HomeMy WebLinkAbout0303 The ]~Iortga~or Lereby oovensnb with tbe Moztgageey t~?t Ls ir ~ndetea~n'b2y setsed oi ~aid land in iee
imple or auch other estste~ ~t~any ae ia atsted he~ein; tbaat he L~s tull po~ver and lawful.right to oonvev tha eame
~+s Jores~id; that the latid ia ireei ~rom all eacumbriwoes e=oept as Lere~a otber~vise recited; thut said l~dortgsgor '
~vill mske sucL fi,rther assuranoee to prove the doreeaid ~itle to ~sid Lnd ia said Mortgogee sa may be reasoir
sblyrequired, and thet said Mortgagor does 6ereb~ f~ ~r~rranti the title to ~aid Lnd, and ever.y psr6 iLereof~
sad wnll deiend the ~ame agsins~ the Lwful qlaims oi perw~x ~vhoms,oever.
PROYIDBD AL7f?ATd tL8t lf ~Ie ~OT~~O~' db~ ~ y11tQ ~O Mprt~a~ee yu?t oertai~n pmmie~ory note, o~
which tLe~follo~ring is ~ aubetantial coPJ, to wii~:
= 20,650.00 FORT PIER
MARCH 5 • 1~~5 •
Fng V.T.rrs R~t.vto. t1~w unri/w:r.+w~i .?.n.ni..~.l f...,.~ f..
j --i~ ~ ' . i'~ ° s'7
THE LOMAS 6 NETTLETON COM"rANY ~ s~~ ~r !1~
]~we o[ THE STATE OF CONNECTICU~ae Qedet~ tLe principal eum of ~~y ~OUSAND SIX HUNDRED FIFTY
~ NO/ 100------- I)oilars (i 20 650 . 00-- witb infereet irom date st
the rste at EIGHT ~ ONE HAI.F P~ ~ g~/~ffo) P~ aaaum on t6e unpaid balaaoo unW pnid.
The ee?id principal snd intR.reet shaII be psyable ~?t the o~'ice TNE LOMAS ~ NETTI.ETON COMPANY,
175 Orange Street -
in New Naven, Connecticut, 06510 , or st euch o~Fber p1i?oe as the bolder msy deeignate in writin6
delivered or me?iled to the debtor~ in monthly installments af ONE HUNDRED FIFTY-EIGHT & 80/ 100 ~lls~s
(i 158.80------ commencing on the 5ret daY ~ MAY , 1975 ~~nd eontinuin6 ~ the
Srat dsy oi each month thereafter until thia note is fully paid, aaoept tLat, if not eooner p~id, tbe Snal payment
oi principal and interest ahall be due and payable on the firat dsp of ppRIL , 2005
Privilege is reserved to prepay st eny time, without premiunn or fee~the entire indebtedneea or anp parti
thereof.not lesa th4n the umount of one installment, or one Lundred do (i100.00), tvluchever ia less.
If any deficiency in the paym ent of any installment under thia note is not made good prior to the due dat0
of the neat such installment, the entire principal eum and aocrued intei~eat ahall at onoe beoome due snd pay
able without notioe at the option of the Lolder of thia aote. Failure to eaerci,ae thia option shall not oonatatute
s c? aiver of Lhe right to exercise the same in the event of sny subaequent defaul~ In the evant of deisult in the
payment of this note, snd if the ssme is oollected by aa sttorney st lsw, the un~dere~gned hereby agree(s) to
pay all oosts of collection, including a reasonsble sttorney'a fee.
This note is secured by mortgage of even da~q ezecuted by tLa tiadere~gned on eertain prope~ty described
therein snd represents money actually used for t,6fe soquieiLion of said prapert~y ~or ibe improven~anis thereoa.
Presentment, protest, snd notica ate Lereb~ ~vai,vod.
- c~?j:~
' RICHARD `iILMER SELL
4
~ TONI ANN SELL
f [8611L]
F
' [88AL~
i
` And ahall dulY, P~P~Y. ~nd fuDY Pe*fo*m, diecharge, e:e~ute, e8ect, eomplete, snd- eomply with and abide
' by each and every the etapulations, agreement8, oondition$, and eovensuts of esid promieeory nots snd o[ this
no*tgage, thea thia mortgage and the estate hereby ez~?t~ad abalt oeaee and be nnll aud roid.
~ The Mort~asor further covenaata aa followa:
~ 1. That he ~*ill psy the indebtedneea, aa hereinbefa~e provided. Privi'1eg~e is reeerved to ptr~pey st any time,
~ without prem~ium or fee, the entire indebtednees or any p~sit tLereof not ]~eee tbsa the ~mount of one ioatsllment, ot
~ one hundred dollars (i100.00), ~vhichever is leea.
~ 2. In order more fully to protect the accurity of thie mortgage,~ the Mortgagor, together ~vith, and in
` ad~lition to, the monthl~- pa~ments under tlie terms of the note eecured hereby, on the first da~ of .~ach inonth
uutii the said note is full~• paid, aill pay to the Mortgagee, ss trustee, (under the terms of this trust, as herein-
n attcr stated) ti?e following suma: •
~ (A) A eum equal to the ground rents, if any, ne:t due, plus the premiuma that will next became due and peyable
; on policies of fire and other hassrd ineurance oovering t6e mortgaged progerty, plus texes and aesessment8
~ neat due on the mortgaged property (all ~re estims?ted by tbe Mortgagee snd of ~vhich the Mortgagor is
notiSed) lees alt sums alrea,dy paid therefor divicied by the number of months to ela~pse before one month
prior to the date ~vhen such around r~ta, premiuma, tsxes, and ~te w~ill tiecome delinquent,
such suma to be held by Mortgageeintiuattopsyeaid6roundrents,Pn'~~,~~,andspecialaeeessmenta.
(b) T6e aggregate of the amount$ pa able pu~susat to eubpara6raph (s) aad thoeeps~yab1e on the note secured ~
~ hereby, ~hall be paid ia dng~e P~?Ymaat each month, to be spplied t~o Lhe f~llowing iteme in 1hs ord~t
dated
(I) ~und reate, ~'e, aad other basArd iasuranoe premiuma;
(In inte.rest an the note oecured hereby; aad
(III) amortisation of tbe principal of aaid note.
: Any deficiency in the unount oi sucha~eg~
te monthly psyment aLall, nnlees made ~ood by the Mort~•
- gagor prior to the due date of the next suc
~hps
S~ment, const~lute an event of default under this mort~a~e~.
- At Mortgagee s option, Mo agor ~vill pay a lsts charge not ea~oeeding four per centum (4~Jo) of any install-
rtg v
= ment when psid more than fitteen (15) days stter t6e due date thereof to oover the extn eapenae ~nvolved in
= handling delinquent paymenta, but such "l~te charge" shall not be psyable out oi the proceeds ot any eale
made to satisfy the indebtedness secured hereby, unless auch proceeda ue su~cient tio diecherge the entue
indebtedness and all pmper coste and expenses secured thereby.
3. If the total of tlie payinents macle b~ the Mortgagor uoder (a) of paragcspl? 2 preceding a}~all exceEd
tl?e amount o[ pa~ ment~ actuall_v made b~ t~ie Mortgagee, as truatee, for ground rents, taaes and assessmenta,
- snd insurance gre~~iiun~, as tl~e case msy be, such eacesa sliall be credited on subsequent payments to be made
`s b~ Lhe ;~iorigagor for aucL itema or, at Mortgagee'a option, as truatee, shall be refunded to Mottgagor. Tf,
ho~vever, sueh ~uonthly pa~~nenta ahall not be eu~cient to psf such items ~vhen the w~me ahall become due
axd pa -able, tlien the Mortgagor al~all pav Lo the Mortgagee, as truatee, any anwunt necessary to make up
the d~ciene~. Such ps~-ment al~all be macle within eh'vty (30) dava efter written »otice (rom the Mortgagee
stating tbe amount oi tho deficiency, xLich notice may be gi~e~n by mail. It ati any time the Mortgsgor ~11
800K ~J / ~ACf ~z
.
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