Loading...
HomeMy WebLinkAbout1912 The Iliortgagor herebp covensnta with lhe ?liortgagee~ that he ia indeiea~iblx~ed of a1~id lsad in fee simple or auc6 ot6er estatet if eny sa ie stated herein; tLat he has f ull pow er and tawf right to couvev the ~nnme as ~fores~id; lhat I,he laud te iree from aU encumbruuces except sss herein ot,herwiae r~x:il,ed; t6at said~iortgagor ~vill meke such further asaursnces to prc~,vo the afores~id title ta said land i.n said I~lortgsgee us may be reason- ab~yrequired, and th~6 said Mortgagor does hcreby fully warrant the title to said land, and every psrt t}?ereot~ and will defend the same ageinat tha lswful claims oi all pereuns w6o~nsoever. " PROV~usu ALw~YS that ii the ~iortgsgor shsll pay unto We Mortgagee that certsin promiseory note~ oi which Ghe tollowic~ is s subatanLial oopf~ to wit: i 23,500.00 Fort Pierce . May 16 .1975 • FOR VALU~ R~CiIViD~ the undersigned promise(a) to pay to THfi LOMAS b NSTTLETON COI~ANY , a oorporatioa organised and e~ostins under the la~?e of THE STATB OF CONNSCTICUT• or order~ the principal sum of ~y ~ggE THOUSAND FIVE HUNDRED AND NO/I00 DoUara (i 23,500.00-- with interest from date st the rste oi Eight a~d one lp P~ oentum ~ 1 /2%) Per annum on the unpaid balance unW paid. 'The said principal aad interest ~iaA be payable at the oA'ice of The Lomas b Nettleton Coapany 175 Oraage Street ~ Net~t Haven, Connecticut Q6510 ~ or at such other pla~ as the 6older may desigaste in writing delivered or msiled to the debtor, in monthly instaUments oi p~ EIGHTY AND 71 / 100 DO~~ 1-80.71 commencing on the first dey of ,~,y , 1975 , and continuing on the ; Srat day oi eacL month thereafter until this note is fully paid~ ezcept that~ if not eooner paid, the final payment ; of princapal snd interest ahaU be due and payable on the firs6 day of ~~g ~ 2005 ; privilege ia reserved to prepay at any time, without premium or fee, the entire indebtedness or eny psrt ' thereof aot tess than the amount of one instaUme~t, or one huadred doUars (=100.00), whichever is less. Prepayment ia full shall be credited on the date received. Putial prepayment, other t6m oa aa installment due date, need aot be credited uatil t6e neut toUowing installment due tLte or thirty days a[ter such prPpayment, whichever is earlier. If sny deficiency in the pa~m en~ of any instellment under this note is not made good prior to the due date of the neut such installment, the entire principal sum and accrued interest shall at once become due and pay- ' able without notice at the option of We holder oi this note. Failure to eaercise this option shall not oonstatute ~ a waiver of the right to eaercise the same in the event of any subsequent defeult. In the event of default in the payment of this note, and ii the same ie collected by an attoraey at law, the undersigned hereby agres(8) to psy all eosts of collection~ including a reasonable attornsy's fee. t This note is aecured by mort~aRe of even date executed by the undersigned on oertain property described therein and representa money actually used for the acquisition of said proper6y or the impmvementa thereon. Preeentment, proteat. snd notice are hereby waived. [38AL] CHARLES EARL BARRON [ss~?LJ BOB$IE BARRON ~ - - [s~?L] - [s~] And shall duly, promptly, and fully pedorm~ discharge, execute, eSect, complete, and comply with sad 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 oovenaats as follows: - ' 1. That he will pay the indebtedness, sa 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 oae installment, or I one hundred dollars (i100.00), whichever is Iess. F 2. In urder roor~ full~• to protect th~ securit~- of this n?ort~;a~e, the.1•tortga~or, together with, and in ~ addition to, th~ monthl~• pa~•~nents under the tern?s of th~ note securnd h~~rebr, on the first cla}• of eacl? montii ~ until the suid t?ote is full~• paid, Nill pa~• to th~ ~1ortKa~~c~, s.s truste~, (und~r t~i~ t~r~ns of tliis trust as }?eeein- , after staled) tl?e (ulloHing sums: ~ (s) A sum equal to the ground renta, if any, next due, plus the premiuma t6at will next become due and payable ~ on policiea of 5re and other haaard insurance oovering the mortqaged property, plus tsaes and assessments next due on the mortgaged property (all as estimated by the Mortgagee and of ~vhich the Mortgagor is ~ noti6ed) less all sums already ps~d therefor divided by the number of months to elapee before one month ~ prior to the date when such ground rents, premiums, taxes, and as~essments will become delinquent, x such suma to be held by Mortgageeintrusttopaysaidgroundrents,premiums~ta~ces,andspecialas.sessments. ; (b) The aggregate of the amounts payuble pursuant to subparagraph (a) and those payable on the note secured ~ hereby, shsll be paid in a single payment each month, to be applied to the following items in the order ~ atated ~ (I) ground rents, taxes, assessments, 5re, and other hazard insurance premiums; (II) interest on the note secured hereby; and (III) amortisation of the principsl of said note. ~ Any deficiencq in the amount of such ag~re~ate monthly payment shall, unless made good by the Mort- ; gagor pr~or to the due date of the next such Pa~ ment, constitute an event of detault under this mortgage. ; ~ At 11Sortgagee's option, Mort~agor will pay a"late cl~arge" not exceeding fow per centum (4°Jo) of any install- ~ ment when gaid more than fi'fteen (15) days after the due dete thereof to cover the eatra expense involved in * handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale ` made to satisiy the mdebtedness secured hereby, wiless such proceeds are sufficient to discharge the entire ~ indebtedness and all proper cosls and expenses secured thereby. ~ ~ 3. If the total of the pa~-i~~~nts ma~i~ hi~- th~ ~1ort~u~;or un~l~r (u) of pnragrnph 2 precedin~ shall exceed ~ fi~ IIIP 81110ll01 O~ p8\'IpPil(S RCIUtIII~' IIIAIIP F)~' ~lu• ~1ort~;n~;ee, as truste~, for ~roun~i rtmts, tuxes and asses.aments, ; and insurance pr~niiwns, as th~ case mu~ ~bc~, such excess shall t~e credite~l on sutneyu~nt pa}•ments to be made ~ b~ the Ltort gagor for su~h iten~s or, ut ~'(ortguge~'s option, ag truste~, shall be refunded to :1+fortgagor. If, ~ how~ver, sucli u~onthh• pa~•ments shall not Ix~ suffiri~nt to pa~- su~h item~ when the same shall become due ~ and pu~•able, then Uic :~~ortga~or sha11 pa}• to thc ~tort~n~?f~~•, as trustc~, uo~- an~ount necessarv to make up the de ciener. Suc1e pa~•m~nt shal) tx~ ma~1e within tl?irt}- (:i0) da}^s ufter w-ritten notice (rom the Mortgagee stating the smount ot the deficienc~, which notice may be gi~en by mail. If at any time the l~iortgegor shall ~ ~ BDQK ~.eJ~ PAGf ~L ~c _ ~ . ~ ~ " ` . ~ ~__x _.~r__. . . _ ~ ~.>~.~~rz~.