HomeMy WebLinkAbout0324 i,' i
The Mortgagor hereby coveneata with the I1lortgagee~ that he is indetes.aibly seir.ed at said 4nd ia fee
simple or such otber est~a6et d any ae is atst~ed oerein; U?ut he haa tull power u?d law~ful right to coovev the swrue
ae siareaaid; t,he6 the l+~nd ~s iree ~mm eU eacumbnnoes except as heeein otherwise recited; tbat said~tortgag~c
will mske such furt,her 4saursnces to pmva t6e,aforesaid title to said laad ia said Mortg~gee ~s Quy be re,aeon-
~blyrec~uired, and tbat said Mortgagor does hereby fully wuna6 the tiUe b said laad~ and ever~ pai1, thcr~eot~
and will defend the same agaiast W?e 14wfu1 claims oi att pareoas whom.9oever.
PaovtDSD ALw~Ya that ii the rio~tgagor ahall p~y unLo ths MactBag~ee tbst oe~aio Pr°m~s~0~7 °O~~
~rhich ~he following ia ~ subatantiat ooPf~ b wi0: -
; i17, 000. C~0 Fort Pierce ,~lai~
Sep~emoer 2v, l~
Foa VwLUg ftscatvan~ the undereng~?ed Promi9e(s) Lo P,Y ~ "
THE IAMAS & ~ ~ ,'ON OOi•'iPAI~TY .
t~e
~ ; + a °°rp° SAh~J
~ 1~~
ls~vs of State oi Connect_cut , or order~ the principal sum ot 1
Doilars (i 1(, s:,~.~~ with interest irom d:te at =
the rste of NINE & ONE 'rfALF P~ oentum Per annum on tbe un~aid balsaoe unW paid.
The said principal~snd interest shaq be paYable at the o~'ice nf
2'he Ia~as & Nettleton Compan,Y - P 0 nox 9~+ -
Virginia Beach
~ Virgini~ 23~+51 ~ or at suc6 other p1a~oE as the hdder msy d~ste in writin6
delivered or mailed to t6e debtor, in moathly instaUments of p~~ n~;~~; i: r`URTY ~+~'~EE `-tir~~~~~~
~SlZ?3. i4 commencing on the first day of I~iove~ber , 19 aad oontinuina on tLe
fiist dsy oi each month thereafter until this note is fully paid~ eaoept that, it not sooner paid, tbe final ~~ent
of princ~psl and interest shall be due end payable on the first day of Sep -e.Tber -
privilege ia reserved to prepay at any time~ without premium or fee. tLe entire indebtednees or an~ Part
thereof not less Wm the uaount ot one instaUmeat. or one hundred dollars (s100-00). ~hx~K a k~ h~P~Y~°t1° ~
shall be credited on the date received. Putia! prepayaient, other thm oa an ~aWlment due date, aeed not be aeited nnW
the next toUowiag installment due date or thirty days after such prepaYment. w6iche~er is esrlier. "
If any deficiency in the payment of any installment under tbia note is not made g~ood prior to the d~e date
of the next such installment, the entire principal sum and sccrued intereat shall at onoe bc+o~me dne and pa~
able without notice at t~he option of the holder of this note. Failure to eie.rcise this option sba11 ~t oonstatute
a waiver of the right to e~cercise the same in the event of sny subeequent default In th~ e~eat of default in the
papment of thia note, and if the same is collected by an attorney st Lw, the undusigned beseby agi+ee(s) to
psy all costa of oollection, including a reasonable attornep a fee.
This note is secured by mortga~e of even date eacecuted by t6e undersigned on oertain proP~1 ~
tLerein and represents monep actually used for the acquisition oi sa~d property or tLe imp~'ooemenir tbereon-
Presentment, proteat, and notice are heceby wraived.
~ r ~ n a a ~SBAI~~
~r -isnn
Airii~GitY 'I~iG;~iAS
_r',~.i~,a~s. d ~a~F.s [~L]
y •j~ T • "'r-'-; C
~ y .:lri ii ~ _:lv~ ~ (
ISBAL~
, [SBAI.]
~ And shall dulY, Promptly, and fully perform. discharge, eacecute~ e~ect, oomplete, and oomply ~ith and abide
~ by each and every the stipulations, agreements~ coaditions, and oovenants of ssid pro~nn~ssory note and of thea
~ mortgage, then this mortgage and the estate hereby created shsll cease aad be null sad ooid.
The 1liortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reser~ed to prepsy at anv time, -
without premium or fee, the entire indebtedness or suy part thereof not less thsu tLe amount d aoe in~allmeut, or
one hundred dollars (i100.00), whichever is less.
2. In order ~nor~ full~• t~ protc~rt th~~ ~~~curit~~ of ihi.c mortga~~•, tL~~ \tort~a~or, togetl~er w-ith, snd in ?
addition to. tlu~ ~nonthl~- pa~•uients unde•r th~ it•rmc of th~• notc~ u~rurc~l he~rnL~-. on thr fint ds~- of ~•arL mont}i
until tL~~ sai~l not~~ is full~- pai~l, ~'ill p:t~- to thc~ ~lortKa~;~~. n., trustc~c•. lund~r ti?r t~•rui, c~f tli~ irtL:t i~ernin-
aft~r statecl) the Gdlo~ri~i~? suu?s:
(a) A sum equal to the ground rents, if any, next due~ plus the premiums that ~vill nest beooine due and Fas'aNe
on policies of fire and other hasard insurance oovering the mort~aged property, plus tauces aad a~ents
neut due on the mortgaged property (a11 as estimated bY the ~iortgsgee and of whieh tLe ,~ort~agor is
notiSed) l~s all sums alreadY Paid thetefor divided by the number of mor,tbs to elspse before a~e month
prior to the date when suc6 ground rents, premiums~ ta~ces, and a~ts ~ill beovme delinquent,
such sums to be held by Mortgageeintnisttopaysaidgroundcrnts,premiums,tues,a~spee~ali~ents- .
- (b) The agqregste of the amounts payable pursuant to ~bparagraph (s) and t6ose paysble on tbe note ~eev*+ed
hereb~?, shall be paid in a single payment each month, to be appl~ed to the fdbwin6 items in tlx o~der _
stated
(I) Bround rents, taues, a~sessments, fire, and other hazard insuranoe premium$;
~ (II) interest on the note secured hereby; and
u~
~ (III) amortiastion of the principal of said note.
~ Any deficiency in the amount of such a~reRate monthlr pa~~ment shall, unless made good bi t6e tiort-
~ gagor pr~or to the due dste o[ the next such ~Pa~-ment, consUtute an e~ ent of defsult under this mortgage.
At :~iortgagee s option, Mort~agor will pa~ a' Iate char~e" not eaceeding four per crntum (!°Jo) of an< <astall-
~ ment w6en paid more thsa Sfteen (15) da~s after the due date thereof to cover the extra expense in~olred in
handling delinquent ~avments, but such "late charge" shall not be pa}•able out of the p~nceeds of an~ sale
~ made to satisfy the ~naebtedness secured hereby, u~iless such proceeds sre sufficient to dischuge the entire
~ indebtedness and all proper costs and eape~nses secured thereby.
:i. tf ih~~ total of thc• pa~-ioc•nts nia~li• h~- tlu~ ~loriru~?or un~l~~r (a) uf par~trrph ? pr~rc~~in~ sliall ~acced
~ thr un?ount of pu~•m~nt~ uc~tuull~- iu~uit~ ii~- tlu• ~1ort}:v~~•~•. a.c irustc~c•. tur ~:rouu~l r~~ntc, ta_ces and ~.~+~~~ents.
~ and insuran~•e pr~~n~iunis, u~ th~~ c•u~~• uui~- bc~, such P~c~~ ~h:~U IM c•re~lit~~~l an ;ui?s~•yurni pa}v~ents to be made
~ b}• th~ ~1ortKu~?~?r for sa~•h itcn~~ c~r, ut~ ~tortga#?c~~'s option, i?e inistc~•. ~tiall tx• rnfunded to ~~ort~agor_ If,
howe~er, sueh ii~ontl~l~- pu~-ments shul) n~?t IH~ sufli~•i~nt to pa~- ~u~•h it~~~~~s Wh~n tt~~ sa~ne shall lxco~ne due
~ and pa~•able, th~n the \1orl~a~;or .h:~U pa~• 1~~ th~• ~1or~~ak~~~•. trusttK•, au~- ~u~ount nrcf~an to make up
~ E1~~ de~icienc~•. tiuch pa~'nii•nt sl~all tx~ ~n;~~l~• Nithin tl~irt~ 1:t0) da~'~ .~itrr v?ritten noti~-e frntn the liortgag~ee
~ stating tl~e amount of th~ deficienc}•, ~~hich notice map be gi~e~ b- ia+l_ !f at an~ time the ~iort~agor s~all
~~iU3~ ~+tJ~ ~f
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