HomeMy WebLinkAbout0970 ~;zs~o4 ~ ~
~~-1~~~~~qP s-,~,88z-4 ~ ~
~
MORTGAGE madr ~i~r ~ay b~iu~~ ~~i furth bct~+rcn th~ "~tortgagor brl~~w named an~ ~hr ~longagcc, ~tET!?OYOLIT'AN MORTGAGE
CO., a Florida corpora~ion.
WHEREAS, the Mongagor is indchtc~l to the ~tortgag~~e a~ evidenrcci by a rert:?in mzxigagr not~ (Note) of even date from the Mortgagor
io Mortgagee as d~scribed below.
To scrure to the Murtgagee the pertunnan~e by the Mortgagur of all his agr~ements a~ set forth in this Mortgage and the Note, the repay-
ment of the indebtedness evidenced by the Note, interest thereon, sums advanreci by the [vlorcgag~~c in accordance with the provisions ~f this
Mortgage to protect the lien and security thereof, and in!erest thereon, the klortgagor does hereby mortgage, grant and convey to the
Mortgagee the real property described below, together with (a) all easements, rights, tenements, hereditaments, rents, issues and proCus
appurentant thereto; (b) all buildings, structures and improvements now~ or hereafter located thereon; (c) all components thereof including
pipes, plumbing fixtures and equipment, electrical conduit and wiring and fixtures, hzating and cooling and air conditioning equipment and
fixtures, sprinkling and irrigation equipment and fixtures, mechanical equipment, pumps, fences and awnings; (d) range, oven, refrigerator,
dishwasher, washing machine, dryer. appliances, floor co~~erings and carpeting situate thereon ur iherein; and (e) all replacements and
additions to the propeny described in (b), (c) and (d) above: provided, however that no security interest is imposed upon after acquired
consumer goods as defined hy the Florida Uniform Commercial Code. To ha~e anJ to hol~1 the same unto the Mortgagee, its successors and
assigns in fee simple. All of the foregoing are herein collecti~•ely referred to as the "Pro~~rrty".
The h1ongagor covenants that he is lawfuliy seized of the estate hereb>• conveyed and he ha~ the right to mongage, grant and convey the
Property, that the Property is unencumbered except as ma~• be helow noted, and that ~he ~1.~rtgagor wiil warrant and dofend the title to the v
Property against all claims and demands. ~
;~:~:.b~e~r covenants and agrees as foUoN•s: ~
l. To promptly pay when due the principal o~ and interest on the indebtzdnes, evi~~n~~d b~~ the Note and prepayment and tate charges
as provided therein.
2. To pay all taxes, assessments, charges, tines and other impositions of go~ernmental authority against the Property within sixty (60)
davs of when due or six!y (60) days prior to the same be~oming delinyuent, ~~hichever may first occur.
3. lf it is noted below that this is a second or other subordinate ranked mortgage, thrn to promptly pay when due principal and interest
owing under mortgage(s) of higher prianry ('`Prior !~lortgage(s)"), to prumptly~ pay ro the holder(s) of Prior Mortgage(s) sums due on
account of taxes and insurance premiums as map be provided for under the provisions of the Prior htortgage(s), and to otherwise fully,
promptl}~ and campletely keep and perform all of the promises and covenants of the mortgagor under Prior Mortgage(s) and the promissory
note(s) scr.ured thereby; all of tfie forcgoing w•ithout regard to any wai~ers, c~tensions or indulgences granted by the holder(s) of Prior
Mortgage(s) unless w•ith the prior conscnt of the Alortgagee.
4. Not to apply~ to, request of, re~ei~e or accept from any holder of am Prior Murtgage an>~ money, funds or thing5 of value µ•hich
woutd, might or could be considered at an ad~ance secured by the lien of su~h Prior \turtgage.
S. Not to commit waste or permit ~~r suffer the impairment or deterioration of the Property; not ro erect or permit to be erected any new
buildings on the Properry or any structural alterations to existing buildings ~~ithout the Mortgagee's prior written consent; to comply with all
subdivision restrictions and zoning and vther regulatory la~~s and ordinanr~c affecting thr ProExrty. If the Property is a condominium unit,
the htongagor shall pr~mptly and cor~i~letely perform all of his obligations under the ~rclaration of condominium and the condominium
association's articles of incorporation. by-laws and rules and regulations and other constituent condominium documents including but not
limited to the payment oC all regular and speciaf assessments, the liens for w~hich agains; the Property might or could have priority over tfie
~ien of this mortgage. lf the Property is part of a planned uni~ de~~elopment, the !~tortga~ur shall promptly comply with all provisions of the
declaration of covenants and restriction~ e.tablishing the same and shall promptly fultill all his obligations under the constituent documents
of the planned unit development inrluding the homeoNnerc a,.ociation's or i~ti e:~uivalcn~'ti articles and by-laws and shall promptly pay all
assessments or charges of every nature (no matter how de~ignated) the lien Io~ ~+hiih again,t the Property might or could h3ve priority over
the lien of this mortgage.
6. To keep all the Property insurcd as may be requirrd from time to timr b~ the ~l«rtgaeee against loss by fire, w~indstorm, hazards,
casualties and contingencies for such prriods an~i fc~r not le,s than such amount. a~ ma>~ I~e ra,onably required by the Martgagee and to pay
promptly ~~hen due all pre~iums for su~h insurance. The ~lortgagor agree~ to ~e~i~er ren~ ~+:~I ur replacement policies or certificates therefor
to 4he Mdngage~ at lqst fiReen I 15) da~. ~rior ta the exniration or anni~ ersar~~ clate uf chr r.isting policies. The amounts oi insurance required
by the R~ffortgagee shall be minimum amuunt~ for which ~aid insurance shall he ~tiritten ans it ~hall be incumbent upon the Mortgagor [o main-
tain a~~h additional insurance as may be necessary to meet and comply full~ ~+ith all .o-i~ ~urance requirements contained in said policies to
the end that the Mortgagor is not a co-~nwrer thereunder. Insurance ma~~ he ~•rittrn h>~ a ~um~am• or companies approved by the Mortgagee
(w•hich approval shall not be unreasonahh~ H~ithheld) and all policies and rrnr~als ahall be he{d by the Mortgagee unless in the possession of a
holder of a Prior Mortgage. All detaile~ designations bp the I~tortgagor ~hi~h are accepted by the l~tortgagee and al! agreements between the
.Liortgagor and Mortgagee relating to imurance, noN existing or hereafter mad~, shall be in writing and shall be a part of this mortgage agree-
ment as fully as though set forth ~erbatim herein and shall govern both partirs heretu. No lien upon any policy of insurance or upon any~
refund or return premium w•hich may be par~able on the ~•an~ella~ion ~r termination thereof shall be gi.en to other than the Mortgagee except
` a ho:der of a Prior Mottgage or by pro~er endorsement af
~sed to such poliry and approseel b~• the ~tortgagee. Each policy of insurance shall
have aff•.xed thereto a Standard New Yurk ~1ortgagee Clau;e ithout Contribution making al! loss or losses under such policy payable to the
tiiortgagee as it~ interest may appear. In the event any~ sum or sums of moncy become payable thereunder the Mortgagee shall ha~e the option
€ to receive and apply the same on account of the indeptednes~ ~ecured hereb~ or to permit the !~1ortgagor to recei~~e and use it or any part
~ !hereof without wai~•ing or impairing an> cyuity, lien, or ri~ht under and bp ~inue of thi~ mortgage. ln the e~ent of loss or ph~~siral damage to
ehe Property the Mortgagor shall ~i~~e immcdiate noiice thcreo( by mail to thr ltortgagce and the ~tortgagee may make proof of loss if the
Same is not promptly made by the Mortgagor. In the e~ent of foreclosure of ~his mortgaee or other transfer of title to the Property ail right.
~ ti~ and interest of the ti1ortgagor in and ro the insurance ~licies shall pati~ to the purchaser or grantee.
~ 7. 1f the ~lartgagor fails to perform hiti co~enants and agreements contained in thi~ mnrtgage, or if the ~tortgagor fails to perform an~
~ duty or obligation arising under a Pri:~r ~tortgage (including the pa~ment o( principal and.- or interest, deposits on account of taxes and
~ insurance premiums and late charge~ e~cn though the holder of the Prior 1longage has made no demand thereunder and has not threatened
~ ar~y action in connection with the same). ~~r if an}• action or proceeding is commenced w•hich materialh• affectc the ~1ortgag~e's interests in the
~ Yroperty, including but no; limited to eminent domain or code enforcement or arrangements invoh ing a bankrupt or decedent, or if there is
~ an apparent abandonmen[ oi ihe Propeny, then the Mortgagee at its option may pay to the holder of a Prior ~tortgage all or parts of the
~ums neces~ary to bring the Prior '~tortgage current, may make appearances, rr.ay ent:r upon and secure the Property~, maq disburse such
~ ;~ther sums (including but not limited to the payment of insurance premiums and taxes). and may take such other action as the Mortgagee
~ rzasonabl} deems necessary or advi~ablr tv protect his interests in the Property, all without regard to the ~•alue of the Propert~~. Any amounts
~ disbursed hy~ the Mortgagce pursuant to the pro~icions of this paragra~~h, tugether ~~ith intere~t thereon at the rate «i 12.90 (kr cen~~
per annum shall become additional indebtedness of the Mortgagor serureJ by this mortgage. lJnless thc Mortgagor and ~lortgagee agree in
Hriting to tiome ~tF~er terms of payment, wch amounts shall be payable immc~iiately. Nuthing in this paragraph shall require thr Mor:gagee
to incur any expense, make any~ disbunement or take any a~tion whate~•er.
~ 8. All proceeds of any aHard or claim for damages direct or consequential in connection w~ith any condeinnation or any other taking b}
~ eminent domain of the Property or any part thereof, or for con~~eyance in lieu of condemnation or eminent domain are herrb~• .~~signed and
shall be paid to the Mortgagee. Vnless thr !~lortgagor and Mortgagee otherwi,e agree in writing (a) alt proceeds received by the !~1ortgage~
` ~hal! be ap~lied to the sums se~ured by ihis mortgage without imposition o~ an~~ prepaymcnt charge, and (b) the application of proceeds shall
~ not extcnd or ~wstpone the due date o( installments of principal and interest or rhange the amoants thereof.
~ 9. Any forbearance by the Mortgagee in exercising any right or remedy hereunder or otherKise afforded by appticable law~ ~hall not be a
~ •.+aiver of or preclude the exercise of such right or remedy. The procurement ol insuranre or the payment of taxes or other liens or charges or
[he a ment of wms unchr a Prior :.'iort a e b the titort a ee shall not be a waiver of the Mort a ee's ri ht to accelerate ~he maturit of the
~ P Y K 8 Y 8 K B 8 B Y
~ indebtedne,s secured by this mortgage. A;I remedies provided in this mortgage are distinrt and cumulatiti~e to any other right or rrmecly under
this mortgage or affordcd by law or ec{uity and may be exercised concurren~l~, independrntly or successively.
~ 10. To pay all c~sts chargc~ and expenses induding attorney's fres (whethcr or not litigation occurs and if it does then thusc ~~n ap~xllatr
~ as µell as ~rial Ievel) and abstract costs reasonably incurred or paid at any time by ~he Mortgagee berause of the faiture on thr part of thr
~ tiiortgagor to pcrform, comply with and abide by all of his co~enan~s set furth in this mortgage and/o the Note and/or Prior Mortgage(s)
~ and the prumi~.ory notei•~) ,crured thcreby.
~ 1 I. T!;c '~lortg~~ree is a licensed r~~~r.gage hrol.er under Chapter d94, I~lorida Statute~. {+K ~"'f ~ r {]CO
R~~K 1 Pa~E J~O
~
ts1 I I x2 I',cparc~ i,} Si~nlc:.' H. Spicl~r. Alinrne}. 4700 li~.caync Ii~wlctiaiJ. Mianu. I lurida 11~17
~
- - - . - r~:~d'~ ar,~~. ~~H::''`.~?.~+'.'~-s'"Y""~'
~
_