HomeMy WebLinkAbout2590 PROVIOED ALWAYS„ artd tbae prr~q ar~ oo tlsia expresa eondltloa~ that U d~e ~aid ~[at~s~ae or 6L ~ein.
Icgsl reyresentiti~ea or as~i~aa ~hatl ~reU sad trul~r os~r aeM tbe ~Io~tsasee. oe Qi~ le~al re~e~aeat~tha. bdrs aad aqito~.
the anens of moaer Aereia ~aentioned. sad tlie dataeat tbenoa as it sha11 becoaae dne. to~ethu with all eoath c1+ar~ea and
expen~a. inelnding sbstnet tees a~d a reasonsble attanep's tee which the Mo~tsa~ee mq? ~cor or be ~at to M oollatt~
the aaene br lorectwurc, or othecwi~e, ~sld indebtedoea beins seaerally desceibed as fdb~n:
Note dated September 30, 1972 in the amount of $2,000,000.00,
given by Lucille V. Costa, Inc. to New Jersey Realty Mortgage
Company due one (1) year from date with interest at a rate
of three and one-half percent (3 1/2$) above the prime rate
charged New Jersey Realty Mortgage Company by Fidelity Union
Trust Company, interest payable month2.y.
The Mortgagee agrees to release from the lien of the mortgage each
respective unit in the project upon the payment of the sum of
Twenty-Five Thousand Dollars ($25,000.00) of principal on account
of such unit which sum shall be applied to the reduction of the
principal sum advanced under the mortgage until all sums advanced
together with interest thereon have been paid in full whereupon the
Mortgagee will satisfy the mortgage.
AND tLe wid ]~[o~agoc~ ioe himatU and bis hetn, le~al Yepreseabehea o~ assi~nti jotntl~ and ~erail~r eo~renanb
and sgrees to and with the Mortga~ee. and his heirt. Iega1 repreaeatati~a or asri~ns, t6at at the dme oi the m~ aad
delirery of thae presenb he is wett seised of said pr+einises tn iee simple. apd haa good fnll power aod lawdui anthor-
itr to gran~ batgain and aeD !he aame in mauner and form aforesald; that the same ue free aad elar of all Ueas and ea-
cmabranccs whatsoever aed that he ~ril! ivrever proteet aad defend the ume agaiast aU Iswtnl ciatmi, and that 6e herebp
fu11Y a?arranb the titie to said premises and wip defead the same against the tawfW cLims of all penons whomsoever; that
he ~rill pcrmit~ oommit or snffer no waste, impairment or deterioration oE ssid premises, utd will lcetp tbe bidldinas and
iazpro~emeats located thueoa in s~ good coAdition as the~ naw uc, snd in tbe e~ent of dsms~e to ot deatroetion of mr
of uid bnildings, to repair~ or replace the same forth~ritl~ and 'iaunediatdr in as good condirion and ot tbe same tharactet
of constrnetion as they now are. arid to keep all fmit trees. citrns trees md shrnbbery that are ~ow or msr herafter 6e
located npoa said praaiscs. properly and sluUfully prnned. fertillzod, watered. sprsyed, caltevateQ aad protected, it bdng
~peci6cally ~tipnlatcd and agreed that the ta~7nre and aeglect ao to do wriU conititute wsste; and ~1 do or permit to be
done to said pnmises nothiag that may in anr war impair or rveaken the secnritp nndu thia mort~s~e; tl~at he ~?ill psy
nnto the Mortgagec, his heirs, legal repnuatati~es or sasigas the said promissocp note_-..».and the iataest on the aame ss
it or they s6a11 become dne and psyable. past dae interest to bear intuat at tbe ate of efght (8) ptc teat per s~nm trom
ib dne date untii paid~ together with s1! coets, charges„ abstr,set fees sad acpeases, inclndin~ attorae~'s fees, whieh the
said Mortgagee, his heirs, legal repraeautives o~ asaigaa mar be pnt to or iacnr in eollecting the tame b~ forecllosote oe
otherv?ise; that the said Mortgagor will ia due season psr sU tues, saasmeab and chargea which msy be le~ied upon
the uid propert~ natit the indebtedness aionsaid shaU be paid. and thst the ssid ~[ort~a~or. or 6Jo hdn, tesai repraea-
tsti~e: or usi~u. wiit prompttr sstish. par snd ai~cha~e anr and a11 meehs„k's snA materW-men's tieah and anp aad alt
other lfeni and sor and all jud~menu and darees whteh mq beeome 1kn~ aad ehasse~ upon We premises above desaibed.
snd rvill keep ail bnildta~a ehat msr at aay time be oa sald preeatiea duria~ th~ eonttauance of utd iadebtednaa, ta sood -
snd fint-ciu~ atate ot repair~ and iniared a~ain~t loi~ br 5re and ~neh other hasasd~ u ahall be nqnired bp ths ~doet-
~ee ia tneh eompaay or eaapsaia ai the Mort~a~ee. his hein, le~a~ repreasntstira or assisns ~Wr agprore, ta at ie~st
fn!! ia~nrable ralue, whieh poUc~? or nolidq ot in~uraaea are to be ia~ned sad aisiataincd la tbe aame ot the owner ot tba tee
simple dde to ~id propertp, aad ~hall eoatsin oe have atbehed therew u• patt thereoi a eno:t~ases elsnls atLtutoryr to
uid MortQa~ee, and pra~idin: for the ps~?meat oE aa~ fo~~ papable aeda an~ oE aaW polide~ to and in h~or ot ald Mort-
~ee, aneh policp or poticia to be held by ~atd Mattpgee~ hb adn. lesa! npceuntad~p or asdsa~, and in t1~~ eneat aWr
•nm of money become~ payable nnder such polic~? or poHde~, tbe ~[ortsasce, Wt bein,le~s1 repreaentattnetot sut~. ~6a11
ba~e the oDt~oa to reeei.e sad apply the wae on scoonnt ot the indebtedoeu heteb~? ~ecnsed. or to we the iame 1e ~epair-
te~ o~ replsdag ~aid ~raaiiei to the eondition thereot at the time of the exeendon of thls mort~a~e. or to pecatit t6e
Yort~a~or to recd~e aad n~e taid moaep or an~ part thtceof for other pnrpoKS w~thont tberrbp wai~tns oe imP~i
aar eqnit~. liea or rlght nader aad by tirtus o~ tbis mort~a~e.
AND ia caa of the refn~ai o~ aeQlat oE t~e ~aid 3lort~or,1~I~ bdr~, 1e~al repreantad~q or wi~os to t6oa repdr
or replace iaid premises, or to keey ssid premiaq iaiured u atoraaid, or to pay taxa, ssassmeab oe ehar~es oe to utisf~r
aad discbsr~ t~e tles~ti ~ndQenenta ot decrees abo+e meadoAed, then ~sld 2[ort~ee. his hdn. lesai repraentatfira or
ss~igns may. at his opdon~ make such repain„ procnce snch ~nsurance, o~ par sucl, tua, ssses:mena or charaes or par and
Qischuge sueh liena. judgmeat• or decrces. :nd it ~hat! not be obligston? fo~ ssFd Mort~ee. h4 beirs. le~al represeab-
tirea. or as'igns to inquire into tht ra~ditr of Wc asua~mentr, tsx deedi ~~pedat sucssmeab or o~ ~ala nnder sne1~ tax
or ~Decisl u~a~ment or to otherwi~e inquire iato the salidiqr of Uen~ oe mahsalu or materl~l•meo, ot {nto the aeceuitp
of •ueh repairs, to tdrsndn~ mone~ in thst bebdt ~s abone •meatioatd, bnt nothfa~ henin eontained st~aU be oonstrned as
reQuiring the utd Mongsgce. hG heiri. Ie~si cepre~ea4tirei or a~si~o~ to ad~anee or pcpend mone~? for taxes or ~pecial
astasmeati or for otber pnrpous aforeaatd. Afl mooep thns pald shall dnw lnterest st the rate ot ei~bt (8) pa cent per
sanwq to~ethet with a11 reswnable sttonte~~ feei, cottr. charQes, abstract fea aad e~cpeaaes for torecbsore or other pro-
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