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Home My WebLink About0920 ~ _ i ~ . ~~%`~~~~J 5-68, 748-3 , . . - ' ~~~.~t~~.u~ ~fOR1 GAGE maue thr day brlow sct forth bttween the ~lortgagor below named and the Mortgagrc, METROPOL!TAN MORTGAGE t'O.. a Flonda corporatiun. W H F R E AS, the ~lurtgagor ~s indebted to the Mortgagcc as evidenced by a certain mortgage note (Note) of evon date from the Mortgagor c~~ ~tortgagee ac drscnbed t~low. Tu srcurc tu the'~turtgagee the perfurm:~nce by thr Mortgagor of all his agreements as set forth in this Mortgage and the Note, the repay~ment ,~t thr indrbtrdness e~idrncgd h~• the \ote, intercst thereon, sums ad~~anced bp the Mortgagee in accordance with the pro~~isions of this ~t~~rtgage to protert the lien and security thereof, and interest thereon, the Mortgagor does hereb}• mortgage, grant and con~~ey to thr ~lurtgagee the re~l pruprrt} drscnbed below~, tog~ther with (a) all easement~, rights, tenements, hereditaments, rents, issues and profits .+~purentant theret~~; (b1 :~II buildings, structurts and impro~ements now or hereafter located there.~n; (c) all components thereof including ~~pe~, plumbing lixtures and eyuipment, rlectrical conduit and wiring and fixture~, heating and cooling and air conditioning eyuipment and tutures, spnn~,ling and irrigation eyuipment and fixwres, mrchanical equipment, pumps, fences and aw nings; (d) range, oven, refrigerator, ~i~,hNasher, wash~ng marhine, dryer, appliances, floor co~erings and carpeting situate thereon or therein; and (e) all replacrments and .~~id~uons tu the prupert} descrihed in ~b). (c) and Id) abo~e: pro~ided, huw•e~~er that no ,ecurity interest is imposed upon after acyuired ~ un,umer g~~ods as drfined b~• the Florida Uniform Commereial Code. To ha~e and to hold the same unto the !~tortga~ee, its successors and .~.,igns in fte simplr .All uf tht forego~ng are herein coUecti~el~~ referred to as the "Propert~•". The ~lurtgagur comenants that he is lawfully seized of the estate hereby con~~eyed and he has the nght to mortgage, grant and convey the Proprrt}, that the Propern ~s unencumbered except as ma~~ be below noted, and that the Mortgagor ~~ll warrant and defend the title to the F'ropert}~ against a~l cla~ms and demands. And the '~tortgagor co~enants and agrees a~ ~vilow~s: I. To promptl~• pay when due the pnnc~pal of and ~nterest on the i~~.;e~~z.;~iis~ ~~:~"c.~ `J *'~c~ Ys~Y~; :^:~r:c ~^a !~tc ~!:arg_s ~s pro.ided therein. 2. To p;~y all taxes, assessm: nts, charges, fines and other impositions of governmental authorit~~ against the Propert~~ w~ithin sixty (60) days .~t when due or sixt}~ ~60) day~s pnor to the same becoming delinquent, whiche~~er ma~• first occur. lf it is noted below that th~s is a second or other subordinate ranked mortgage, then to promptlp pay when due principal and interest .~u ~ng under mortgage(s) of higher priont~~ ("Prior Mortgage~s)"), to promptly pa~~ to the holder(s) of Prior Mortgagt(s) sums due on account of :axe: and ~nsurance premiums as ma}~ br pro~ided for under the provisions of the Prior Mortgage(s), and to otherw~?se fully, promptly and ~ umplctel~• keep and perform all of the promfses aad convcnants of the mortgagor under Prior Mortgage(s) and the promissor}' note(s) secured ti:ereby; all of the foregoing without regard to an~~ wai~ers, extensions or indulgences granted by the holder(s) of Prior Mortgage(s) unless with che pnor consent o( the 4lortgagee. -3. \ot to apph to. request ot, recei~e or accept from an}• holder of any Pnor Mortgage any mone~•, funds or things of value which would, r;~:ght or cuu!d be considered as an ad~ance secured by the lien of such Pnor ~lortgage. 5. \at to commit waste or permit or su[fer the impai: ment or deterioration of the Property; not to erect or permit to be erected any new h;;~ldings on the Propert}• or am• structural alterations to exist~ng buiia~ngs witnout [ne :iurigagrc`s p~iur iiicu cor~sc~ii, iu cui~i~ij wiii~ e~i :~hdi~ ision re~tn~t~ons and zoning a~d other re3ulator~ laws and ordir.ances affecting the Propert~~. lf thc Property is a condominium unit, the ~lortgagor shall,promptl~~ and completel}• perform all of his obligations under the declaration of condominium and the condominium :~,s~ciation's articles of incorportation, by-laws and rules and regulat?ons and other con~tituent condominium documents including but not ~~mired ta the pa~ ment of all regular and special assessments, the liens for which against the Property might orcould ha~~e priority~ over the lien of r hi~ mortgage. If the Property is part of a planned unit development, the Mortgagor shal! prompth• comply With all provis~ons of the declaration ~~f co~~enants and restrictions estab~ishing the same and shall promptly (ulfill all his ob~igat~ons under the constituent documents of the planned ~ unit detelopment including the homcowners association's or its equi~~alent's articlcs and by~-laws and shall prompNy~ pay all assessments or ~harges of c~~er} nature (no matter how designated) the lien for which against the Property might or could have priority over the lien of this :n~>rtgage. b. To keep ali the Propert~• insured as may be reqwred from time to time by the Mortgagee against loss by fire, windstorm, hazards, ~ ~asualties and conungencies for such periods and for not less than such amounts as may be reasonably required b}~ the Mortgagee and to pay o ~romptl}• W hen due all premiums for such insurance. The ~lortgagoragrees to deli~•er renewal or replacement policies or certificates therefor to ~ ~ h: ~tortgagee at least Cifteen ( I S) day~s prior to the expiratien or anni~•ersary date of the existing policies. The amounts of insurance required by ~ : he ~iortgagee shalt be rninimum amounts for ahich said insurance shall be written and it shall be incumbent upon the Mortgagor to maintain 4 ;uch additional ~nsurance as ma~• be necessar~ to meet and complJ• [ull}• with all co-insurance requirements contained in said pohcies to the rnd b r h:ar shr 11nrcQaQOr is not a co-~nsurer thereunder. lnsurance may~ be written by a company or companies appro~~ed by the Mortgagee (which i :ir pro~~al shall not be unreasonabl~ withhPld) and all pol~ci~s and renewals shall be held by the Mortgagee unless in thc posszssion of a holder of ! Prior liortgage. All detailed des~gnations b}~ the Mortgagor w~hich are accepted by the'Nortgagee and aU agreements between the Mortgagor ~ a nd Mortgagee ~elatingto insurance, now exisnng or hereafter made, shall be in wriung and shall be a part of this mortgage agreement as fully as :hough s:t torth verbatirti here~n ard sha! go~ern both paR~es hereto. ':`o lien upon any polic~• of insurance or upon any retund or return ~rem~u:n which may~ be pa}~able on the canc~llation or termination thueof shall be given to other than tht Mortgagee except a holder of a Prior ~ `.f ortgage or by proper endorsement aff~xed to such policy~ and approved by the Mortgagee. Each policy of insuranct shall have afiixed thereto a E :itandard \ew• York '.~tortgagec Clause Witho~t Contnbution making all loss or losses under such poticy payable to the Mortgagee as its ~ :r.tercst ma}~ appear. In the e~•ent any sum or sums of money become payable thercunder the Mortgagee shall have thc opt?on to receive and apply the same on account of the indebtedness secured hereby or to permit the Mortgagor to receive and use it or any part thertof without w a;~ ~ng or impairir.g any equit}•, lien, or right under and by virtue of this mortgage. In the event of loss or physical damage to thc Property the ~ ~i ortgagor shall g~~e ~mmed~ate not~ce thereof by mail to the Mortgagee and the Mortgagee may make proof of toss if the same u not promptly ~ ^~ade b~ the ~lortgagor. In the event of foreclosure of this mortgage or other transfer of title to the Property all right, title and interest of the ~1c~rtgagor in and to the insvrance policies snall pass to the purehaser or grantee. ` ? Ii the \lortgagcr (aiLs to per~orm his cocenants and agrecments contained in this mortgage, or i(the Mortgagor fails to perform an}~ dutp ~ ~~r ob{igation ans~ng under a Pnor !~lortgage (including the payment of principal and or interest, deposits on account of taxes and insurance ~ ~remiums and late charges e~en though the holder of the Pnor M~rtoaoP hac made nodemand thereunder and has not threatened anyaction ~n ~~}nnecuan with the samel, or if ent~ action or proceeding is commenced which materially affects the Mortgagee's interests ~n the Property~, ~ nclud~ng hut not limited to eminent domain or co~e enforcement or arrangements involving a bankrupt or decedent, or if there is an apparent .,handonment of the Pronert}, then the 1lnrtgagee at its option may pay to the holder of a Prior Mortgagt all ar parts of the sums necessary to ~ -r:r~e the Pn~~r ~lorteage current, ma}• make appearances, ma}~ enter upon and secure the Property, may disburse such other sums (including -~.;t not I~mited ta the pa} ment of insurance premiums and taxesl, and ma~~ take such other acticn as the Mortgagee reasonabl~ deems necessar}~ ~ ~r ad~ isable to pratect his interests in the Propert~~, all without regard to the ~alue of the Propertp. Any amounts disbursed b}~ thr ~iortgagee nunuant to the pro~~sions of this paragraph, together w•ith interest thereon at the rate of eighteen (1R~r) per cent per annum shaU become • .:~lditional indehtedness of the ~tortgag.~r secured b}~ this mortgage. l,'nless the Mortgagor and '~lortgagee agree in wnting to some other terms ~ t r.~a~ n~ent, such amounts shall be pa}~able immediatel}~. \othing in this parngrapii ~iiall require the ~lortgagce to incur an: expensc, make ar.} i.>bursement or take an~ action wnate~~er. , 8. All proceeds of any award or claim for damages direct or consequential in connection with any condemnation or any other tak~ng by ~•minent domain of the Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and shall ~ h; paid to the ~lortgagee. Unless the Mortgagor and Mortgagee othtrwise agree in writing (a) all procecds recei~~cd by the Mortgagee shall be ~ ~ applfed to the sums secured by this mortgage without impos~t~on of any prepayment charge, and (b) the application of proceeds shall not extend ~ ~~r postpone the due date of installments of principal and interest or change the amounts thereof. ~ 9. An}• forbearance by the '~tortgagee in exercis~ng ary right or remedy hereunder or otherwise atforded by applicable law shall not be a ~ a ai~er 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 ~ navment of sums under a Pror Mortgage by the Mortgagce shall noi be a waiver of the Mongagee's right to accelerate the matunty of the i` :ndebtedncss sccured b}~ th~s mor:gage. All remedies provided in this mortgage are distinct and cumulative to any other right or remedy under ~ this mort a c or affurde~ b~ law or e uit}• and ma ~ be exercistd concurrentl inde rndentl • or successi~~el , B S 5 q 5 Y. P S Y- ~ 10. 7'o pay all costs cha~ ges and expenses including attornev s fees (whether or not litigation occurs and if it does then those on appeltate as ~ well as trial leve,) anJ abstract costs reasonabiy incurred or paid at any time by the Mortgagee because of the failure on the part of the ~ `.!ortgagor to perform, com~iy with ard abide by all of his covenants set forth in this mortgage and ~ or the Note and;' or Prior Mortgage(s) and ~ .h~ pronisso~y notelsi secured thereby. I l. The ~1~~rtgagee ~s a iiccnsed mertgage broker under Chapter 494, Florida Statutes. ~~j 44~ Q~~~ y~ Zxi = Prepared h~ Stanle~ H. Spicltr. Attornev, 470U Biscayne Boulevard, '~tiami, Florida 33137 i . _ _ . ~ . . _ . __..e