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MORTGAGE made the day below set fonh botween the Mortgagor below named and the Mortgagee, METROPOLITAN MORTGAGE
CO.. a Florida corporation.
W H E REAS, the Mongagor is indebted to the Mortgagct as evidenred by a certain mortgagt note (Note) of even date from the Mortgagor
to Mortgagee as deuribed below.
To securc to the Mortgaga the performanc~ by the Mongagor of all his agrceme~ts as set forth in this Mortgage and the Note, the repayment
of the indebtedness evidenced by the Note, interest thereon, sums advanccd by the Mongaget in accordance with the provisions of this
Mongage to protect the lien and security thereof, and intcrest thueon, the Mortgagor does hereby mortgage, grant and convey to the :
Mongagte the real propetty described below, togethcr with (a) all eauments, rights, tenements, hereditaments, rents, issues and profits ?
appurcntant thereto; (b) ail buitdings, structures and improvements now or herrafter located thereon; (c) all components thereof including '
p~pes, plumbing fixtures and equipment, electrical conduit and wiring and fixturcs, heating and cooling and air conditioning equipment and ~
fixtures, sprinkling and irrigation equipm~nt aod fxtures, mechanical equipment, pumps, fences and awnings; (d) range, ovtn, refrigerator, ~
dishwasher, washing machine, dryer, appliances, floo~ coverings and carpeting situa~e thereon or thertin: and (e) all replacements and ~
additions to the property describ~d in (b), (c) and (d) above: provided, however that na security inte~est is imposed upon aQer acquircd
consumer goods as defned by the Florida Uniform Commercial Code. To have and to hold the same unto the Mortgagee, its succcssors and ~
assigns in fa simple. All of the foregoing are herein collectively refs~red to as the "Pro~?erty^. , i
The Mortgagor convenants that he is lawfully seized of the estatc heroby conveyed and hc has the right to mortgage, grant and convey the
Propeny, that the Property is unencumbered except as may be below noted, and that the Mortgagor will warrant and dcfend the title to the
Prope~ty against all claims and demands.
And the Mortgagor covenants and agrecs as follows: i
t. To promptly pay when duc th~ principa! ot and interest on the indebtedness c~•idenced by th~ Note and pfepayment and late charges as
provided therei~.
2. To pay all taxes. assessments, charges, fines an~ other impositions of governmental authority against the Propetty v?rithin sixty (60) days
of when due or sixty (60i days prior to the same bccoming delinquent, uhicheve~ may first occur.
3. If it is noted below that this is a seroad or other subordinatt ranked mortgage, then to promptly pay when due principat and interest
owing under moRgagc(s) of higher priority (°Prior Mortgagc(s)"), to promptly pay to the holder(s) of Prior Mottgage(s) sums due on account of
taxa and insurance premiums as may be provided for under the provisions of the Prior Mortgage(s), and to otherwise tully, promptly and
completcly keep and perform all of the promises and convenants ot the mortgagor under P~ior Mongag~~s) and the promissory note(s) secuted
thcreby; all of the [orcgoing without regard to any waivers, extensions or indulgences g~anted by the holder(s) of Prior Mortgagc(s) unless with
the pnor consent of the Mongagee. ,
4. Not to apply to, requ~st of, receive or accept from any holder of any Prior Mortgagc any mon~y. funds or things of value which would,
might or could be considered as an ad~~ance secured by the lien of such Prior Mortgago.
S. Not to commit waste or permit or suffer the impaiiment or deterioratian 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 the tilortgagee's prior written consent; to corr~ply with a!1
subdivision rcstrictions and zomng and other tegulatory laws and ordinsnces affecting the Property. If the Property is a condominium unit, th~
Mortgagor shall~promptly and completely pcrform all of his obligations under thc decla~ation of condominium and the condominium
association's articles of incorportation, by-laws and rules and regutations and other constituent condominium docurntnts including but not
limited to the ~ayment of al! ngular and special assessments, the liens [or which against the Property might or could have priority over the lien of
this mongage. lf the Property is part of a planned unit dc~~elopm~nt, the Mortgagor shall promptly comply with a11 provis~ons of the declaration
of covenants and restrictions cstablishing the came and shali promptly fuffill atl his obligations under theconstituen! documents of the planned
anit dovrlopment including the homeowners association's or its eqmvalent's articles and by-law•s and shall promptly pay all assessments or
charges of ~vcry nature (no matter how designated) the lien tor which against the Property might or could have priority over the (ien of this
mortgage.
6. T'o keep all the Property insured as may be required from time to timc by the Mortgagee against loss by fire, windstorm, hazards,
casualties and contingencies for such periods and for not less than such amounts as ma}~ be reasonably required by the Mortgagee and to pay
promptly whcn du~ all premiums for such insurancc_ The Mottgagoragrces to deliver renewai or replacement poticics or cenificates therefor to
the Mortgagee at leas~ fifteen (•1 S) da~ s prior to thc expiration or anniversary date of the existing policies_ The amounts of insurance required by
the Mortgagee shall be minimum amounts [or v?•hich said insurance shall be written and it shall b~ incumbent upon the Mongagor to maintain
such additional insurance as may be necessary to mcet and comply fully with aU co-insurance rcquirements contained in said policies to thecnd
that the Mortgagor is not a co-insurer ther~under. Insurance may be written by a company or companies approved by the Mortgagee (whieh
approval shall not be unreasonably withheld) and all policies and renewals shall be held by thc Mottgagee unlcss in the possession of a holder of
a Pnor Mortgagc. All detailcd designations by the Mortgagor which are accepted bv the Mortgagee and all agreements betwcen the Mongagor
and Mortgagee relating to insurance, now exist~ng or hereafttr made, shall be in writ~ng and shall be a part of this mortgage agreement as fully as
though set torth verbatim hcrein and shall govern both parties hereto. No.lien upon any policy of insurance or upon any refund or retu~n
premium which may be payable on the cancellation or termination thereof shall be givrn to other than the Mortgageeexcept a holder of a Prior
Mortgage or by properendorsrment affixed to such policy and approved by the Mortgagce. Each policy of insurance shall have affixed thereto a
Standard hcw York Mongagee Clause Without Contribution making ap loss or losses under such policy payabk to the Mongagee as its
interest may appear_ In the event an~• sum or sums of money become payable thercunder the Mortgagct shall have the option to nceive and
apply fhe samo on account of thc indebtedness securcd hereby or to permit the Morigagor to receiv~ and use it or any part thcreof without
wa~v~ng or impairing any equity, lien, or right undcr and by virtue of this mortgage. In the event of loss or physical damage to the Property the
!~4ortgagor shall give immed~ate notice thereof by mail to the Mortgagee and the Mortgagee may make proof ofloss if the same is not promptly
made b~• the Mortgagor. In the event of forcclosure of this mortgage or other transfer of title to the Property all right, title and interest of the •
Mortgagor in and to the insi~rance policies shall pass to thc purchaser or grantee. .
7. If the A1ortgagor fails to perform his covenants and agreemcnts containcd in this mortgage, or if the Mortgagor fails to perform any duty
or obligation ansing undcr a Prior Mortgage (including the payment of principal and/or interest, deposits on account of taxes and insuranc~
premiums and late charges evcn thoitgh the holder ot the Prior Mongage has made no demand thereunder and has not threatened any action in
connection w•ith the same), or if any action or proce~ding is commtnced which materiatly affects the Mortgagee's interests in the Property.
inctud~ng but not limited to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent
abaodonment of the Propertp, then the Mortgagee at its option may pay to the holder of a Prior Mongage all or parts of the sums necessary to
bring the Prior Mortgage current, may make appearances, may enter upon and secure the Property, ma~ ~iisburse such other sums (induding
hut not limited to the payment of insurance premwms and taxes), and may take such otheraction as the Mortgagee reasonably deems necessary
or advisable to protect his interests in the Property, all without regard to the ~~alue of the Property. Any amounts disbursed bv the Mortgagee
pursuant to the provisions of this paragraph, together with interest thereon at the rate of sixteen (16%) per cent par annum shatt become
additionat indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and l~fortgagee agree in writing to some other terms
nf payment, such•amounts shall be payable immediately. \othing in this paragraph shall rcquire the Mortgagee to incurany expense, make any
disbursement or take any action whatever.
8. All proceeds of any award or claim for damages direct or consequential in connectioo with any condcmnation or any other tak~ng by
cminent domain of the Propeny or any part thereof, or for conveyance ~n lieu of condemnation or eminent domain are hereby assigned and shall
be paid to thc Mongagee. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) all proceeds received by the Mortgagce shall be•
applied to the sums xcured by this mortgage without imposit~on of any prePayment charge, and (b) thc application of procoeds shall not extend
or postpone the due date of installments of principal and interest or change the amounts thereof.
9. Any forbearance by the Mortgagee in exercising any right or remedy hereunder or otherwise afforded by applicab{e law shall not be a
waiver of or preclude the exercise of such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges or the
payment of sums under a Prior Mortgage by the Mortgagee sha!) not be a waiver of the Mortgagee's right to accelerate the maturity of the
indebtedness secured b~~ this mortgage. All remedies prowded in this mortgage are distinet and cumulative to any other right or remedy under
this mortgage or afforded by law or equity and may be exercised concurrently, independentty or successivcly.
10. To pay all costs charges and expenses including attorney's fees (whether or not litigation occurs and if it docs then those on appellate as
well as trial level) and abstract costs reasonably incurred or paid at any time by the Mortgagee b~cause of the failure on the part of the
Mortgagor to perform, comply with and abide by all ot his covenants set torth in this mortgage and / or the Note and/ or Prior Mortgage(s) and
the promissory note(s) secured thcreby.
1 I. The Mortgagee is a licensed mortgagc broker undcr Chapter 494, Florida Statutes.
BL II-A2 £ Prcpared by Stanley N. Spieler, Attorney, 4700 Bisca}•ne Boukvard, Miami, Florida 33137
R~OK `t•,~ PAGf J5~
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