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Home My WebLink About0849. ,, ; , .~v. J• . . . ~' ~I 51~~2'1 I~10RTGAGE made the day below set fonh betwcen the ~+longagor below nam~d and the Mongagee, METROPOLITA\ ~lORTGAGE ;'()., a Florida corportation. . W H ER EAS, the Morigagor is indebtrd to the Mongagee as ev~denced by acenain mortgagc note (Note) of e~Yn date trom the Mongaaot tu 4tortgagee as described below. To securc to the Mortgagee the pe~formance by the Mongagor of all his agrccme~ts set tonh in this Mortgtge and the ~ote, includ~ngthe rrpayment ol the indebt~dness evidenccd by the IVote, interest thereon, sums advanced by the Mortgagec in aaordancc v-•ith thc pro.ls~ons of ch~~ Mortgage to protcct the lien and secunty thercof, and interest thereon, the ~lortgagor does hercby mongage, gnnt and con.~e~ co the ~lortgagte the real pro~xrty deuribed below toge~her with (a) all easements, rights, tencmeats, herediLamcnts, ~ents, issues snd profits appurtenant thercto; (b) all bwldings, structures and ~mprovements now on c~rcafter located upon said real property, (c- all of the foll~v~~n6 presently attachcd thereto: pipes, plumbing fixtures and ~quipment, clectrical conduit and winng and 6atures, hcaung and cool~ng and a-r ~onditioning eyuipment and fixtures, sprinkling and ~rrigat~on equipment and fixtura, pumps, fenccs and awnings; and Id) ~ange, o~tn and rr(ngerato~ prcuntly upon the premises; all of the (oregoing are here~n rcferrcd to as the "Propeny" To have and to hold the same unto the ~turtgagee, its successors and assigns in fee simple. ~The hlo~tgagor convenants that he is lawtully seized of the estate hereby conves~ed and he has the nght to mortgage, grant and comr~ che F'roparty, that the Property is unencumbcrcd oxcept as may be below noted, ar~d that the Mottgagor vnll warrant and defcnd the utk to the Property against all claims and demands. And the Mortgagor covenants and agrees as (ollow~s: 1. To promptly pa}• when due the princ~pal of and interest on the ~ndebtcdntss e~•idcnced by the \ote and prepayment and late charg~s as prov~dcd therein. 2. To pay all taxes, assessments, charges, fines and other impositions of governmental authority against the Propert}• v-ithin sixty I60) da~~s uf whcn due or sixty (60) days prior to the same becoming delinquent, whichever ma~~ Grst oceur. 3. If it is notcd below• that this is a second or othcr subordinate ranked mortgage, then to promptly pay v-hen due pnnc~pal and interrst uw ~ng undcr mortgage~s) of highcr priority ("Prior MortgagNs)"-, to promptly pay to the holder(s) of Pnor Mortgage(s) sums due on account ot ~axes and insurance premwms as may be provid~d for under the provisions of the Prior ~~ortgage(s), and to othervr~se fully, promptly aad rampletel~~ keep and pe~form all of the promiscs and convenants o( the mortgagor under Prior MortgagNs) and the prom~uor~• notNs-seeurcd ehereby; all of the (orcgoing without regard to any w~aivers, extensions or indulgences granted by the holderis) ot Pnor Mortp,age(s) unkss v~~th ehe prior consent of the Mortgagee. _ ' d. Not to apply to, request of, rccei~•e or accept from an}~ holder of any Pr~or ~lortgage any money, funds ot th~ngs of ~~alue which would. m~gh~ or could be considered as an ad~ance secured by the lien of such Prior `lortgage. 5. \ot to commit w•aste or permit or suffer th~ ~mpairment or deterioration of the Property; not to ercct or permit to be erected an}• nea buildings on the Property or any structural alterations to existing buildings without the ~lorigagee s prior w~titten tonsent; to comply w~th all , ubdivision restrictions and ronmg and othcr rcgulator}~ laws and ordinances aftecting the Property. If the Property is a condom~mum unu, che ~lortgagor shall,promptly and completcly perform all of his obligations under the declaration of condomm~um and the condomin,um essociaUOn's articles of incorportation, by-laws and rules and rcgulauons and other constituent eondominium doeumenu inelwim~t but not ! ~ miced to the payment of all regular and special assessments, the liens for which aga~nst the Property m:ght or could hace pnorit~ over tht lien oi c hu mortgage. If the Property is part of a planned unit de~~elopment, the Mortgagor shall prompltycomply with all pro~~sioas of the declant~on of covenants and restrict~ons establishing the same and shall promptly fulfill all his obl~gauons undertheconstituent documenu of the ptanned un~t development including the homeowners association's or its eqwvalent's anicles and by-law~s and shall promptly pay all assessments or charges of e~•cry naturc (no mattcr how designated) the I~en for which against thc Propert~• might or could ha~~e pnorit} o~er the lien of tlus mortgagc. 6. To keep all the Propcrty~ insu[ed as ma}• be rrquired from time to time by the !liongagee aga~nst loss by firc, windstorm, haurds, ~asualties and cont~ngencies for such periods and for not Iess than such amounts as may be reasonably requircd b~• the Mortgaget and co pa~ p rompdy w•hcn duc all prcmiums for such insurance. Thc ~tonp,agc+r agrees to det~~•er rcncwal or replacement poGnes o~ certifiutes thtrcfor to t hr tif ortgagee at least fifteen (15) days prior to the expiration orann~~•ersary date of the cxisung policies_ The amounts of ~nsunaoc rcquired b~ ~ hc Mortgagee shall be minimum amounts for w•hich said insurance shall be v-ritten and it shall be incumbent upon tht !~tortgagor to maintam ~uch additional insurance as ma~~ bc necessary~ to meet and comply fully with all co-insurance rcyuiremcnts contained in sa~d pol~cies toehe end ; hat the :~lortgagor is not a co-inwrcr thereunder. Insurance ma} be M+ntten b~~ a compam• or compania appto~•ed b~ the MoAgag~t (v-h~ch .epproval shall not be unreasonabl}~ withheld) and all polrcies and rcnewals shat! be held b~~ the ~lortgagee unkss ~n the possession ota ho!der of 3 Pnor Mortgage. All detailed destgnations b}• the ~tortgagor which are accepted by the ~lortgagee and all agreements between the ~longago~ a nd tilortgagee relating to insurance, now~ cxisung on c~rcafter made, shall br in w nt~ng and shall be a part of this mortgage agreeinrnt as {u11~- as thuugh set forth verbatim herein and shall go~•ern both parties hereto. ':~o licn upon any policy of insurance or upon an}• rcfund or return premium which may be payable on the cancellation or term~nation thereof shall be gn•en to other than the Mortgagee except a fiolder of a Pnor ~1o:tgage or by propercndorsement affixed to such policyand approvcd b}• the Mortgagee_ Each polic}• otinsurance shall hace affiied thentoa Scandard :~cw• York Mortgagee Clause Without Contribution maicing all loss or losscs under such polic~ pa}•abk to thc ~longagee u its :nterest may appear. ln the event any gurtl or sums of money become payable thereunder the Mortgagee shall ha~Y the option to recn~rt and eppl}• the samc on account-of the indtblednt'ss securcd hereby or to permit the Mortgagor to recnve and use it or any~ part t:xnof w~thout H a i~ ~ng or impairing any~ cquiyT, ~ieq; , ~t ~der and by virtue of this mortgage_ In the event ot loss or pht~cal damaEte to the Propert~ the ~t nrtgagor shall g~~•e ~mmed~ate notrce t ereof by mai) to the Mortgagee and tht Mortgaget may makc proof of loss :f thc samr is not promptl~ ~~ade b~• the 1~tortgagor. In the event of foreclosure of th~s mortgage or other transfer of titk to the Propertc aU nght. t,de and ~ntercst of the ~tc~rtgagor in and to the insnrance policics shall pass to the purchascr or grantee_ 7. I( the ~lortgagor fails to perform hts co~•enants and agrtements conta~ned in this mortgage, ot it~he ~lortgagor fa~is to E+ertorm an} dut~• ~~r c,filigadon ansing under a Pner '.1lortgage 1~ncluding the payment o( princ~pal and or intercst, deposits on account of taxes and insurance ~ rrm~ums and latc charges e~•en though thc holder of the Prwr yiortgage has made no demand thcreunder and has not thrcatencd ana action :n ~~~nnection w~ith the same), or i( anc action or proceeding is cnmmenced w•hich matenaU}• affects the Mongagee's ~nterests in the Propem_ n~ fud~ng but not lim~ted to eminent damain or codt enforcemrnt or arrangements invol~ing a hankrupt or decedent, or d thtre ~s an apparent .~ handonmrnt of the Propcrty. ~hen the tilortgagee at its opti~n may pay to the hoWer of a Pnor Mortga~te all or parts of the sums nccessan t.~ ~~rmg the Pnor ~tortgage current, ma}• make appearanas, ma~• enter upon and secure the Propert~, ma}~ d~sburse such othcr .ums I~nciud~n¢ ~~ ::r not limitrd tu the payment of insurance prem~ums and taxesl, and ma~• take such other action as the ~1on~tagec rcasonabl~ drem~ nccessan ;.~~i~ i~able tu prutect his intcrests in the Property, all w~ithout regard to the ~•alue of thc Propert~ Am amounts d~sbursed b~ thc ~tortgagtr , ur~uant to the pro~•isions of this paragraph, together with interest thereon at the rate of aghtcen 1 I R~ 1{xr cent per annum shal: becorne .~~id~uonal indebteJness of the Mortgagor secured b~• this morigage. Unless the ~lortgagor and lfortgagee agrer m v-nting to some ~~thcr terr~s ~~t ~+:~}~ment, such amounts shall be payable immediatel~~. \othing m this paragraph shall require the ~lortgagec to incur am e~pcnse_ ~aCc an~ i~.hursement o: take any action whate~•er. . 8. All proceeds ot any aw•ard or cla~m tor damages direct or consequent~al in connection witA an} condemnauon or an~• other uking b~ e minent domain of the Property or any part thereof, or for conveyance ~n lieu of condemnation or eminent doma~n a:e henbc ass~gned and sh.:ll he pa~d to the Nortgagee. Unless thc Mortgagor and'.Nortgagee otherwise agree in rariting (a) all proceeds recci~rd b~~ the `lortgagee shall be a pplitd to the sums secured by this mortgage w~thout impos~tion of any prcpayment charge, and (b- tise applicat~on of proceeds shall not extend ,~r postpone the due date of installments of principal and interest or change the amounts thenof. 9. Any forbearance by the Mortgagee in exercising any right or remcdy hereundcr or otherv-ise afforded b}~ appl~cabk law• shall not be a ~.: e iver of or preclude the exercise of such right or remedy. The procurement of insurantt or the pay ment of uxes or other tiens or ct-arges or t!x ^..~ ment of sums under a Prior 1lortgage by the Mortgagee shall not be a waiver of the Nortgagee i nght to accelerate the matunt}- oi tAe ~ ndebtedness secured by this mortgage. Alt remedics provided ~n this mortgage are dist~nct and cumulati~~e to any other nght or remed~• under ~his mortgage or afforded by law or equity and may be exerciscd concurrently, independently or suctessi~Yly. 10. To pay al! costs charges and expenses including attorney's fees (whether or not litigation occurs and if it does then those on appellate u µcll as trial level- and abstract costs reasonably incurrcd or paid at any time by the Mortgagee bocause oi ihe fa~lurc on the part of the ~lortgagor to perierrn, comply with and abide by all of his covenants set forth in this mortgageand. or the lotcand or Pnor vlortgagds-and ~hc promissory notNs) st~;ured thereby. 1 I. The !No~~gagec is a licensed mortgage broker under Chapter 494, Fionda Statutes. a{ : ru- ~1'repared by Stanley H. Spieler, Attorne}, 4i0q B~scayne E3oulecard. ~liami, Flonda ?;13' i ~~~347 P~U~ ~~6 9+J~1K ~ _.~~`~ ~ w~ ~