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HomeMy WebLinkAbout2022 I02~582 . R; t, ~ i_ t,_ I~i1a[y43 C~I?~(`!~' ~%~~G~u~llPi , ~ Ct I.i~cic C~unty 4 I1 : . ~ :c $ ~ ~q ~~S Ci~~r',. Circ}~'t ,-t ini l ~u i -~~~2~. By 'tbtal i ~~'U? Cluk MORTGAGE nmde the dsy below set forth between the Mortgagor bebw named anci the Mortgagee, METROPOLITAN MORTGAGE CO., a Florida corporauon. WHEREAS, the Mortg~ is indtbted to the Mortgagee as evidenced by a ctrtain mortgage note (Note) uf even date from the Mortgagor to Mortgagee as descn below. To secure to the Mortgaga the performance by the Mortgagor of alt his agreements ac set foRh in this Mortgage and the Note, ihe repayment of the ind~bcodness evidenoad by ~he Note, interest thereon, swm advanoed by the Mort~g~ in sooorciance with the provisions of this Mortgage to protect the lien and socurity theroof, and interest theroon. the Mortgagw does hereby mortgage, grant and convey to the Mortgagee the real property descn~bed below, together with (a) all easements, nghts, tenements, hereditaments, rents. izsues and profits appurentant the~eto; (b) ali buildings, structures and improvements now or hereafter locatod thereon; (c) all components thereof ~ncluding pipes, pIumbing fixwres and equipment, electrical oonduit and wiring and fixtures, heating and oooling and air canditioning eyuipment and fixtures, sprinkling and ~rrigation equipment and fixtures, mocha~ical equipment, pumps, fences and awnings; (d) range, oven, rofrigerator~ di~~washer. washing machine~ dryer, appliances, floor ooverings and carpeting situate thereon or therein; and (e) all repiacements and additions to the property descnbed in (b), (c) and (d) above: provided, however, that no security interest is imposed upon aRer aoquiral oonsumer ~oods as defu~ed by the Florida Uniform Commercial Cade. To have and to hold the same unto the Mortgagne, iu suoass~o~s snd assi~ in fce sunpk. All of the foregoing ar~e herein ooilocsivdy rderresd to as the "PropertY". The Mo~tgsgor aanvenants that ho is law[ully seued o( the estate haeby oonveyod and he I~as the right to mortgage, grant and ooovey the Property, that the Property is unencumbered except as may be below noted. and that the Mortgagor willl warrant and dtfend the dde to the Properiy against a11 claims u~d demands. And the Mcxtgagor covcnants and agras ss follaws: 1. To promptly pay when due the principal of and interest on the indebtedness evidenced by the Note and prepayment and late charges as provided therein. 2. To pay all taxes, azse.ssments, charges, fines and other impositions of govemmental suthority against the Property within sixty (60) days of when due or sixty (60) days prior to the same beooming delinquent, whichever may first occur. 3. if it is noted below that this ~s a secand or other subordinate ranked mortgage, then to promptlypa y w~hen due principal and interest owing under mortgage(s) of higher priority ("Prior Mortgage(s)"), to promptl} pay to the holder(s) of Prior Mortgage(s) sums due on aocount of tsxes and insurance premwms as may be provided For under the provis~ons of the Prior Mortgage(s), and to otherwise fully, prompdy and completely kcep and perform all of the promises and covenants of the Mortgagor under Prior Mortgage(s) and the promis- ; sory note(s) secured thtreby; sU o[ the foregoing without regard to any waivers, extensions or mdulgences granted by the holder(s) of Prior ~ !~{ortgage(s) unless with the prior consent of the Mortgagce. G 4. To keep in force mortgage guaranty insurance written by a company or oompanies approved by the Mortgagee, which approval ; shall not be unreasonably withheld, with regard to this mortgage and the Note insuring against the risks described sn F.S. 635.011(a) and to promptly pay the monthly premiums therefor which will come due simultaneously with the due dates of insiallments under the Note. ; 5. Not to apply to, request of, reoeive or accept from any holder of any Prior Mortgage any money, funds or things of value which ~ would. might or oould be cons~dered as an advance secured by the lien of such Prior Mortgage. i 6. Not to commit waste or permit or sufEer the impairment or deterioration of the Property; not to erect or permit to be erected any new buiidings on the Property or any siructural alterations to existing buildings without the Mortgagee's prior written consent; to ; :omply with all subdivision restnct~ons and zoning and other regufatory iaws and ordinances affocting the Propert~. If the Propert~r is ! a condominium unit, the Mortgagor shall promptly and completely perform all of his obligations under the declaraaon of condomin~um ~ and the oondominium association's articles of incorporation, by-laws and niles and regulations and other oonstituent oondominium documenu f including but not limitecl to the payment of all regular and special assessments, the liens for which against the Property might or oould j have pnority over the lien of this mortgage. [f the Property is part of a planned unit development, the Mortgagor shall promptly comply w ich all prov~s~ons of the declaration of covenants and restrict;ons establ~shing the same and shali promptly fulfill all his obli~adoas under the constituent documents of the planned unit development i0cluding the homeowners association's or ~ts equivalent's art~cles and by- ~ laws and shal! prompdy pay all assessments or charges of ever}~ nature (no matter how designated) the lien for which against the Property 4 might or oould have pnonty ovei the lien of this mortgage. 7. To ~eep all the PropeRy insured at may be required from time to time by the Mortgagce against loss by fire, windstorm, hazards, j casualties and contingencies for such periods and for not less than such amounts as may be reasonably required by the Mortgagee and ~ to pav prom~y when due all premiums for such irtsurarsce. The Martga~or agrees to deliver renewal or re~lacement policies or oertificates ~ there~or to e Mort~gagee at least fiftecn (IS) days prior to the exp?raUon or anniversary date of the ex~stu~ policies. The amountc of insurance required by the Mortgagee shall be minimum amounts for which said insurance shall be written and ~t shall be incumbent upon ~ the Mortgagor to mamtain such additional insurance as may be necessary to meet and comply fully with all co-insurance requirements contained in said policies to the end that the Mortgagor is not a oo-iacurer therew~der. [nsurance may be written by a company or oomp~nies ^ approved by the Mortgagoe (which approva! shall not be unreasonably withheld) and all policies and renewaLs shall be held by the MoRgagee ~ unless in the possess~on of a holder of a Prior Mortgage. All c:etailed designations by the Mortgagor which are aocepted by the Mortgagee ~ and all agreements between the Mortgagor and Mortgagee reiating to insurance, now existing or hereaiter made, shall be in writing and ~hall be a part of this mortgage agrcement as fully u though set forth verbatim herein and shall govern both parties hereto. No lien ~ upon any pol~cy of insurance or upon any refund or rcturn premium which may be payable on the cancellateon or termination thereof ~ shall be given to other than the Mortgagee except a holder of a Prior Mortgage or by proper endorsement affixed to such policy and approved by the Mortgngee. Eac~ policy of ic~surance shall have affuad thereto a Siand,ard New York Mortgagee Ctause Without Contnbution ~ 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 Mortgagce shall have the option to receive and apply the same on account of the indebtedness secured ~ hereby or to permit the Mortgagor to raxive and use it or any part thereof without waiving or impairing any e~uity, lien, or right under ~ and by virtue of this mortgage. [n the event of loss or physical damage to the Property the Mortgagor shall give ~mmediate notice thereof ~ by mail to the Mortgsgee and the Mortgagce may make proof of loss if the same ~s not promptfy made by the Mortgagor. In the event ~ of foreclosure of this mortgage or other transfer of tide to the Property all right, tide and interest of the Mortgagor in and to the insurance ~ policees shall pass to the purcha5er or grantee. 8. If the Mortgagor fails to perform his covensnts and a~reements contained in this mortgage, or if the Mortgagor fails to perform any duty or obligation arising under a Prior Mortgage (includmg the payment of principa! and/or interest deposits on acoount of taxes and insurance premiums and late charges even though the holder of the Prior Mortgage has made na demand thereunder and has not thr~atened any action in connection with the same), or if any action or proceeding is commenced which meterially affects the Mortgagee's incerests in the Property, including but not limited to eminent domain or mde enforoement or arrangements involving a bankrupt or deoodent, or if there is an apparent abandonment of the Property, then the Mortgagce at its aption may pay to the holder uf a~rior Mortgage al! or parts of the sums ne~cessary to briag the Prior Mortgage current, may ma{ce appearances, may enter upon and secure the Property, may disburse such other sums (inclr~ding but not limited to she payment of insurance premiums and taxes), and may take sueh other acuon u the Mortgagoe reasonably deems necessary or advisable to protect his inGerests ~n tt?~ Property, all without regard to the value of the Property. Any amounts disbursod by the Mortgagec pursuant to the provisions of this paragraph, together with interest thereon at tht rate of 18.00 pa cxnt per annum s6all become addidonal indebtedness of the Mortgagor secured by this mortgage. Unless the Mortgagor and Mortgageeag ree ~o writing to some other tern~s of paymeot, such amounts shall be payable immediately. Nothing in this _ paragraph shall require the Mortgagee to incur any expense, make any disbursement or take any action whatever. 9. All proaedc of any award or claim for ~ d~rax or mn9oquential in oonnoction with any oondemnation or any other ta{cing by eminent domain of the Property or any part therou , or for oonveyanoe in I~eu of c~ondemnation or eminent domain are hereby assignod and shap be paid to the Mortgagee. Unkss the Mortgagor and Mortgagee otherwise agree in writing (a) all Qroceeds received tiy the Mortgagee - shali be appliod to che sums secu.P.d ify t6is rnortgage without impos~tion of any prepayment charge, and (b) the application of procetds shall not extend or pastpone the due date of installments of principal and interest or change tht amounts thereof. 10. Any forbearance by the Morcgagee in exercising any right or remedy hereuoder or otherwise afforded by applicablc Iaw shall not be a waiver of or prxlude the exerase of such right or remady. 'The prociuendent of insurance or the payment of taxes or other liens or charges o; the payment of sums under a Prior Mortasge by the Mortg:gee shall not be a waiver of the Mortgagee's t to accelerate the maturity of the indebtedness sa;urcd by thi~ mortgage. All remedies provided in this mortgage are distinet and ~tive to any aher r~fit or rzmedy under this mcxtgage or af[orded by law or oquity and may bc ezercs~d oonc.wready, independend}~ or suoassively. ~ Prcparod by Stuky H. Sp+ckr, Alt~xncy, 4700 Bi9cayne Boukvud. Mi~mi. Fn-i~i 33137 Q~ ~7~ :~~r _ - ~rt -