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kJGiN PURP,RS 3S
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MORTGAGE made the day below set (orth betwcen thc Mortgagor below• named and the Mongagee, METROPOLITAN MORTGAGE
CO., a Florida corportation.
W HEREAS, the Mortgago~ ~s indebtcd to the Mortgagee as evidenced by a certam mortgage note (Note) of even date from the Mortgagor
to Mortgagee as desc~ibed below.
To secure to the Mongagee the performance by the Mortgagor oi all his agreemcnts set (onh in this Mongage and the Note, includingthe
repayment of the indebtedn~ss cvidenced by th~ Note, intorest thcreon, sums advanccd by the Mortgagec in accordance with thc p~ovis~ons of
this Mortgage to protect the lien and secunty thercof, and interest thereon, the 1do~tgagor does hcreby mortgage, grant and convey to the
Mortgagee the real property dcscribed beloa~ toge~her with (a) all easements, rights, tenements, hercditamcnts, rents, issua and profts
appunenant the~eto; (b) all ~uild~ngs, structures and ~mprovcmcnts now or hereafter located upon said real property. (c) all of the followrog
presently attachcd thereto: pipes, plumbing fixtures and equipmc~t, electrical conduit and winng and Cxtures, htating and cooling and a~r
~^ A~•=^-=-- -zu= :~ :: ~:u' :`:x:u :s, s:i~x::n ar.3 irr atwr~ t'~i u~rnt and i~xtutes, um s iences and awn~n and (d) ran e oven aod
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refrigerator ~+resently upon the premises: a!1 of the [oregoing are herein tefe~red to as the "Proptrly." To have and to hold the same unto the
~lortgagee, us succcssan and assig~s in fa s~mple.
The Mortgagor convenants that ho is law•(ully uized of th~ estate hereby convey~ed and he has the ~ight to mortgage, grant and convey the
Property. that the Propeny is unencumbered except as ma~ be below noted, and th~t the Mortgagor wiil warrant and defend the title to the
Propeny against all claims and demands.
And the Mortgagor co~•enants and agrees as (ollows: .
I. To promptly pa~ w•hen due the principal o( and interest on the ~ndebtedness e~•~dcnced b} the h'ott and prcpayment and late charges as
provided therein.
2. To pay al! taxcs, asstssmtnts, charges, fin~s and othct impositions of governmental authority against the Propcrty within sizty (60) days
of when due or sixty (60) days Prior to thc same becoming dclinquent, whichevcr may fi~st occur_
3. If it is noted bclow that this ~s a second or other subordinate ranked mortgage, thcn to promptly pay when dut principal and interest
owing undtr mongagc(s) of higher priority ("Prior Mortgagc(s)"), to promptly pay to the holder(s) of Prior Nortgage(s) sums due on account of
caxcs and insurance premi~ms as may b~ provided for under the Qrovisions o! thc Prior Mortgage(s), and to otherwiu fully, promptly and
complctel~ keep and perform ali of the promises and convenants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
ihe~eby; all ot the forcgoing withaut rcgard to any W~aivers, oxtensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the prior consent of the Mortgagee.
4. 1ot to appl~• to, request of, recei~~e or accept from any holder o! any Pnor !~lortgage any mone~•, funds or things of value which would,
nught or coutd be consid~red as an ad~•ance sccured A~~ the lien of such Prior Mortgage.
S. tiot to commit wastc or perm~t or suffer thr impairment or deterioration of the Property; not to ercct or permit to be erected any new
nu~ldings on thc Propcny or an}~ structural alterations to eaisting buildings w~thout the Mortgagee i prior written conscnt; to camply wrth all
subd~rision restrict~ons and zoning and other rcgulatory law~s and ordinances af(ec~ing the Propert~•_ If the Property is a condominium umt, the
~tortgagor shall,promptl~ and compfet~{y perform all of his obligations under the declaration of condomm~um and the condominium
association's art~cics of incorportation, by-laws and rula and rcgulat~ons and other cortstituent condominium documents including but not
limitcd to the payment of all regular and spcc~al asussments, the liens for which against tht Property might or could havc priority over the lien of
e h~s mortg:-ge. If the ProQerty is part oi a p{anned unit de~~elopment, the yf ortgagor shali promplty comply with a!1 ptovis~ons of thc declaration
~~f co~~enants and restnct~ons establishing the same and shall promptly fulfill all his obligat~ons under the constituent documents af tfie plaaned
unn deveiopment including the homeowners association's or its equivalent's articles and by-laws and shall promptly pay all assessments or
charges of cvery nature (no mauer how designated- the lien for which against thc Property might or could have pnonty over the lien ot this
mortgage.
6. To kcep all the Propeny ~nsurcd as ma}• be required from time to time by the Mortgagee against loss by fire, windstorm, hazards,
casualtia and conungencics for such pcriods and for not las than such amounts as may be rcasonably required by tht Mortgagce and to pay
~romp[ly w hrn due all prcm~ums for such insurance. The Mongagor agrees to dcliver renewat or replacement polines or artificata tfierefor to
ihe ~iortgagce at Icast 6lteen (1 S) days prior to the expirauon or anniversary date of the eaisiing pol~cies. The amounts otinsurancs rcquircd by
thc Mortgagee shatl be minimum a~t-ounts for w~hicfi sa~d insurance shatl be wntten and it shall bt incumbent upon the Mortgagor to maintain
such additional insurance as may be n~cessan• to meet and comply fully with all co-insurance requirementsconta~ned in said policics to thc end
~hae the Mongagor u not a co-~nsurer thercunder. Insurance may be w~ritten by a compam• or compan~cs approved by the Mortgagee (which
~ ppro~•al shal! not bc unrcasonabl~• withheld- and al{ potuies and renewals shail be hcld b~ the Mortgaget unlcss in the possessioa of a hulder of
e Prior Mortgage. All Jctailed designations b~• the ~tortgagor which are accepted by~ the !Nortgagee and all agreements bttween the Mortgagor
e nd Morigagce relaung to msurance. now• exisung nr hereaftet made, shall bt in w~ritmg and shal! be a paR of this murtgage agreemtnt as fully~ as
:hough set forth ccrbat~m herein and shall gocern both partties heteto. tio lien upon an} polic~ of insurance or upon an}~ refund or return
~remium wh~ch ma} be ~a~•able on the cance}lation or term~nation thereot shall be given to other than the Mortgagee excepta hotderola Pnor
~1 ~ngage or b} proper endorsement afri~ed to such polic}~ and approved b~• the Mortgagee. Each pol~cy o! insurance shall hace affixed thereto a
>eandard ~ew• York Mortgagcc Claox K'nhout Contribution mak~ng a{I loss or losxs undcr such polic~• pa}~abic to the Mongagee as its
.ncerest ma~ appear. In thz e~•ent an~• sum or sums of mone~• become payable thercunder the Mongagee shall have the option to receive and
~pp1}~ the sameon account of the mdebtedn~ss securcd hereby or to p~rmit the Mortgagor to receive and ux it or any par~ th~rcof without
•~en~ing or ~mpainng am• cqwty, licn. or nght under and by ~irtue ot this mongage. ln the cvent of loss or physical damage to the Propertythe
~1 ortgaRor shall gice ~mmep~ate nouce therco! b~• ma~l to thz ~tor:gagee and the Mortgagee may make proof of loss d the same ~s not promptty
•r edc M~ the ~lortgagar. !n th~ tvem of foreclosure ai this mortgage or other transfer of t~de to the Propert}~ ali nght, tule and ~nterest of th~
~1:~rtgagor ~n and to the insurance pol~c~es shall pass to the purehaser or grantee.
7 If thc tilortgagor fails to perform h~s co~•enants and agreements contained in this mongage, or i: the 4tongagor fa~ts to pert~rm an}• duty
,~r abi~gation ansing under a Prior ,lortgage (includmg the payment of principal and or intesest, deposits on account ot taxes and insurance
;:~ m~ums and latc charges e~~en though thc hulder oi the Prior Mongag~ ha~ made no demand thcreunder and has no! threatened an~ acuon ~n
.~nnecuon with the samey, or if any action or procced~ng is commenced which matenally~ aflects the Mongagee's intcrests -n the Propenp.
.nc:uding but not limited to eminent domain or codc enforcement or arrangcments involving a bankrupt or dccedent, or d there ~san apparcnt
~ handonment of the Property, then the 4lortgagec at its opt~on ma~ pay to the hoSder of a Pnor Mortgage all or parts ot the sums necessary to
~~~r~g the Pnur ~1c,rtgage rurrent, ma~~ make appearanca, mat• ente~ upon and securc the Propert}•, may d-sburse such othei sums (~ncluding
~ut out lim~trd t~ the pa} ment ot insurance premiums and taxes), and ma~• tal:e such otheraction as the 1lortgagec reasonabt~ dcems necessary
~r ed~ isable tu protect hu intecests ~n tht Propert~~, al! w•~tfiout regard to the vafue of the Propem. Am amounts d~sburscd b~ ihe ~lortgagee
~ursuant to the pro~isiuns of this paragraph, togetfier w~th interest th:reon at the rate of r~ghtern ~ 12c~~~1 per cent per annum shall become
sdd-uonal ~ndehtedness of the ~lortgagor secured b~• thi; mortgage. l'nless the ~lortgagor .,nd ~lortgagee agree in wriung to some other terms
.~f Pa~~ment. ~uch amounts shall be pa~ahle ~mmediatel}•. \othing ~n thtis patagraph shall reyu~re the ~lortgagee to incur any expense, make an~
~i~>bursement or take am• act~on w~hate~~er.
8. All procceds of any aw•ard or claim for damages duect or consequential in connection with any condemnation or any other tak~ng b}~
eminent domain of the Property or any part thereof, ot forcomt~ance in fieu of condemnation or eminent doma~n are hereb} assigned and shall
he paid to the Nortgaget. Unless the Mortgagor and yfortgagee otherv-•ise agree in wnting (a) a(t prnceeds received b~ the titortgagee shall be
a ppl~ed to thc sums secured by this mortgage w~thout impos~tion of any prcpayment charge, and (b) the application of procecds shall not extend
~~~~ postpone the due datc ot instaltments ot princ~pa3 and interest or thange the amounts thereo~.
9 Am~ (orbearance b~~ the Mortgagec in eaercis~ng any right or remedy hereunder or othervrtise affordcd by appticabte law shall not be a
w aiver o( or preclude the exercise of such nght or remedy. The procurement of insurance or the pa}•ment of taxes or other tiens or charges or the
pa~ ment of sums under a Prior ~+lortgage b~~ the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate tht maturity of the
; ndcbtcdness secured by this mongage. Aq remed~es provided in this mongage are distinct and cumu{ative to any other ngfit or remedy under
~h~s mortgage or aftorded by law or equity and may he exerciud concurrently, independently or suceessi~•ely.
i0. To pay a11 costs charges and expenses including attorney's fees (whether or not litigation occun and if it does then those on appellate as
•~ell as tna! levcll and abstract costs reasonably incurred or pa~d at any tim~ by tht Mortgaget because of the failure on the part of the
~1 ortgagor to pcrto-m, compty with ar.d abidc by all of h~s covcnants se~ forth in this mortgage and or the tiote and ar Prior Mortgage(s) and
ehc prom~sson n~tels) secured thereby.
I!. Thc tilorsgagee is a licensed raortpage 1+roker under Chapter 494. Flonda Statutes
H: : K~, ~Prcparcd by Stanky il. Spielcr, Attorne}•, 4?00 Bucayne Boult~~ard, ~1iam~. Flonda 33f3?
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