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Home My WebLink About0854~~ . , . .. - - S14f;3p ~ MORTGAGE made the day bclow ut fonh betvreen the Mortgagor below namcd and the Monpsee, METROPOLITA\ ~lORTGAGE CO., a Flonda corpottation. _ W N F RFAS, the Mortgagor is indebted to the Mongagee as evidenced by a certai~ monpae aotc (Note) deven date from t6c ~lonp~toi to Mortgagee as describcd below. To secure to the Mortgagee the performance by the Mongagor of all his agrccments sct tortb ia tbis MottZa,~e and t~ \ae, ~ndud~ng~be repaymrnt of the indebtcdness evidenccd by the Note, interest thereon, sums advanted by the MoR`,aiec in socordanoe w~itb the pio~as~ons o( this htortgage ta p~otcct the lien a~d secunty thercof. and interest thercon, the Mortgagor docs beccby mortp~t, paat atd coa~r~• to t6e Mortgagee the real property descnbed below toge~her with (a) all eaume~ts, rights, teoements. 6ereditameets, reats, issues and profiu appurtrnant thercto; (b~ a11 buildings, structu~es and ~mprovements now or hereafter located upon said rcal property, (c) aU of tbe toUo.-~na prese~tl~~ attached thereto: pipes, plumbing fiatures and equipment, eiectrical conduit and wirias and fiztures, buUn~ and cooLn6 and au cond~tioning ~qwpment and fixtures, sprinkling and irrigat~on equipment and fixtures, pumps, fences aad aw~ainas; ind (d) ranae, o~Yn and refngerator presentl} upon the premiscs; all of the foregoing are hcrcm referred to as the "Propcrty." To 6a~ti aad to boW tbe same uato the ~turtgagee, its successors and assigns in (ee simple. The Mortgagor cunvenants that he is lawfully seized o( the atate hercby conve}~ed and he lus t6e tiaht to monpge, gant and coa~ tbe Propen~•, that the Property is unencumbered except as may be below noted, and that the Mortgaaor w~iU w~arrant and delcnd t6e utk to tbe Property against all claims and demands. And the Mortgagor covenants and agrees as follows: 1. To promptly pay when due the principal o( and intercst on the indebtedness e~~denoed by the Nott and pttpayment and late c~ar6es as pro~•idcd therein. 2. To pay all taxes, asxssments, charges, fines and other impositions of governmtnul authorityaaaiatt the Propcrt~ w~thin saq~ (60) da~s of when due or sixty (60) days prior to the same becoming delinquent, v-~hichever auy first octur. z. I( it ~s notcd below• that this is a second or other subordinate ranked mortga6e, then to promptly pay ~rhen due principa! and intcmt ~~w ~ng under mongagc~s) of higher priority ("Prior Mortgage(s)"), to promptly pay to the holder(s) of Prior Mat~aaqs- sumsdue on aocouat of caxes and ~nsurance premiums as may be provided (or under the provisions of the Prior Mortgaae(s), and to othenvise fnlly, promptly and c~~mpkteh• kcep and perform all of the promiscs and con~•enants of th~ mortgagor under Prior Mortaa6qs)s.od tbe promissory notds-secortd thcrrb~•; all o( the foregoing w•ithout regard to any w~aivers, extensions or indulgences granted by tbe holdcr(s) of Prior Mortgaaqsl unkss s~th thc prior conscnt of tht ~tongaget. 4. \ot to apply to, rcquat of, recei~•e or accept (rom anp holder of any Pnor Mongage any money, funds or th~nas of value wh~ch tiou3d. might or could be considercd as an advance secured by the lien of such Prior Mortgage. S. \ot to commit w•aste or permit or su(ter thc impairment or deteriontion of the Propcrty; not to crett ot pcrmit to be eroctod any ac~ hu~ldings on thc Propeny or any structural alterations to cxisting buildings without the Mortpaoe's priat wntua ooaseat; to rnmpt~• ~nb all , uAd~~~ision ratrictions and zoning and other regulatory laws and ordinances affecting the Property_ If tbc Property is a candom-nium unit_ tbe ~tortgagar shall, promptl~ and compktely perform all of his obligations undcr the declantioa d coodomu-ium and tbe coadomimum association's articles of incorportation, by-laws and rules and rcgulations and other conuitueat condominium documenu ~ncludin6 iwt not limitcd to the paymcnt of all rcgular and special assessments, the liens for which against th~ PropMy misht ot oouW ~avc priority o~erthe licn d c h is mortgage. lf the Propeny ~s part of a planncd unit developmcnt. the Mortgagor shall prompltycomply rith a.U ptwis~o~ of tbederluatwn uf covenanfs and restriaions establishing the samc and shall promptly (ulfiU all his obl~gatioas under t6e canstitueat documentsof the piannod unit de~•elopment including the homcowners association's or iu equn•alcnt's articles and b~-laws and shall promptly pay all assessmeau or ~harges of evcry nature (no matter how dcsignated) the lie~ tor which against the Propeny mi~6t or could 6a~~e pnority over the l~en ot thn mortgage_ 6. To keep all the Propeny insurcd as may be required from timc to timc by the Mortgaaee aaainst {oss Sy fire, rrindstorm, haurds, casualties and contingcncia for such periods and for not less than such amounts as may be rrasonably roquired by tbe Mortaaaee and to pa~• promptlywhendueall premiumsforsuchinsurance.TheMortgagoragreestodeGvtrrenewalorrcplaccmentpoliciesorccrtificatatbereforto t hc titortgagee at least fifteen (1 S) days prior to the cxpiration or anni~trsary date of the exisUng po:iaes. Tbe amoums of i~uranoe reqwrod by t he htortgagee shall be minimum amounts for ahich said insurance shall be written and it shall be incvmbent apon tbe Mon~orto maintun such additional insurance as may b~ nccessary to meet and comply fully with all co-insuranoc roquircments ooatainod in uid policies to t6e end chat the titortgagor is not a co-~ns~rer thcreunder. Insurance may be written by a company or compania approvod by tbe Morta,aaer 1~-hxb appro~al shall not be ur-rcasonably withheld) and all policies and rcnewak s6a11 be heW by the Mortaagcc unkss in tbe posscssion of a hoidcr ot a Prior ~lortgage. All detailed des~gnations by the tifortgagor which arc acoeptcd by the Mortga~ee and sll a~reemcnu betwKen thc ~lortp~tor a nd Mortgagee relating to insurance, now existing or hereafter made, shaU be in writing and shill be a put of this mortstae a;roemeat u fulh as though xt forth verbatim hcrein and shall go~•ern both patties hereto. No lien upon any policy of insuranoe or npon any refund or murn prem~um w•hich may be payabk on the canccllation or termination thereof shall b~ g~ven to otlxr than tbe Mo~t~aaoe exc~ept a boldrr of a Pnor ~f ortgagc or b}~ proper cndorsemcnt affixcd to such policy and approved by the_ Mort6agoe. Eacn policy of insuranoe sha0 have ~s~d thcreto a Standard \cw• York Mortgagee Clause Without Contribution making all lou or losses under suc6 poliry Qayable to tbe frlott~a~et u rts ~nterest may~ appear. In the e~~ent an}• sum or sums of money become payabk theceunder t6e Mort~ajee shill 6ave the optioo to rcea~t anct apply thc same on account of the indebtedness securcd henby or to perm~t tbe Mortgaaor to reoave and use it or any put tberrd ~-~tbout K aiving or impairing anp equity, licn, or right under and by virtue of this mortgaae. Ia the evcnt of lou or physica! dtmaae to tLc Property t4e ~t ortgagor shall grve immcdiatc notice thereot by ma~l to the ~tongagee and tht Mortgagee may make proof of loss dtbe umc u aa prompth madc b~• the ~tortgagor. In thc e~•ent of forcclosurc of this mortgage or other tnn'sfer of titk to t6e Property all nght, utk and inurest dtbe ~lurtgagor m and to thc insurance policies shall pass to the purchaser or grantte_ '. If thc ~lortgagor fails to perform his covenants and agreements contained in this mortsa6e, or if tbt Mott~or fails to perform anti dut~ ~~r obtigat~on ar~sing under a Prior Mortgage (including the payment of principal sad ~ or interest, deposiis on aecount of ta:es and insunnee ~remwms and latc charges evtn though the holder of the Prior Mortgage hu mide aodemand t6cre~nderasd 6as not thratenod an} uuon in ~~~nnect~on w~th the same), or if any action or proceeding is commenced which materiaUy aRats t6e Mort~~ee s iaterests ~n tbe Propeit?. ; r.clud~ng but not limited to eminent domain or code enforcement or arrangements involving a baakrupt or deeodeet, or if therr ~s an appirent d bandonment of the Property, thcn the Mortgagee at its option may pay to the 6older of a Prior Mort~e all or parts of t1x sums ~su~ to hr~ng the Nnor ~tortgage current, ma}• make appearances, may enter upon and xcurc the Property, may disburse such otber sums ~~sc;udin~ hut nut lim~~rd to thc pa~_mcnt of insurance prem~ums and taxes), and ma~ talce such otheraa~on as tbe Mortaaaee reasonaba drems ix+crssarc ~~r ~d. iwbte to protcct h~s ~nterests in the P~operty, all w•ithout regard to the valoe of the Property. Any amounu disbcrsfld b~ the ~lortgagoc ~unuant to tF.e pro~isions of this paragraph, togethcr with interest thercon at the rate of nghteta (18~- per oent per :nnum shall bocamc .+ddinonal indebtedness of the Mortgagor securcd by this mortgage_ Cnlcss thc ~lortgagor and Mortgagee:Eree in writingto somr otl~cr trrms ~~i pa~ ment. such amounts shall be payabk immediately~. \othing in th~s paragraph shall rcquire the Mortgagee to icrcuran~•ex~casc. maic an. ~~sbursement or takc any action w•hatever. R. All proceeds of any award or claim for damaga direct or conseqnential in connectioa with any condemmt~on or an~• otbcr uiunlt ~~ em~ncnt domam of the Property or any part thereof, or for conveyance in lieu of condemnation or emitxnt domzin are 6ereby asu6nod and sl~ill he paid to the Mortgagee. Unkss the Mortgagor and Mortgagee otherwise agroe in writins (a) aU proaods retavod by tbe ~tort~er shall be a pplied to the sums sccurcd by this mortgage w~thout impos~t~on of any prcwvaxat charge, and (b) t6e applicst~on otproceeds stsall not e:ued or postpone the due date of installments of principal and interest or changt t6e unounts thereot. - 9. Any forlxaran« by the Mortgagec in ea~rcising any right or rcmody 6ercunder or otbenvise afforded by appliabk la. sha11 na bc a w a iver oi or preclude the exucise oi such right or remedy. The procurcment of iasuranoe or t6e paymeat oitua or aher liens or char~es or ~be payment of sums under a Prior Mortgage by the Mortgagee shall not be a waiver of tl~e Mortis~oe's ri66t to aooekrau tbe matunt} ot tbe ~ ndcbtcdness securcd by this mortgage. Atl remedies prov~ded in this mortgage are distintt and eumulauvt to any otber ri~t or rrmod~- under this mortgage or afforded by law or equity and may be exercised concurrently, independrntly or sueaessivdy_ 10. To pay all costs chaigrs 6ad expenses including attorney's fees (whether or not litisation oocuts and if it does tbea tbo~e on appeilate as wcll as trial Icvel) ar-tt ab:tnct costs reasonably incurrcd or paid at any time by tbe Mortp~ot bocause of tbe fulure oc tbe part of tbe 4tortgagor to perforrr., :amply with and abide by all of his covenants set forth in this mort~e and - or tbe Kote and or Prior Monp~ds)aed che prom~ssory n~te(s) seewrec+, thercby. I 1. The Mortgagee is a licensed raortgage broker under Cbapter 494, Flonda Sututes. 't~ ~~~• 7 ~~~ ~.51 r,~ ~~u~ ~Prcpared b~• Stanlep H. Spielet, Attorney, 4700 B~~ayne Bouk~•ard, Niam~, Flonda 331i7 ;~ .. ~:..,~.~"~