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Home My WebLink About0086 The Mort{~agor hereby covenanta wit6 t6e Mortg,~ee~ twat he ia indefeasibly sei~ed ot said land in foe eimple or such other estatet ii any as is atated herein; that !ie has fuU power and lawiul right to convev the same ae sfaresaid; that the l~nd ~a iree ~rom all encumbrances except us Lerein ot,}~erwise recit~ed; t6st said~iortgagor - will make auc6 furLher asaurances to provo the aforesaid title to said land iri aaid MortgeE;ee us may be rw~son- ab!yrequired~ end thet said Mortgagor does hereby fuUy warrant the title to said land, and every part thereot,~ snd will defend the ssme agsinst the lawful cl~?ima oi alt persona w6omsoever. PROV~nsn A~.w~Ya thst if the !1lortgsgor shaU pay unto Lhe Mottgagee t6at ce~tain promiseory note~ of ~vhich the following is ~ subst,antial cops~ to wit: i?7, 4()c). 40 Fort Pierce , Florida. Merch 4 ,1975 . FOR VALUB RECEIV~D~ the undersigned pmmise(e) to pay to THF IAMA S Rc NFTI'LF:TON COMPANY , s oorporation organised and eASting "under t6e la~ve oi the State of Connecticqtnr order; the principal sum of SEVEN THOUSAND FbUR AUNDRFD and no/100-----------------------~llars (i 27,4t)0.00 with interest ~rom date at the rste of EI(~'tT per centum ( 8%) per annum on the unpuid balance until paid. The said principal and interest ahall be payable at the ofl'ice c?f ~i~he Lomas de i~ettleton Con~pany P. 0• Box 964 in Virginia Beach~ Virginia ?3451 ~ or at such other p1acE ag the holder may designate in writing delivered or mailed to the debtor, in monthly install~nent$ of ~lp H~p~iDRF,D ONE and 1?~10~---_--~ollars ?01.12 commencing on the first day of ~(Ay , 19 75 , and oontinuing on tha Srat day oi each month thereafter until this note is fully paid, except thet~ if not aooner paid, the final payment oi princapal and interest shall be due and payable on the first day oi April ~?(X15 • privllege is reserved to prepay st any time, without premium or fee, the entire indebtedness or any part thereof not less thaa the amount o[ one installment, or one lrundred doUars (s100.00), whichever is less. Prepayment in full s6a11 be credited on the date received. Putial pr~payment, ot6er than on an iastallmeat due date, need not be credited until the next following installment due date or thirty days after such prepayment, whicdever is earlier. If any deficiency in the payment of any installment under this note is not msde good prior to the due date of the next such inst+?llment, the entire principal sum and accrued interesL shall at once become due and ~sy- able without notice at the optaon o! Lhe holder of Lhis note. Failure to exercise this option ahall not constitute a waiver of the right to eaemase the same in the event of any subsequent default. In the event of default in the payment of t6is note, and if the same ia collected by an attorney at law, the undersigned hereby agree(s) to pay all coste of collectiod, including s reasonable sttorney's fee. This note is secared by mortgsge of even date executed by t6e undersigned on certain property described therein and represents money actuallp used for Lhe acquisition of said property or the improvemente thereon. Presentment, protest, and notics are hereby waived. , ~~L~~,liam Su].liven He~ri.tt. [sg,~,l WILLIAM SULLNAA HEi~1ITT, JR. &1 .Ei 1 Pan A_ Aavi t4: [SF'AI'] ( FILF.EN A. HE'FTITT € - - [S~] ~ ~ ~ [sE,+L) ~ ~ And shall duly, promptly, and fully periorm, discharge, execute, effect, complete, and comply with and abide ~ by each and every the stipulations, agceements~ conditions, and covenants of said promissory note and of this ; mortgage, then this mortgage and the estate hereby created shall cease and be null and void. ~ The hiortgagor further covenants as follows: ~ 1. That he will pay the indebtedness, aE hereinbefore provided. Privilege is reserved to prepay at any time, 4 without premium or fee, the entire indebtedness or any part thereof not less than the amount of one ?nstallment, or ~ one hundred dollars (=100.00), whichever is less. ~ 2. In order ~norn full~- to pmt~~~•t thr s~~rurit~- of tliis niort~u~~~, th~~ ~iort~;n~r~r, togeth~~r K•ith, and in ud~lition to, th~~ monthl~- pa~•ments und~•r th~ tt~n~i~ of ih~~ notc~ sc~~•ured h~•reb~•. on th~~ first da~- of ~~a~•h n~onth ~ until th~~ sui~l not~~ is (ull~• puid, Hill pa~• to the• ~tortgu{:~e, ns truste~, (un~l~r ihi~ t~~rn~s of thi. trust ~~s hi~r~in- ~ uft~r stated) the f~~llo~~~iiig sunis: _ ~ (a) A sum equal to the ground renta, if any, nert due, plus the premiums that will next become due and payable ~ on policies of 5re and other hazard insurance covering the mort,~aged property, plus taxes and assessments ~ next due on the mortgaged property (all as estimated by the Mortgagee and of which the ~iortgagor is ~ noti6ed) less all sums already paid therefor divided by the number of months to elapse before one month ~ prior to the date when such gtound rents, premiums, taxes, and assessments will become delinquent, _ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialas.sessments. ~s (b) The aggregate of the amounts paynble pursuant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a singk payment each month, to be applied to the following items in the order _ ststed: _ (I) ground rents, taxes, sasessmenta, fire, and other hazard insurance premiums; = (II) interest on the note secured hereby; and (III) amortiaation of the principal of said note. a Any deficiency in the amount of such a~gregate monthl~ payment shall, unless made good by the Aiortr : gagor pr~or to the due date ot the next such pa~'ment, const~tute an e~ ent of default under this mortgage. ` At riortgagee's option, Mort~agor will pay a"late charge" not eaceeding four per centum (4°Ja) of any install- - ment when paid more than fi'ftecn (15) days after the due date thereof to cover the extra expense in~ olved in ~ handling delinquent pay•ments, but such "late charge" shall not be pa} able out of the proceeds of any sale made to satisfy the ~ndebtedness sccured hereby, w?less si~ch proceeds are sufficient to discharge the entire = indebtedness and all proper costs and expenses secured tl~ereby. - :3. If th~ total o( ih~~ pa~-m~ntc mnd~~ b~• tlu~ ~1ort~uror un~l~~r (a) of pur~~rupl? 2 pr~•~~~•~lin;; shall excced th~ nmount of pa~-nient~ urtuuU~~ m~~~l~~ b~- tli~~ ~lort~;u~;e~~, as truste~•, f~r rround r~mis, taxes and ussc:ssments, - and insuran~•e pr~•niiun~s, us th~~ ~~as~~ nu~~= bc•, su~h ~~.r•ce~ss shall tx~ cm~lit~~l on subs~~quent parnu~nts to t~ made ax b~ the ~1ortKugor for su~•h it~nis c~r, ut ~iortga~~~~'s option, ati irusiec~, shall bc~ r~~fuuded tc? ~4ortgsgor. If, - however, suc}~ ii~ont}?1~• pa~•ments sl~ull nnt I?~ sofTi~•i~nt to pi~~- so~•h ite~~~s whe•n th~~ same shnll becom~ du~ - and pat•uble, ti?en ihe \1ort~;a~?or ch:~il pi~}• to th~~ ~1orl~;u};~~•. :~s iruste~~, un~- uiuount nec~c~ssar~ fo make up _ the de~icienc~•. tiuc•)? pa~-ini•nt ~hall b~ n~ad~~ Hithin thirt~~ (:{0) da~-s ufter NFilten notic~e from t~~e ~'Iortgagee stating the amount of the deficienc}•, ~~•liich notic~ may bg ~i~ bv mail. If at. any time the Mortgagor svall eouK ~3~ oac~ $6 ~ ~ - ~ _ u ~e . ~ _ . _