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Home My WebLink About2863 The Mortgagor hereby covenanta with the Mortgagee~ thet he 3s indeteaRitiiy'setzed of said lead in fee aimple or such ot,her eetatet J eny aa is atated herein; that, he has tull power and lswful right to couvev t,he a~?me as alorosaid; lhat the lscid ia iree ~rom all encumbrancee except as herein otherwise recited; thst said~tortgagor will make such turl.her assurances to prove the aforesaid Wtle to said laad in said Mortgagee etis msp be rexson- ublyreq uired~ and ~hst ssid Mortgagor does hereby fully warrant the ti~le b said land~ and every part u?ereoi, and will detend the aame against t~he lawf ul claima of all pereona whomsoever. PROVIDSD ALWAYS t~l8t It ~IIE A10[~8g0~ BbPU ~1Ny llIIt,O L~ MOiL~Y~6A TLi~ CO~t81D pi'0[n11880I'3/ DO~~ oi wbicb Lhe following is a aubetwtial ooPf~ to wi~: = Fort PiS~ce ' ~"n~' 41,000.00 May 26; 75 ' Foa Vns.us Racuvsn, the undereigned pmmiae(e) to psy to TS8 IAMAS & NBTTI.ETON COMPANY . s oorporstioa organised snd e~oating under the 1i~v8 ~t THB STATS OF CONNECTICU'b or order~ the princ,ipal sum ot gpRTY ONB THOUSAND AND NO/ 100--_ ~ Dollare (i 41, 000.00-- with interest f~+om date st the nte of Bight ~ one half P~ oentum ( 8 1/~0) P~ aanum oa the unpaid balance unW paid. The said principal and interest ~hap be psyeble at tbe o~ce of The Lo~as ~ Nettleton Company 175 Orange Street ~ New HBVen, Connecticut 06510 , or at such other p1aoE as the holder may deeignate in writing delivered or mailed to t,he debtor, in monthly instaUments of THItEE HUNDRED FIPTBEN AND 29/100 ~11ars 315.29 commencing on the first day of ~,y , 19 75 , aud oontinuing on the firet dsy oi_each month thereafter until this note is fully paid, except thst, if not eooner paid, the final payment oi principal and interest sbaii ae due and payauie ou iae nrac uuy ui ~g , 2pp5 privileg~e is reserved to prepsy st sny time, wit6out premium or fee. the entire indebtednesa or any part thereof not tess than the unount of oae instaUmeat, or one bundred doUats (;100.00), whicdever is less. Repayment in full ahall be credited on tde date received. Partid prepayment, oWer thaa on an instaAmeat due date, aeed not be credited uatil the next idlowiag Installment due date or thlrty days a[ter such ptepayment, whichever is eulier. ' If any deficiency in the pa ment of sny installment under this note is not made good prior to t~e due date of the neat such installment, t~e entire principal sum aad accrued interest shall at once become due and pay- sble wiWout notice et the option oi the holder of this note. Failure to eaercise this option shall not oonatatute a waiver of the right to ea~ercise the same in the event of any subsequent default. In t6e event of default in the payment of thia note, snd if the ssma ie coUected by an attorney at lsw, the undersigned hereby agree(s) to pay all eoste of oollection~ including s reasonsble attornsy's fee. This nots ia secured by mortga~e of even date executed by the unders~gned on oertain property described therein and representa money actuslly use~i for the acquisition of esid property or the improvementa thereon. Presentment, proLest, snd not,icR ar~ ~ereby ~csired. " r ~ i ~ ~ ~ • _ ~s,'G--~=~ ~ ~ ~ ~ c S SHE ' ~ SHIRLEY F. HEELEY _ [SEAL] ~ [3EAL] i t And shall duly~ promptly, and fully perform, discharge, execute, eftect, complete, and comply with and abide ~ by each and every the stipulations, agreements, conditions~ and covenants of said promissory note and of thie ~ mortgage, tt?en this mortgage and the estate hereby created shall cease and be null aad void. The Mortgagor further covenants as follows: ~ 1. That he wiU pay the indebtedness, sa hec+einbefore provided. Privilege is reserved to prepay at aay time, ~ without premium or fee, the entire indebtedness or any part thereof not lesa tban the amount of one inatallment, or ~ one hundre~i dollars (i100.00), whichever is less. ~ 2. In urcler more full~ to protecf the secariti- of tLis mort~a~e, the 14ortga€?or, together with, anci in ~ addition to, the monthl~- pa}-uients uncl~r the terms of the note sec~ured ht~ret»-, on the first dar of each month until the saicl note is full~• paid, Kill pa~- to t1~e ~fort~u~c~c~, as tru.gte~, (un~ler tl?e tern?.4 of this trust as herein- ~ aRer stntecl) tlie following swns: (s) A sum equal to t6e ground renta, if any, next due~ plus the premiums that will next become due and payable ~ on policiea of fire and other hasard insurance oovering t6e mortgaged property, plus taues and agsessments ~ next due on the mortgaged property (all ss estimated by the Mortgagee and of which the Mortgagor is ~ noti6ed) less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes, and sssessments will tiec•,ome delinquent, ~ auch sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,amdspecialss.ses.smenta. ~ (b) The eggregate of t6e amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, ahall be paid in s single payment each month, to be applied to the following items ia the order ~ stated : _ (I) ground rents~ taxes, assessments, fire, and ot6er hasard insurance premiums; ~ (II) interest on the note secured hereby; and (III) amortisation of the principal of said note. ~ Anv deficiency in the amount of such aggre~ate monthly payment shall, unless made good by the Mort- ~ . , y: gagor prjor w the due date of the next such payment, constitute an event of default under this mortgage. ' ~ At Mortgagee's option, Iliortgagor will pay a"Iqte r,harge" not exceeding four per centum (4°Jo) of any install- ; ment when paid more than fifteen (15) days a(ter t6e due date thereof to cover the extrs expense involved in ~ hsndling delinquent payments, but such "late charge" shall not be payable out of tha proceeds of any se~e ~ msde to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to d~scharge the entire ~ indebtednesa and all proper costs and expenses secured thereby. ~ 3. Tf the total of the pa~-ments tnud~ bi~- the '~1ort~agor und~r (aj of pura~rnpii 2 precedinR shall exceed ~ tI1C 8I110UI1~ Of p8\'lllPil(F BCtUA~I\' IIIAlIP h~' ~lie :lfort~n#;c~, as trustec, for Kroun~l r~~nts, tuxes and essesaments, ~ and insurance prnniiums, as th~ ca.se ma~ ~bc~, such eacess shall tx• credit~d on subseyuent pa~ments to be made b~ the :~iortga~;or for su~h items or, at ~'(ortg~eP's option, ag truste~, shall be refunded to Mortgagor. If, ~ however, such n~ontl?1~ pa~•ments shall not tx~ suffiriPnt t~ par su~h iten~s when the saine shall become due ~ and pa~able, then thc :~tortga~or shu11 pn~• to th~ ?11ort~a~e~, as trustec, nn~ amount necessarv to make up ~ the de~icienc}•. Such pa~-ment shall bc~ n~a~fe within thirt~ (:i0) da~~a after written notice from the Mortgagee _ stating the eu?ount of the deficiency, which notice may be given by mail. Ii at any time the biortgagor shall ~ ~ gooK239 P~~2858 ~ ~ ~~~.~__-~.r. ~ ~ _ : _ _