HomeMy WebLinkAbout1724 638•0~6
NOTE
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FOR VALUE RECEIVED, THE undersigued promites to pap to tbe order of NEW JERSEY BAIVK
AND TRUST COMPANY, heteinafar called "obligee" at the NEW JERSEY BANK AND TRUST COM- ;
PANY, 1184 Main Aveauq Clifton, Ne~v Jersey, or at such other plaoe ~vhich may be designated by t6e
obGgee, che sum of ~~~i~j ~'i~_ ZMM~~i aM, ~100 ~~~~~~~NN DOLLARS
(_.`~.~..00..) with interat on the uapaid principal sum computed from the date of thu Note or
from the dace of each and every advance at the rau of . qo per annum. Payment of principal and ~
interesc shall be as follows: }
i. Priielp~ a r....a p.~.w ~.i.r. ~as~a . ~1i7t w.r..t
p~~rW ~~w . 1l~. aM iMe~MtM~ ~¦W a~si~. ~t
~riiei s4a~ IM rpsl~i M~~r~ at LNtat a~ psf~alp~1 M i~e aM p~~M~.
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2. The arithin Noa is secured by a Mortgage of even date herewith covering property
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and all of the terms of the said Mortgage are henby made a part of this Note. '
3. In the event that any payment shall become ~verdue for a period in excess of fifteen days, a"late
charge" of two cenu of each dollar so overdue may be charged by the holder hereof, for the purpose of de-
fraying the ezpenu incident to handling the said delinquent payment.
4. The undersigned agrea with the holder hereof :
(a) To pay to the holder at the time of each monthly payment, if requued bq the holder, one-
twelfth of the cnrrent annual taaes levied and auessed against the mortgaged premisa, and oae month's pro-
porcion of the insurance premiums, to be held by the holder and used in payment of the taaa and insurance ~
premiums u they become due and payable, and to make such further taz or insurance raerve payments in i
such amounu and at such time or times as the holder shall require; ~
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(b) to claim no deduction upon the assessed value of such mortgaged psoperty on account of '
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the moneys owing hereon; ' j
(c) To paq all tues, assessmenu, water reau and other governanental charga levied or asussed ~
~ against the raoctgaged property withia un days afur the same shall have become due aad payable to the i
~ extent the undersigned has not depoaiud funds ~rith the holda for that purpaae; ;
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~ (d) To keep the buildiag on the mongaged pmperty insurod for the benefit of the holder hereof ~
~ against damage or loas by fire and such other hazards as the holder hereof sball spocify, by insuren and in
araounu approved by the hdder heroof, aad to delivu such policy or policia of insurance to the holder ~
hereof; ~
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(e) To keep the buildings on the mortgagod property in repair aad condition satiafactory to the S
holder hereof; ;
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(f) To pay all reasonable attorney's fea and costs incuned by the holder hereof; ia the event
that it becoma necessary for the 6older hereof w emploq counsd w collect ch's obligation or to procect or
~ foreclose any collateral given u security for the paymrnt of thi: Note.
~ OR
~ : aooK 141 520
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