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Leases and Rents and Security Agreement    Ts and Security Agreement • March 28th, 2018 • Korth Direct Mortgage LLC • Real estate

• Contract Type
  Leases and Rents and Security Agreement    Ts and Security Agreement
• Filed
  March 28th, 2018
• Company
  Korth Direct Mortgage LLC
• Industry
  Real estate

This Instrument Prepared By: JORGE A. FERNANDEZ, ESQ. Jorge A. Fernandez, P.A. 2600 Douglas Road Penthouse 8 Coral Gables, Florida 33134 THIS IS A BALLOON MORTGAGE SECURING A FIXED RATE OBLIGATION WITH A BALLOON PAYMENT DUE ON THE 60TH MONTH. THE FINAL PRINCIPAL PAYMENT OR THE PRINCIPAL BALANCE DUE UPON MATURITY WILL BE APPROXIMATELY $1,850,000.00, TOGETHER WITH ACCRUED INTEREST, IF ANY, AND ALL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE. THE BANK APPLIES ALL PAYMENTS RECEIVED FIRST TO THE INTEREST AND THEN TO THE PRINCIPAL. IN CASE OF LATE PAYMENTS PRINCIPAL MAY NOT AMORTIZE ACCORDING TO SCHEDULE AND THE BALLOON PAYMENT WILL BE INCREASED ACCORDINGLY. FLORIDA REAL ESTATE MORTGAGE, ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT TS AND SECURITY AGREEMENT (the "Mortgage") is made and entered into as of the 13th day of March, 2018, by MIS NW 345 LLC a Florida Limited Liability Company hereinafter ("Mortgagor") and KORTH DIRECT MORTGAGE, LLC, a Florida Limite