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Home My WebLink About1551 PROVIDEU, ALWAYS, lhat if the Mortgagor ehall pay unto the hiortgag~ ilie indebtedncRe evide~?ced b}' a certain promi~aory note o[ wluch the follawing in words and fi~n~rea ie a true copy to-wit: ~G~~~B ~A~ - - ~ ~T'TQ~•~. Miami, Florida J~~~u = 19 ~ FOR VALUE RECEIVED ~Q~I.Y ~$~~~.I,Y promise to pay to the order a[ 1~,-;~::1 ;:,i;iiICK - - ' i,`, the principal sum of 0~ Z~~U$~~~ ~0 1~OLLARS, together with interest ~ ihereon from clate at the rate oE ten percent. per annum until maturity~, both principal and interest being payable in ~ la~tiEul money of the United States at `~03 Roper Building, Ilfiami, Florida. or at such other place as the holders hereoE may designate in ~r•riting. Principal and interest payable in installments as foltows: th~~#~ 8~ ~ o~~ ~.1~ ~ ~ ~ oin~~ 13~h day ot •aah a~ i~e~ moa~ th~~~~t't~iei ux~til paid in tts~~ ~ "l~his note niay be ~~repaicl ii~ ~~•hc~le ~n' in ~rirt .~fter c~ne }'e:u~ lr~m~ the ~late hereof u~x~n ~>aymeni of a E~ei eyui~~alent to t~i•<, E~rrcent c,t the ~~rinci~~al su~n l~repaid. ~:ach instailment payment shail be credited first on the interest due, and the remainder on }~rincipai; and interest shall thereupon cease upon the principal so credited. The makcrs and endorsers of this note further agree to waive demand, notice of non-payment and protest, and in the event suit shall be brought for the collection hereof, or the same has to be collected upon ciemand of an attorney, to pay reasonable attorney's fees for making such collection. , Deferred payments hereunder shall bPar interest at the rate of ten percent. per annum from maturity until paid. ~ This note is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the State of Florida; upon deEault in the payment of principal and/or interest when due, the whole sum oE principal ancl incerest remaining unpaid shall, at the option of the holders, become immediately due and payable. JIMMIE R. DI~MOND (SEAL) RUTH DIAMOND ~sEAL) and sliall perform, comply with and abide by each and every the etipulationa, a~reerr~enta, conditfiona and cavenants of saicl promisaory note and of this deed, then thie deed and the eatate thereby created Ehall ceaee and be nnll aud voi~l. 1. The hiortgagor hereby covenante and agrees: (a) To pay oll and tinEular tht prineipal tnd interut and other •nm~ of moaey payable by ~•irtue o( eaid promiaaory not~ aad this deed, or either, prompilp on the daqs rapectivel~ the esme reverall~ betomes due. (b) To ptrmit, commit or suL'fer no wnate aad !o mai`~~~!+ ihe improvemPn~! ¦_1 ~1_) time~ i~ e ehte ot ~ood renair and eonditien; and to do or pcrmit to bc done to wid premiaa nothin that will dtsr or ehan6e tht nae and charaeter of aaid proptrt~ or in any way irnpair or weaken the e~ecnrity o( this mortas6e. An~ in we of the refuaal, nealeet or inebilit~ of the Mori~s6or to repair and maintaiu ; said propeny, the Mon6a6ee ~r?~~~ at hia opti~n, m~ke ~neL rep~irs or unae the sune to be made, a~ed advance wone7a ia tbat behalf. (c) To pay ell and sin6ular ths texa, aaaesameau, leviea, liabilitiea, and obliaatione of everT oature on said daeribed preperty each and every when due end payable aceordina to l~w, before they beeome delinquent, ¦nd to ,deliver to the Mortaa6ee on or betore March 15th of each year tu reeeiptt evidencina the paqmeat of all Iawfully impo~ed texes for the precedin; talendar yar; to indemnify the ~ hiori6~6ee upon hi• demand for all tsxea, uaeasmenta and ehar6a that m~y be aeses!ed upon thii moRplqe on t~e indebiedaeaa eecured hereby, and paid by the mort6aRee, without re6ard to any low heretofore enacted or hereafter to be enaeted impoein6 pa~mtnt o( the = whole or any part thcreof upon thc Mort6agee. (d) To p~~ ~11 and eia6uler the co~ta, char6es aod e:peaaea, iodudi~6 lawpero' teu ond abftnct eosts reasonablp incarred or gaid et any time by the Mon6agee becauae of the failnre on the part of the Mort6aaor to perfoesn, caaiply with aod abide by e+ich and every mi o note and thia d d or eit~er aed eve euch ent eha11 the stipulationa, a6reements, cond~teons and tocenants of aa~d pm ea ry ee , , ry paY~ be~r interut (rom clate at the rate of ten per centum per ennttm. (e) It is funher covenanted and eEreed by ssid pania that in the ecent of a suit bein6 inatituted to foreelost thie mort6,,e6e, the Mort- E~b~e sha? be cntiQed to apply at any time pendiu~ sath toreelosure suit to t}~e tourt havinE jurisdittion ebereof for lhe ~ppoiotmmt of a receiver of all and ain6nlar the mort6a6ed property, ond of all rems~ inco~aea, pro8ts, usura and revennes the~eaf, from nhataoever aource deri~~ed; and thereupon it ie hereby expreaely eovenanted and ¦~rud that tbe Court ahall forthwith appoint euch reeeiver wilh the uauel powere ~nd duties oi rcceivers in like caaa; and w1d ~ppointment ab~ll be made by the touK as a matter of etriM ri6ht to the Mort~gee, and without rcfercnce to the adeqnaey or inadtqwey of the value oi the property hereby mort6aged, or to lhe eolvency or inaolveney of the M~rtgagor6 or any other partq de[eadant to eueh 6uit. The A+Iort6s6or htreby epeeificallq waivea the right to object to the appointment of a recei~•er aa aforesaid and berebq expresely conamts that ench appointment ehall be made ae an admitted equity ~nd aa a matttr of absolute ri6ht to the Mortaa6ee and th~t the 6~me maq be done without notice to the Mort6aaor. ? ; (f ) If (oreclosure proc~edinEa ahould be inetituted a6alnat thep~ ope rty covered by thia moriga6e apon aey other lien or claim whether ; alleged to be superior or junior to the lien of this mort6a6e, the Mon6a6ee moy ¦t hi"s option immediately upon inntimtion o[ such s auit ot durin6 ihe pendency thereof dcclare this mort6aae and tbs indebtedness stcared htrtb~ dae and pa~able forthwith and may st ! ite option proceed to forecloee ihit mortEa6e. - (6) That the :Viort6e6or wi? keep all red and penonal property now or 6ereafter e4~umbered by the lien of thia mort6aae ineured aa ma~ he required irom time to ti?ne by the Mortaa6te asaintt lose bq fite, windstorru and other has~rds, casualtiea and contingenciea for eaeh perioda and for not leas thsn suc6 amounea as nsa~ be reqnired br ~he Morc6agee and to paq prompdy when dne all prcmiumn for such inaurance. The amounts of insurance reqairtd b~ the Mortaaaee ehall be ihe minimtun amounta for which aaid insurance ehall be written and it sh~ll be incumbent upon the Mort~a6or to mzintain aneb sddiUonal innnnnct ae may be nECeaaary to meet and comply fully wi~h all co•inauranee reqnirementa conuined in said policiea to the end that the said Mortgagor is not a co-inanror thereunder. Ineurance s6alt' be writteu bq a tomps~y or eompaniea approved or deei6nated by tbe Mort6a6ee and all polieiea and rencwala thereoi ; ahall be held by the Mortga6ee. All deuiltd deaianatiom b~ tbe Mort6aaor whic6 are aeeepted by the Mort6a6ee and all a6retntente ? between Mort6agor and Mortgagee rclatin6 to irunraace, now e~atin6 or hereafter made, eball be in writin~ and e6all be t part of thie ~ mort~age agreement ea fnlly a6 thou5h eet forth verbatim berein and shall 6overn both parties hereto and their wcceaeor6 ~nd 86616[lE. t No lien upon any of esid polieiea of inaurance or upon an~ rofnnd or reWrn premium which may be payable on the cancdlation or ~ termination thereof, ahall be 6iven to other than the Mort6a6ee, except by~proger endoreement af6zed to snc~ poliey and approved by _ j 5lortga6ee. Earh policy of inaurance eheil haze aff'ized thereto a Standard New York Mortga6ee Cl~uee withont Contribution, makioq all losa or loeaea nnder euch policy payable to the Mort6agee ae ita intereat may apptar. In the e~ent any eam or eume of money becomc ~ payable thereunder the Moriga~ee shall have the option to recei~e and apply 1he eame on account of the indeb[edncas hereby eccured, _ ~ or to permit the Mort6a6or to rtceive and uae it, or any part thereof, witliont thereby waivinb or itnpairinE any eqnity, lien~ or ri6ht k uader and by virtue of thia mortgaac. In evcnt of loas or phytical dan~a~e ro the mortRaged propertp the Moriga6or ehall 6~ve imme- di~te notice thereof 67 m~il to the Mort6aace and the Mort6agee may make proof of losa if the dame is not made promptly by the ~ _ t ~ ~ ~ ~ ~ . 8'0~ x ~ ~:t 1 ~45 . f . .