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Ru6:l P:I1nAS
CLERK qAC11:T C09iiT. tT. Wr1E CQ. FM.~-.~~ b~ IS
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MORTGAGE made the day brlow set forth betwe~n the Mortgagor bclow named and the Mortgagee, MFTROPOLlTAN MORTGAGE
CO.. a Florida corportation.
W HEREAS, the Mortgagor is i~debted to the Mongagee as evidenred by a certain mortgage note (Note) oteven date from the Mortgagor
to Mortgagee as described below•.
To secure to the Mortgagce the performance by~ the Mortgagor of all his agrecments set fonh in this Mortgage and the Note, i~cludingthe
repayment of the i~debt~dness ~~•idencrd 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 Mongagor does hereby mortgage. grant and convey to tht
Mortgagee the real property described belov- toge~her with (a) all easements, rights, tenements. hereditaments. rents. issues and profits
appurtenant thereto; (b) all bu~idings, structures and ~mprovoments now or hereafter locatcd upon said real property, (c) all of the following
presentiy attached thereto: pipes, plumbing fixtures and e4uipment; electrical conduit and winng and fxtures. heating and cooling and a~r
conditioning equipment and fiatures, sprinkling and irngat~on equipment a~nd fixtures, pumps, fences and awnings; a~d (d) range. oven a~d
refrigerator presently upon the premises; atl of the foregoing arc here~n referrcd to as the "Property." To have and to hold the same unto the
tilortgagee, its successors and assigns in fee simpk.
The Mortgagor convenants that hc is law~fully seized of the estate hereby conveyed and he has the right to mortgage, grant and convey the
Property, that the Property is unencumbered except as may be bdow noted, and that the Mortgagor wiU warrant and dekrtd the title to the
Property against all claims and demands.
And the Mortgagor co~~enantS and agrces as follows: ~
I. To promptly pay when due the principal of and interest on tht indebtedncss e~hd~nced by the Note and prepayment and late charges as
provided thercin.
2. To pay all taxes, assessments, charges, fines and other impositions of governmental authority against the Property within sixty (60) days
of when due or sixty (60) days prior to thc same becoming delinquent, whichever may first occur.
1: If it is notcd bclovr that this is a sccond or other subordinate ranked mortgage, then to promptly pay when due principal and interest
owing under mortgage~s) of 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 (or under the provisions o[ the Prior Mortgage(s), and to otherwiu fully. promptly and
completely keep and pertorm all of the promises and convenants of the mortgagor under Prior Mongage(a) and the promissory note(s) secured
thereby; all of the foregoing without regard to any waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prior consent oi the Mortgagee.
4_ \ot to apply to, request of, rccei~~e or accept from any holder ot any Prior Mortgage any money, funds or things of value which would,
m~ght or could be considered as an adti•ance sccured 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 an}- structural alterations to ezisting buildings without the Mortgagee's prior written consent• to comply with aU
subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Property. l[the Property isa condominium unit, the
~tongagor shall~promptly and completely perform all of his obligations under the d~claration of condominium and the condominium
association's articles of incorportation, by-laws and Tules and rcgulations and other constituent condominium documonts including but not
l~mited to the paymcnt of all rcgular and special assessments, th~ liens for which against the Property might or could have priority over the lien of
chis mortgage. If the Propeny ~s part of a planned unit development, the Mortgagor shall prompltycomply with all provisions of the declaration
of covenants and restrict~ons establishing the same and shall promptly fulfill all his obligations under the constituent documents of the plaaned
unit development including the homeowners association's or its equrvalent's articles and by-laws and shall promptly pay all assessments or
charges ot every nature (no matter how designated) the lien for which against the Propertv might or could have priority over the lien of this
mortgage.
6. To keep all the Property insured as may be requircd from time to time by the Mortgagee against lou by fire, windstorm. hazards.
casualties and contingencia for such periods and for not less than such amounts as may be reasonably requircd by the Mortgagee and to pay
promptly when duc all premiums for such insurance. The Mortgagor agrees to deliver rencwal or replacement policies or ctrtificata thercfo~ to
the Mortgagee at least fifteen (1 S) days prior to the cxpiration or anniversary date of the existing poiicies. The amounts of insurance required by
the Mongagce shall 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-insurer thereunder. Insurance may be written by a company or compania approved by the Mortgagee (which
approval shall not be unreasonably withheld) and all policies and rcnewals shall be hcld by the Mortgagee unleu in the possession of a holder of
a Prior Mortgage. All detailed designations by the Mortgagor which are accepted by the Mortgagec and all agteements between the Mortgagor
and Mortgagee rclating to insurance. now existing or hereaRer made. shatl be in writmg and shall bc a part of this mortgage agreement as fully as
though set forth verbatim hcrcin and shall go~•ern both parties hercto. No lien upon any policy of insurance or upon any refund or return
prem~um which may be payable on the cancellation or termination thereof shall be given to other than the Mortgagee except a holder of a Prior
titortgage or by proper endorsement affixed to such policy and approved by the Mortgagee. Each policy of insurance shall have affiaed thereto a
Standard New York Mortgagee Clauu Without Contnbution making all loss or losxs under such policy payable to the Mortgagee as its
interest may appear. !n the event any sum or sums of money become payabk thereunder the Mortgagee shall fuve the option to reoeive and
apply the same on account of the indcbtednas secured hereby or to permit the Mortgagor to reoe~ve and use it or any part thereof without
wa~ving or impairing any equity, lien, or right under and by viRUe of this mortgage. ln the evcnt of loss or physical damage to the Property the
~1 ortgagor shall give immediate ootice thereof by ma~l to the Mortgagee and th~ Mortgagee may make proof of loss if the same is not promptly
madc by the Mortgagor. ln the event of foreclosure of this mortgage or other transfer of titk to the Property all right, title and interest ot the
~lortgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. I( the Mortgagor fails to perform his co~•enants and agreements cuntained in this mortgage, or if the 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 insurance
premiums and latc charges even though the holder of the Prior Mortgage has made no demand thereunderand has not threatened any action in
connection with the same-, or if anv action or procccding is commenced which materially affects the Mortgagee's interests in the Propcrty.
including but not limited to eminent domain or codc cnforcement or arrangements involving a bankrupt or decedent, or if there isan apparent
a bandonment o( the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts otthe sums netessary to
hring the Prior `lortgage current, may make appearances, may enter upon and xcure the Property, may disburse such other sums (including
hut not limued to the pa} ment of insurance premiums and taxes), and may take such other action as the Mortgagce reasonably deems necessary
or ad~~isable to protect his interests in the Property, all w7thout regard to the value of the Property. Any amounts disbursed by the Mortgagee
pursuant to ~he Pro~isions of this paragraph, together with interest thcreon at the rate of eighteen (18%) p~r cent per annum shall become
additional indebtedness of the Mortgagor secured bythis mongage. Unless the Mortgagor and Mortgagceagree in writing to someother terms
c~f payment, such amounts shall be payable immediately. Nothing in this paragraph shall requirc the Mortgagce to incuranyexpenx, make anp
disbursement or take any action w•hate~~er.
8. All proceeds of any award or claim for damages direct or conuqucntial in connection with any condemnation or any other tak~ng by
eminent domam of the Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain arc hereby assigned and shall
bc paid to the Mortgagee. Unless the Mortgagor and Rtortgagee otherwise agree in writing (a) all procecds received by the Mortgagee shall be
applicd to thc sams secured by this mortgagc without impos~t~on of any prepayment charge. and (b) the application of proceeds shall not extend
or postpone the due date of installments of principal and intercst or change the amounts thercof.
9. Any forbcarance by the Mortgagec in eacrcising any right or remedy hercunder or otherwise afforded by applicable law shall not be a
waiver of or preclude the exercise of ;uch right or remedy. The procurement of insurance or the payment of taxes or other liens or charges or the
payment of sums under a Prior Mortgage by thc Mongagee shall not be a waiver of the Mortgagee's right to accelerate the maturity of the
~ndebtedness secured by this mortgage_ All remedies prov~ded in this mortgage are distinet and cumulative to any other right or rcmedy under
this mortgage or afforded by law' os equit} and may be exercised concurrcntly. independently or suctessively.
10. To pay all costs charges and expe~es including attorney's fees (whether or not litigation occun and if it~does then those on appellate u
well as trial level) and abstract costa reasorably incurrcd or paid at any time by the Mortgagee becauu of the failure on the part of the
Mortgagor to perform, comply wi~b and abide by all of his covenants set forth in th~s mongageand/or the I~oteand /or Prior Mortgage(s)and
thc promissory note(s) secu:ed thereby. r~ A.~ ~ww
I I. The Mortgagee:s a licensed monga~e 1:roker under Chapter 494, Florida Statutes. ~~x~v~ ?.~.~ir( V~J~~
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Hi. 2 xo ~ Prepared h~• Stanley H. Spieler, Attorney, 4700 Biscayne Boulevard, Miami, Florida 33137