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MORTGAGE madr thr day Arlow ~ct lorth txtween the Mo~tgagor Atlow named and the Mortgagce, METROPOLITAN MORTGAGE
('O., a Flonda corportatiun.
W H E R E AS, tht ~lortgagor i~ indebted to thc Martgagce as evidenced by a certain mo~tgage no~e ( IVote) of even date from the Mortgagor
to Mortgagee as d~scrilxd 1+tlow.
To sccurc to the Mortgagee the pcrtormance b}• the Mortgagor o! all his agreements set (orth in this Mortgagt and the hote, includ~ng the
repaymcnt o( the indcbtedness e~~~dencrd b~~ thr \ate, inlcrest thercon, sums ade•ancrd by the Mongagee in accordance with the prov~sians of
this Mortgagc ta protect the lien and sccurily thereoi, and interest thereon, the Mortgagor does hereby mortgage, grant and convey to'the
Mortgagce lhe rral proprrty drsc-iAed below• together with (a) all eaxments, rights, tenements, hercditaments, rcnts. issues and profits
appurtrnant thrrrto, (b) :~Il buildings, structures and ~mprovements ~ow or hereafter Ic~cated upon said real ptopetty, (c) all of the (ollowing
prrsentll~ attachrd thrreto: pipra, plumbing fiatures and cyuipmcnt, electrical condwt and wiring and fixtures, heat~ng and cooling and air
condiuon~ng eyuipmznt and fixtures, sprin-l~ng and ~rrigat~on equipment and fixtures, pumps, fences and awnings; and (d) tange, oven and
refrigeratur presentl~• upon the premises; all o( the forego~ng are here~n reterrcd to as the "Property." To have and to hold the same unto tht
!~loctgagte, its ~uccessors and ass~gns in fre simple.
The Mortgagor cum•enants that he is lawfulh• seiTCd of the estate hercb~ con~eyrd and he has tht right to mortgage, g~ant and conveythe
Property, that thr Pru~-erty is unrncumtxr~d except as may tx below noted, and thet the Mortgagor w~ll warrant and defend the title to the
Propeny against all cla~ms and drmands.
And thr Mortgagor covenants and agrees as follow~s: ~
I. To promptl~• pay when due the pnnc~pal o[ and mterest on the indebtedness e~•idenced by the Note and prepayment and late charges as
pro~~idcd therein. -
2. To paa• all taxes, a.sessmrnts, charges, fines and other impositions of governmental authority against the Property within sixty(60) days
of when du~ or sixty (60) days pnor to the same becoming delinquent, whichever may first occur.
3. If it is noted below~ that this ~~ a second or other subordinate ranked mortgage, ~hen to promptly pay when due principal and interest
ow ing under mortgagels) of higher priont}~ 1"Prior Mortgagels)"), lo promptly pa~ to the holder(s)of Prior Mortgage(s) sums due on account of
taxes and insurance prem~ums as may be provided for undcr the prov~sions of the Prior 1-lortgage(s), and to otherw~st fully, promptly and
cumpletcl~~ keep and perform all of the prom~ses and convenants of the mortgagor under Prior MortgagNs-and tht promissory nott(sl secured
thereby; all of the torego~ng uithout rc~:~rd to an} wa~vers, extensions or indulgencrs granted by the holder(s) of Prior MortgagNs) unless with
the prior consent of the Morle:+Rec.
4. \ot to appk to, reyuest of, rccr~~~e or accept trom aAy holder of any Pnor !4lortgage any mone~, (unds or things of value whieh would,
m~ght or could be comidered a~ an ad~ance cecured by the I~en o( such Pnor ~fortgage.
S. \ot to commit wastr ~~r permit ~•r suffer thr ~mpairment or deterioration o( the Property; not to erect or permit to bt erected any new
huilding~ on thr Propert} or am~ ~tructural alterat~ons to exisung buildings without the ,lortgagee s prior written consent; to comply with all
tiubdivision restnctions ~nd ~~ning and other regulator~• lav-s and ordinances af(ectin~t thc Property. lf the Property isa condominium unit, the
tilortgagor shal!,promptl}• ~nd ~r.mpletel~~ perform all. of his obligations under thc declarat~on of condominwm and the condominium
assc~ciation's artidcs of ~ncorportation, b}•-law~s and rulcs and rcgulauons and othcr constituent condominium documents including but not
1~ mited to the payment of all reg~~lar and sF±ecial assessments, the litns (or which against the Propeny might or eould have prionty over the lien of
thi~ mortgage. If the Propert~• is part of a planned unit development, the ~fortgagor shall promp-tycomply with all provisions of the deelaration
of co~•enants and restrictions establishing the same and shall promptly fulfill all his obligauons under the constituent documents of tht plann~d
unit de~~clopment including the homeowners association's or its equivalent's articles and by-laws and shall promptly pay all asussments or
charges of ever~~ nature (no matter how des~gnated) thc lien [or which against the Property might or could have pnority over the tien.of this
m ortgagc.
6. To keep all the Property insured as ma~• be-reyuired irortl time to time by the !~lortgagce against loss by fire, windstorm, hazards,
casualties and contingencies for such periods and for not less than such amounts as may be reasonably required by the MoRgagee and to pay
promptly when due all premiums for such insurance. The 4lortgagor agrees to deliver renewal or replacement polic~es or certificates therefor to
the \+lortgagce at least fiftcen i I S) days prior to the expiration ~r 3nniversarydate of the existing policits. Tht amounts of insurance rcquired by
t he Ma~tgagee shall be minimum amounts tor wh~ch sa~d ~nsurance shall be written and ~t shall be incumbent upon tht Mortgagor to maintain
such add~t~onal insurance as may tx necessar~ to mcet and compl}~ fully with all co-insurance requircmentseonw~ned in said pol~eies to the end
t hat the !Nortgagor is not a co-insurer thereunder. Insurance ma}' be wntten by a company or companies approved by the Mortgagee (which
approval shall not t-e unreasonably w•~thheld) and all po{ic~es and renewals shall be hcld b}• thc Mortgagee unless in the possession of a holder of
a Prior Mortgage. All deta~led designations bp the Nortgagor which are accepted Ay the Mortgagee and allagreements between the !Nortgagor
and Mortgagec relating to ~nsurance, nowexist~ng or hertafter made, shall be in writ~ngand shall be a part of this mortgage agreemem as tully as
choiigh sct (orth verbatim herc~n and shall govern both parties hereto. ho lien upon an} polic}• of insurance or upon any refund or return
~remium w hich may be payable on che canrrllation or term~nation thereof shall be given to other than the Mortgagee exeept a holder of a Prior
~1 ortgage or b}• proper endorsement affixed to such policy and approved by the Mortgagec. Each policy of insurance shall have affixed thereto a
Standard ticw• York !Nortgagee Clauu W~thout Contnbution making all foss o~ losus under such policy payable to the Mortgagee as iu
~nterest may appear. In the eeent am sum or sums of money become payable thereunder the Mortgagee shall have the option to recave and
apply the same on account of the indebtedness secured hereby or to permit the Mortgagor to rece~ve and use it or any part thenof without
wa~~•~ng or impainng an} eywt}~, lien, or nght under and by vinue of this mortgage. In the event of loss or physical damage to the Properiythe
~lortgagor shall g~~e ~mmediatr n~uce thereoi b~• mail to thc !Wortgagee and the Mortgagee may make prootof loss if the same is not prompUy
made bc the ~lortgagor. In thr e~ent of foreclosure of this mortgage or other transfer of title to the Property aU right, tide and intercst of the
~1~rtgagor m and to the tnsurancc polic~es shall pass to the purchases or grantet.
7. (( thc Mortgagor fails to prr(~rm his cmcnants and agreements cantained in this mortgage, or if the Mortgagot (a~ls to perform any duty
,~r obligauon ansing under a Pn~r ~lortgage (mcluding thc payment of principal and or ~nterest, deposits un atcount of taxes and insurance
~rem~ums and late charges eren though the holder of the Pnor Mortgage has made no demand thercunder and has not threatened any action in
~~~nnecuon w~rth the same-, or i( am• action or procecding is commenccd v`hich matenally affects the Mortgagee's interests in the Propen},
~ ncluding but not 6m~ted t~ em~nent doma~n or code en(orcement or arrangements ~nvoh-ing a bankrupt or deeedent, or i( there is an apparent
~bandonment of the Proptrt~•. then the ~lortgagcc at its opt~on may pay to the holder of a Prior Mortgage all or parts of the sums necessary to
hnng the Pn~~ ~lcrrtga~r currrnt. ma~• makc appcarances, may enter upon and secure the ProFxrty, may disburse such other sums (induding
hut not limitrd to thr p:+} ment of intiurance prem~ums and taxes-, and ma}• take such other action as the Mortgagee reasonably deems necessar}•
~~r ad~ rcahlr t~+ prutr~t hi. interests ~n the Properh, all w•ithout regard to the ~~alue of the Propert~•. Any amounts disbursed by the !~lortgagee
~ursuant to thr pro~~siuro ~~f this paragraph, tugether vrith intcrest thcreon at the rate o( e~ghteen ( I8r'~) per cent per annum shall becomc
additional indebtcdncss of thc ~iortgagor secured b~• this mortgage. 1'nless thr ~lortgagor and ~1ortgagcc agree in wriung tosome otherterms
~~( ~ayment. such amounts shall t-e pa}~abl~ immediatelc \othing in this paragraph shall require the ~tortgagee to incur any expense, make an}•
disbursement or take anc action whate~~er.
8. All procecds of an~~ award or claim for damagcs direct or consequrntial in connection with an}• condemnation or any other tak~ng by
~minent domain of iht Ptoperty or an~ part thereof. or (or com•cyance m lieu otc~ndemnation or eminent domain arc hereby assigned and shall
oe paid to the Nortgagee. Unless the ~tortgagor and !Nortgagee otherwise agree in wnting (a- all proceeds received by the Mortgagee shall be
apphed to thc sums secured bc th~s mortgage u•~thout ~mposrtion of any prepaymeni charge, and (b) the application of proceeds shall not eatend
or postpone the duc date of installments of pnnc~pal and mtercst ot change the amounts thereof.
9. Any forbearance by the Mortgagce in ezercising any right or remedy hereunder or otherwise afforded by applicable law shall not be a
w a~ver of or preclude the eacrcise oi such right or remedy. The procurcment of insurance or the payment o( taxes or other liens or charges or the
paymcnt of sums undcr a Pnor i~lor~gagc b}• thc Mortgagee shall not be a waivcr of the Mortgagce's right to accelerate the maturity of the
~ndebte~ness secured by th~s mortgag,e. All remedies ~rovided in this mortgage are distinet and cumulatice to any other right or remedy under
this mortgage or affot-7ed by law or cquit}• and ~nay !x exercised concurrently, independently or wecessively.
!0. To pay ell costs chatgc~ and expenses including attorney's fees ~whether or not litigation occurs and i( it does then those on appel{ate as
well as tnal kvell and abstract costs reasonabl}• incurred or paid at any time by the Mortgagce because of the failure on the part ot the
Nortgagor to ptrform, c~mply with and abide by all of his covenants xt lorth in this mortgage and or the Kote ar~d; or Prior Mortgagqs)and
thc promissory notNs) sc~Yrc~ thereby.
I I The Mot~gagee ~s a ticenSeA mortgage broker under Chaptcr 494, Florida Statutes. '~~347 ~ ~1Z•J
!','~~!; • Q..~iF
kt : wi ~Prcparcd M Stanle~ H tipiclcr. Attorne}. 4700 Biuayoe Bouk~•ard. !41:ami, Flonda 33117
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