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MORTGAGE made tbe day bclo~v set forth bct~reea the Mortpao~ below aamed and tbe Mongagee. M£TROPOI.ITAN MORTGAGE
CO.. a Florida rnrporution.
W HEREAS. the Mortg,agor is iadeMed to tl~e Mortaaaoe u evideaoed by a aruin mongagc aote (Note) of eren date from the Mortaaaor
to Mortga~ as dacribed below.
To ucurr to the Mortgagoe thc performaaa by the Mong,aaor of aU las agreements set forth ia tfus Mongase and the Nott. iacludinR the
rcQaymeat of the indebtedneu evidenad by the Note. iaterat tlxreon. sums ad~~aaoed by thc Mortgagee ia aceordarx~e writh the provisioru of
ttus Mortgage to protect the lien zad sccurity thereot, aad iaterat thereoa, tbe Mortgagor does hercby mortpge, grant and coavey to tbe
Mortgagee the real property described below tcgc~l~er with (a) all usemeats, righu, tenements, I1lI!'dllilOtDtt, ~tplf, ISt1K3 illd profits
appuRenant thereto• (b) aU buildings. structurcs and ~mprovemeau aorr or hereafter locatcd upon said real p~opcrty. (c) ap of the foUowing
praeatiy atuched thercto• p~pes. plumbiag fixtures sad cyuipmea~ ekctrical ooaduit and wiring aad fuctuns. 6~st~ag and cooGng and au
conditioning cquipmcnt and fixtuns. spriakuag aad irrigat~oa equipmeot and fixtures, pumps, fencu and awaings; aad (d) raage. ovea and
refrigerator preseatly upon thc prcmisa; aU oi t6e foregoina an hernn refemed to u th~ "Property." To ha~Y aad to hold t6e u~u : unto tbe
Mortgagee, Us sucoessors aad ass~gas m fee simpk.
The Mortgagor convrniats that ~ is lawfully seized of the esute hereb~• conveyrd and he has the nght to mortgagt. grant and convey the
Property, that the Property is uneacumbered excepi as miy be below notod. aad that thc Mortgagor vnll wamnt and dcfend ttx titk to the
Property against a0 claims and demaads.
And the Mortgagor covenants and agrees u foliows:
1. To promptly pay when due the priacipal o[ and interest oa tbe inde~ted~xss evidenced by the Note and prepayment and late charges as
provided thercin.
2_ Ta pay all uxes, assessme4ts, charges, fines and other impcnitioas of go~Yrnmental authority against t1x Property withia sixty (60) days
ot when due or siaty (60) days prior to t6e ume becoming deGnquent. w6ichever may first occur.
3. If it is noted below tlut this is a second or other subordinate nakrd mongaae, then to promptiy pay when due priacipal and intercst
ownng under mortgage(s) of higher priority (`Prior Mortaage(s)'~. to promptly pay to the holder(s) of Prior Mortgage(s) sums due on account of
taaa and insuraaoe premiums u may be provided for under the provisioas of the Prior Mortgage(s). aad to otherwise (ully. promQtly and
compktely keep and pedorm all of the promisa and conveaants of the mortgagor under Prior Mongage(s) and the promissory note(s) securcd
ther~by, all of the foregoiag without rtgard to any waivers, extcasions or iadulgences granted by the holder(s) of Prior Mortgage(s) ualas with
the prior rnnsent of the Mongagcr.
4. Not to apply to, rcqucst of, reocivr or aoapt fram any hoidcr of any Prior Mongage any money. funds or t6ings of value which would,
might or could be considerod as an advanoe securcd by the lien of sucd Prior Mongagr_ '
S. Not to commit waste or pcrmit or suffer t6e impairnxat or deterioration of the Property; not to erect or permit to be erected any new
buildings on the Property or aay structural alterations to existing tiuildings vrithout the Mortgagec's prior vrritten consent; to comply vnt6 all
subdivision restriaions a~ zoning and othcr rrgulatory laws and ~tdiaancu aftecting the Property_ !f thc Property is a condominium unit, the
Mortgagor shall promptly and compktely perform all of his obli$ations under the declaration of condominium and tlx coadominium
auoc~at~on's articks of iacorportation, by-laws and ruks and regulapons aod other consutucnt coadomiaium docwnents including but not
limited to the payment of all rcgular and special assessments, t6e Gcns for which against the Propert~ might or could have priority over t6c 6en of
this martgage. lt the ProQerty is part of a planned unit d~velopment, the Mongagor shall promplty compty with all provis~oas of the dedantion
of covenanu and restricqons euabl~shiag the same and shaU promptly fulfill all his obligations under the constitueat documcnts of the planaed
unit development induding tbe homeowners associatioa's or ~ts eqwvaknt's articks and by-laws aad shall prompUy pay aU assessments or
charges of every nature (no matter how daignated) the lien for arhic6 againtt the Property might or could have priority over t6e Gea of this
mortgage.
6. To keep aU the Property insured u may b~ rcquired from time to time by the Mortgage~ agaiost loss by fire, windstorm. 6azards,
casualties and contingencies tor such periods and (or not kss t6an such amountt u may be rcasonably requircd by the Mortgagee and to pay
promptly whcn due all premiums [or suc6 iasunaoe_ The Mortgagor agrca to deGver renev-al or rcplacement poGaes or certificates thercfor to
the Mortgagee at least fifteen (1 S) days prior to the expiation or anniversary date of the ~xisting poGcia. The amounts of inturance requircd by
the Mortgagee shaU be minimum amounts for which said iasurance shall be vrrinen and it shall be incumbcnt upon the Mortgagor to mainuin
such additional insunnce as may be neoasary to mcet and comply [uUy w~ith all co-insurance requircmeats contained in said poGcies to the end
that the Mortgagor is not a co-insurer thercunder_ Insuraocc may be writtcn by a company or companies approved by the Mortgagee (wWch
approval shall not be unrcasonably withheW) and all poGcies and renewals shall be held b~ thc Mortgagoe unkss in t6e possession of a hoWer of
a Prior Mortgagc. All detaikd daignations by tt~e Nortgagor w6ic6 ue aoceptod by the Mortgagee aod al! agramenu between tbe Mortgagor
and Mortgagee rclating co insuranoe, ~ow exisuna or herafter madc. shall be in writing and shall be a pan of t6is mortgage agreement u fully u
though set forth verbatim bercin and shaU go~Yrn both parties her~eto. No Gen upon any policy of insunnct or uQon any rcfund or return
premium which may be payabk on the canocllation or termination tbercof shaQ be gnYn to othcr than the Mortgagee exapt a holder of a Prior
Mortgage or by proper endorsement affixed to such policy and approved by tt~e Mongagee_ Each poGcy of insunnoe shaU 6ave affixed thereto a
Standard New Yort Mortgagcs Clause Wit6out Contnbution making all loss or losses under s~uh poGry payabk to tbe Mort~agee u its
interest may appear. In the event any sum or sums of money become payabk t6ercunder tFx Mortgagee shall 6ave the option to reoe~ve and
apply the same on account of tbe indebtednas socurod lxreby or to permit tbe Mortgagor to recave and use it or aoy part t6ercof without
waiving or impairing any equity, lien, or right under and by virtue of tAis mortgage la the event of loss or physial damage to the Property the
Mortgagor shall give immcd~ate notice thereot by mail to the 1~lortgagee and the Mortgagce may mate proof of lou if the same is not promptly
snade by the ~fortgagor. In the eveot of foreclosure of this mortgage or other tnnsfer of titk to the Property all right, titk and intercst of the
Mortgagor in and to tbe insuranoe po6cies shall pau to tFx purchascr or grantee.
7. If the Mortgagor fails topMorm his co~rnants and agrcemenuconnined in t6is mortgage, or if the Mortgagor fails to perform any duty
or obligation arising under a Pnor Mortgage (including the payment of prinapal and: or intcrtst, deposiu on aceount of uaa and insurance
premiums and late charges even though the holder of the Prior Mortgage hu madc no demand thereunder and has not thratened any action in
connection with the same), or if any aaion or procceding is commeaood which materially affecu the Mortgagee's intercsts in the Property.
including but not limitcd to eminent domain or code enforoe~ent or amugements involving a bankrupt or decedent. or if therc is an apparcnt
abandonment of the Property, then the Mortgagee at its option may pay to the ho{der of a Prior Mortgage al! or parts of the sums necessary to
bring the Prior Mortgage currcnt, may make appeannas, may enter upon and securc the Property, may disburx suc6 other sums (iacluding
but not limited to the payment of insnrancc prem,ums and wces). and may take suc6 otber action as the Mortgagee reawnably deems necessary
or advisabk to protect hu ~nterests in the Property, all witbout rcgard to the value ottbe Propeny. Any amouats disbursed by the Mortgagee
pursuant to the pro~•isions of this paragraph, togcther w~th interest thereon at the rate ot eighteen (18 ~) per cent pcr annum shall become
additional indebtcdncss ot the Mortgagor securcd b~ this mortgage. Unless the Mortgagor and Mortgag}e agree in writing to some other terms
of payment, such amoSints sh~ll be payabk immediately_ tiothing in this paragraph shall rcqui:c the ~fortgagor to incur anyexpense, make any
disbursement or talce any aaion whate~Yr.
8. All Procceds of any award or claim for damages direct or coa~equential in connection with any condemnation or any other taking by
eminent domain of the Property or any part thercof, or for conveyanoe m lieu of condemnation or eminent domain arc hercbyassigned and shall
be paid to the Mortgagee. Unless the Mortgagor and Mortgxgee otherwise agroe in w-riting 1a) all proceeds reocivcd by the Mortgagee shall be
applied to the sums securod by this mortgsge vrithout impos~t~on of any prcpayment charge, and (b) the appliqtion of proceeds sbaU not extend
or postpone the due date of installments o( principal and intercst or changr the amounts tAcreof_
9. Any forbearanoe by the Mortgagee in excrcising any right or rcmody hercunder or othervrix afforded by appGpbk law shall not be a
wairer ot or preclude the exercise of soch right or rcmedy. The procureaxnt of insunnce or the payment of taaa or other Gens or charges ar the
paymenl of sums under a Prior Mottgage by the Mortgagee sha11 not be a waiver af t6e Mortgagee's right to acoeknte the maturity ot the
ucdebtedncss sxwed by this mortgage. All remedies provided in t6is mortgage arc distinct and cumulative to any other right or remedy under
this ~uvrtgage or rf(ordod by !aw or oquity and may be exercised concurrenUy, independently or successively.
10. To ~y aU cosu c6uges and expenses including attorne~s kes (whet6er or not Gtigation occvrs and if it does then those on appellate as
well u tri:. kvcl) and abstract costs rcasonably iacurred or paid at any time by the Mortgagee because of the failurc on the part of the
Mottgagor to perform, comply with and abide by all of his covenants set forth in this mongage and; or the Noteaad; or Prior Mortgage(s) and
the promissory note(s) securod thereby.
p~'K •JZJ ~'b~~~~~~ i
~~~-' Rn iw~ ~Prcparcd b}• Staoley H. Spiekr, Attorney, 4700 Bisca}~ne Boule~ard. `liami. Florida 331~~
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