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HomeMy WebLinkAbout1843 The Mortga~;or heteby covenaat,s with tbe I~iortga~;et~~ thst he ia indefea.aibly seized oi said land in fee eimple or euch ot,her estatss d any ss is stated herei~; tuat he has tull power and lawiul riE;6t to coovev ~he seme ae sfareeaid; lhat the land ia free ~rom all encumbrances ~xcept ss herein otherwise recit,ed; lhat said hiortgagor will make such further assursncea to provo Lha atoresaid title to said land in said Mortgagee us may be rnason- ablyr~quiced~ and Lhat said Mortgagor does hereby fully warrant the title to said land, and every part L}~e~eof~ and will defend the same against the lawful claima of all persona whom.4oever. PROV~nsn ALw~Ye thet if the Aioctgagor shall pay unto the Mortgugee that u~ctain prou~;naory note, o; ~vhich the following is s aubstautial coPS~ to wit: = SS,000.00 Fort Pie~~e ' ~OR~' April 18,' 75' FOR VALUB RSCEIVSD~ the undecsigned promise(s) to pay to "THE LOMAS b NETTI.ETON COMPANY" , s oorporation organised aad e~risting under the lswa of THE STATE OF CONNECTICU'~ or order, the principal sum of FIFTY FIVE THOUSAND AND NO/100------------------- Dollare (i SS,000.00--- with interest !mm date at the rate of EIGBT per centum ( g ~Jo) per annum on the unpaid balance until paid. The said principal and interest shall be payable at the o@'ice oi The Lomas ~ Nettleton Company 175 Orange Street ~ New Haven, Connecticut 06510 , or at such other plaoe sa the holder may deaignate in writ:ng delivered or mailed to the debtor, in moathly installmenta of gOUR HUNDRED THREE AND 70/ 100 llollars (i 403.70 commencing on the first day of ,~E , 19 75 , aad oontinuing on the firat day oi each month thereafter until this note is fully paid~ except that~ if not sooner paid, the final payment of princapal and interest shall be due and payable on the first day of ~y , 2005 Privilege is reserved to prepay et any time~ without premium or fee, the entire indebtednesa or any part thereof not less than the amount oi one instaUment, or one 6undred dollars (a100.00)~ whichever is less. Prepayment in futl s6all be credited on t6e date received. Putial prepayment, other-t6m on an installment due date, need not be credited until the ne~ct [ollowing installment due date or thirty days after such prepayment, whichever is eulier. If any deficiency in the payment of any installment under this note is not made good prior. to the due dat,e of the next such installment, the entire principal sum and accrued intereat ahall at once beiwme due and ~ay- able without notice at the option o! the holder of this note. Failure to exercise this optibn shall not constatute s waiver of the right to exerc~se the same in the event oi any subeequent default. In the event of default in the payment of this note, and if the same ia collected by. an attorney at law, the undersigned hereby agree(s) to pay all coste of collection, including a reasonsble attorney's tee. This note is secured by mort,~a~e of even date executed by the undersigned on certain property described therein and represents money actually used for the acquisition of said proparty or the impmvements thereon. Presentment, proteat. and notice are hereby waived. [s~i.] FRANK JOSEPH DeTHOMAS [s~+L] LENA ROSE DeTHOMA5 [s~?L] ~ [s~L] ; And shall duly~ promptly, and fuUy perform, discharge, execute, effect, complete, and comply with and abide ! by each and every the stipulations~ agreements, conditions~ and covenants of said promissory note and of this f mortgage, then this mortgxge and tbe estate hereby created shall cease and be null and void. ~ The Mortgagor further covenants as follows: ; 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time~ without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installmeat, or one hundred dollars (=100.00), whichever ia less. - 2. In order n~or~ full~• to protc~t the securit~~ of this niort~;a~e, the LfortKaRor, togetLer K~ith, and in 8~i~i~~~on <<?, (~IP 1~1011~}II~' fTB~"IIIPI1t3 UIl(JPr the t~rms of the note s~~ure~i I?e~ret>~-, on the first da~• of ~ach inonth utitil iLe said not~ is full~• ps~id, will pu~~ to th~ ~tort~u~~~, as truste~, (un~l~r th~ t~rms of this trust as I~erein- after stated) the fullowing suins: (a) A sum equal to the ground rents, J any, next due, plus the premiums that will next become due and payable on policies of fire and other hasard insurance covering the mort~aged property, plus taxes and assessments ~ next due on the mortgaged property (sll ss estimateci by the Mortgagee and of which the Mortgagor is noti6ed) less all sums already pa~d therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes, and asse.ssments will become delinquent, ~ auch sums to be 6eld by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialas.sessments. ~ (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby~ shall be paid in a single payment each month, to be applied to the following items in the order ~ atated: . (I) ground rents, taxes, assessmenta, fire, and other haaard insurance premiums; ~ (II) interest on the note eecured hereby; and ~ , (III) amortization of the principal of said note. Any deficiency in the smount of such a~re~ate monthly payment shall, unless made good by the Mort- gagor prjor to the due date of the next such Pa~~ment, constitute an event of default under this mortgage. At Mortgagee's option, Mort~agor will pay a"late cl~arge" not exceeding fow per centum (4%) of any install- ment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent ~ayments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the ~ndebtedness secured hereby, uiiless such prceeeds are sufl5cient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. If the total of th~ pa~•~n~•nts nin~1~ h~- th~ :11ort~a~or und~r (a) of pnra~rupl~ 2 pre~edin~ shall exceed the aniount of pa}-ments a~tuall~- me~l~ h~• tlu• ~fort~nKee~, as truste~, for ~round rents, tnxes and a~sessments, and insuran~e pr~miwus, as th~ c~ase u~a~•~b~~, such excess shall b~ ~redit~~i on sul,seyuent pa~•ments to be made b~• the Mortgx~or for su~h items or, at 4lortgn~eP's option, as truste~, shall be refunded to :4fortgagor. If, however, such u?onthl~• pa~-m~nts shull not tx• suffi~•i~nt to pa~• su~h it~~ins when the same shall become due and pa~-able, then the ~Iort~agnr shall pn~• to th~ tiort~a~e~~, as truste~, un~• aniount necessar~~ to make up the de~icienc~•. Sucl? pa~-rnent sl~all b~ iua~IF w•ithin thirt~- (:t0) da~•s after writt~n notice from t~~e Mortgagee atating the amount of the deficienc~, wl~ich notice may be given b~R ail. If at any time the Mortgagor ehall ~ 80E1K ~?tx7 PAGE~B~ ~ ~ _ . ~ ~ ' , ; i~ . ~ ~~~x'~"-r~X 4~'~ ~ e-~~",~-~'~ . , . .t,..' - ' I : ~ _ .