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MORTGAGE made the day below set (orth between the Mortgagot below named and the Mortgagee. METROPOLITAN MORTGAGE
CO.. a Florida corporation.
W H E R EAS, the Mortgagor is indebted to the Mortgagee as evidenced by a ce~tain mongage note (Note) o( even date (rom the Mortgago~
to Mortgagee as described below.
To sccure to the Mortgagee the per(ormance by the Mottgagor of all his agreementsas set torth in this Mortgage and the Note, the repayment
o( the indebtedness evidenced by the Note, i~terest thereon, sums advanced by the Mortgagee i~ accordance with the p~ovisions o( this
hlo~tgage to protect the lien and secu~ity thereof, and interest thereon, the Mortgagor does hereby mongage, grant and convey to the
Mortgagee the real property described below, together with (a) all easements, rights, tenements, hereditaments, rents, issues and profits
appurentant thereto; (b) all buildings, structu~es and improvements now or hereafter located thercon; (c) all components lhereof irtcluding
pipes, plumbi~g fixtures and eyuipment, ekctrical condu~t and wiring and (ixtures, heatiog and cooling aod air cond~tioning equipment and
fixtures, sprinkling and ir~igation equipment and fiRtures, mechanical equipment, pumps, fences and awnings; (d) range, oven, refngerator,
dishwasher, washing machine, dryer, appliances, (loo~ cove~ings and carpeting s~tuate therean or therein; and (e) all replacements and
additions to the prope~ty described in (b), (c) and (d) above: provided, however that no sccu~ity interest is imposed upon a(ter acquired
consumer goods as defined by the Flo~ida Uniform Commercial Code. To have and to hold the same unto the Mortgagee, its successors and
assigns in fce simplt. All ot the (oregoing are herein collectively referred to as the "Property".
The Mortgagor convcnants that he is law(ully seized of the estatc hereby conveyed and he has the right to mortgage, grant and convey the ~
Propeny, that the P~operty is unencumbered except as may be below noted, and that the Mortgagor w~ll warrant and detend the title to the
Property against all cla~ms and demands. '
And the Mongagor covenants and agrees as (ollows: -
1. To promptly pay when due the principal of and intercst on the indebtedness e~•idenced by the Note and prepayment and late chargesas
provided therein_ ~ i
2. To pay all taxes, assessments, charges, fines and other impositions of governmental authority against the Property within sixty (60) days ~
of when due or sixty (60) days prior to the same becoming delinquent, whichever may first occur. - ~
3. lf it is noted betow that this is a second or other subordinate ranked mortgage, th~n to promptly pay wh-n due principal and interest
owing undcr mortgage(s) of higher priority ("Prior MorEgage(s)"). to promptly pay to the holder(s) of Pnor Mongage~s) sums due on account of ~
taaes and insurance premiums as may be prov.idcd for under the provisions of the Prior Mortgage(s), and to otherw~se fully. promPtly and ~
completel}~ keep and perform all of the promises and convenants of the mortgagor under Prior Mortgage(s) and the promissory note(s) secured
thereby; all uf the (orcgoing without regard to any v?~aivers, ~xtensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with
the priu[ consent of the Mortgagee.
4. Not to apply to, requcst of, rcceive or accept from any holder of any Pnor Mortgage any money. funds or things of value vrhich would,
might or could be considered as an ad~~ance secured by the I~en of such Ptior Alortgage.
5. i~ot to commit waste or permit or suffer the impairment or deterioration o( the Propeny; not to erect or permit to be ~rccted any new
bu~ldings on thf Property or any structural alterations to existing buildings without the htortgagee's prior written consent; to compl}~ wnh all
subdivision restrictions and zonmg and other tegulatory• laws a~d ordinances affecting the Property. lf the Property is a condominium unit, the
~lortgagor shall,promptl~• and completely perform all of his~obligations under the declarat~on of condommium and the condominium
assoc~ation's ariicles of incorportatioa, by-laws and rules and regulat~ons and other constituent condominium documents including but not
1~ m~ted to the payment of all regular and special asussments, the liens for which against the Property might or could have priority or•cr the lien of ~
~ his mortgagc. If the Property is part of a planned unit de~•elopment, the Mortgagor shall pramptly comply with all provis~ons oi the dcclaration
of covenants and restrictior.s establ~shing the same and shall promptly fulfill all his obligat~ons under the constituent documents of the planned ~
un~t dcvelnpment including the homeowners association's or its equrvalent's articles and by-laws and shall promptly pay all asseayments or
charges of c~•cr~• naturc (no matter how designated) the lien (or which against thc Property might or could have pnonty over the lien o( this
mortgagc.
6. To keep all the Propcrty insured as may be required from time to time by the Mortgagee against loss by fire, windstorm, hazards,
ca~ualties and contingencies tor such periods and (or not less than such amounts as may be reasonably required by the Mortgagee and to pay
promptly when due all premiums for such insurance. The Mongagoragrces to deliver renewal or replacement policies or certificates therefor to
the tilortgagee at least fi(teen (1 S) da~~s prior to the expiration or anniversary date of the existing poliaes. The amounts of insurance requircd by
thc Mortgagee shall bc minimum amounts for ahich sa~d insurance shall be written and it shall be incumbent upon the Mortgagor to maintain
such, additional insurance as may bc nccessary to meet and comply (ully with all co-insurance requirements contained in said poticies to thecnd 3,
that the Mortgagor is not a co-insurer thereunder_ lnsurance may be written by a company or companies approved by the Mortgagee (which 2'
'~i approval shall not be unreasonably withheld) and all policies and rcnewals shall be hcld by the Mongagee unlcss in the possession of a holdcr oi
~ a Pnor ?~lortgage. All dctailcd des~gnations by thc Mortgagor which are accepted bythc Mortgagcc and all agreements between the Mortgagor `
~ and Mortgagee relating to ~nsurance, novr cx~st~ng or hereafter made, shall be in writing and shall be a pan o( this mortgage agreement as fully as f
~ though set [orth verbaum here~n and shall govern both parties hereto. No lien upon any policy of inwrance or upon any rcfund or~return :
premwm which ma}• be payable on the cancellation or term~nation thereof shall be given to other than the Mongagee ~xcept a holder of a Prior j
E ~lortgage or by propcrendorsement affiacd to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thcrcto a ,
Standard ~ew• York Mongagee Clause Without Contnbution malcing all lou or losses under such policy payable to the Mortgagee as its
~ interest may appear. In the event any sum or sums of money become payable thereundcr the Mortgagce shall have the option to reccive and
~ apply thc samc on account of the indebtedness secured hereby or to permit the Mortgagor to reu~ve and use it or any part thereof without
waiv~ng or impairing any~ eywty, iicn, or righ~ undcr and by virtue of this mortgage. In tht event of loss or physical damage to the Property the
~lortgagor shall gi~•e immed~ate not~ce thcrcof by ma~l to the Mortgagee and the Mortgagee may make proof of loss if the samc ~s not promptly
made b~• the \lortgagor. In the e~~ent of foreclosure oi this mortgage or other transfer o( title to the Property all right, t~tle and interest of the
tilortgagor in and to thc instvance poticics shall pass to the purchaser or grantee. ;
7. If the M c~rtgagor fails to pcrtorm his covenants and agreements contained in this mortgage, or if the ~tortgagor fails to pcrform anp duty ~
~r obligat~on ansing under a Pnor Mortgage (includ~ng the payment of principal and,ror interest, deposits on account of taxes and ins~~rance ~
prem~ums and late charges even though the holder of the Pnor Mortgage has made no demand thereunder and has not threatened any acuon in ;
cnnnecuon w~th the same?, or if any action or proceeding is commenced which materially a(fects the Mortgagee's interests in the Property,
~nclud~ng but not hm~tcd to emincnt doma~n or code enforcement or arrangements invoh•ing a banlcrupt or decedent, or i( therc is an apparent !
abandonmcnt ot the Property, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts o( thc sums neccssary to
hnng thr Pnor ~lnrtg~ge currcnt, ma}• make appearances, may enter upon and securc the Property, ma}• disburse such othcr sums (indud~ng
hut not IimneJ to thr pa~•ment of insurance prem~ums and taxes), and may take such other action as the Mortgagee reasanabl~ dcems neccssary
~~r ad~ isable to protect his interesls in the Propert}'. all aithout regard to the ~alue of the Propeny~_ Any amounts disbursrd bc the 1lortgagee
pursuant to the procisions oi this paragraph, together with intercst thereon at the rate of sixteen (16~7e) per cent per annum shall become
additional indebtedness of the Mortgagor secured by this mortgage. Unlcss the Mortgagor and ~lortgagce agree in wnhng to somc other terms
~ ~~f F?a}•ment. such amounts shall be payable immediately. \othing ~n this paragraph shall reyuirc the Mortgagce to incur an~• expense, makr an~~
~isbursement or take any action w•hatever.
~ 8. All procecds of any award or claim for damages direct or consequential in connection with any condemnation or any other tak~ng by
~ eminent domain of thc Propeny or any part thereof, or forconveyance in I~eu of condemnation or eminent domain are hereby assigned and shall
be pa~d to the Mortgagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds rcceived by the Mortgagec shall be
applicd to thc sums sccurcd by this mortgagc w~thout impos~tion of any prepayment charge, and (b) the application of proceeds shall not cxtcnd
or postpone the due date of installments of principal and intcrest or change the amounts thereof.
9. An~ (orbearance by the Mortgagee in exercising any right or remedy hereunder or otherwiu aiforded by applicable law shall not be a~
wair~er uf or precludc the exercise of such right or remedy. The procurcment of insurance or the payment of taxes or other liens or charges or the
payment ot sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagec
s right to accelerate the matunty of the
indebtedness secured b~ th~s mortgage. All remedies prov~ded in this mortgage are distinet and cumulative to any other right or remed~• under •
this mortgage or a((orded by law or equity and may be eaerciud concurrently, independently or suceessi~ely.
10. To pay all costs charg~s and expenses including attorney's fees (whether or not litigation occurs and it it does then those on appellate as
well as tnal Ievell and a5stract costs reasonably incurred or paid at any time by the Mortgagee becauu of the fa~lure on the part of the.
'~lortgagor to perform, compl~~.with and abide by all of his covenants set forth in this mortgage and %or the Note and: or Prior Mortgagc(s) and
thc promissory notNs) secured thereby.
I 1. The Mortgagcc is a licenscd mortgage bruker under Chapter 494, Flonda Statutes.
~ ~2cluc.r ~o;
et_ n-x~ ~Prepared bp Stanlty H. Spicler. Attorney, 47W &sca}'ne Boulevard. Miami. Florida 331)7
~ d00K 394 PAGE e~
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