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Home My WebLink About2923 I ~ ~ The Mort~agor hereby covensnt,a with the Mortga~;et~~ that he ie inde[eaaibly seized ot sei'~lend in !ee simplo or snch other eslat,es J any as ia stated herein; that he has tull power and lawiul right to ooovey t!?e same aa af~resaid; Lhat the land ts free from all encumbrancea except as 6erein otherwise recit,ed; tbat said Mortgsgor wiU make suc6 further assurancea to provo the aforeseid title to said laad in said Mortgagee as may be rens~on- sblyrequi~ed~ and that said Mortgagor Joes hereby tully wsrrant the title to said land, and every part W?e~oot~ and will defend the same egainst the lawiul claims of all persona whomsoever. Paovinsn ALw~Ya thst ii the ~iortgagor shall pay unto the Mortgagee tbet certsin promiaaory aote, oi which the followiug ia t subetanti~?l oops~ to wit: = 36,900.00 Fort Pierce ~ ~orida. April 18, ~ 19 75 ' FOR VALUB RECEIVSD~ the undersigned promise(e) to psy to THE LOMAS S NETTLETON COrQ'ANY ~ a corporatioa organir~ed and easting uader tde la~ve of THE STATE OF CONNECTICUT~ or order, the principal sum of THIRTY SIX THOUSAND NINE HUNDRED AND NO/ 100-------------- Dollars (i 36, 900 .00-- wich interest from date at the rate oi EIGHT per ceatum ( 8 ~J'o) per annum on the unpaid balance until paid. The eaid principal and interest ahall be payable at the o8'ice of The Lomas & Nettleton Company ~ 175 Orange Street _ ~ Ne~r Haven, Connecticut 06510 , or at such other ple~ee na the holder msy deaignate in writing delivered or mailed to the debtor, in monthly installments of TyJp gUNDRED SEVENTY AND 85/100 Dollare 270. 85 commencing ~n the first day of JUNE , 19 75 , and oontinuing on the firat dsp oi each month t6ereafter until thia note is fully paid, except that, if not eooner paid, the final payment of principal and interest shall be due and payeble on the firat day of HAY , 2005 Privilege ia reserved to prepay at any time, without premium or lee. the entire indebtedness or eny part thereof not less than the amount of oAe installment, or one hundred doUars (a100.00), whichever is less. Prepayment in full shall be credited on the date received. Putial prepayment~ other thaa on an installment due date, need not be credited i~ptil We next foUowing installment due date or thirty days a[ter such prepayment, w6ichever is eulier. If any deficiency ia the payment of any iostsllraent under th'is note is not made good prior to the due date • of the neat auch installment, the entire principsl sum and accrued interest ahall at once become due and ~sy- able without notice at the option of the holder of this note. Failure to exemase this option ahatl not oonatatute a waiver of the right to eaercise the same in the event of any sub~equent defsult. In the event of detault in the payme~t of this note, and if the same ia collected by an attorney at law, the undersigned hereby agree(s) to • pay all costa of collection, includiag a reasonsble attorney's fee. . This note ia secured by mortgage of even date executed by ~he underaigned on certain property described thesein snd represents money actually used for the acquisition oi said property or tho improvemente thereon. Preaenlment, protest, and noticP are 6ereby waived. f i ~ ~ ~ /r~~ . RONALD ALBERT CLEVE f `i_!..: ti.t~ r,_~ ~L~: ~ ~SEAL) ru~xTt~ sAR~iH vEr~xn . - [s~u.l - (s~r?L~ And shall duly~ promptly, and lully perform, discharge, execute, eNect, complete, and comply with and abide by each and every the stipulations, agreements, 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 Mortgagor further covenants as follows: ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, ! aithout premium or fee, the entire indebtedness or any part thereof not less than the amount of one instatlment, or one hundred dollara (i100.00), whichever is less. 2. !n order morn full}~ to prot~rt th~~ securit~• of this niort~a~~, th~ Liort~;a~or, togMl~er with, anc! in ' aclc{ition to, the monihl~• pa~•n~ents under th~ ter~ns of tl~e• not~ s~c•ured h~~reb~-, on the~ fit~t da~• of each montl? G until t)?c suid not~ is fullt• puicl, will pa}• t~? the ~lortgu~~~~, as trustee, (und~r th~ tern?s of tLis trust as herein- ~ after stated) the fullowing suu~s_ (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable ~ on policiea of fire and ot6er hazard insurance covering the mortqaged property, plus taxes and asse.ssments nea~t due on the mortgaged property (all as estimated by the Mortgagee and oi which the Mortgagor is ~ notified) 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 as.~essments will become delinquent, ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,aadspecialassessments. ' (b) The aggregat,e of the amounts payable pursuant to subparagraph (a) and th~e payabte on the note secured ' h~1e8reby, s6a11 be paid in a single payment each month, to be applied to the following items in the order ted ~ F (I) ground rents~ taxes, assessments, fire, and other hazard insurance premiume; (II) interest on the note secured hereby; and (III) amortization of the principal of said note. ; Any deficiency in the amount of such ag~re~ate monthly payment ~hall, unless made good by the Mort- ° gagor pr~or to the due date of the next surh pay ment, constitute an event ot default under this mortgage. ` At Mortgagee's option, Mortgagor will pay a"late cl~arge" n~t exceeding four per centum (4%) of any instap- ' ment when paid more than fifteen (15) da~s efter the due date thereof to cover the extra expense in~olved in ~ ; handling delinquent payments, but such "late charge" shsll not be payable out of the proceeds of any sale msde to satisty the mdebt,edness secured hereby, unless such proceeds are sufficient to discharge the entire ~ indebtedness and all proper c.osts and expenses secured thereby. ; 3. 1f th~ total of the pa~•ments nin~i~• h~- th~ ~tort~agor un~l~r (n) of para~raph 2 precedin~ shall exceed the amount of pa~-~nents actuall~- rna~l~ b~• tli~~ ~1ort~;uKe~~, as truste~, for ~?round r~~nts, tnxes and asses.cments, an~1 insuranc~~r~niiwns, as thc• c•ase n~a~•~bF, su~h excess shall be cre~lit~ct on sul?seyuent pa~•ments to be made } b~• the Mortga~;or !or su~h ite~ns or, at :~tortgnRee's option, a.g trustee, shall be rnfunded to Mortgagor. 1f, : ~ however, sucti n?onti?I~• pn~•mrnts sholl not tx~ suffi~•i~nt to pa~• su~h ite~ns when the same shalt become due ' ~ and pu~•able, then tlic ~1ortKa~or ch~l) ~~n~~ to th~ `tort~n~?~e, ns trustee, an~ amounl necessarv to meke up ' ; the de~icienc~'. Su~h pa~•ment shaU b~ nia~le Hithin thirt~• (:~0) da~•s after written notice (rom t.}~e Morigagee ' 5 stating the amount of the deficienc3, wl~ich notice may be givPn by mail. If at any time the Mortgagor ehall ; ~ BOOK~.JO PAGE~J16 - ; . _ ~ ~ ~ ~ . ~ : ; „ ~ .w s k_ }Y ~ ~ .