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Tbe Mort,gagor 6ereby, covenant,a with the Mortgagee~, ~hat he is indete,~?~ibl seizod ot said bud in !ee
simpie or such oth~r estate~ ~i any as is s~+?ted hereia; 6ha6 he haa tull power ~nd 1~ ul right to ooavev the awrae
as ataresaid; 4hat the taad ia iree ~+Om ~?ll encu~ubrauces exoept as herein otherwise recit~ed; that saidMortgsgor j
~vill make such turLher aesur~nces to W'ave tb?e aiocee~?id title to eud l~ad in said Mortg~gee ~s mi?y be re+~son- ~
ablyreq uired, snd th~t said Mortgagor Joes hereby IuUy warraa6 the tiWe to said l~nd~ snd every part Lhereoi,
wd ~rill defend the same agaiast the lawiul claima of all pereone whomsoever.
PROYIDBD A4NAY6 t~l~t if the Mottgagor aball pay unto the Mortgsgee Wat certain PmmiseorY note~ oi
~ which the following ia a substsnt~ivl ooPS~ to wi~:
` ~ 24, 000.00 ~ Fbrt Pierce , ~lorida
Septemher 23 , 19 7~+ .
FoR Vwuuc Rscs~vsu~ the undereig~ned promiee(a) to pay t~o €
~
'I~~ IAMpg dc IifI~`I*I'LL"1~ON COt~ANY i
~ s oorporation organi~ed and e~risting under tbe ~
Iswe ot State o~ Connecticut ~ or order~ the principal sum ot ~T~'i7 ~OUR TKOUSAND APID °
--------------------------,.--------no~100 Dollars (i 24~OOO.QO with interest fmm date at ~
the rste of I1I2tE & ONE HALF P~ oenLum ( 9~ P~* annum oa the unpaid balance until psid.
~~d p~in~ipal and interest shall be payable at the o~ce of 2'he Lomas & Nettleton Co~ttpanY
a
P. 0 • Box 962+ ;
~ Virginia Beach Virginia 231~ 51 , or at such other plaoe as the holder may designate in writic?8 ~
delivered or mailed to t~e debtor~ in monthly installmenta of ~p 'I410 AND - --8~1C~~~ _ '
19 t~ , and ooatinuing on the ~
~i 202.08 commencing on the firsi day of November • 7
first dsy of each mont~h thereafter until this note is tully paid, ezcept tbst, if not sooner paid, the final,payment
of p~~pa? snd interest aheU be due and payable on the firat dsy of September , 004
privil,ege is reserved to prepay at any time~ Without premium or fee. the entire indebtedneas or any put
thereof aot leas t6aa t6e amount of one itutallmeat, or one huadred dollais (;100.00). wl?ichever is less. Yrepayrr~eat in tull
shaU be credited on tde date received. Partial prepaymeat, otber thaa on aa insWlmeat due date, I1Eed ifOt ~ CLC~1~ LDt1I
the next idlowing tnstaUmeat due date or tl~rty days atter wch prepaYmeat, whichever is earlier.
g any deficiency in the paym ent of sny instalLnent under thia note ia not made g~ood prior to the due dste
of the neut sucL inatsllment, t~he entire princiPsl sum snd accrued intP.reati ahsll at once beoome due and ~ay- .
able without notice at tLe option of the hoider of t.his note. Failuc+e to exercise thia option shall not oonstitute
a waiver of the rigLt to ezercise the same in the event of anv subeequent defsul~ In the event of default in tbe
payment of thia note, and if the ssme is collected by an attorney st la~v, tLe underai8ned hereby agree(s) to
psy sll oosta of collection, including a reasonable sttorney's fee.
Thia note ia secured by mortga~e of even date eaecuted by the undersigned on certain property described
tberein and representa money actually used for the acquiaition of eaid proper6y or tbe imProvements then°a
Preaentmen6, protest~, and noticp, are hereby waived. '
~ [S8J1L]
/ Porrr~L ~o~s ^ ^
~
- ~ PAULII~ 130BLE
_ [SEAI,]
I ~~L~
;
i
~ And shall duly. pmmptly, and fully perforon, discharge, execute, ef[ect, complete, and comply with snd abide
by each and every the stipulations, agreements. oonditions, and covenantis of said proanissory note and of this
~ mortgage, then thia mortgage and the estate hereby crested shsll cesse and be null aad void.
~ Tbe Mortgagor further covenants as foUows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is re.9erved to prepsY at any time,
without premium or fee~ the entire indebtedness or sny part thereof not less than the amount d one installment, or
one hundred dollais (i100.00), whichever is less- "
2. In order roore full~ to protc~c•t the sr<•urit~' of th~~ n?ort~a~e, the ~tortgagor, together with, and in
uddition ~o, the nionihl~- pa~•n?ents undc~r th~ terms of tl?e• note se~•ure~i ht~reb~-, on thr first da~• o[ each ~nonth
until the said nMi• is full~ paid~ ~ill puc to th~ ~lortga#;~•~, as tru.Stec, (uml~r tii~ tern~5 a[ this trust as 1?erein-
a[t~r stated j the fullot~ in~ sun~:
(s) A sum equal to the grouud rents, if sny, next due, plus the premiums that will next become due and payable ~
on policiea of fire and other hasard insurance covenng the mort~aged pmperty. plus taxes and assessments
next due on the mortgaged propertY (all as est~msted by the ;~+iortgagee and af ~vhich the Mortgagor is ~
notified) less all sums alreadY Paid therefor divided by the number of months to elapse before one month
prior to the date w6en such ~round rents, premiums, taxes, and sssessments will become delinquent, ~
such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,ta:es,andspecislass~nents. ~
(b) The a~gregate of the amounts,payable pursusnt to subpsragraph (a) and those payable on the note secured ;
hereby, aha11 be paid in a~ngle paYment each month, to be applied to the following items in the order ±
stated ~
~I~ ground rents, taxea, assessments, fire, and other hasard insurance premiums;
~ (II) interest on the note secured herebq; and
(IIn amortisation of the principal of said note.
~ Any deficiency in the amount ot such ag~;re~ate monthly pavment shall, unless made good by the 14iort-
~ gagor pr~or to the due date o[ the next sucii pa~ ment, const~tute an event of default under this morLgage.
At Mortgagee's option, Mortgagor will pay a"lste ci~arge" not exceerling four per centum (4°Jo) of any install-
~ ment when paid more than fitteen (15) days after the due date thereof to cover the extra expense involved in
~ handling delinquent pavments, but such "late charge" shall not be payable out of the prceeeds of any sale
made to satisly the ~n~ebtedness secured hereby, unless such proceeds are aufficient to discharge the entire
indebtedness and sil proper costs and expenses secured thereby.
3. If the total o( the pu~'iiirnts mal~ h~' tLe ~1oriKa~ar un~l~r (a) of pnra~raph 2 prc~cedin~ shall exceed
ihe amount of pa~'menis actuull~' nia~l~ h~- tl~e ~tort~;a~ee, as trustee, for groun~l rents, taxes and assescments,
and insurance pr~miiuni~, us th~~ c~ ma~' be', su~h excess shall be~ credited on sui~seyuent pa}'ments to be made
~ b~ the ~tortgu~;or for suc•1~ ite~~~s or, ut ~iorig~~e's option, us trustee, shell tx~ rn~unded to ~iortgegor. If,
however, su~h u~onthl~- pa~•ments shall not 1?r suffi~•icnt to pa}- sw•h itaus whcn the same shall become due
' and pa~•able, the» tl?e ~IortKa~;or shal) pn~• to th~• tiort~a};M~, a4 trustc~•, un~ an~ount necessarv to make up
~ th~ de~icienc}~. Surh pn~•incnt sl~all lx~ made Hithin thirl~ (:i0) du~'4 :?fler written notice from t~ie ~Iorigagee .
sLating the etnount of the deficienc~, wi~ich notice may be give` Ry mail. If at any time the Mortgagor ahall -
eeoK 23z ~cE 792
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