HomeMy WebLinkAbout1150 ~o ~ue ~nd to ~otd Itie some, !o~/el'~er with !he fenements, hereditaments an~ appu?le-
~iances therefo be~onying, aie~ f~e renls. issups and profils I~ereo~. unto l~~e moHgagee, in (ee simp~p. ~
~ 1he mortpagor ronennnts u~ith t{~e mortgagee tf~a! the mortg4gor is int~e(easibly seized of said
land in Jee simple: that the mortgagor hw good rigl~t and Iaw(ul autho~ty lo convey snid land n: ajore-
said; that the mortgayor u~ill mblee such Ju~the~ ossurunces to per/ect tl~e jee simple title to snid land in ths
mortgagee as may reasonu6ly be require~; ff~a! t~e morfgagor here~y ~ul~y wwrants f~e ttlle to said ~and
and will de(end the same against the ~au~/ul claims o( alI perso?ur wl~omsoever; ond ll~at sa~d land is /ree
and ~[ea~ oJ Q(! encum~mnces except taxes accruing subsequent to December 31
1972.
i
~
~ ~
f
.
rou~ded ~lways, lhat iJ snid mortgago~ s{~nll paiy unto said mortgagee t~?e certain promis- I
sory nofe tipreina~ler su~st~nfia~~y copiecr or ic~enti~iec~, fo-u~il:
No~e dated Septe.-nber 30, 1972 ir. the amount o~ $2,000,000.00,
given by Lucille V. Costa, Inc. to New Jersey Realty A:ortSage
Company due or.e (1) year frora date cai~h interest at a rate
of t'r.ree and or.e-haif percent {3 1/2$) above t:~e prinle ra~e
charged New Jersey Real ~y Nortgace Co.~tp~:~y by r idelitv i:aion ~
`~'rusz Lo;r:pany, ii,te~~st r :'~MNi~i ^;~::rn~v_ ?
. ~
Tine r~ortgac~ee agrees to release trom the ].ien of t:~e r,:ortgage each
respective unit in the project upon tr.e paymer.t of the sum o~
Twenty-Five Thousand ~ollars ($25,000.00) of principal on accoLnt f
.
of sucr. unit wnich sum shall be appZied to the reduction of the
principal sum advanced under tr,e mortgage ur.til all su.-ns advanced
together with interest thereon have been paid in full whereupon the
l~iortgagee will satisfy the mortgage. .
~
;
• Note dated April /J , 1g73 in the amount of $4,000,000.00,
; given by L~.:cille V, ~csta anu George A. Costa ~o ~iew Jersey
; Reulty ~ior~gage Com~a:~y due one (1) year from date with
inter~st at a rate of tnree and one-half percent (3-1/2$)
a;~ove the prim,e rate charged New Jersey Realty Mortgage Com-
pany by Fidelitj U:~ion Trust Co;npany, interest payable
• month ly . ~
Th~ aforesaid Promissary note for which this ifortgage is secu ~
rity was executed and delivered in the State of Vew Jersey on the
same date hereof and is retair.ed in tne State of Ne;~ Jersey.
~ - -
,
~
~~CK~~~ ~~r„~~SV BQRK~~U PAGf2~~1 -
.
, ? N • .