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Home My WebLink About0326~,n' i6 Sc.c c RECE111E0 i 3•_~~ IN -AYIIEItf Of TAxEi 7~ DUE ON a0S= 'C INTJUi6~dlE ~ERSOcU1L ~I~OPERTY. PUI~SUAIIT TO ~MRPTii 11--1{~ ACTt ~ Mn -iys. RC6F~ POITRK ~~ c~ aniat coRt, st. uce o~. w~ ~~~ ~, S~ i ~ ~.~'~'. ~- , : ~.. _ MORTGAGE madc the day below set fonh between the Mortgagor below namcd and the Mortpjoe. METROPOLITAti MORTG1IGE ('O., a Florida corportation. W H E R E AS, thc Mortgagor is indebted to the Mongagee as evidenced by a certain mon~aae note (Note) oteven dste lrom the Nonga`or to Mongagee as described below. To sccure to the Mortgagee the periormanc~ by the Mortgagor o[ ail his agrcements stt tonh in this Mortpseand tAe \ote, includina the repayment of the indebtedncss evidenced by the Note, interat thereo~, sums advanccd by the Mortpjee ip aotordance with the provisions of chis Mortgage to protect the lien and secunty thercof. and intercst thercon, the Mongagor does hertby mottaaEe. 6rant arid convcy to the `longagee the real propeny described below toge~htr with (a) all easements, rights, tenecneAts. hcredita~r:tats, rents, iuues aad pr~u appurtcnant thereto; (b) all buildings, structura and ~mprovements now or hercaiter locattd upoa said tal property, (c) all of the followin6 presently attached thcreto: pipes, plumbing fixtures and e4uipmenc, ekctriul co~duit and wintsa and fixtutes, heauns and cooling aad a~r rondit~oning eyu~pment and fixtura. sprinkling and irngauon equipment and fixtura, pumps, feuoes and awainat; and (d) nnge, or•enynd rrfngerato~ presently upon the premises; all of the forcgoing arc here~~ rekrred to u the "Property' To 6tve sad to Ao{d the same unto t6e ~longagee, us successors and assigns in fee simpk. l~he l~lurtgagor convenants that he is lawtully scized of the estate hercby conveyed and be has the riaht to moA6agt, grant and com~ey the F'rapcm•, that the Property is unencumbercd cxcept as may be betow notcd, and that the Mortaaaor will wamet and defend tht titk to the Propeny ag~inst all cla~ms and demands. And the Mortgagor covenants and agrces as follows: I. To promptly pay whcn due the principal o( and interest on the indebtedncss evider~ced by thc Note and prcpayment and lace charges as providcd therein. 2. To pay all taxa, asxssments, chargcs, fines and other impositions of governmenul authority apiast t!x Property within sixty (60) days of when due or sixty (60) days prior to the same becoming delinquent, whichever may first oocur. 3. tf it is notai bciow ihat Ihis is a sccond or other subordinate raniced mortgage, then to promptiypay when duc principal aad interest ~~w ing under mortgagc~s) of hightr priority ("Prior Mortgage~s)"), to promptly pay to the holder(s) o[ Prior MoRga~e(s) sumsduc on accouat of tn~ccs and insurance premiums as may be provided tor under the pro~isions of the Prior Mortp6e(s). aad to otherwise fully, promptly and ~ umpletel~• kccp and perform all ot the promises and convcnants of the mortgagor under Prior Mortgaae(s)aad tbe promissory note(s) secured t hereby; all of the foregoing w~ithout rcgard to any v-ai~•ers, extensions or indulgences granted by the holder(s) of Priot Mortgaae(s) unkss wzth thc priur consent of the Mongagce. 4. \ot to appl}~ to, requat of, rcceive or accept (rom any holder of any Pnor Mongage any money. luuds or thiaas of value v-h~ch w•ould, m~ght or could be considered as an advance secured by the lien of such Prior Mortgage. S. \ot to commit w•aste or permit or suffer thc impairment or deterioration of the Propetty; not to ercet or permit to be erccted any oew hu~ldings on the Propert~ or any structural altcrations to eaisting buildings without the Mortpsee's prior written consent; to comply with all ~ubd~vision restnctions and zoning and other rcgulatory laws and ordinances at(ccting the Property. Uthe Propert~r is a coadominium unit, the ~tongagor shall,promptly and complctely perform all of his obligations under the declaration of eoodominium and che eondommium .tssoc~ation's articles of incorportation, by-laws and rules and rcgulations and other constituent eondominium documtats including but not ! ~ m ited to the payment of all regufar and spccial asscssments, the liens for which against the Property miaht ortould havt priority over the lien of c h is mongagc. If the ProQerty ~s part of a planncd unit development, the Mortgagor shall prompltycontply ~rith all provisions of tbe declaration uf covenants and ~estrict~ons cstabl~shing the same and shall promptly fulfill atl his obligations under tbeconstituent documents of ihe planaed umt decelopment including the homeowners auociation s or ~ts equrvaknt's aRicles and by-laws aad s6aA prompqy pay all :ssessments or charges of cvery• nature (no matter how designated) the lien for which against the Property miglu or oauld l~ave priority over tlx licn ot this moYtgage. 6. To keep all the Property insurcd as may be rcquired from time to timc by tlrc Mortgasee aaainst loss by fire, windstorm, hazards. casualtia and contingencies for such periods and !or not {ess than such amounts as may be reasonably roquirod by t6e Mortaagoe and to pay premptl}~w•hendueall prcmiumsforsuchinsurance.TheMongagoragrcestodeGvertenewalorrcplaeemeatpoliciesorartifiatathereforto ~ he '.Nongagee at least fiftecn (1 S) days prior to the expiration or ann~versarydate of the existing poliexs. The amouats o( iasunnce requircd by ihc Mortgagce shall be minimum amounts for ahich said insurance shall be written and it shall be ineumbent upon the MaRpaorto maintain such additional msurana as may be necessary to mect and comply lully with aU co-insuranct rcquirementscoatained in said policies to the end that the ~lortgagor is not a oo-msurer thereundu. Insuranee may be written by a compzny or companies app~ovod by t6e Mortgagcr (vrh:ch approval shall not bc unreasonabty ivithheld) and all policus and rcntwals shap be held by the Mortpaet unkss in the possession of a holder o( a Prior Mongage. All dctailcd dcs~gnations by the Mortgagor which are acapted by the Mortgaaoe and all apeements between t1x Mortgaaor a nd M ortgagee relating to insurance, now existing or hercafter made, shall be m wnting and shall be a pirt of this mortaa~e asreement u fuily u though sct forth verbatim herein and shall govern both parties hcreto. No lien upon any poliry of insunnoe or upoo any refund or rrtum premium w hich may be payable on the cancellation or t-_tmination thereof shall be givrn to other than the Mortp6oe exctpt a holder of a Prior ~1 ortgage or by propercndorsement aifixcd to such policy and approved by the Mortgagee_ Each po6ry of insuranoe shall have affixed thereto a tieandard \ew York Mortgagee Clause Without Contnbution making aU loss or loues undet such polity Qayabk to the Mortsagoe u its ~nterest may appear. In the event any sum or sums of money become piyabk thereunder tbe Mort~aaee shaL 6ave ibe option to receive and apply the samc on account of the indebtednas secured hereby or to permit the Mong~gor to ranve aod ux it or any part thereoi vrithout w ai~~ing or impainng any equity, lien, or right under and by virtue of this mortgage. ln the event of lou or p6ysical damaae to tlx Property the ~1 ortgagor shall g~ve immediatc notice thtrcof by mail to the Mortgaget and the Mort6agee may make proof of loss if the same ~s not promptly madc b~• the !1lortgagor. In the event of forcctosure of this mortgage or other tnnsfet of titk to the Property ali nght, titk and interat of thc ~tartgagor ~n and to the insurance policies shall pass to the purchaser or gnntee. 7. If the `lortgagor fails to perform his covenants and agreemer~u conuined in this mortgagt, or if the Mortpgor fails to perform an} dut~ ~~r ohligation ansing under a Pnor Mortgage (inctuding the payment of principal and ~ or interest. deposits on aceount of uses and insunnct ~ rr miums and latc charges even though the holder o( the Prior Mortgage has made no demand thenunder and 6as aot thrqtcncd am• aaion in ~~~nnccuon K~ith thc same), or it any action or proceeding is commenced which materially affects the Mortpaee's intemts ia the Property. : nclud~ng but not limited to eminent domain or code enforcement or arrangements iovohtiag a banlwpt or dooedent, or J therc is an apparcnt e bandonment of thc Property, then the Mongagee at its option may pay to the holder of a Prior Mortgaae all or paru otthe sums necessan to hnng the I'nur ~lortgage current, may make appearances, may enter upon and securc tht Property, rtuy dis~urse such other sums tinciud~ng hut nut I~mitrd to the payment ot insuranct prem~ums and taxes-, and may take such otheractionu the Mortgaaee rcuonabl~ deems necessan +~r adc~s:~hle to protect his intercsts in the Property, all without regard to the value of the Property_ Any amounts dubursed bc the ifortgagee ~ursuant to the provisions of this paragraph, together with intercst thercon at the rate of e~ght~en (18Y) per cent per annum shall become .+Jditional indebtednessofthe Mortgagorsecurcd bythismortgage. Unlessthc Mortgagorand Mortgageragrceinwritingtosomeotherterms ~~t pa~~ment, such amounts shall be payabk immediately. ~'othing in this paragraph shall requirc the Mortgagee to incur anyexpense, maice am ~f~sbursement or take any action whatever. R. All proceeds of any award or claim for damages direct or conxquential in conntction with any condemnadon or any othet ainng by- e m~ nent domai n of the Property or any part thereof, or for conveyance ~n lieu of condemnation or eminent domain arc hercby ass~gned and shall ;,e pa~d to the Mortgagee. Unless the Mortgagor and Mortgaga otherwise agrce in writing (a) all procceds rcceived 'oy the tifortgagee shall be a pplied to the sums securcd by this mortgage without impos~tion of any prcpayment charge. and (b) tbe appliution of Qroaeds shaU noc extcnd or postpone the due daee of installmena of principal and interat or change the amounts tbenoL 9. Any forbcarance by the Mongaga in exercising any nght or remedy bercundcr or otlxrw~ise afforded by appliubk law shall not be a w aiver of or preclude the exercise of such right or remedy. The procuremeot of iosunna or the Qayment o! taaa or other 4ens or charges or the payment of sums under a Prior Mortgage by the Mortgagee shaU not be a waivtr of the Mortpaoe's ng6t to accsknu the maturity ot the ~ ndcbtednas secured by this mortgage. All remedies provided in this mortgage arc distinct aad eumulative to any other riaht or remedy under this mortgage or afforde4 by law or equity and may be exercised concurtently, independently or sucoessively. 10. To pay aU costs charges and expenses including attorne}rs fees (whether or not Gtigatioo oceun and if it doa then those on appellate as well as trial le~elj and abstract costs rcasonably incurrcd or paid at any time by the Mortga~ee bccause of the failure on the part o( the !~lortgagor to perf~rnfi, comply with and abide by all of his covenants set torth in this mortgaae aod/ or the Note and; or Prior Mortgage(s) and thc promissory note(s) ucured thercby. , ~ ~ I 1. The Mortgagce is a lic.nscd mortgage broker under Chapter 494, Florida Sututes. F:'; ~,1~. •J~ i'~~.i~' ~ rti~ :~u- ~'Preparcd by Stanley H. Spieler, A~torney. 4700 &scayne Boukvard, M~ami. Flonda 3313? ~ ~ -. _..::;:~