HomeMy WebLinkAbout2875 ~o ~ue And to ~otd !tie some, fogel{~e~ witti the fenemenfs. he?editamenla anc~ oppurle•
?iances fl~erelo belor~ging, an~ !tiP rents. lssues ond pro~ilt Ihe?eoJ, unto Ihe morfgagee, in ~ee simple. ~
~IIY fhe morfBagor COt~PhQ/lIJ u~itti fhe morlgugee ltiot ttie mortgagor !s tnde(easid~y seizec~ o( soid
land in /ee simpln: that the mo~fgagor hni good rigl~l and lau~)ul authority to convey ~atd land as ajore-
saic~: Itial ftie rr~ortgagor u~i~~ ma~e such ~urtlter nssurancea !o per(ect I~e jee timp~e tiile to :aid ~and In fhe
ma?fgagee as may reosonati~y de requtrec~: !~n! t~e mwlgagor ~ereby (uj~y wamanfs t~e fft~e to said la~d
and u~ill de/end t1~e same againsf ll~e ~aw~u~ claims o~ nt~ persons whomsoever; ant~ tha! aaid land i~ ~ree ,
a~d c(ear of aII encumbrances except taxes accruing subsequent to December 31
1972.
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_~rou~ded ~tways, fhaf if said mortgagor sha~~ pay unfo said ?norfgugee I~e cerfnin promis-
sory note tiereina~ter su6stantially copie~ or identijiecr, to-u~it:
-Note dated September 30, 1972 ir. the amount o~ $2,000,000.00,
given by Lucille V. Costa, Inc. to New Jersey Realty 1?:ortgage
Company due or.e (1) year fror.? date with interest at a rate
of tr.ree and one-haif pe~ccent (3 1/2~s) above the pritr.e rate
charged New Jersey Realty Mortgage Co.apazy by r^idelity ~;~ion
lrust Company, interest payable ;nonthly.
The Mortgagee agrees to releaje ~rom the lien of t:~e r~:ortgage each
respective unit in the project upon the t~a~~m?rt of the sum oi
Twenty-Five Thousand Dollars ($25,040.00~ o~ principal on account
of sucr. unit which sum shall be applied to the reduction oz the
principal sum advanced under the mortgage ur.~il all sw-ns advanced
together wit:~ interest thereon have been paici in full whereupon the
Mortgagee will satisfy the mortgage. _
~ Note dated April / J, 1973 in the amount of $4,000,000.00,
gi~fen by Lucille V. Costa and George A. Costa to New Jersey
Reulty :Ior 4gage Company due one (1) year from date with
intezest at a rate of three and one-half percent (3-1/2$)
above the prime rate charged vew Jersey Realty Diortgage Com-
pany by Fidelit~ Union Trust Comnany, interest payable
month ly . ~
The aforesaid Promissory note for which this Nortgage is secu `
rity was executed and delivered in the State of New Jersey on the
same date hereof and is retained in tne State of Ne:,~ Jersey.
B a0K PAGf
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