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Returu To:
N1GTItOPOLI"I':1N A10R'rcACE coMYANY
CORRECTIVE ~ 120 Urangc Avenue
`/~ ,;~ • R 3~~_/.! y''~oct Pierce. Florida 33450
I4~~ 4
MORTGAGE made the day below set fonh betwcen tht Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO., a Florida corportation. ~
W HEREAS, thc Mortgagor is indebted to the Mongagee as evidenced by a certain mortgage noto (Note) oteven date from the Mortgagor
so Mortgagee as described below.
To secure to the 111ortgagee the per(o~mance by the Mortgagor of all his agreements ut (orth in this Mortgage and the Note, including the
repayment of the indebtedness evidenced by the Note, interest thereon, sums advanced by the Mortgagee in accordance with the provisions of
this Mortgage to protcct the lien and security thercof, and interest thereon. the Mortgagor does hereby mongage, grant and convey to the
~fortgagee the rcal property described below toge~her with (a) all easements, rights, tenements, hereduaments, rents, issues and profits
appurtenant thereto; (b- all buddings, structures and improvements now or hercafter located upon said real property. (c) all of the following
praently attachrd thcrcto: pipes. plumbing fiatura and eyuipment, elcetrical conduit and winng and fixtures, heat~ng and cooling and air
ronditioaing eyuipme~t and fiatures, sp~inkling and irngat~on equipment and fixtures, pumps, (ences and awnings; and (d) ~ange. oveo and
ref~igerator prestntly upon the prcmixs; all of the foregoing arc herein referred to as the °Property." To have and to hold the same unto the
~lortgagee, us successors and assigns in fee simpk.
The Murtgagor convenants that hc is lawfully uizcd of the tstste hereby conveyed and he has the right to.mongag~, grant and convey the
Propecty, that the Propeny is unencumbered except as may be below noted, and that the Mortgagor wdl warrant and defend the title to th~
Propecty against all claims and demands. ~
And the Morigagor covenants and agrces as follows:
1. To promptly pay when due the principal of and interest on the indebtedness cvidenced by the Note and prcpayment and latechargesas
provid~d therein.
2. To pay all taxa, assessments, charges, fina and other impositions of governmental authority against the Property within sixty (60) days
of when duc or sixty (60) days prior to thc same becoming detinquent. whichever may first occur_
3. If it is noted below that this is a second or other subordinate ranked mongage, then to promptly pay when due principal and intcrest
ovr~ng under mortgage(s) of higher priority ("Prior Mortgage(s)"), to promptly pa~ to the holder~s) of Prior Mortgage~s) sums due on account of
eaaes and insurance premiums as may be provided for under the provisions of the Prior Mortgage(s), and to otherwise fully. promptly and
cumpletely keep and pcrform all of ~he promises and convenants of the martgagor under Prior Mortgage(s) and tht promissory note(s) securcd
thereby; all of the forcgoing without regard to any waivers, ~atensions or indulgences granted by th~ holder(s) of Prior Mortgage(s) unless with
the prior consent of the Mortgagee.
4. 1ot to apply to, reyucst of, receive or accept (rom any holder of any Prior Mortgage any money, funds or things of value which would.
might or could be considered as an advance securtd by the lien o( such Prior Mortgage.
5. Not to commit w~aste ur permit or suf(er the impairment or deterioration of the Property; not to ercct or permit to be erected any new
buildings on the Propeny or aqy structural alterations to existing buildings without thr Mortgagee s prior written consont• to comply with all
subdivision restrictions and zoning and other rcgulatory laws and ordinances affecting the Property.lf the Property is a condominium unit, the
`tortgagor shall~promptly and completely perform all of his oDligations under thr declaration of condomimum and the condominium
association's articles of incorponation, by-laws and rules and rcgulations and ather constituent condominium documents including but not
I~mitcd to the payment'of all rcgular and special assessments. the liens for which against the Property might orcouW have priority over the licn of
this mortg~$e. If theProQerty is part of a planned unit development. the Mortgagor shall promplty comply with all provis~ons of the declaration
of covenants and~rattrkaons cstablishing the same and shall promptly fulfill all his obligations under the constituent doc:uments of tt~e planned
unit development including the homcowners association's or its equivalent's articles and by-laws and shall promptly pay all assessments or
chargcs of cvery naturc (no matter how daignated) the licn for which against the Property m~ght or could have pnonty over the lien of this
mortgage.
6. To keep all the Property insurcd as may be required from time to time by the Mortgagee against loss by fire. windstorm. hazards,
casualties and contingcncies for such pcriods and for not kss than such amounts as may be reasonably required by the Mortgagee and to pay
promptly whcn Jue atl premiums for such insurance. The Mortgagor agrces to deliver renewal or replacement Policies or certificata therefor to
ehc Mortgagee at least fifteen (1 S) days prior to the expiration or annivcrsary date olthe existing policies. The amounts of insurana required by
the Mortgagec 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 mcet and comply fully witli all co-insurance requirem~nuconW~ned insaid policia to theend
chat 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 unrcasonably withheld) and ~II policics and renewals shall be hcld by the Mortgagee unkss in the posseuion of a holder of
a Prior Mortgage. All detailed designations by the Mortgagor which are accepted by the Mortgagee and all agreements between the Mortgagor
a nd Mortgagee rclating to insuranct. now existing or hereaRer made. shall be in writing and shall be a part of this mortgage agre~ment as fully as
though set forth verbatim hercin and shall govern both parties hereto. No lien upon any policy of insurance or upon any rcfund or rcturn
prcmium which may be payabk on the cancellation or termination thercof shall be given to other than the Mortgagee exoept a holder of a Prior
~lortgage or by properendorsement affixed to such policy and approved by the Mortgagee_ Each policy of insurancx shall have a(fixed thercto a
Standard New York Mortgagee Clause Without Contribution roaking all loss or losses under such policy payable to the Mortgagee as its
~n!erest may appear. In the ovent any sum or sums of money bocome payabk thereunder the Mortgagee shall have the option to rearve and
apply the same on account of the indebtcdness securcd hereby or to perm~t the Mortgagor to rea~ve and use it or any part thercof without
wa~v~ng or impairing any equity. lien, or right uoder and by virtue o[ this mortg~ge. In the event of loss or physical damage to the Prop~rty the
1~lortgagor shall give immediate notice thercot bv mail to the Mortgagee and the Nortgagee may make proof of loss if the same is not promptly
made by the Mortgagor. In the ev~nt of forcclosurc of this morigage or other transfer of titk to the Property aU right, title and interest of the
~lortgagor in and to the insurance policies shall pau to the purci~aser or grantee.
7_ !( the Mortgagor fails to perform hiscovenants and agretmcnts contained in this mortgage, or itthe Mortgagor fails to perform any duty
ur obligation arising under a Prior Mortgage (including the payment of principal and Jor interest, deposits on account of taxes and insurance
premiums and late charges evcn though the holder of the Prior Mortgage has made no demand thereunder and has not threatened any action in
connccuon with the same-, or if any action or proceeding is commenced which materially atfects the Mottgagee's interests in the Property.
i nclud~ng but not limitcd to emincnt domain or code enforcement or arrangements involving a bankrupt or decedent, or if therc is an apparcnt
abandonmcot of the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessary to
bring the Prior Mortgage current, may make appearances. may enter upon and securc the Property. may disburse such other sums (including
but not limited to the payment of insurance prcmiums and taaes). and may take such other action as the Mortgagee rcasonably deCms neassary
ur ad~ isable tu protect his interests in the Property, all without regard to the value of the Property. Any amounts disburxd by the Mortgagee
pursuant to the provisions of this paragraph. together with interest thereon at the rate of sixtcen (16%1 p~r cent per annum shall become
edditional indebtednessof the Mortgagorsecured bythis mortgage. Unless the Mortga~orand Mortgageeagreeinwntmgtosomeotherterms
•f pay ment, such amounts sF.all be payable immediately. Nothing in this paragraph sha11 require the Mortgagee to incuranyexpense, make any
disburscment or take any action whatever.
8_ All procecds of any award or claim for damages direct or consequential in connection with any condemnation or any other talnng by
emincnt domain of thc Property or any part tnereof, or for conveyance in lieu of condemnation or eminent domain are hercby ass~gned and shall
bc pa~d to the Mortgagce. Unless the Mortgagor and Mortgagte othenvise agree in writing (a) all proaeds reccived by the Mortgagee shall be
applied to the sums secured by this mortgage v-nthout impos~t~on of any Prcpayment charge, and (b) the application of proceeds shall not extend
or postponc the aue date of installments of principal and interest or change the amounu thereof.
9. Any forbearance by the Mortgagee in eacrcising any right or remedy hercunder ar otherwise afforded by applicabk law shall not be a
waiver of or preclude chc esercise of such nght or remedy. The procurement of ~nsurance or the payment of taxa or other liens orcharges or the
payment of sums under a Prior Mortgag~ by the Mortgagce sha0 not be a waiver of the Mortgagee's right to accelerate the matunty of the
indebtedncss secured by this mortg~ge. All rcmedics provided in this mortgage arc distinct and cumulative to any other right or remedy under
this mortgage or afforaed by law or equity and may be exercised concurrently. independently or successively.
10. To pay all costs chacaaand expenses including attorney's fees (whether or not Gtigation occun and if it does then those on appeUate as
well as trial kvell aod a~atracdcosts reasonably incurrcd or paid at any time by the Mortgagee because of the failurc on the part of the
Mortgagor to perfor _ compl with and abide by all of his covenants set (orth in this mortgage and/ or the Note and J or Prior Mortgage(s) and
the promissory note(s~ s:.c,~ ~~,~by. . E 2439
I I The M 1~ b k d Ch t 494 Fl'd St tutes ~'V 3~b
` . or!gagee ~s a icen+~ mortgage ro er un er ap er , on a a . G~.~x ~~~
~ H~ ~ R~. .~ iYrcparcd by Stanley N. Spielet. Attorney, 4700 Biscayne Boukvard, Miami, Florida 3313~