This Instrument Prepared By:
XXXXXXX X. XXXXXX, P.A.
000 X.X. 0xx Xxxxxx, Xxxxx 000
Xx. Xxxxxxxxxx, Xxxxxxx 00000
MORTGAGE DEED AND SECURITY AGREEMENT
THIS MORTGAGE is effective August 31, 1999, by XXXXX X. XXXXX and
XXXXX X. XXXXXX ("Mortgagor") to QUIKBIZ INTERNET GROUP, INC., a public Nevada
corporation authorized to do business in Florida ("Mortgagee"). The terms
"Mortgagor" and "Mortgagee" include all parties to this instrument and their
heirs, legal representatives, successors and assigns, and the term "Note" means
the Mortgage Note or Notes secured by this Mortgage.
WITNESSETH, that for divers good and valuable consideration and also in
consideration of the aggregate sum named in the Note hereinafter described, the
Mortgagor does hereby grant, bargain, sell, alien, remise, release, convey and
confirm unto the Mortgagee in fee simple, all that certain land of which the
Mortgagor is now seized and possessed, and in actual possession, situate in
Broward County, State of Florida, described as follows:
THE SOUTH 100 FEET (S. 100.00') OF PARCEL AA@, WOOFERS PLAT,
ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 97,
PAGE 17, OF THE PUBLIC RECORDS OF BROWARD COUNTY, FLORIDA
TOGETHER with all buildings and improvements thereon situate or which
may hereafter be erected or placed thereon, all and singular the tenements,
hereditaments, appurtenances and easements thereunto belonging or in anywise
appertaining, the rents, issues and profits thereof, and all heating,
ventilating and air conditioning equipment, all plumbing apparatus, fixtures,
hot water heaters, water and sprinkler systems and pumps, lighting fixtures,
screens, awnings, venetian blinds, built-in equipment, household appliances, and
built-in furniture (whether or not affixed to the land or building) all of which
shall be deemed to be fixtures and a part of the land and a portion of the
security for the indebtedness secured by this Third Mortgage, now or hereafter
located in or on the land, including all renewals, replacements and additions
thereto.
TO HAVE AND TO HOLD the same, together with tenements, hereditaments
and appurtenances unto the Mortgagee, its successors, and assigns, in fee
simple.
AND the Mortgagor does covenant with the Mortgagee that the Mortgagor
is indefeasibly seized of the land in fee simple, that the Mortgagor has full
power and lawful right to convey the land in fee simple as aforesaid, that it
shall be lawful for the Mortgagee at all times peaceably and quietly to enter
upon, hold, occupy and enjoy the land, that the land is free from all
encumbrances, except as provided herein, that the Mortgagor will take such
further action as is necessary to perfect the fee simple title to the land in
the Mortgagee as may reasonably be required, and that the Mortgagor does hereby
fully warrant the title to the land and will defend the same against the lawful
claims of all persons whomsoever. Mortgagee acknowledges that the property is
presently encumbered by a First and Second Mortgage.
PROVIDED ALWAYS that if the Mortgagor shall pay to the Mortgagee, that
certain $190,000.00 Note of even date herewith executed by Mortgagor and
XXXXXXXX & XXXXX, INC. as "Makers" in favor of Mortgagee as "Payee" (a copy of
which is attached hereto as Exhibit A), and shall perform and comply with
every stipulation, provision and condition of the Note and of this Mortgage and
shall pay all taxes which may accrue on the land and all costs and expenses
which the Mortgagee may incur in collecting the Note in foreclosure of this
Mortgage or otherwise, including reasonable attorneys' fees in trial and
appellate courts, this Mortgage and the estate created by it shall cease and be
null and void.
And the Mortgagor hereby jointly and severally covenants and agrees to
and with the Mortgagee as follows:
1. To pay all and singular the principal and interest and other sums of
money payable by virtue of the Note and this Mortgage, or either, promptly on
the days the same become due and payable.
2. To pay all and singular the taxes, assessments, levies, liabilities,
obligations and encumbrances of every nature and kind now on the land, and/or
that hereafter may be imposed, suffered, placed, levied or assessed thereupon,
and/or that hereafter may be levied or assessed upon this Mortgage and/or the
indebtedness secured hereby, each and every, as and when due and payable, and
insofar as any thereof is of record the same shall be promptly satisfied and
discharged of record and the original official document (e.g., the tax receipt
or the satisfaction paper officially endorsed or certified) shall be delivered
to the Mortgagee within ten (10) days next after payment. To the extent that
Mortgagee shall be liable for the payment of said taxes, assessments, levies,
liabilities, obligations and other encumbrances required to be paid under this
subsection, and the Mortgagee fails to pay the same, then the failure of the
Mortgagor to pay these items shall not constitute a default under this
paragraph. The failure of the Mortgagee to pay these sums shall constitute an
absolute defense to enforcement of this provision. Mortgagee may at any time pay
the same without waiving or affecting the option to foreclose or any right
hereunder, and such payments shall be added to the principal balance of the
Note.
3. To pay all and singular the costs, charges and expenses, including
attorneys' fees, whether or not suit is brought, reasonably incurred or paid at
any time by the Mortgagee, including attorneys' fees in the event of an appeal
by either party, because of the failure on the part of the Mortgagor to perform,
comply with and abide by each and every of the stipulations, agreements,
conditions and covenants of the Note and this Mortgage, or either.
4. To keep the buildings now or hereafter situate on the land and all
personal property located thereon continuously insured against loss by fire and
such other hazards as may from time to time be requested by the Mortgagee for a
sum not less than the highest insurable value, in a company or companies to be
2
approved by and acceptable to the Mortgagee. All insurance policies shall
contain the standard mortgagee clause making the loss under said policies
payable, without contribution, to the Mortgagee as its interest may appear, and
a copy of each and every such policy shall be promptly delivered to and held by
the Mortgagee, together with a certificate of insurance as to the existence of
such policy. Not less than ten (10) days in advance of the expiration of each
policy, the Mortgagor shall deliver to the Mortgagee a renewal thereof, together
with a receipt for the premium for such renewal, and no such policy may be
terminated without ten (10) days prior written notice to the Mortgagee. In the
event that the Mortgagor fails to obtain and pay for the insurance policy or
policies required hereunder, the Mortgagee may place and pay for such insurance
or any part thereof without waiving or affecting the option to foreclose or any
right hereunder. In the event any sum of money becomes payable under such policy
or policies, the Mortgagee shall have the option to receive and apply the same
on account of the indebtedness hereby secured or to permit the Mortgagor to
receive and use it or any part thereof for other purposes, without thereby
waiving or impairing any equity, lien or right under or by virtue of this
Mortgage. All payments so made by the Mortgagee shall be added to the principal
balance of the Note, shall be due and payable with interest at the maximum rate
permitted by law and shall be secured by the lien of this Mortgage. In the event
that Mortgagee shall be liable for the payment of the obligations set forth in
this paragraph under the terms of this or any other written agreement between
the parties hereto, and said Mortgagee does not pay these obligations when
required to do so, then the failure of the Mortgagor to pay these items shall
not constitute a default under this paragraph.
5. To keep the Land, buildings and improvements now or hereafter
situate thereon in good order and repair. and to permit, commit or suffer no
waste, impairment or deterioration of the land or any part thereof. If the
Mortgagor permits said waste, impairment or deterioration, the Mortgagee is
authorized to make such repairs that it deems necessary so as to protect the
security in the land and buildings and improvements thereon, and the full amount
of each and every such payment shall be added to the principal balance of the
Note, shall be due and payable with interest at the maximum rate permitted by
law, together with any expenses incurred by the Mortgagee, and the total amount
of such payments and expenses shall be secured by the lien of this Mortgage.
That in the event that such waste, impairment, and deterioration of the land is
the result of the Mortgagee=s wrongful acts while in possession of the premises,
then the Mortgagor will have the right of Aoffset@ against the Mortgagee for
such damage sustained to the property.
6. To perform, comply with, and abide by each and every the
stipulations, agreements, conditions and covenants in the Note and in this
Mortgage.
7. To comply, as far as they affect the land, with all statutes, laws,
ordinances, decrees and orders of the United States, the State of Florida and
any political subdivision thereof.
8. If the Mortgagor shall fail to promptly discharge any obligation or
covenant as provided herein, the Mortgagee shall have the option, but no
obligation, to perform on behalf of the Mortgagor any act to be performed by
Mortgagor in discharging such obligation or covenant, and any amount which
Mortgagee may expend in performing such act, or in connection therewith. with
interest thereon at the maximum legal rate and together with all expenses,
including reasonable attorneys' fees, whether or not suit is brought, including
in the event of appeal by either party, incurred by Mortgagee shall be added to
3
the principal balance of the Note, shall be immediately payable by Mortgagor,
shall be secured by this Mortgage and Mortgagee shall be subrogated to any
rights, equities and liens so discharged.
9. Mortgagor hereby pledges, assigns and transfers to the Mortgagee all
rents, leases and profits from the property encumbered hereby as additional
security for the payment of this Mortgage and the Note. Mortgagor hereby
covenants and promises to collect said rents, leases and profits and to apply
them to the payments due hereunder as they become due. Permission is hereby
given to the Mortgagor so long as no default has occurred hereunder, to collect,
receive, and use such benefits from the property as they become due and payable,
but not in advance thereof.
10. The Mortgagor agrees to keep all superior mortgages current and in
good standing. In the event any mortgage payment under a mortgage superior to
this Mortgage is delinquent, in arrears or otherwise in default, the Mortgagee
may, at its option, make all superior mortgage payments and/or cure the default
and whether or not it makes such payments or cures such defaults may immediately
declare due the unpaid principal balance of the Note and this Mortgage to be
payable on demand. Any payments made by the Mortgagee under this paragraph shall
be added to the principal balance of the Note, shall bear interest at the Note
rate and shall be secured by the lien of this Mortgage.
11. If any mortgage superior to this Mortgage is increased or amended,
or any additional or future advances are made thereunder, then this Mortgage and
the indebtedness which it secures shall be immediately due and payable.
12. If the principal of or interest on the Note or any part of the
indebtedness secured by this Mortgage or interest thereon is not paid when due,
or if default be made in the full and prompt performance of any covenant or
agreement herein contained, or if any proceeding be instituted to xxxxx any
nuisance on the land, or if any proceeding be instituted which might result to
the detriment of the use and enjoyment of the land or upon the rendering by any
court of a decision that any undertaking by the Mortgagor as herein provided to
pay any tax, assessment, levy. liability, obligation or encumbrance is legally
inoperative or cannot be enforced, or in the event of the passage of any law
changing in any way or respect the laws now in force for the taxation of
mortgages or debts secured thereby for any purpose, or the manner of collection
of any such tax so as to affect this Mortgage or the debt secured hereby, or if
the Mortgagor files a petition in bankruptcy, or is adjudicated a bankrupt or
files any petition or institutes any proceedings under the National Bankruptcy
Act, or any comparable proceeding under the laws of any state, governing
debtor-creditor relations, then on the happening of any one or more of these
events, this conveyance shall become absolute and the whole indebtedness secured
hereby shall immediately become due and payable. Thereupon, at the option of the
Mortgagee, this Mortgage may be foreclosed for the whole of said money, interest
and costs, or Mortgagee may foreclose only as to the sum past due, without
injury to this Mortgage or the displacement or impairment of the remainder of
the lien thereof, and at such foreclosure sale the land shall be sold subject to
all remaining items of indebtedness, and Mortgagee may again foreclose, in the
same manner, as often as there may be any sum past due.
13. At a later date and provided Mortgagee is not obligated to pay for
insurance upon the property by virtue of another written agreement, the
Mortgagee may require that the Mortgagor will pay to the Mortgagee on the first
day of each month throughout the existence of this Mortgage, a sum equal to the
4
premiums next payable on or for policies of fire and other hazard insurance
thereon, less any sums already paid the Mortgagee with respect thereto, divided
by the number of months to elapse one month prior to the date when such taxes,
assessments and premiums become due and payable, such sums to be held by
Mortgagee, without interest, to pay such items. If at any time the estimated sum
is insufficient to pay an item when due, the Mortgagor shall forthwith upon
demand pay the deficiency to the Mortgagee. The arrangement provided for in this
paragraph is solely for the added protection of the Mortgagee and entails no
responsibility on the Mortgagee's part beyond the allowing of due credit,
without interest, for sums actually received by it. Upon the occurrence of a
default under this Mortgage, the Mortgagee may apply all or any part of the
accumulated funds then held upon any obligation secured hereby. Upon assignment
of this Mortgage, any funds on hand shall be turned over to the assignee and any
responsibility of the assignor with respect thereto shall terminate.
14. In the event of a default or the happening of any event which would
enable the Mortgagee to declare the whole indebtedness secured hereby
immediately due and payable, the Mortgagee shall be entitled to the appointment
of a receiver of all the rents, issues and profits, regardless of the value of
the land and the solvency or insolvency of the Mortgagor and other persons
liable to pay said indebtedness, if any.
15. The words "Mortgagor" and "Mortgagee" when used herein shall
include the singular and plural number and masculine, feminine or neuter gender,
as the case may be. Each and all of the terms and provisions hereof shall extend
to and be a part of any renewal or extension of this Mortgage.
16. This Mortgage and the Note shall be construed according to the laws
of the State of Florida.
17. To the extent that the land, or any part thereof, shall be deemed
to be personal property, this Mortgage shall serve as a "Security Agreement"
within the meaning of the Uniform Commercial Code as adopted in the State of
Florida. Mortgagor hereby grants to Mortgagee a security interest in and to all
of those portions of the land and the improvements which may ultimately be held
to be personal property. With respect to such personal property, Mortgagee shall
have all rights afforded secured parties by the Uniform Commercial Code, as
adopted in the State of Florida, and as may hereafter be modified or amended, in
addition to, but not in limitation of, the other rights afforded the Mortgagee
hereunder. Mortgagor agrees to make, execute and deliver to the Mortgagee, in
form satisfactory to the Mortgagee, such financing statements and further
assurances as Mortgagee may from time to time consider reasonably necessary to
create, protect and preserve the Mortgagee's security interest.
18. It is the intention of the parties to comply strictly with all
applicable usury laws and, accordingly, in no event shall the Mortgagee be
entitled to receive, collect, or apply as interest, any interest, fees, charges
or other payments equivalent to interest in excess of the maximum amount which
may be charged from time to time under applicable law. In the event the
Mortgagee ever receives, collects, or applies as interest any such excess, such
amount which would constitute excessive interest shall be applied to the
reduction of the principal amount of the indebtedness evidenced and secured
hereby, and if the principal amount of the indebtedness evidenced hereby and all
interest thereon is paid in full, any remaining excess shall forthwith be paid
to the Mortgagor or other party lawfully entitled thereto. In determining
5
whether or not the interest paid or payable, under any specific contingency,
exceeds the maximum which may be lawfully charged, the parties shall, to the
maximum extent permitted under applicable law, characterize any non-principal
payment as expense, fee or other premium rather than as interest. Any provision
hereof or of any other agreement between the parties hereto that operates to
bind, obligate, or compel the Mortgagor to pay interest in excess of such
maximum rate, shall be construed to require the payment of the maximum rate
only.
IN WITNESS WHEREOF, the said Mortgagor has hereunto set his hand and
seal the day and year first above written.
Signed, sealed and delivered in the presence of us:
/s/ Xxxxxx X. Xxxxx /s/ Xxxxx X. Xxxxx
_________________________________ By: ______________________________
Print Name Xxxxxx X. Xxxxx XXXXX X. XXXXX
__________________________________
/s/ Xxxx X. Xxxxxxxx __________________________________
_________________________________
Print Name Xxxx X. Xxxxxxxx
/s/ Xxxxxx X. Xxxxx /s/ Xxxxx X. Xxxxxx
_________________________________ By: ______________________________
Print Name Xxxxxx X. Xxxxx XXXXX X. XXXXXX
__________________________________
/s/ Xxxx X. Xxxxxxxx __________________________________
_________________________________
Print Name Xxxx X. Arelius
STATE OF FLORIDA )
COUNTY OF BROWARD )
I HEREBY CERTIFY that on this day before me, an officer duly qualified
to take acknowledgments, personally appeared, XXXXX X. XXXXX, and XXXXX X.
XXXXXX, to me known to be the persons described herein, who presented
_______________________, ___________________________, respectively, as
identification, and who executed the foregoing instrument and acknowledged
before me that they executed the same.
WITNESS my hand and seal in the County and State last aforesaid this
31st day of August, 1999.
/s/ Xxxxxx X. Xxxxxx
______________________________________
Print Name: Xxxxxx X. Xxxxxx Notary Public
My Commission Expires:
7
