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Home My WebLink About0915 • • • . ~ . _ . - ~ . ~ i . ~,~r~ o`_ O R I D A ~ p ARY tAMP l A X ~ ~ : 4= N ~ ~ v 6:~60~51 ' . y~ 1 a 0 5~ p o~ = neot 1 1 ' ~5-65,827-8 MORTGAGE made the day below:et (orth between tbe Monpsor bebw named and the Mo~t~asee. METROPOLITAN MORTGAGE CO.. a Florida corpontion. ~ . W HEREAS; the Monpgor is indebted to the Mortgs~ee as evidenad by a anairt mortta~e aote(Note) of evendate from the Mort~a~or ! to Mortpaee u describ~d below. ~ ' To secure to the Mortpaee the performance by the Monpaor of all his a6raments as set forth in this Monaaae aed the Note, the repayment ; o[ the iodebtedness evidenced by the Note, intercst thercon. sums advanced by the Mortga6ee ia accordance with the p~oviiions of this ; Monaaae to protect the lie~ and security thercof, and intercst thercon. the Monaago~ does here~y mortgage. arant and convey to the 3 Monaa~ee tt~e ral propeirty described below. together with (s) all easements, rishts, tenements, hercdiaments. ronts. issues and p~ofits ~ appureaunt thereto; (b) all buildinas. structurcs and improvements now or hercafter located thercon; (c) all components therco[ including pipes. plumbiaa fixtures and equipment, ekctrical condu~t and wiring and fixturcs, heating and cooling and air cond~tionina equipme~t and fixtura. spriakliag a~ irrigation equipment and fixturcs, mechanial oquipanent. pumps. fenas and awninas; (d) nnae. oven. rcfnserator, dishwasher. washiag macAine. dryer. appliazces. Qoor coverings aad carpeting s~tuate thercon or thercin; and (e) all replacemeots and ' additions to the property described in (b). (c) and (d) above: prov~ded, however that no security interest ia impoxd upon aRer acquircd s consumer goods u defined by the Florida Uniform Commercial Code. To have and to hold the sarne unto the Mortgagee. its iuccessors and assigns in fee simple. All of the toregang aee hercin collectively refened to u the °Property". The Mortpgor co~venants that he is lawfully seized o[ the atate hereby conveyed and he hu the right to mortgage, grant and convey the Property, that the Propeny is unencumbered except as may be below noted. and that the Mortgagor will warrant and defend the title to the Property aga~nst ail cla~ms and demands. And the Mortgagor covenanu and agrees u follows: ~ 1. To promptly pay when due the principal of-and intercst on the indebtcdness evidenced by the Note and prcpayment and late charga as provided thereia. 2. To pay all taxa. assessments, charga. fines snd other impositions of governmental authority against the Property within sixty (60) days ~ of when due or sixty (60) days prior to the same becoming delinqaent, wh~chever may first oocur. ~ 3. If it is noted below that this is a second or other subordinate ranlced mongage. then to promptly pay whe~ due principal and interest owing under mortgage(s) of higher priority ("Prior Mortgage(s)"). to promptly pay to the holder(s) ot Pnor Mortgage(s) sums due on account ot taxa and insurance prem~ums as may be provided for under the prov~s~ons of the Prior Mortgage(s), and to otherv?nse fully, promptly and ~ cc:.^.pktcly keep and pertorm all of the promises and convcnants ot the mortgagor under Prior Mortgage(s) and the promissory note(s) secured thereby; all of the foregomg without rcgard to any waivers, extensions or indulgences granted by the holder(s) of Pnor Mortgage(s) unless with the prior consent of the Mortgagee. 4. Not to apply to. request of. rcaive or acoept from any holder of any Prior Mortgage any money, fuads or things of value which would, ! might or could be cons~dered as an advance secured by the lien of such Pnor Moregage. # S. Not to commit waste or permit or sutfer the impairment or deterioration of the Property; not to erect or permit to be erccted any new ~ buildings on the Propeny or any structural alterations to existing buildings without the Mortgagee's prior written cons~nt; to compiy w~th all subdivis~on restrictions and zoning and other tegulatory laws and ordinances affectiag the Property. lf the Propert~+ is a condominium unit, the Mortgagor shall,promptly and compktely perform all of his obligations under the declarat~on of condom~o~um and the co.ndominium assoc~ation's articles of ~ncorporcation, by-laws and rula and regulauons and other constituent condominium documents inclnding but not limitcd to the payment of all rc~ular and spec~al asscssments, the Gens for which against the Property might or could have priority o~er the licn of this mortgage. lf the Pro~erty u part of a Planncd unit devetopment. the Mortgagor shall promptly comply with all provis~ons of the declantion of covenants and restrictions establuhing the same and shall promptly fulfill all h~s obligations onder the constituent dceumenu of the planned unit devclopment including the homeowners association's or ns equrvalent's articles and by-laws and lhall promptly pay all assessments or charges of every nature (no matter how daignated) the licn for which against the Property might or could have pnonty over the lien of 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, casualtia and contingencia for such periods and for not las than such amounts as may be reasonably rcquired b~r the Mortgagee and to pay promptly when duc all prcmiums for such insurance. The Mortgagoragreu to deliver nnewal or replacement polic~cs or certif cates thercfor to ' che Mortgaga at kast fifteen (1 S) days prior to the expiration or anniversary date of the existing poGc~es. The amounts of insuranve requircd by the Mortgagce shall be minimum amounts for ahich said ~nsurana shall be written and it shall be mcumbent upon the Morigagorto maintain t such additional insurana as may be necessary to meet and compty fully with all co-insurance requircments conta~ned in said pol~na to the end ~ that the Mortgagor is not a cainsurer thercunder. lnsurance may be wntten by a company or compania approvcd by the Mortgaga (which ; approval shall not be unreasonably w~thheld) and all policies and nnewals shall be held by the Mortgagee unieu in the possession of a holdcr of ` a Prior Mortgage: All detailed daignations by the Mortgagor which arc aoapted by the Mortgaga and all agraments between the Mortgagor a nd Mortgaga eelating to insurance. now exishng or hereafter madc. shall be in writing and shall be a part of this mortgage agreement as fully as } ' though ut (orth verbatim herein and shall govern both parties hereto. No lien upon any policy of ~nsurance or upon any retund or return ~ prem~um which may be payable on the cancellation or term~nation thereof shall be given to other than the Mortgagee except a holder of a Prior - M ortgage or by proper endorsement affixod to such policy and approved by the Mortgagee. Each policy of insurance shall have affixed thereto a Standard New York Mortgagee Clause Without Contnbution making all lou or losscs under such policy payable to the Mortg,aga as iu ~ intercst may appear. In the event any sum or sums of money bocome payable thereunder the Mortgagee shall have the option to narve and apply the same on account of the indebtedness secured hereby or to pernut the Mortgagor to reoerve and use it or any part thercof without ~ waiving or impairing any equity, lien. or right under and by virtue of thu mortgage. In the event of lou or phyr~ical damage to the Property the Mortgagor shall give ~mmed~ate notice thereof by mail to the Mortgagee and the Mortgagce may make proof of loss if the same is not promptly made by the Mertga r, In the event of foreclosure ot this mortgage or other transfer of t~tle to the Property all right, title and interat of the Mortgagor in a~d_~~j~nc.e po~~cics shall pass to the purchaser or grantee. 7. If the Mortgagor fails to perfarm his covenants and agrcements contained in this mortgage, or if the Mortgagor fails to perform any duty or obligation ansing under a Prior Mortgage (including the payment of principal and/or interest, deposits on aecount of taxes and insurance premiums and latc charges even though the hoWer of the Prior Mortgage has made no demand thercunder and has not thrcatened any action in connection with the same), or if any action or proceeding is commenced which materially affects the Mortgaga's interests in the Property, including but not limited to eminent domain or code enforament or arrangements involving a banlcrupt or deadent, or if there is an apparent abandonment ot the Property, then the Mortgagee at its option may pay to the holder of a Pnor Mortgage all or parts of the sums necessary to ~ bring t~ie Prior Mortgage current, may make aPpcaranoa, may enter upon and secure the Property, may disburse such other sums (including but not limited to the payment of insurance prem~ums and taxes), and may take such other action as the Mortgagee rcasonably deems necrssary t or advisable to protect his interests in the Property, all without regard to the value of the Property. Any amounts disbursed by the Mortgagee ~ pursuant to the provisions of this paragraph, togcther with interest thercon at the rate of sixteen (164fo) per cent per annum shall become ~ ad~it~onal indebtedness of the Mortgagor securcd by this mortgage. Unless the Mortgagor and Mortgagce agree in wnt~ng to some other terms E of payment, such amounts shall be payable immediately. Nothing ~n this paragraph shall rcquire the Mortgagee to incur any~xpense. make any ° , disbursement or take any action whatever. ~ 8. All proceeds of any award or claim for damages direct or consequential in connection with any condemnation or any other tak~ng by eminent domain of the Property or any part thercof. or forconveyana in lieu of condemnation or emiaent domain are hercby ass~gned and shall bc paid to the Mortgaga. Unless the Mortgagor and Mortgagee otherwise agroe in writing (a) all proceeds reeeived by the Mortgaga shall be , ~ appLcd to the sums secured by this mortgage vinthoutimposit~on of any prepayment charge. and (b) t6e application of proceeds shall not extend or postpone the due date of installmc~ts of principal and mtcrest or change the amounts thereof. 9. Any forbearana by the Moitgagee in exercising any right or rort~edy hereunder or otherwise afforded by applicable law shall not be a waiver of or preclude the exercise of such right or remedy. The procurement of insunncx or the payment of taaes or other liens or charges or the payment of sums under a Prior Mortgage by the Mortgagee shall not be a waiver of the Mortgagee's right to acalerate the matunty o! the ` indebtednas securcd by this mortgage. All rcmedies prov~dod ~n this mortgage aro disiinct and cumulative to any other right or remedy under ~ this mortgage or afforded by law or equity and may be exercisod concurrenUy, independently or sucoessively. ~ 10. To pa"y all cosu charges and expenses including attorney: fea (whether or not Gligation occurs and if it does then those on appellate as ~ well u trial level) and abstract costs rcuonably incurred or paid at any time by the Mortgagee because of the failure on the part of the ~ Mortgagor to perform, comply with snd abide by all of his wvenants set (orth in thu mortgage and/orthe Noteand/or Prior Mortgage{s)and ~ thc prom~uory nots(s) securod thercby. _ I 1. The Mortgagee is a licensed mortgaae broker under Chapter 494, Florida Statutes. j~Q 4i9 PA~ ~5 s~, ~~_t2 oPreparcd by Stanky H. Spiekr. Att n,W4400 &scayne Boukvard. Miami, Florid~ 33137 f ~ • ~ ~ ~ _