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Home My WebLink About1712~p 1~ ~. gS- IN ~Att~E11T Oi TAI~i ~~S1C70 REL`f71fE0 : Cu: oY ct+:s ~C ~~.';GdIE ~iA~on:t -roPEaT'~ . PUi.~L'lJil T~ .p:STii 11-': ~. A:iS Oi i~R RGG:~ PWiFJS ~ ,lS acwc aauR co~. tt. u~at ca. tug 3 . ~~.~~~,~,~ MORTGAGE made the day below set fonh betweeo the Mongagor below named and ~he Mong,aace. METROPOLITAN MORTGAGE ('c)., a Flo~ida corportation. W 11 F. REAS, the Mo~tgagor is inJebtcd to !he Mongagee as evidenced by a cenain mortgage note (Note) oteven date trom the Mongagor ~u Mortgagec as described below. To u~ure to the Mongagee the performance by the Mortgagor of all his agtaments ut (onh in this Mortgage and the hote, mciuding thc rcpaymcnt of the indebtedness evidenoed by ~he Note, interest thereon, sums advanced by the Monaagee in accordance with the provisions ot ~his Mortgage to protect the lien and security thereof. and interest thercon. the Mongagor does hereby mongaae. grant and canvey co the Mongagee the real property described below toge~her with (a) all easements, rights. teoeme~ts. hercdiumenu, rents, issues and profits appuneoant thereto; (b) all buildings. structu~a and ~mprovements now or hercatter I~cated upon said real propeny, ~c) all of the following presently attached thercto: pipes, plumbing fixturcs and eyuipment, electrical canduit and wiring and fixtures. heat~ng and cooling and air conditioning equipment and fiatures, sprinkling and irngation equipment and fixtures, pumps, fcnces and awnings; and (d) range, o~e~ and rrfngerator presently upon the premiscs; all ot the forego~ng are hercm referred to as the "Propcny." To have and to hoW thc same unto the ~turtgagee, Us successors and assigru in fee simple. The Mortgagor ~onvenants that he is lawfully seized of the estate hereby conveycd and he has the right to mortgage, grant and convey the Property, that the Property is unencumbercd except as may be below noted, and that the Mortgagor rnll warra~t and detend the titk to the Propeny against all cla~ms and demands. , And the Mongagor covenants and ag~ees as follows: 1. To promptly pay when due the principal o( and interest on the indcbtcdncss e~•~dcnced Ay the hote and prepayment and late charges as provided thercin. 2. To pay all taxes. assessments, charges, fines and other impositions of governmental authority against the Ptopeny vrithin siaty (60) days of when due or siaty (60) days prior to the same becoming del~nqucnt, wh~chever may first occur. i. If it is noted below that this is a second or other subordinate ranked mortgage, then to promptty pay when due pnncipal a~d intercst uw i ng unde~ mortgage(s) of higher priority ("Prior Mortgage(s)"), to promptly pay to the holdec(s) of P~or Mortgage(s) sums due on account of tares and insurance prem~ums as may be provided for under the provisions of the Prior Mortgage(s). and to otherwise fully, promptly and completely keep and per[orm all of the promises and convenants of the mortgagor under Prior Mortgage~s) and the promiuory note(s) securod t hcreby; all of the forcgoing without regard to any waivers, ~xtensions or indulgences granted by the holder(s) of Prior Mortgage~s) unless with the pnor conunt of the Mortgaget. 4. I`ot to apply to, request of, rcceive or accept from any holder of any Prior Mortgage any mone}, funds or things of value which would, might or could be considered as an advance secured by the lien of such Prior Mortgage. 5. Not to commit waste or permit or suffer the impairment or deteriontion of the Property; not to erect or permit to be erected any new huildings on the Property or any structural altcrations to existing buildings without the \tortgagc~'s prior written consent to compl~ with all , ~ t+division ratrictions and zoning and other regulatory laws and ordinances aitecting the Property_ If the Property is a condominium unit, the ~tongagor shall,promptly and complctely perfo~m all of his obligations under thc dcclaration of condom~nium and the condominium :~ssoc~at~on s articles of incorportatio~, by-laws and rules and regulations and other constituent condominium documenu including but not ! i mited to the payment of all regular and special asxssments, the liens for whith against the Property might or could have priority over the lien of e his mortgage. If the ProQerty ~s part of a planned unit devclopment, the Mortgagor shall prompltycomply with all provisions of the declantion ~~f coe•enants and restrict~ons atablishing the same and shall promptly fulfill all his obligations under the constituent documents of the planned unu development including the homeowners association's or its ~qwvaknt's artirles and by-lavrs and shall promptly pay all usessments w ~harges of e~~ery naturc (no matter how designated) the lien for which against thc Property might or could have.pnority over the lien of this m u rtgage. 6. To keep all the Property insured as may bc rcquircd from time to time by the Mortgagee against loss by firc, windstorm, haurds, ~asualtia and contingencies for such periods and for not las :han such amounts as may b~ rcasonably requircd by the Mortgagee and to pay prumptly when due all ptemiums for such insurance. The Mortgagdragrees to deliver renewal or replaeement policies ot certificates therefor to t he Mortgagee at Icast Cfteen (1 S) days prior to thc expiration or anniversary date of the existing policies. The amounts of insunnce requircd by che titortgagee shall be minimum amounts for ahich said ~nsurance shall be written and it shall be incumbent upon the Mortgagor to maintain ~uch auditional insurance as may be necessary to meet and comply fully with all co-insurance requirements eontained in said policies to t6e end chat the Mortgagor is not a co-insurer thercunder. Insurance may~ be wntten by a company or companies approved by the Mortgagee (w•hich ~ ppro~•al shall not be unreasonably withheld) and all policies and rencwals shall be held by thc Mortgagee unkss in the possession of a holdcr of ~ Pnor Mortgagc. All detailed designauons by the Mortgagor which are acceptcd by the Nortgagec and all agrcemcnts between the Mortgagor s nd ~fortgagee relating to insurance, now existing or hercaftcr made, shall be in writing and shall be a part of this mortgage agreement as tully u ehough set forth verbatim hcrein and shall govern both partics hereto. No lien upon any policy of insurance or upon any rcfund or return premium which may be payable on the cancellation or termmation thereof shall be g~~rn to other than the Mongagceexcept a holder of a Prior •1 ortgagc or by prpperel~dorumept affixcd to such policy and approved by the Mortgagee_ Each policy of insurance;haU have affixcd thereto a Standard New~ York I-lortgagee Clause Without Contribution making all loss or losses under such poticy Qayabk to the Mortg,agee u its ;nterest may appear. !n the event any sum or sums of money becom~ payabk thercunder ttx Mortgagee shall ha~t th~ option to rcceive and .~pply the same on account of the indebtedncss securcd hereby or to permit the Mortgagor to receive and use it or any patt thercof vnthout ~ a i ~~~ng or impairing an~ equity,.lien, or right under and by virtue of this mortgage_ In the event o( tou or physicat damage to the Propeny the ~i ortgagor shall give immediate nouce ihereof by mail to the Mortgagee and the Mongagee may make proof of loss if the same is not promptly n,adc by the Mortgagor. In the e~ent of foreclosurc of this mortgage or other transfer of titk to :he Propeny all right, t~tle and ~ntcrest of the ~1c~rtgagor in and to the insi~rance policies shall pass to the purchaser or grantee. ?. If the !~lortgagor fails to perform his covenants and agrcements contained in this mortgage, or if the Mortgagor fads to perform an~ duty ~~r e~bligatinn arising under a Pnor Mortgage (including the payment of principal and or interest, deposits on account of taxes and insurance prrmwms anJ latc charges even though the holder of the Prior Mortgage has made no demand thereunderand has not thrcatened anv action ~n ~~~nnect~on w•ith the same), or if any action or proceeding is cummenced which materially affects the Mortgagces ~nterests ~n the Propert~•, : n~ luding but not limitcd to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if thcre is an apparent ~ bandonment of the Propcrty, then the Mongagee at its option may pay to the holder ot a Prior Mortgage all or parts of the sums nccessan co hr ~ ng the Pnor ~tortgagr current, may make appearances, may enter upon and securc the Propert}•, ma~• disburse such other wms 1 ~nciud~ng nu~ not limited to the pa}•ment of insurance premiums and taxes), and may take such other action as the Mortgagee reasonabl~ dcems neccssarJ• ~~ r adcis:ihle to protect his interests in the Pro~-erty, all without regard to the ~~alut ot the Propert}•. Am• amounts d~sbursed M the Nortgagee pursuant to the Frovisions of this paragraph, together with interest thereon at the rate of e~ghteen ( I8 {~ per cent per annum shall become ,sdditional indcbtedness of the Mortgagor secured by~ this mortgage. Unlcss ~he Mortgagor and ~tongagcc agree in wnting to somc other terms .~t payment, such amounts shall be payable immediately_ !~othing in this paragraph shall rcqwrc thc Mortgagee to incur am• cxpenu. make am .i~,hurxment or take any action whatevcr. 8. All proceeds of any award or claim for damaga direct or conuqucntial in connection with any condemnation or any othcr taiung by e mi nent domain of the Property or any part thereof, or forconr•eyance in lieu of condemnation or eminent domain arc hercb}• assigned and shall hr paid to the Mortgagce. Unless the Mortgagor and Mortgagee othcrwise agree in writing (a) all proceeds received by the Nortgagee shall be a pplied to the sums securcd by this mortgage without impos~tion of any ptepaymcnt charge~ and (b) the appliption of procecds shall not extend ~~r postpone the due date of installments of principal and intertst or change the amounu thereof. 9. Any forbearance by the Martgagee in exercising any right or remedy hercunder ot otherwist aiforded by applicable bw shall not be a w ai~•er of or preclude the eaercise of such right or remedy. The procurement o( insuranet or the payment ot taaes or other liens or charges or the pa~ ment of sums under a Priar Mongage by the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate the maturity of the ~ndebtedncss secured by this mortgage. All remedies prov~ded in this mongage are dist:nct and cumulative to any other nght or remedy under ehis mortgage or affotded by law or equity and r~ay be exercised concurrently, independentty or suaessi~-ely. 10. To pay all costs charges and expenses includin ttorney's fces (whether or not litigation occun and if it does then thost on appellate as well as trial le~efl and abstrac~ costs reasonably incur or paid at any time by the Mortgagee because oi the failurc on the part of the tit ortgaBor to perfo~ rr~, somply with and abide by all ot his covenants set (orth in this mortgage and %or the tiote and. or Prior Mortgagqs)and the promissory• netNs) `secured thereby. I l. The Mortgagce is a licensed mortgage broker under Chapter 494, Florida Statutes. Hi '+u- ePreNred by Stanley H. Spieler. Attorney. 470p &scayne Bouk~-ard. Miami. Flonda 33137 = }~~..r::_~ .:.~. ~: _ ~.~ ~.~ . . ~~z~ 347 ~~{~~ i~ , __ .~~ _ ~-~-