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Home My WebLink About1455 . _ The Mortgagor hereby oovennnts with the Mortgs~ee, that he ia indefeasibly erized of asid lsnd in fee simple or such other eatatet if any as ia etated herein; thxt he has tull power and lawiul right to convev the sR~ne ~a ntareaaid; that the laud is ireo ~rom all encumbrancea except as horein otherwise recited; that said I~iortgsgor ~vill make such fur~her ~surancea to provo the aforosaid titte to eaid land in said biortgagee as may be rexson- sbly re~guired~ and that said Mortgagoc doee hereby ful!y warrant the title to said land, and every part? tl?ereot, and will defend the same sgainat the lewful claima oi ~il pereons whomsoever. PROVIDED AL~ITAYB ~Bt lI tt19 I~~OT~'~QT B~ldll piy 11IILp ~ MO!'~BgN ~R~ 06TGIlI1 ~11"OM188p1'9 n0~~ O~ ~rhicL thafolloMing is a subst~ant,ial ooPf, to ~v~tt; i 40,000.00 Fort Pierce iFlorid~. Piarch 17 i 1975 . Foa Vw~.vs ~scuvsn, tLe unde~ed promiee(e) to peyr to THE LOMAS ~ N~TTI.ETON COZiPANY , s oorporstioa or6aaised and e~datin~ under tbe ]s~vs oE T~iE STATE OF CONNECTICLtTor order, the principal sum of FORTY THQUSAND and no/ 100---- Dollars (i 40, 000.00--- with intereat from date st the rate of .EIGHT---------------- P~ centum ( 8 °Jo) P~ annum on the unpaid balanoe until paid. The said principal and interest shaIl be payable st the o8'ioe af The Lomas b Nettleton Company 175 Orange Street ~ tiew Haven, Connecticut 0651Q , or at euch otber plaoe as tbe holder may designate in writ:ng delivered or mailed to the debtor, in monthly installments of ~,~p ~Dg~ NII~iI:TY THREE AND 60/I80lara 293.60------)~ commencing on the first day of Z~y ~ 19 7S, and oontinuing on the first day of each month thcreafter until this note is fully paid~ etoept that, if not eooner paid, the final payment oi princ~pal and interest shall be due and payable on the first day of ~RI,~, ~ 2005 Privile~e is reserved to prepay at any time, without pr mium or fee the enture indebtedneas or any patt thereof not~less t.han the amount of one u~stallment, or one~undred dol~ars (a100.00), wtuchever ia l~ss. If any deficiency in the payment of any installment under this note is not made good prior to the due date of the nett such installment, the entire principal aum and accrued intereat shaU at once bc~come due and ~ay- eble ~cithout notice at the option of the holder of this note. ~'ailure to exercise this option aLall not conatitute a«~aicer of the right to e.terc?se the same in the event of anv subsequent default. In the event of defsult in the pavment of this note, and if the same is collected by an attorney at la~v, the undersigned hereby agree(e) tp pay all costs of oollection, including s reasonable attorney's.fee, This note is secured by mortgage of even dat.~r executed by the undetaigned on certain property desen'bed therein and repreeente money actually used for We acquisition of aaid property or the improvaments t~?areon. Presentment, protest~ and notice sre hereby ~vaived. [s~r?L1 DETLEF WOLFGANG SCHULZE ~88AL~ PATRICIA RAY SCHULZ~ i~a ~ ; And shall duly, promptly, and fully pedorm, discharge, execute, effect, eomplete, and comply with and sbide ; by each and every the atipulations, agc+eements, oonditions~ and oovenants of said promiseory note and of this ~ mo*tgage~ then thia mortgage and the estate hereby created Qhall oea9e aud be null aad void. The Mortgagor further covenanta aa follows: ~ l. That he will pey the indebtedness~ as hereinbefore provided. Privilege ie reeerved to pr~pay at any time, ; ait.hout premium or fee, the entire indebtedness or any put thereof not leee t6an the xmount of one installment, or ? ane hundred dollara (i100.00), whichever is leas. ~ 2. In order more full~ to protect the security o[ this mort~a~e, the A~foriga~or, together w~ith, and in ~ ad~lition to, th~ monthl~- pa~ments under th~ tcrms of tLe note secured Lereb~•, on the first da~~ of ea~h month witil the said note is (ull~- paicl, H•ill pa~ to the tlortgagce, as truslce, (urider tl~e terms of this trust as }?erei~- allcr statcd) the folloNi~ig sunis: ~ (s) A sum equsl to the ground rents, if any, neat due, plus the premiums that ~vill next become due and payable ~ on policies of fire and other hazard insurance oovering the mortgaged property, plus taxes nnd assessments ~ next due on the mortgaged property (all es estimated by the Mortgagee and of which the Mortgagor is notified) lees all sums s?lready paid therefor divided by the number of months to elapse before one month # prior to the date when auch ground rents, premiuma, taxes, stnd seseesments will become delinquent•, ~ euch suma to be held by Mortgageeintnisttopsyeaidgroundrente,premiums,taxes, andspecialassessments. = (b) The aggregate of t6e amounts ps able pursaant to subparagraph (e) and thoee psyable on the note Pecured F hereby, shall be psid ia a~ing~e PsYmeat ench manth, to be applied W the following iteme in the order ; stated ti (I) Bround reats, taxes, asees~neate, fi~e, aud other ht?sard insumuce premiume; ~ (II) intereat on the note Aecured hereby; and = (III) amortisation of tbe principal of asid note. = Any deficiency in the amount of such aggregate monthly p4yment shall, unlesa made good by the Mort- ~agor pnor to the due date of the next such pe~ ment, constitute an event of de[ault under this mort,~a~e. At Mortgagee's option, Mort~agor will pay a"late charge" not exceeding four per centum (4°Jo) o[ an~ instail- ment w~hen paid more than fifteen (15) days after the due date thereof to oover the extra expense in~ olved in handling delinquent Payments, but such "late charge" shall not be payable out of the proc:eeds of any sale made to eatisfy the indebt~edness eecured hereby, unless such proceeds are sufficient Lo discharg+e the entire indebtedness and all proper coste ~nd expenses secured thereby. 3. If the total of tlie payments macle by• tl~e biortgagor under (a) o[ paragrapl~ 2 preceding sliell eaceed tl~e amount of pa~ ments actually made b~' t}'e Mortgagee, as trustee, tor ground rents, taxrs and asse~.5ments, and insurance pren?iums, ag tlie case ~nay be, auch excess ehall be credited on subsequent pe~ments to be rnade _ br the Mortgagor !or eucl? items or, at Mortgagee's option, as truatee, shall be re(unded w Mortgagor. If, however, dueh monthl3 pa~ments shall not be eufficient to pay euch itema ~vhen the eame ehall become due swd pa -able, tlien the Mortgagor 81?all pav to the Mortgagee, ag truatee, any amount necessary to make up - t~he d~cienet. Suth pa~-ment shall be made ~vithin thirty (30) dava sfter written notice trom the Mortgagec 'a sta~ing tbe amount of tt?o deficiency, which notice msy be given by ma~. If ati any tune the Mortgagor ahall s~ 237 ~I454 ~ ~ - - - _ ~ , 4 ~ - ~ _ _ - r ~ ~ . _