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Home My WebLink About1920 's t ' ° . The Mortgagor hereby covenanta with the Mortgager~ thAt ~e is ihdefeazu ed ot said land in fee~ aimple or auch other eatate; J any as is stated ~erein; t68~ he haa f ull power and !a W rigb~ to ooooev the sAroe ~ •e aforoaaid; lhat ~he land ia iree ~mm ail eucumbrancea except sa heretn otherwise recited; that e~?id~iortgagor will make such further ~saursncee to provo the aforesaid title to eaid lend in said Mortgagee sa me?y be rcason- sb~yrequired~ and th~t said Mortgagor does hereby fully wi?rran6 the~ tiWe to said land, and every part t,l~ereot, and will defend the eame agains~ the lawful claima oi all pereons whomsoever. PaoviDSU AL~r~Ya thst it the biortgagor shsU pe?y unto tha Mortgwges that cert,sin pmmiseory note~ oi which the follovring is ~ substantiAl coPS, = Zg~ 5pp~ pp Fort Pierce , Fiorida, April 17 , 19 75 . . FOR VALU~ RsCS1VSD~ the underei~ed promiee(e) to psy Lo Tii$ IAMAS & N$'i'TLi~TON OOMPANY , s oorporation organi~d aud e~dstina under the la~rs of the state of Connecticut, or order, the principal sum of TW~ITY EIGHT TIi~USAND~ FIVE I~D~~ atld ri0/1~~~••~~~~~~~w••r~~r~~~~...~p]Jg[g (~8~ WlLtl ILffCC1~88t fLOIIl a8~6 8fr EIGI~ per centum ( 8%) per annum on the uapaid balance until paid. The esad principal and interest shall be payable at the o~ce of The I.amas & Nettleton Ca~par~}r - P. 0. Box 964 - Virginia Beach~ in Virginia 23451 , or at sucb ot6er p1acE as the holder may deaignate in writing delivered or mailed to the debtor, in monthly installment8 of Ti~liO HiINDRSD TTINE and ]-9~100--'- Dollare 20~~19 ---_),-c~nnmencing on the firat day of June , 19 75, and continuing on the firet dey oi each month thereafter until this note is fully paid, except that, if not sooner paid, the final psyment of princapal snd interest ahall be due and paysble on the first dey oi May, 2005. , • privilege is reserved to prepsy at any time, without premium or fee, the entire indebtednees or any psrt thereof aot less t6an the amount of oae instaUment, or oae hundred dallars (;100.00). whic6ever is less. Prepaymeat in tull shall be credited on the date rece[ved. Pariial prepayment, ott~er thaa oa m installinent due date, need aot be credited uatil : the ne~ct [dlowiag instaliment due date or thirty days atter sucb prepayment, whichever is earlier. If sny deficiency in the paym ent of any installment under this note is not made good prior to tLe due date ~ of the ne~ct such installment, the entire principal sum and accrued interest shall at once become due and ~ay- able without notice at the opWon of the holder oi this note. Failure to easrcise thia option ahall not constitute a waiver of the right to eaercise the eaane in the event of any subaequent defsult. In the event of deiault in the payment of thia note, and if the asme is collected by an sttorney at Isw, the undersigned hereby agree(8) to pay all costs of oollection, including s reasonable ettorney'a fee. This note ia eecured by mortgage of even date eaecuted by the underaigned on oertsin pmperty described tLerein and represents money actually used for the acquisition oi said property or tLe impmvemente thereon. Preaentment, proteat, and notic,~, are hereby waived. ~~,~y A11 Pn i~+nnert~~ J~___ [SEAL] ~~'~ILEY• AI.T.~T H~1NSrT, JR. - ---~-s,~ ~li-~b e~th B Nks Bennett [~L] BLIZAB~H BROOKS BSNNIsTT ` ; - [s~"~'] ; (s~r+L) ; ~ And shall duly, promptly, and fully pedorm, diseharge, execute, efiect, complete, and comply with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia ; ; mortgage, then thia mortgage and the estate hereby created shall cease and be null and void. ; i The Mortgagor further covenants as followa: . 1. That he will pay t6e indebtedness, as hereinbefore provided. Privilege is reserved to prepay at aay time, ' ~ without premium or fee, the entire indebtedneas or aay part thereof not less than the amount of one installment, or ~ k one hundred dollara (i100.00), whichever is less. . ~ 2. In orcler mor~ full~• to protect th~ securit.~- of thi.s n~ort~a~e, the :4fortga~or, logether with, and in : x addition to, the monthl~- pa}•n?ents under the tenns of tl~e note sec•urccl h~~reb~-, on the first da~• ot each month , until the said not~~ is full~~ pai~, Kill pn~• to the ~'Iort~u~ee, a.s trustee, (under th~ ierms of this trust as herein- - after stated) t1?e fullow°ing swns: (a) A aum equal to the ground rents, if any~ next due, plua the premiums that will next become due and payablP on policiea of fire and other hasard insurence oovering the mortgaged property, plus taxes and assessments ~ next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is ; ~ noti6ed) lese all sums already pa~d therefor divided by the number of months to elapee before one month ' prior to the dste when such ground rents, premiums~ taxes, and assessments will Lcxome delinquent, ' ~ auch suma to be held by Mortgageemtrusttopaysaidgroundrents,premiums,taxes,andspecialass~sments. ; ~ (b) The aggregate of the amounts psyuble pursaant to subparagraph (a) and thosepayable on the note secured ; ~ hereby, ahall be paid in g aingle payment each month, to be applied to the following items in the order ~ ~ stated ' ~ (I) ~ound rents, taxea, assessmenta, fire, and other hszard insurance premiums; ~ (II) intereat on the note ~ecured hereby; aad ~ (III) amortiaation of the principal of said note. ~ Any deficiency in the amount of such ap,gregate monthly payment shall, uniess made good by the Mort- gagor pr~or to the due date o( the next such peyment, constitute an event of default under this mortgage. At Mortgagee's option, Mortgagor will pay a"late charge" not exceeding four per centum (4°Ja) of any install- ~ ment when paid tnore than fifteen (15) days a(ter the due date thereof to cover the extra expense involved in ~ handling delinquent psyments, but such "late charge" shall not be payable out of the-proceeds of any sale ; made to satisfy the ~ndebtedness secured hereby, u~iless such proceeds are aufficient to discharge the entire indebtednesa and all proper costs and expenses secured thereby. ~ 3. 1f che totai vf the pa~-rnents mn~1~ b~• t!?e 111ort~u~or under (a) of paru~rapl~ 2 precedinq shall exceed ; ~ the amount o( pa}'111PII13 BPIUAII~" I11A(~P hY 1I~e 11ortKa~ee, as troste~, for ~roun~l rnnts, taxes and asses.gments, ~ and insurance preniiwns, as th~ case ma~~bc•, such excess ahall be credited on sui~seyuent payments to be made ~ ~ by the A'lortgx~or for su~h ite~ns or, at ~'[ortgngee's option, ag trustee, s}?all be refunded to Mortgagot. If, ~ however, such n~ontl~l~• pa~•ments sholl not tx~ suffi~~iPnt to pa}- su~h ite~ns when the same shall become due ~ and pu~~able, tlien tl?c :~iort~agor si~all pn~• to the ytort~agee, ag trustee, anr amount necessar~ to make up the de cienc}•. Such pa~•~nent sl~al) be ~uu~1e within thirt~ (30) de~~s a[ter written notice trom the Mortgagee atating the emount of the deficiency, which notice msy be given by mail. If at any time the l~iortgsgor shall ; ~ 6001~ ~.JO Mf f _ x~ ~"4C'+'.. y i SK n3s`'cc ~ ;s`•.~,~,~"""~° , ~ . t ?r~ ~'-.e. +~r..~~"' , A f _ .is:'. . . _