially affeMS the Mortg2gee's interests in the PropeRy. ~ncluding but not lim~ted to eminent domain or code enforcement or arrangements involving a bankrupt or d~cedent, or if there is an apparent abandonment of the Propcrty, then the Mortgagee at its option may pay to the holder o( a Pnor Mortgage all or parts of the sums necessary to hnng the Pric,r !~lortgage current, ma~~ make appearances, may enter upun and secure the Property, may disburse such other sums (induding hut not lim~ted to the par ment of insurance premiums and taxes), and may take such other action as the Mortgagee reasonably deems necessary ~~r advis:ibM to protect his interests in the Property, all without rcgard to the value of the Property. Any amounts disbursed by the Mortgagee pursuant to thc provisions of this paragraph, togethcr with interest thereon at thc ratc of eightccn ( I8 ~) per cent per annum shall become additional indebtedncss of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agree in writing to some other terms ~~f payment, such amounts si~all be payable immediately. Nothing in this paragraph shall require the Mortgagee to incuranyexpenx, make any disbursement or take any action whatever. 8. All procecds of any awarJ or claim for damages direct or conuquential in connection with any condemnation or any other takmg by eminent domain of the Propert} or any part thereof, or forconveyance in lieu of condemnation oreminent domain are hereby assigned and shall be paid to the Mortgagce. Unlcss thc Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagee shall be applied to the sums secured by this mortgage without imposu~on of any prepayment charge. and (bj the application of proceeds shall not extend or postpone the due datc o( installments of principal and interest or change the amounts thereof. 9. Any fort~earance by the Mortgagee in exercising any right or remedy hercunder or otherwise afforded by applicabk law shall not be a w~aiver of or preclude the exercise of such right or remedy_ The procurement of msurance or the payment of taxes or other liens or charges or the paymcnt of sums under a Prior Mortgagc by the Mortgagee shall not be a waiver of the Mongagee s right to accelerate the maturity of.the ~ndcbtedness securcd by this mor[gagc. All remedics provided in this mongagc arc distinct and cumulative to any other right or remedy under this mortgagc or afforded by law or cquity and may be exercised co~currently, independently or suceessively. 10. To pay all costs charges and e~epenses including attorney's fees (whether or not litigation occuts and,if it do~s then those on appellate as wcll as trial level) and abstract cosa :e~~nr.ably incurred or paid at any time by the Mortgagee because of the failurc on the part of the Mortgagar to perform, comply with and abide by all of his covenants set forth in this mortgage and/or the Noteand/ or Prior Mortgage(s)and thc promissory notNs) secercd tl~ereby. ~~A~ ~^~ I I_ The Mortgagee is a ticcnscd mor:babe broker under Chapter 494, Florida Statutes. 8(~X V P~iE i~vo ki_ 2 su~ ~Preparcd t~y Stanlcy !i. Spielcr. Attorne}, 4700 B~scal~rne BoultVfrd, Miami, f=lorida 33137 ~ ~ ._~ M ...~.~_.,..~