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HomeMy WebLinkAbout0612~~~s 3,b7S : oo ~ I~c4tvEe ~ ~-_...,~ -- ~N r~r,r~Nt ot Tu~i ' Clli 0'1 CIR=i 'C' ~il'`~ atE Pj._IS"Oi N]1.~~• Si~`rt~,' PU:.S+lA1~T t0 Gi1: Y RYG'd F I(.~ ~~7`t C L f R R q~C1tIT C01RT. ST. WGIE C0. M. gII~ . ~, ~~ MORTGAGE made the day selow ut fonh between the Mortgago~ below named and the Mottgagee, METROPOLITAI~ MORTGAGE CO., a Florida corportation. _ __ _ -- - ------- - - ---- - _ --- _ _.. AS, the Mo~tgagor is indebted to the Mortgagee as evidenced by a cenain mortgage note (Note) of even date from Ihe Mongagor ~o Mortgagce as described below. . To securc to the Mortgagee the performancc by the Mortgagor of all his agreements set torth in this Mortgage and the Note, including thc repayment of the indebtedneu evidenced by the Note. i~terest therco~. sums advanccd by the Mortgagee in accorda~ce with the provisions of this Mongage to protect the lien and security thercof. and interest thercon. the Mortgagor does hereby moctgage. gra~t and convey to the Mongagee the real p~openy described below toge~her with (a) all easemtnts. rights, teneme~ts. hercditamonts, rents. issues and profits appune~ant thereto; (b) all buildings. st~uctures and improvements now or hereafter located upon uid rcal propeny, (c) all of the following presently attached thereto: pipes, plumbing fiatura and e~uipment, electrical conduit and wiring a~d fixtura, heating and cooling and ai~ conditiomng equipment and f xtures, sprinkl~ng and irrigat~on equipment and fixtura. pumps. fences and awnings; and (d) range, oven and ref~igerator Presently upon the premises; all of the forcgoing arc here~n referrcd to as Ihe °Property." To have and to hold the same unto the Mortgage~, its successors and assigns in fce simple. The Mortgagor convenants that he is law[ully seized of the cstate hereby conveyed and he has the right to mongage. grant and convey the Properfy; thatthrProperty is unencumbered_exctpl a; may be below noted, and that the Mongagor w~ll wanaot and defend the tiUe to the Property against all claims and demands. And the Mongagor covenants and agrees as follows: 1_ To promptly pay when due the principal of and interest on the indebted~ess evidenced by th~ Note and prcpayment and latecharga as provided therein. 2. To pay all uxa, assessments, charga, fin~s and other impositions otgovernmental authority against the Propcrty within sixty (60) days of whe~ due or sixty (60) days pnor to the same becoming delmquent, whichever may first occur. 3. I( it is noted below that this is a second or other subordinate ranlced n~ortgage. then to promptly pay when due principal and intercst uw~ng under mongage(s) of higher priority ("Prior Mortgagc(s)"), to promptly pay to the holder(s) of Prior Mortgage(s) sums due on account of taxes and insurancx premiums as may be providcd for under the provisions of the Prior Mortgage(s), and to othtrw~se (ully, promptly and completNy Iceep and perform all of the promixs and convenants of the mortgagor under Prior Mongage(s) and the promissory note(s) secured thereby; all o( the forcgoing without regard to any waivers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with thc prior consent oi the Mongagee. 4. Not to apply to, request of, receive or accept from any holder of any Prior Alortgage any money, funds or things of value whicK would, might or could be considered as an advance secured by the lien of such Prior Mortgage. S. Not to commit waste or permit or suffer thc impairment or deterioration of the Property; not to erect or permit to be erected any new buildings on the Property or any structural alterations to existing buildings without ihe l~tortgagee's prior written consent to comply with all subdivision restrictions and zomng and othcr regulatory laws a~d ordinances affecting the Property_ If the Propeny is a condominium unit, the ~longagor shall,promptl}• and completely pcrform all of his obligations undcr the dccla~ation of condominium arxl the condominium assoc~ation's articles of incorportation, by-laws and rules and regulations and oth~r constituent condominium documetus including but not I~mited to the payment of all regular and spccial asscssments, the liens for which aga~nst the Property might or could have priority over the lien of chis mortgage. If the ProQerty is pan of a planned unit development, the Mortgagor shall promplty comply with all provisions of the declaration of covenants and rcstrictions establishing the same and shall promptly fulfill all his obligations under the constituent dceuments of the plann~d unit development including the homeowners association's or its equivalent's articles and by-laws and shaU promptly pay all assessments or charges of every nature (no matter how designated) the lien for which against the Property might or tould have priority over the lien o( this mortgage. 6. To keep all the Property insurcd as may be required from time to timc by the Mortgagee against loss by fire, windstorm, hazards, casualties and contingencies for such periais and for not less than such amounts as may be reasonably required by the Mongagee and to pay prumptly when due all premiums (or such insurance. The Mortgagoragrees to deliver rcnewal or replacement policies or certificates therefor to t he Mortgagee at Icast fifteen ( t S) days prior to the expiration or anniversary date of the eaisting policies. The amounts of insurance required by the Mortgagee shall be minimum amounts for ahich said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain such additional insurance as may be necessary to meet and comply (ully with all co-insurance requirements contained in said policia to the end that the Mongagor is not a co-insurer thereunder. Insurance may be written by a company or compania approved by the Mortgagee (which approval shall not be unrcasonably withhcld) and all policies and renewals shati be hcld by the Mortgagce unless in the possession of a holdcr of a Prior Nortgagc All detailcd des~gnation~ by thc ~lortgagor which are accepted by the Mortgagee and all agreements between the Mortgagor and Mortgagee relating to insurance, now ex~sting or hereafter made, shall be in writing and shall be a part of thi; mortgage agnement as fully as though set forth verbatim herein and shall go~~ern bot6 parties hercto. No lien upon any policy of insurance or upon any refund or return premium which may be payable on the cancellation or trrmmation thereoi shall be given to other than the Mortgageeexcept a holder of a Prior tilortgage or by properendorsement affixed to such policyand approvcd by the Mortgagee. Each policy of insurance shaU have affixed thereto a Standard hew York Mortgagee Clause Without Contribution making aU loss or losses under such policy payable to the Morigagee as its ~necrest may appear. In tbe event ~ny sum or sums of mone~• become payabk thercunder the Mortgagee shall have the option to receive and apply the same on ac~ount of the indebtedncss secured hereby or to permit the Mortgagor to rece~ve and use it or any part thereo( without waiving or impairing any equity, lien, or right under and by virtue of this mortgage. In the event of loss or physical damage to the Property the ~lortgagor shall g~ti~e ~mmed~ate notice thereof by mail to the Mortgagee and the Mortgagee may make proof ot loss d the samc is not promptly made by the Mortgagor. In the e~~ent of toreclosure of this mortgage or other transfer of title to the Property all right, titl~ and intcrest of the ~lortgagor in and to the ins-~rance policics sha{I pass to the purchaser or grantee. 7. If the Mortgagor (ails to perform h~s covenants and agreements contained in this mortgage, or if the Mortgagor fails to perform any duty ~~r obtigation arising under a Pnor Mortgage (including the paymcnt ot principal and/or interest, deposits on account of taxes and insurance premiums and late charges even though the holder of~the Prior !Nortgage has made no demand thereunder and has not threatened an~• action in cunncction w~th the same-, or it any action or proceeding is commenced which materially af(ects the Mortgagee's interests in the Property, ~ncluding but not limitcd to emincnt domain or codc enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent abandonmcn: of thc Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessary to hnng the Pnor Mortgage current, may make appcarances: ma~~ enter upon and secure the Property, may disburse such other sums (including hut not limitrd to the payment of insurance premiums and taxes), and may take such other action as the Mortgagee reasonabl}' dcems nec~ssar~• ur ad~~sable to protect his intercsts in the Property, al! without regard to the value of thc Propert~•. Any amounts d~sbursed b~• the 1~tortgagee ~ursuant to the pro~~isions of this paragraph, togcther with interest thcreon at the rate of cighteen ( IB~~) per cent per annum shall become ~dditional indebtedness of the Mortgagar secured by this mortgage. Unless thc Mortgagor and Mortgagec agree ~n writing to some other terms ~~f payment, such amounts shall be payable immediately. \othing in this paragraph shaU reyuirc the Mortgagee to incur am•expense, make any Jicbursement or take any action whatever. 8_ All proceeds of any award or claim for damaga direct or consequential in connection with any condemnation or any other tak~ng by eminent domain ot the Property orany pbrt thereof, orforconveyance in lieu of condemnation oreminent domain are•hereby assigned and shall be paid to the Mortgagee. ~lnless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagee shall be a pplied to the sums secured by this mortgage without imposuion of any prepayment charge. and (b) the applieation of proceeds shall not extend or postpone the due date of installments of principal and int~rest or change the amounts thereof. 9. Any forbearance by the Mortgagee in exercising any right or remedy hereunder or otherwise af(orded by applicable law shall not be a w a~ver of or preclude the exerciu oi such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges or the payment o! sums under a Pnor Mortgage by the Mortgagee shall not be a waiver of the Mortgagcc s right to accelerate the maturity of the ~ndcbtedness secured by this mortgage. All remedies prov~ded in this mortgage are distinct and cumulative to any othcr right or remedy under ~h~s mortgage or afforded by law or equity and may be exercised concurrently, independently or succeuively. !0. To pay all costs charges and expenses including attorney's fees (whethcr or not litigation occun and it it does then those on appellate as w•cll as trial kvel) and abstract costs reasonably incurnd or paid at any time by the Mortgagce because of the tailorc on the part of the Mortgagor to perform, comply with and abide by all of his covenants set forth in this mortgage and/or the Note and; or Prior Mongage(s)and thc promissory note(s) secured lhereby. I I_ The Mortgagv is a licenxd mortgage broker under Chaptcr 494, Florida Statutes. • Ni : ao ~Prepared by Stanley H. Spieler, Attorney, 47pp giscayne Boulevard, Miami, Florida 33137 ~ ~ - ~ ~ ~ ~ g~~K348 ~,~;~ 612 ; _ ~ .~ s~,~ ~ , ~ _ _ ,~$ - ~~= ~~`~~-r~-,.. ~:;~,~ ~~r~ . ~ . . - ~ ~ . _ "`'~ _