HomeMy WebLinkAbout13706. Mort=a~'s RIt~1 1o M~ke C,e~Wa PaYesiwb. In Ihc event MonEaeo~ fails ~o pay or disclw~e the uaa. IiaSiGties. or encumeianoes. ~x f~ils to
kap ~he Mort~ed Ptoperly insured or to deliver ~he policies. prcmiums paid. a/ails to tepair ~he Monµ~ed P~operty as he~cia a~reed, Mwt~atee may
at its option paY ot dixAarae the taxa, lubilitia. aod encvmbranas or any put ~hereof. to procvre ~nd p~y (a :uch u~surar-ce or to mate and pay tor
such repain. Matsaja :1-all have no oWi~ation on i~s put to daernune the validity or oecess~ty of any p~ymcnt thereo( and ~ny sucA payment shall na
waive or afloct aoy opian, lien~puity cr ri~ht o( Mon~ce unde~ or by vinue of this Mon~e. The full smount of uch a~ e~cry sucA payment shall ~e
immcJia~ely due am1 pa~tibk and shall Dear ~n~erat (com tAe dile thcreo( unUl p+~d st lhe rate of E~gh~an Pc~ark ( Id~iie) per annum, simpk inleiest~ and tu-
geihet w•ilh sucA intcresl, sFuli be securcd by ~he licn ot this MoA6aaf. Nothi~g htrc-n contained shatl be construed as requirina Mungaeee to ad~ance o~
rxpend monies tor any a( the purposes mcw~oncd ia this pa~agraph.
7. hyo~l of Exyewsn. Mort=aaot shall pay dl Ihe costs, cAar~es and expeaus, incluQ~na reaso~-abk attaney's (as, disbursements and cost of
absuacts of ti~le, ~ncurred or paiA at any time by Monpste due te the fulure on tAe part ot Mwtaasot promptly and fully Io perform, comply with and
abide by esch and evety stipulation, sarermen~, conditio~ and covcnant of the Nae ~nd this Mort~aae. Such costs. chsr6es and cxpenses, tAall be immafi-
~crl~ duc and payabk, whether o~ not there be aotice, dcmand. aucmpt to colkct or suit pending. ~nd shall bear interc~t at ~he ratc o( E~6hlcen Pttanl ( I8'j~)
per annum, simpk iMeres~, until ~+aid. All such costt, char6es and eapensa so ineurred or paid, ~oaether with such inurat, shall Ae secured by the liea of
ihis Mortgaae and aey other inst~uaxnt sau~ing the Note.
a. AddlUosd Doc~raenb. A~ all times ~his Morttage u in effal. upon Mon6aaee's reQuesl, Mor~aasor shall make, execute and detiver or caux to be
made, executed and dclivered ~o Morlsaga and, wAere appropria~t, sha'~ cauu to be recorded or filod and thereafter to be ~r-recardetf or refilcd at such
time and in such places u shall be deemed desirable by Monpaa any and all such funlxr monpaa. ins~ruments of f~nher usu~ana, certificates and
othet documenls u Mataaaa may consider oaessary or desirable in order to effectwte, complete, enlar6e~ perfect, or to continut and preurve the
obligations of Mwtaagor under the Note and this Mortaaae and all other instrumcros securing ~he Note. and ~he lirn of this Mo~~gage ss a firs~ :nd prior
lien upon all ~he Maltaaed Propeny~ subject only to Pmnitted Liens. Upon any failure by Mort`aaor ~o do so, Mortgaaa !nay make, exau:e, ~ecord,
fde, re-reeord or refik any and all such mortgaga, instruments, etrtifieates and documents fot and in tht name of Mortga6or. Mot~sagor Aereby irre~oca-
bly appoinis Mo-taagte asci: and attorney-in-fact at Mortaaaor to do atl thiogs nttesury lo eifatwle or usu~e compliance yi~h this paragraph.
9. Eveal ot Defaolt. Anv one oi ~he folla+ing shall rnns~itute an event ot default:
(a) Fsilurc by Mortgaaor to pay, u and when due and payable, any insuitmen:s of principal or int~rat dw under ~hc Note, or any dep:~•~ts fur taxa
1I16 iSf~SSfl1Q111S O( IRTUf3Mt pfMllUfiLt dUt I1tflU1ldtf, or any other sumc ~o be paid by Mortgaaor hereunder or under any o~her ins~~um~nt sccsring the Note.
(b) Fa;lure by Mor~ga6cK to duly kap, perfo:m and oburve any other eovenanl. eoadition or aareemaet in the Nae, Ihis Mo~tgage, ar.y othcr instru-
mcnt seturing tbe Note or any ether instrument collateral tu the Note or eaecuted in connection with the sums xcu~~d hereby for a paiod of 10 dzys after
M.oct~ee ~ives wriuen notice speeifyin6lbe brexh.
(c) If either Mortgagor or any suarantor or endona of the Nae_ f) fila a voluntary petition i~ bankruptcy, or (ii) is adjudiqted a ~:nkrup~ or insd-
ven1; or (iii) fiks any pe~ition or answer seeking or acqui~cing in any reliet for itself under any law relating ~o bankruptcy, insolvcncy or o~hcr :el~ef (c~r
dcbtors, or (iv) seeks or eonseats to ot acquiaca irt lhe appointmrnt of any trustct, teeeiver. master or I~quidator o( itsclf or o( all or any ~ubitantial pa~t
ot the Mortgaaed Propertr, or (v) mates any atneral assianmtat for the benefit of creditots, or (vi) makes any aAmission in writing ot iis inability to par
us dcbts Eeoeally u they become due; or (vii) a eourt of tompetent jurisdiuion enters an ordcr. jud6cment or decree apFroving a pct~twv filed asaimt
Mort~or or aay tuaantor or endorser of the Note, seeking any relie( under any presrnt or tuture fedcral, .ute, or otAer statWe, law or rcgulation relat-
ing to bankruptcy, insolvency or other relitf for debtors, rrhich wder. judsmrnt or decree temains unv:utcd and unstayed for an a~regaie of ~ixty ((O)
3ays w~hNAtr or not consccutive from tfie date of cmry thertof; or (viii) any trustce. reeeiver o~ liQuidator of Morteagor ot all or any subs~antial part of
thc Mort~ased Property is appointed wi~hout the prior writtrn consent ot Mortsaaee, which sppointmem shall remain unvau~cd and unstayed for an
agaregate oi sizry (6C~) days M hethct or na consavtive.
(ri) Any brqch of any wrarranty or material untrutA of any represenution of Mottaagor conu~ncd in ~he Note, thu Mortgage or any other instrument
securing the Note.
!0. Ac+eelersUoa. If an evrnt of default shall have occuried, Mortgagee may dcclue thc outsunding principal :mount of the Note and the interat
accrued thereon, and all o~her sums secured hereby, to be due and payable immed'utely. Upon suc:i decfaration such principal znd intc~est and other sums
shall immodiately be due and payable without demand or notice.
I 1 Nemtdits a:ter Default. Upon an t~ent of de(ault, Mortgagte may procenl by suit or w~t~ at law or in eyuitv nr h}• an~• othrr appropriatc procecd~ng or
re:ned~~ to: (a)enforce payment of tF~e \otc or the performance o( any term hereof or any other ngh~; f A)forccloar ~hi~ Mon~ap.e aaf to scll, as an entircty or in
~r, arate lots or pareels, the Mortgaged Prope~t~ Undcr the Judgement or dreree of acoun or court• of compete:~~ jun~d~cuon: (c) collecl aN rer.ts, asue~, profi~s.
*r~enue, incnme and olher btnefiu from tht Mortgaged Propert~; (d)appoint a recei~tr to n~tet u~n a~d taAc pm.e~.ion ef [h~ Alurtgagrd Properl}~ and to
.~~Il~ce all rcnts, issuts. proGts, retenue, inc~+me, And other brnefils lhereo( and apply the same a+a cc,ur~ ma~~ ducc~ and cuch rc~r~Y.= ~i,:+il f~avc ali nghts and
, owrrs permittcd undc~ la~c; and (e) pursue an~~ other remedy ava~laale to it indud~ng, but not limited to tel.u~g rus~es~~on of tt~c \tortgagrJ I'rupert~ w sthout
r,:,iice or h~aring ~o Alortga¢or. Alorigagee shall !ake aclion ruher br such proceedings or by the exerciu ot n~ puwer vcith re.pect ~oenuy or ~akmg paxr»ion.
„r bnth, at Mongagct may determine. ' .
12. No Wtlrer. No delay or omission of Mortgagee or of any holder of the Nde to exacise any right, po+»r or remedy accruina upon any event o: de-
fault shall exhaust or impair any such riaAt. power or remedy or shall be constrercd to rraive any event ef default or to consti~ute uquiesecnct therein.
13_ Noe-F.xclusln Reieedtes. No right power or remedy conferred upon or resmed to Mori~ec by ~hc Noee, this Mortaa6e or any other instrumcnt
secvring the Note is eaclusive of any other right, power or rer,xdy, but ach and every such right, power and :emedy shall be cumulative and concurrent
and shall be in addition to any othe~ right, power and remcdy siven Aercunder or under the tvote or any othcr instrumrnt securinE the Note. now or hert-
s fter aristins at law, in equity or by statute.
14. Saeeesaon a~d Assi~ws Bound. Whenever ax of the putics herdo is aamed or referred to hertin, ~he Acirs, successors and assians of'such party
shall be included and all covenants and agreements cor.iaincd in this Mongage, by a on behalf of Mortgagor or Monaaace, shall Aind and inure to the
bcnefits of lheir rapectifY hcirs, saceasors and usi6ns, whether or not so ezprased.
1 S. M1sce11Rneoes. In the evrnt that any of the covemnts, agreements, trnns or provisions conui~rod in the tlote, this Mon~a6e or ~ny other instrumcnt
ucuring IAe Note shaU be invalid, illegal or unenformbk in any rapecl, the validity of the rertuininR covenants, a6reemcros, ~crms a provisions contaiu-
ed herein and in Ihe Note and any other instrumrnt securing tAe I~we shall Dt in no May ai(tctod. prejudiced or distutbed thercby.
16. Attemer's feea. Thc term"attorney's fees"u used in this Mort~ge includes any and al! kEal fees of whatever nature includina, but not limitcd to,
fcrs raulting from any appcal of an intalocutory wder or finel judsment or any ather appellate proc~eeding arisina out of any litiaation.
17. No Trsasier. It is urtderstood and aareed by Mmtgagor ~hat u pan of t6e induoement to Mortgaga to make the Iwn evidenced by ~he Nde.
Mortaa~ee hss considercd snd relied on tl~e aedit ronhiness and rcliability of Mortp6ot. Mort~a~or eovenants tnd asrets not to sell. convey. transfcr.
leasc or fanhn encumber :n~r interest in or any put of the Mortaa6od Property without the prior writ[rn tonsest of Mortaa6ee. and any such sale, eonvey-
~nce, transfer, lease or encumbranee made withoot blortaaaa's priot writtrn consrnt ~hall be void. If any pason should oDuin sn interat in all or any
p¢rt o[ the Mottaa6ed Praperty pursuant to Ihe eaavtion or enforcement of any lien, saurity intuest or olha riaht. wficthu superior, oqual or subotdin-
ate to this Mon6age or the lien hereot, such event shall be deemeA to be a transkr Dy Mortpgor and ~n evrnt of default hereunder.
I8. Cw~ges to Morip~e. All changes, alterations, drktions ur additions to tht substance of any puaaraph in this Mortpat which Aare been agreed to
bctween Mortsa~or and Morttaaet have been initiakd by Mortsa~or as additional proot ot Mon~or's eonsent_
1N WITNESS WHEREOF, the Mortgaaor~has executed ~his ~nstrument the day and ypr above first written.
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W~tness I~g~ .` ~~ i.! , i~ ~ 1; Si6natute
S7ATF OF Fl.ORIDA ~~~~A ('
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COUPfTY OF~,!`~~I~ a.(, J~ ;frl ~~_.ii"`. ..v: _. r . . ~ .
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The foresana irtttn~mrnt w/u acknowkds~before mt this ``~`,•i dsy of ~~ '- :, t~l~. by Shi rl eu .+li 11s ~~jer1 i}
~~ ~. - , .~~i (MOr~gagor's na~s)
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f; k/~ Sh i r 1 ey Mi 1 l s ~d James Wi I 1~ am Adderl y~', -, ~,~ ~~~ ~• ~
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~' t_. ,. ~,.:. i;, •{ :, ~ Publie. Sute of Florida at Lu
Prepared by: Jcnelle ,+fanqione '~~~`4 v ~,;'~k ~ ~~
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510~ W. Kennedy P,lvd. , 2n~1 floor, •.,''-- ~~~y c'' J ~' ~`
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