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The Mortgagor hereby covenanta with the Mortgagee, thA6 he is indete~eib~ seiied o~ taid~land in !es
~impb or such other eststes J u~y aa is sta?ted derein; t~haL he 6aa tull power aad bwiul,right to ooavev tbe same
~s otorasaid;l,La~ tLe l~nd ~s iree ~rom all,eucum~n?noee e~?oep~ as hereia otherwiae recited; tha6 eaidMortgsgos
wiU maka such furt~?er a+asuranoes to pro~e We doreeaiid t+We to said luid in eaid Mortgagee as may be re~soo-
~yrequired~ and tha6 said Mortgagor cloes hereby i~ wuraati tLe title b s~?id land, and evee~ par~ t,hereot.
snd will deieud the sa~ne sgaias~ the l~?vriul oi~ims oi peasons whomsoever.
P1tOYIDSD ALNATe SLLL if t1~e Mortgsgor shsll psy wito ths Mortgoges thati oert~ain Pmmiesory note. oi
whicL L6e ioltowing is a substanwal coPJ, to wi~:
= 18, 000. QO Fort Pierce , Fiorida.
October 31 ~ 1974 '
Foa VwLVS R~cs[vsu, t,he nndere~ned Prom~ee(s) to P~i? to . .
Tfi~ IA~~SAS & NEPTI,EPON CaMPANY
, oorporstion ordsnised aad e~odtioa under tbe
1~~ ~State of Connecticut ~°i °~r, ~1° P~pP~ ~ EIGh'T.E~1`i TfiOUSAND AND
------------------------------no,/100 8, 000.00 with iaterest from date at
the rate otNINE_ E~ Oi~I3 HALF ~ Per centum Per annum an thc uapaid bslance until paid.
T~ esid principsl aad intereet ehall be P'?yable a! f~e o~ioe °t ~+he ~,oamas E~ Nettleton Compar~y
P. 0. Box 964
~ Virgini~ Beach, Virginia 23~1, ~ or at anch other plao~ as the hdder msy d~ste in writiaa
delivered or mailed to the deetor, in mon y mstallmente of ONE HUNDRID FIFI'Y ONE & 56~1J0
(i 151. j6 commencing on the 5rst dey d December , 19 7~ , sad oontinuing on the
Srst dsy oi esch month t6ereafter until tbia note is fully paid, eucept tLat, if not sooner pud, the final puy~o~
of pria~apv ~nd4nt,eres~ shall be due and psyable on the Srat day of October ~ 200~~ '1
privileige ia reeerved to prepay ~t any time, ait6out preaaium or fee. the entira ind~btedneee or sny psri ~
thaeoi aot less thaa the amoant oi oae instaWnent; or one huadied dollats (i100.00), whiehever ic less. Ytepayment In full
adall be credited on the date received. Partial prepayment, othet thaa on aa instdlaneat due date, need not be ciedited untll
the ne=t fo8owia~~nstallme~t due date or thlrty iys after such prepaymeat, whiclterer h eulier.
Ii sny deSciency m the pa ent of sny installmerit under this note ia not made g~ood prior to the due date
c~ n
of the ne~t such installmenL, , e entire principal aum and accnied interest ahall st once beoome dne and ps,y- _
sble without notice et the opt~on of the holder of tbia note. Failure to e~ercise thia option ahall not oonatatute
s waiver of the right to ezercise the same in the eveat of any subeequent defsuli.~ In the event of default ia tLe
psyment of t6ia note, and ii Lhe same ia collected b~ an sttorne~ st Lv~, the underaigned hereby sgree(s) to
psy sll coets o~ oollection, including a reasonable attorney's fee. ~ ~
Thia note is secnred by mo
r t
g a
g
e of even date euecuted by che nnderaigned on oertain property deecribed
tberein and represente money actu a
l~
y used for the acquiaiLion of said pmper~y or tLe impravamente thereo
~
.
Presentment, pmtes~. and notice are hereby waived. ,
~ ~3~i ~ ~ ie ~er"oert Sira~~se~ I~?LJ
FIILLIE ;~RSERT SIMPSON
~Lli=,l~i~o~f+e-a~sen-- ~~L~
_ ~+TILLIffi~lE SL-SPSON
' ~ . [ss~.l
~ -
€ And shall duly, promptly, aad fully pedorm, discharg~, execute, effect, complete, aad comply ~vith sa ide
~ by each and ever~r the stipulations, agreements, oonditions, and covenants of said promissory note and ,
~ morfgage, t6en thr~s mortgage and the estate hereby created shsll cesse and be null sad void.
The Mortgagor further ecvenants ss follows:
1. 1'het he ~vill pay the indebtedness, sa hereinbefore pmvide~. Privilege is reserved ~to prepay at aay time,
without premium or fee~ the entire indebtedness or say part thereof not lees than the amonnt d one installmeat, or
one hundred dollars (i100.00), whichever ia less. -
2. 1n order more fulh to protect the securit~ of this niortga~;e, the Mortgagor, together with, and in
addition to, the ~nonthl~- pa~u?ents unJer the terius of tl?e note secured l?ereb~, on the first ds~ of each ?nont_h
until the said notc is ftill~ paid, will pa~• to the tiiortgagee, as trustee, (under the terms of this trust as herein- -
after statecl) tlie following su~ns:
(s) A sum equsl to the ground rente, if s~uy; next due, plus the premiums that will next become due and payable
on polici~ of fire and other ha~rd insuraace ooveruig the mort888~ Pi'oP~Y, Plus taxes and s~nenta
nezt due on the mortgaged pmperty (aii as estimated by the Mortgagee and of which the Mortgagor ia
notifie~) lese a11 eums already paid thenfor divided by the number of mont6a to ~ before one month
prior to the date whea such ground renta, premiuma, taxes, and se~essmenta be~me delinquent~ .
such sums to be held by Mortgageemtnisttopayea~dgroundrents,premiums,ta~ces,andspecialass~nents.
(b) T6e aggreg~?te oi the amounts na able pursuaat to subparagraph (s) and thoee ps~
yabk o~ the note aecured
heretiy, ehall be paid in s aing~e PaYmeat e~ch month, to be appUed to the follownng items in the order
ststed ~
(n ground reats, taies, aseessmente, fire, and other hssard inurauce premiuma;
~ (II) intereat on the note secured herEby; ead
(IIn amortisstioa of the principal of aaid note.
~ Any de&eiency in tbe smount of suchaggre~ate monthly payment shall, unlesa made good by the Mor~
gagor pnor to the due dete ot Lhe next such peyment~ const~tute an event ot default under this mortgage.
At Mortgagee's option, Mortgagor will pay a"lste cliarge" not exceeding four per centum (4~J'o) of any ~nstall-
ment when paid more than fifteen (15) days atter the due date thereof to cover the extra expense involved in
handling delinqnent payme nta, but such "late charge" shall not be psyable out of the proceeda of any sale
anade to sat~sfy the indebtkdness secured hereby, unless such proceeds are sufficient to discharge the entire
indebtedness and ~11 pmper costs and ea~penses secured thereby.
3. If the total of the pa~-ments made b~ thP ~lortgagor under (a) of pura~ruph 2 prececling sLall exceed
the amount of parmenls actuail~ mad~ b~• t~~e ~1ortKsKer, as trustee, for ground rents, taxes and assessments, -
and insurance premiun?s, as th~ ~ase n~u~• be, surh excess shall be creditecl on subseyuent pa~'ments to be made
by the Mongagor for su~h itcros or, ui Mortgugee's option, as trustee, shall be refunded to Mortgsgor. If,
however, such monthl~ pa~•ments shull not tx~ suffii•ient to pa~- such items when the same shall become due
and pa3~able, tlien t.lie hiortgagor si~oll pa~ to the Mortgoge~~, a4 trustee, nn~- amount necessarv to make up
" the deficienc~-. Suth pa~•ment sLall be made within thirt;v (30) da~~s after w-ritten notice trom the Mortgagee
ststing the amount of the deficiencv, which notice may be given by msil. lf at any time the Mortgagor ahall
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