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MORTGAGE made the day lxlow sct iorth between the ~tongagor brlow named and the Mortgagee, METROPOLlTAN MORTGAGE n~
CO., a Florida corporation. ~
WHEREAS. the Mortgagor is indebted to the hiortgaga as evidenccd by a certain mortgage note (Note) of even date from the Moctgagor 3'
to Mortgagee as deuribcd below.
To secure to the Mortgaga the performance by thc Mortgagor of all his agreements as set forth in this Mortgage and the Notc. the repay-
ment of the indebtedness evidcnced by the Note, interest thereon, sums advanced by the Mortgaga i~ accordance with the provisions of this
Mortgage to protcct tt~c lien and security thereof. and interest thereon, Ihe Mortgagor does hereby mortgage~ grant and conv~_v to the
Mortgage= the real property dcscribed below, together with (a) all easements, rights, tenements, hereditaments. rents, issues and profits
appurentant thereto; (b) all buildings~ structures and improvements now or hertatter located theroon; (c) all componmts thereof including
pipa~ ptumbing fixtures and equipment, electrica! conduit and wiring and fixtures, heating and cooling and air rnnditioning equipment and
fixtures, sprinkling and irrigation equipment and fixtures. mechanical eqaipment. pumps, fences and awnings; (d) range, oven. refrigtrator,
dishwasher, washing machine, dryer~ appliances. floor coverings and carpeting situate therean or therein; and (e) al! replacements and
additions to the pra~seny described in (b). (c) and (d) above: provided. however that no security intercst is imposed upon after acquired
consumer goods as defined by the Florida Uniform Commercial Code. To have and to hold the same unto the Mortgager, its succeswrs and
assigns in fee simple. All of the foregoing are herein collectively roferrM to as the "Propeny"
The Mongagor covenants that he is lawfulty seized of the atate hereby conveyed artd ht has t.`.r right ~o mortgage. grant and convey the
Property, that the Property is unencumbered except as rrza~ be below noted, and that the Mortgagor will v?arrant and defend the title to the
Property against all claims and demands.
And the Mortgagor covenanls and agrees as foll~~ws:
1. To promptly pay when due the principal of and interest on the indebtedness evidencrd by the Note and prepaymGnt and late charges
as provided therein.
2. To pay all taxes. assessments, charges. ~na and other impositions of governmental authority against the Property within sixty (60)
days of when due or sixty (60) days prior to the same becoming delinquent. whichever may first occur.
3. If it is noted below that this is a second or other subordinate ranked mortgage, then to promptly pay when due principal and interest
owing under mortgage(s) of higher priority ("Prior Mongage(s)"), to promptly pay to the holder(s) of Prior Mortgage(s) sums due on
account of taxes and insurance premiums as may be provided for under the provisions of the Prior Mortgage(s), and to otherwise fuily.
promptly and completely keep and perform all of the promises and covenants of the mortgagar under Prior Mongage(s) and the promissory
notKs) secured thereby: atl of the foregoing withaut regard to any waivers, extensions or indulgences granted by the holder(s) of Prior
Morigage(s) unless with the prior consent of the Mortgagee.
4. Not to apply ta, request of, receive or accept from any holder of any Prior Mortgage any money, funds or things of value which
would, might o~ could•be considered as an advance secured by the tien of such Prior Mortgage.
S. Not to commit waste or permit or suffer the impairment or deterioration of the Propeny; not to erect or permit to be erected any new
buildings on the Propeny or any structural alterations to existing buildings without the Mortgagee's prior written consent; to comply with all
subdivision restrictions and zoning and other regulatory laws and ordinances affecting the Property. It the Propzrty is a condomir~ium unit,
the Mortgagor shall prompt[y and completely perform all of his obligations under the declazation 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 of all regular and special assessments, the liens for which against the Property might or coutd have priority over the
lien of this mortgage. If the Property is part ota planned unit development, the Mortgagor shall prompily comply with all provisions of the
declaration of covenants and restrictions establishing the same and shall promptly fulfill all his obtigations under the constituent documents
of the planned unit development including the homeowners association's or its equivalent's articles and by-laws and shall promptly pay all
assessments or charges oP every nature (no matter how designated) the lien for which against the Propeny might or could have priority over
the lien of this mortgage.
6. To keep al! the Property insured as may be required from time to time by the Mortgagee against loss by fire, windstorm, hazards,
casualties and contingencies for such periods and for not iess than such amounts as may be reasonably required by the Mortgagee and to pay
promptly when due all premi~ms tor such insurance. The Mortgagor agrees to deliver renewal or replacement policies or certi5cates therefor
to the Mortgagee at least fifteen ( IS) days prior to the expiration or anniversary date of the existing policies. The amounts of insurance required
by the Mortgagee shall be minimum amounts for which said insurance shall be written and it shall be incumbent upon the Mortgagor to main-
tain such additional insurance as may be necessary to meet and com~ly fully with all co-insurance requirements contained in said policies to
the end that the Mortgagor is not a co-insurer thereunder. Insurance may be written by a company or companies approved by the ~Iortgagee
(which approval shall not be unreasonably withheld) and all policies and renewals shall be held by the Mortgagee unless in the possession of a
holder of a Prior Mortgage. All detailed designations by the Mortgagor which are accepted by ihe Mortgagee and all agreements between .:.c
Mortgagor and Mortgagee relating to insurance. now existing or hereafter made, shall be in writing and shall be a part of this mongage agree-
mtnt as fully as though set forth verbatim herein and shall govern both parties hereto. No lien upon any policy of insurance or upon any
refund or return premium which may be payable on the cancellation or termination thereof shall be given to other than the Mortgagee except ;
a ho[der of a Prior hiongage or by proper endorsement af.fixed to such policy and approved by the Mortgagee. Each policy of insurance shall
have aftixed thereto a Standard New York Mortgagee Clause Without Contribution making all loss or losses under such policy payable to the
Mortgagee as its interest may appear. In the event any sum or sums of money become payable thereunder the Mortgagee shall have the option
to receive and appty the same on account of the indeptrdness secured hereby or to permit the Mortgagor to receive and use it or any part
thereof without waiving or impairing any equity, lien, or right under and by virtue of this mortgage. In the event of loss or physical damage to
the Property the Mortgagor shall give immediate nocice thereof by mail to the Mortgagee and the Mortgagee may make praof of ~oss if the
same is not promptly made by the Mortgagor. tn the event of foreclosure of this mortgage or other transfer of title to the Pro~erty all right,
title and interest of the Mortgagor in and to the insurance policies shall pass to the purchaser or grantee.
7. If the Mortgagor fails to perform his covenants and agrcements containrd in this mortgage, or if the Mortgagor fails to perform any
duty or obligation azising under a Prior Mortgage (including the payment of principal and/or interest, deposits on account of taxes and
insurance premiums and late charges even though the holder of the Prior Mortgage has made no demand thereunder and haz not threatened
any actio~ in connoetion with the same), or if any action or proceeding is commenced which materially affects the Mortgagce's interests in the
~ Property, including but not limited to eminent domain or code enforcement or arrangements involving a bankrupt or decedent, or if there is
an apparent abandonment of the Property, then the Mortgagee at its option rnay pay to the holdcr of a Prior Mortgage al! or pans of the
~ sums necessary to bring the Prior Mortgage current, may make appearances, may enter upon and secure the Property, may disburse such
other sums (including but not limited co the payment of insurance premiums and taxa), and may take such other action as the Mortgagce .
reasonably detms necessary or advisable to protect his interests in the Property, all withoUt regard to the value of the Property. Any amounts i-~
disbursed by the Mortgagee pursuant to the provisions of this paragraph, together with interest thereon at the rate of 10.90 per cent
per annum shall become additional indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgagee agrce in
writing to some other terms of payment. such amounts shali be payabte immediateiy. Nothing in this paragraph shal! require the Mortgagee
to incur any expense. make any disbursement or take any action whatever.
8. All proceeds of any award or claim for damages direct or consequential in connoction with any condemnation or any other taking by ~
~ eminent domain of the Property or any part thereof, or for conveyance in lieu of condemnation or eminent domain are hereby assigned and ~
shall be paid to the Mortgagce. Unless the Mortgagor and Mortgagee otherwise agree in writing (a) al) procceds rcceived by the Mortgaga '
shatt be applied to the sums secared by this mortgage without imposition of any prepayment charge. and (b) the application of proceeds shall
~ not eztend or pustpone 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 rcmedy hereunder or otherwise afforded by appticable iaw shall not be a
waiver of or preciude the exercise of such right or remedy. The procurement of insurance or the payment of taxes or oth~r liens or charges or
the paymeni of sums under a Prior Mortgag,e by the Mortgagee shall not be a waiver ot the Mortgagee's right to accelerate the maturity of the
indebtedness secur~d by this mortgage. All remedics provided in this mortgage are distinct and cumulative to any other right or remedy under
this mortgago or afforded by iaw or equity and may be ezercised concunently. indepenclently or sueeessively.
10. To pay atl costs charges and eapensts including attorney's fees (whether or not litigation occurs and if it does then those on appellate
as welf as trial leven and abstrset costs reas4nabl~ incurred or paid at any time by the Mortgaga because of the failure on the part of the
Mortgagor to periotm, comply with and abi~e by aU of his covenants set forth in this mortgage and/or the IVote and/ar Prior Morigage(s)
and the promissory aotds) secured thereby. `
1 t. The Mortgaga is a tivensod mortgage broker under Chapter 494, Florida Statutes.
PREPARED BY STANLEY H. SPIELER, ATTORNEY, 4700 $ISCAYNE BOULEVARD, MIAMI, FL
@KO 52 ~ s J~ v~.o~.oe~~d•~'~~' 33137
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