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Home My WebLink About0990 ' ~1 ~TATE~~;F"FL.~F=~t;~%~ . O;~'~UMENTARY,-~' ;~.51AMP tn ~ ~ 5.~.~6'7'74 ` ; c,Eti•t UF REYENUE~' ' ~ " ° - _ ~Ea:~•e~ ~ 0 9.15 1 / a, =,P,°,, ~,:$~r ' _ - ` - ~5-61,082-4 MORTGAGE made ~he day below sct forth betwceo the Mortgagor below named and the Mortgaaa, METROPOLITAN MORTGAGE CO., a Florida corporation. - W H ER EAS, the Mortgagor is indebted to the Mortgagee as evidenced by a certain mongage note (Note) ot even date from the Mo~tgagoc to Mortgagee as described below•. To secure to the Mortgagee thc performancc by the M ongagor of all his agrcemrnts as set fonh in this Mortgage and the Note, ihe repayment of the indebted~ess evidenced by the Note, interest thereon, sums advanced by the Mortgagte in accotdance with the p~ovisions o[ this hlortgage to protect the lien and security thercof, and interest tbereon, tho Mortgagor does hereby mortgage, grant and convey to the Moctgagee the ~eal proQe~ty described below, togethet with (a) afl eaxm~nts, rights, tencments, hereditaments, rents. issues and profits appurentant ~here~o; (b) all buildings, structures and.improvements naw or hercafttr located thercon: (c) all components thereo[ includi~g pipes, plumbing fixtures and eyuipment, electrical copdwt and wiring and fixtures, heating and cooling and air condUioning equipmcnt and tixtures, sp:~nklirtg and irrigation equipment and fixtures, mechanical equipment, pump~, fencts and awnings;ld) range, oven, reirigerator, dishwasher, wash~ng machine, dryer, appliances, (loor coverings and ca~peting suuat~ thcreon o~ therein: and (e) all replacements and additions to the property described in (b), (c) and ~d) above: provided, however that no security interest is imposed upon afler acquired consumer gaods as defined by the Florida Unilocm Commercia{ Code_ To have and to hold the same unto the Mortgagte, its successors and a~.signs in (ee simple. All of thc foregoing are herein collectively referred to as the °Property". The Mortgagor convtnants that he is law(ully seized of the estate hereby conveyed and he has the right to mortgage, grant and convey the Property. that the Pro~xrt~• is uncncumbercd cacept as may be below noted, and that the Mortgagor w~ll warrant and defend the title to the Propetty against all claims and demands. And the Mortgagor covenants and agrees as follows: I. To promptly pay when due the principal of and interest on the indebtednes; e~•idenccd by the Note and prepayment aad late charges as provided therein. 2. To pa} atl taxes, assessments, charg~s, fines and other impositions ot governmentaf authority against tfie Property within sixty (60) days of when due or sixt} ~601 day~s priar to the same bccoming delinquent, whichever may first occur. i. I( it is noted below that this is a second or other subordinate ranked mongage, then to promptly pay when due principal and interest owing under mortgagt(s) of higher priority ("Prior Mortgage{s)"), to promptly pa}• to the holder(s) of Prior Mortgage(s) sums duc on account ot taxcs and insurance premiums as may be providcd !or under the provisions of the Prior Mongage(s), and to otherw~x fulty. promptly and completel}• kecp and perform all of the prom~ses and com•enants of the mortgagor under Prior Mongage(s)and the promissory note(s) secured thcrebv; aff of th~ forcgoing'witfiout regard to any waivers, extensions or indulgences granted by the holde~(s) of Prior Mortgage(s) unless with the prior consent of the Mortgagee. ' 4. \ot to appl}• to, rcquest of, receive or accept from any holder of any Prior Mortgage any money. funds or things of value w•hich would. might ar could bc consi~ered as an ad~•ance secured by the lien of such Prior Mo~tgage. 5. I~ot tv commit w•aste or permit or suifer thc impairment or deterioration of the Property; not to erect or permit to be erected any new bu~ldings on the Property or any structural alterations to eaisting buildings without the hlortgagee s prior wsiuen conscnt; to comply w~th aU subdi~ ision ratrictions and tomng an~l other tegulatory laws and ordinances affecting the Property. lf the Property is a condominium unit, the tilortgagor shall, promptl~~ and completely perform all o( his obligations undcr thc declarat~on of condominium and the condominium associat~on's articles of incorportation, by-laws and rules a~d ~egulatio~s and other constituent condominium documents including but not lim~ted to the pa~ ment of all regular and spccial assessments, the liens for which against the Property might or could have priority over the lien of ; chis mortgage. If tfie Property is part of a planned unit de~ttopment. the Mortgagor shall promptly comply with all provis~ons of the declaration of co~•enants and restricuons establishing the same and shall promQtfy lul~l! all his obligauons undtr theconstitucnt documeots of the planned unu de~elnpment including the homeowners association's ar us equivalent's aniclcs and by-laws and shall prompd}• pay all assessments or chasgcs ot c~•cr} naturc (no matter how dcsignatcd) ihe lien for which against the Propcrty m~ght or could have pnonty over the lien of this mortgage. 6. To kccp all the Propert~ ~insurcd as may bc required from time to time by the Mortgagee against loss by fire, windstorm, hazards, casualtics and contingencies tor such periods and tor not less than sueh amounts as may be reasonably required by the Mortgagee and to pay promptl}• a hen due all premiums [or such insurancc. Tht Mortgagor agrees to deliver renewal or rep{acemtnt polic~ts or c~rtificates therefor to ~he 1lortgagrt at least fiftcen (1 S) days prior to the expiration oranniversarydate of the existing pol~c~es. The amounts of insurance required by the Mor?gagee shall be minimum amounts ior ah~ch said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain such additional insurance as may be necessan to meet and comply lully with all co-insurance requirements contained in said pol~cies to the end that the titortgagor is not a co-insurer thercunder. Insurance may be written by a company or companies approved by thc Mortgagee (which ~I appro~•a1 shall not be unreasonably withhcld) and all policics and renewals shall be held by thc Mortgagee unless in the possession of a holder of a Prior ~lortgagc. All dcta~lcd des~gnations by the Moctgagor which are accepted by the Mortgagcc and a!I agteements between the Mortgagor ~ and Mortgagce rclating to insurance, now exisung on c~rcafter made, shall be in writing and shall be a part of this mongage agreement as fully as ~ though sct fonh verbat~m hcrein and shall govern both parties hcreto. No Gen upon any policy of insurance or upon any rcfund or return prem~um wh~ch ma}~ be pa}~able on the cancellation or termination thereo[ shalt be g~ven to other than the Mortgagee ezcept a ho{der of a Prior ~lortgage or b~• aroper endorsement affixcd to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a Standard \cw York \+iortgagce Clause Without Contnbution making all loss or losses under such policy payable to the Mortgage~ as its interest may appear. !n the evcnt any sum or sums of money become payabk thereunder the Mongagee shall have the option to rece~ve and apply the same on account ot the indebtedness ucured hereby or to permit the Mortgagor to rece~ve and use it or any part thereof without wai~~ng or impa~ring an}• cquity, iirn, or right under and by virtue o( tha mortgage. ln the event of loss or physical damage to the Property the ~fortgagor shall g~~c immediate not~cc thcreof by mad to the Mortgagee and the Mortgagee may make proof of loss if thc same ~s not prompdy made b~ thr \lortgagor. In thc evcnt of foreclosurc of this mortgage or other tnnsfer of title to thc Propcrty all right, titlc and interest of the ~lortgagor tin and to the insrrance poficies shall pass to the purchaser or grantee. 7. lf the ~lortgagor tails to periorm his covenants and agre~ments contained in this mortgage, or if the tifortgagor fails to perform any~ dury ~~r obligauon anseng under a Prior Mortgage (including the payment of principal and; or interest, deposits on account of taxes and insurance prrm~um~ and late charges even though the holder of the Prior Mortgage has made no demand thertunder and has not threatened any action in cunnecuo~ w~th the samel, or i! any action or proceeding is commenced which material{y affetis th~ Mortgagee's interests in the Property. ~ ncluding hut not lim~tcd to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent abandonment oi the Propert~~, then the Mortgagee at its option may pay to the holder of a Prior Mortgage all or parts of the sums necessary to hr~ng thr Pr~~~r titc?rtgage current, mac make appearanca, may enter upon and ucure the Property, may disburse such other sums (induding hut nut 6mrtrJ tu the pa}~ment of ~nsurance prem~ums and taxes?, and may take such otheraction as tht Mortgagee reason~bh• Jeems necusar~ ~~r advi~ablr to protrct his interests in tht Propeny, all without regard to the ~alu~ of the Property_ Am• amounts d~sbursrd b~• the 4forfgagee pursuant to the procisions of this paragtapfi, together with interest tfiereon at the rate ot s~xteen (16~'0) p~r tent per annum shall become additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagce agree in wnhngto some other terms p:i}~ment. such amounts shall tx payable immtdiately- ~othing in this paragraph shaU require thr Mortgagee to incur an~ expense. make any~ disbursement or takc any action whatevtr. S. All pr.xccds of any award or claim for damages direct or conuquential in connection with any condemnation or any other takting by eminent domain of the Property or any part thertof, or forconveyance in I~eu of condemnation or eminent domain are hereby assigncd and shall he pa~d to the !4lortgagee. l3nless the Mortgagor and Mortgagee otherwise agret in writing ~a) ail proceeds received by the Mortgagee shall be applied to the sums secured by this mortgage without imposition olany preQayment charge. and (b) the apQlication ot proceeds shalt not extend or postpone thc due date of installments of principal and interest or. change the amounts thereof. 9. Any forbearance by tht Mortgagee in ezercising any right or remedy hereunder or otherwise aifordcd by applicable law• shall not be a , w ai~~c~ of or preclude the exercise of such right or remedy. The ptocuremtnt of insutanee or the payment of taxes or other licns or charges or the paymcnt of sums under a Prior tiiortgage by the Mortgagee shall not be a waiver of the Mortgagee's right to accelerate the matunty o( the ~ndebtcdness securcd b}• this mortgage. All remedies prov~ded in this mongage arc distinct and cumulative to any other right or remedp under chis mortgage or a[torded by law or equiey and may be exercised concurrently, independently ot succ~ssively. !0. To pay all costs charges and eapenxs including attorney's fees (whether or not litigation occun and if it does thes?those on appellate as well as tnal le~~cl) and abstract costs rcasonably incurred or paid at any time by the Mortgagee because of the faiiurc on the part of the 1lortgagor to perfotm, comply with and abide by all of his covenants xt forth in this mortgage andr' or the Note and ~ or Prior Mortgage(s) and the promis~ory notNs) secured thereby. I 1 Thc titoctgaQCC is a licenscd mortgage broker under Chapter 494, Florida Statutes. ~ ~1~~' ~ Prc arcd b Stanle N. S ~eler, Attorne 47W Bisca}~ne Boukvard. Miami, Florida 33137 ~ w~ n-x: r r r - ao~x394 Q.,rf ~y2 ~ ~ - - - _ _ _ ~ - - - ~ _ _