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Home My WebLink About0584 /s 1020550 ~ i - ,LC I~,~l'~,t~;5 DIX~N ~ _ sc. i.~.~~~• c:,,u~,ty tl. l:lerk ut . r. ~~~t C~urt t~l / C./(J Qy 1-!~ ~~~/'J Deputy Clerk 'Tct.,'. j _ ~ti~ _ _ , . ~,TA~~ r. r--~---~?F3;,-'_;~`, [?OC'JMEN':.RY ; , ;~.;Mc : ~ vFv%`• ~'1`i.`}'-.'t ~ G i. ~ - '1A ~'~~1 F..~'~o f - t~ ~ . . MORTGAGE nvde the day bebw set forth between the Mo~tgagor below named and the Mortgagc~e, METROPOLJTAN MORTGAGE CO., a Florida oorporation. WNEREAS, the Mortgagor is indebted to the Mortgagee as evidenced by a certain mortgage note (Note) of cven date Gom the Mortgagor to Mortgagoe as desrn'bod below. To secure tc~ the Mortgagee the performanoe by the Mortgsgor o[ all his agreements u set foRh in this Mortgage and the Note, ' the repayment of the udebtedness evidenood by the Note, interest thuooo, sums advanoe~ by the Mo~tgage~e m aooordanoe witfi the providons of this M~rtgsge to protect the lien and socurity ttxroof. u~d inter~st theroon, the Mortgegor does harebY mortgage. grant and oonvey co the Mortgaga the real property describod below, together with (a) dl easements, nghts, tenemen~s. hereditamencs, rents. issues and proGts appurentent thaeto; (b) all buildings, structures and improvements now or hereaR~r locatod thereon; (c) all components thereof ~ncluding pipes,~umbing fixtures and equipment, eiectrical oonduit and wiring and fixtures, heating and oooling and a~r oonditioning eyuipment and ~xturcs, sprinkling and irrigation equipment and fixtures, mechanical equipment, pumps, fences and awnings; (d) range. oven, refrigentor, d'u:~washer~ washing machine, dryer, applianaes, floor ooverings and carpeting situate theroon or therein; and (e) all replacements and additions to the property describod in (b), (c) tnd (d) above: provided, however, that no security interest is imposed upon aRer aoquirod oonsuma ~oc~ds as definod by the Florida Unifortn Comma~cial Code. 7b t~sve and to hoid the same unto the Mortgagoe, ~ts u~aesso~s aod a~ns in fee sunpk. All of the fore~ou~g air t~erdn ootiectiv~dy refemed to as ebe "Property". The Mortgagcx oonva~ana ct~ae t,e is lawfully sdud of che estate haeby conveyod and he has che righc co mongage. Sranc and convey the Propeny, that the Property is unencumbered except as may be below noted, and that the Mortgagor willl warrant and defend the citle to the Prope.ttY against all cla~ms and demands. And the Mcxtgagor oovenants and agrees u foilows: 1. To promptly pay when due the principal of and interest on the indebtodness evidenood by the Note and prepayment and late charges asprovided therein. 2. To pay all taxes~ assessmencs. charges, fines and other impo6itions of govemmental suthority against the P'roperty within sixty (60) days of when due or sixty (6U) dsys prior to the same becoming delinquent, whichever may first occur. 3. If it is noted below that this is a second or other subordinate rankod mortgage, then to promptly pay when due principal and interest owing under mortgage(s) of higher priority ("Prior Mortgage(s)°). to promplly pay to the holder(s) of Prior Mortgage(s) sums due on aocount of taxes and insurance prem~ums as may be provided for under the provicions of the Prior Mortgagels), and to otherwise fully, promptly and completdy keep and perform all of the promises and oovenants of the Mortgagor under Prior Mortgage(s) and the promis- ~ sory note(s) socurod thereby; all of the foregang without regard to any wsivers. exteruions or mdulgencas granted by the holder(s) of Prior ~ Mortgago(s) unless with the prior oonsent of the Mortgagce. 4. To keep in force mortgage guaranty insurance wntten by a oompany or companies approved by the Mortgagee, which approval shall not bo unreasonably withheld. with rtgard to this mortgage and the Note insuring against the risks described in F.S. 635.011(a) and to promptly pay the monthly premiums thercfor which will come due simultaneously with the due dates of installments under the Note. 5. Not to apply to. roquest of, receive or accept from any holder of any Prior Mortgage any money, funds or things of value which would m~ ht or ooutd be cons~dered as an advance secured b the lieri of such Prior Mo e. ~ y ~s I; 6. Not to commit waste or permit or suffer the impairmeot or deterioration 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 Mortgagee's prior writun oonsent; to : comply with all subdivision restnctwns a:~d zoning and other regulatory laws and ordinances affecting the Property. If the PropeRy is i a condominium uni~ the Mortgagor shall promptly and campletely perform all of his obligations under the declarauon of oondaminium ! and the oondominium association's artides ot inoorporation. by-laws and ruks and regulations and other oautituent oondominium ciocvments ! including but not limited to the payment of all regular and special assrssments, the liens for which against the Property might ar oould , have priority over the lien of this mortgage. If the Propeny is part of a Planned unit development, the Mortgagor shall prompdy oomply ~ with all provisions of the declaration of oovenants and restrictions establ~shirtg the same and shall prompdy fulfill all his obli~apons under ~ thz constituent documents of the planned unit development including the homeowners association's or ~ts equivalent's art~cles and by- i taws and shall prompdy pay all assessments or charges of every nature (no matter how designated) the lien for which against the Property ~ might or oould have pnonty over the lien of this mortgage. ; 7. To {ceep all the Property insured as may be required from time to time by the Mortgagee against loss by fire, windstorm, haiards, ; ~:asualties and contingencies for such periods and for not iess than such amounts as may be reasonably required by the Mortgagce and ! co pay promptly when due all premiwn5 for such ir~urance. The Mcxtgagor agrees to deliver renewa! or re~lacement policies or oerti5cates I therefor to t~e Mortgagee at least 6fteen (15) days prior to the expirat~on or anniversary date of the ex~stin~ policies. The amounts of insurance required by the Mortgagee shall be minimum amounts for which said insurance shall be written and ~t shall be incumbent upon the htortgagor to mamtain such additional insurance as may be necessary to meet and comply fully with all co-insurance raquirements ~ contained in said policies w the end that the Mortgagor is not a ao-iruuter thereunder. [nsurance may be written by a comp~ny or oompanies ~ approved by the Mortg,egee (which approval shall not be unreasonably withheld) and all policies and renewals shall be held by the Mortgagee g ~nless in the possess~on of a hotder of a Prior Mortgage. All detailed designations by the Mortgagor which are accepted by the Mortgagee and all agreements between the Mortgagor and Mortgagee relating to insurance, now existing or hereafter made, shall b~ ~n writing and ~ shall be a part of this mortgage agreement as fully as though set forth verbatim herein and shall govem both parties hereto. No lien e upon any policy of insurance or upon any retund or retum premium which may be payable on the cancellation or termination thereof ~ shall be given to other than the Mortgagee except a holder o( a Prior Mortgage or by proper endorsement affixed to such policy and p approved by the tiiortgagee. Each policy of uuurance shall have af~xod thereto a Standard New York Mortgagce Clause Without Contnbution ~ making all lobs or los,ses under such policy payable to the Murtgagee as its interest may appear. In the event any sum or sums of money become payable thereunder the Mortgagee s6a11 have the option to receive and apply the same on acoount of the indebtedness secured ~ hereby or to permit the Mortgagor to receive and use it or any part thereof without waiving or impairing any eyuity, liea, or rig6t under ~ and by virtue of this mortgage. In the event of loss or physical damage to the Property the Mortgagor shall give ~mmodiate notice theroof ~ by ma~l to the Mortgagee and the Mortgagee may make proof of loss if the same is not prompdy made by the Mortgagor. In the event of foreclosurc of this ~nortgage or other transfer of title to the Property all right~ title and interest of the Mortgagor in and to the insurance ~ policies shall p~ss to the purctiaser or grantoe. ~ 8. If the Mortgagor fails tope rform his oovenants and a~reemeots cantained in this mortgage, or if the Mortgagur faits t~ perform any duty or obiigation arising under a Prior Mortgage (including the payment ~f principal and/or interest deposits on accouat of taxes and msurance prem~ums and late charges even though the holder of the Prior Mortgage has made no demand thereunder and has not chreatened any action in connectio~ with the samt), or d any action or procxeding is oommenood which materially affects the Mortgagee's interests in the Propetty, including but not limitod to eminent domain or oocie enforoement or arrangemenis involving a tmnkrupt or deoedent, or if there is an apparent abandonmtnt of the Property, then the Mortgagee at its option may pay W the 6older of a Prior Mortgage all or parts of the sums necessary to bring tht Prior Mortgage current, may make appearances, may enter upon and xcure the Property, may d'uburx such other sums (including but not limited to the payment of insurance premiums and taxes), and may talce such other acaon as the Mortgagee reasonably detms noo~ssary or advisable to protect his interests in the Property, all without re,gard to the value of the Property. Any amounts disburs~d by the Mortgagee pursuant to the provisions of this paragraph, together wit6 mterest thereon at the rste of 18.00 per cent per annum shall bomme addiuonsl indebtodness of the Mortgagor secured by this mortgage. Unless tbe Mortgagor aad Mortgageeag rce ia writing to some ot6er terms of payment, such amounts shall be paysble immediately. Nothing in this paragraph shall roquin the Mortgaga to ~ncur any expense. make any di~bursement or take any action whatevu. y ro 9. All pro~eods of an awud or claim for~~ diroc.t or ooRSeq~tial in oonnoction with any oondemnation ~ any aher taking by eminent docrwin of the Property or anY Part , or for oonveyanoe m l~eu of ooademnation or eminent domain are 6ereby assigned = and slWl be paid to the Mortg~gee. Unkss the Mortgagor and Mortgagee ott~erwise agret in writing (a) all proceods rxeived tiy the Mortgagce ~ shall be appLed to the sucns sccured by this mortgage without impos~tioe of any prepayment ct~arge, snd (b) the applicadon of proceuis g shall not exund or post~one the due date of inuaUments of princip~l and interest or change the amounts thereof. 10. Any forbearance by the Mortgaga in exercisi any nght or remody hereunder or otherwise affordod by applicable lavv shall not be a waiver of or pralude the exercise of such ri~t ar remody. .Tbepracurement of inturana or the payment of taxes or other liens or charges or the payment of sums under a Prior M~ortga~e'by -tfie M~rt~agee shall not be a waiver of the Morigagee's right to aoaierate the maturity of tbe indebtodness socwed by thic mortgage. All ranodjes provided in this mortgage ue distinct and cumulative to any ot1~a right or rar~ody under this moRgage a affmcled by Iaw or oqwty u~d msy be ezerci~od eoncurrecidy. independrndy or suoassivdy. o Prcyarcd by Sunky H• Spieler, Atwmey, 4700 Bixayoe Boukvud. Miami. ~lortida 33t a7 dn~~ F~~c ~~4 y~~~.~~:. . ~ _ -