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TLe Mortgagor Lereb~ oovea~nta with the Mortgagee, thsL he is indefessibb eeir,ed oi said Lnd in fee '
aimple or such otLer estatei ~i ~qy as is stated herein; t6at he haa tull power and Lwful.right tio ounvao the snme
as ~tores~id; t~h~t the laad ~s iree ~rom all eacumbrsnces e~coept as herein otherwise recited; t6at said~iortgagor
aill make such furtLer assuranoes to prove t~be doe+es~id title to said land in said Mortg~gee aa m~y be resson- `
ab~yrequired~ snd tbsti said Mortgagor does hereby f~ ~rurant the utle to eaid lsnd, and every part t~hereot~ ;
aad will defend tha same againat the la~?ful cLims oi pereons w6omaoever. L
PROVIDED ALwsTS th~t if the Mortgagor eLall p,y unLo tbe Mortgageie thsti oert~ia pmmiseury note~ oi ~
~vhich the following is a subetanLial ooPy~ to wi~: ~
=25,ppp.pp . Fort Pierce , 3
Septesber 13 ~ 19 75 • ?
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Foa Vru.vs Rscscvsn~ tbe underaogned promiee(s) to p~y Lo
THB LONAS ~ NETTI.STON C0~4'ANY .
, s oorporation orgaai:ed and e~ristin6 uader t6e
lawa of THB STATB OF CONNECTICOT or order. the principal eum of TWBNIR FIVB THOUSAND AND NO/ 100 ~
~~__.aolls~s 25,000.00-- with interea~ from dste e?t ~
the rste af NINB • . P~ centum ( 9 P~ aanwm an t6e unpaid b~lance until paid. ~
The esid princip~l and intee~est ehall be payable at the o~oe of
The Lomae b Nettleton Cospany
175 Orange Street
~ Ner H~v~u Co~naof•i~.cqt 06510 ~ , or at sucb other plAOe ~s the hol~er. maY de~iSnute in writing
delivered or maile~ to the debtor~ in monthly instalim~te of Z~10 H[1NDRED ONS AND 25/100 ~ ;
201.25--- ~encing on the firet day of NOVElIDBR . 1975 , and eontinuina oa the r
6rat dsy oi esch month t6ereatter until tLia note is fullY Paid, ezoePt tLat, ii not sooner paid, tha final payment
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privi]eQe is reserved to prepay st any time, aithout prsmium or fee the entare indebtednees or any pae~t
thereof aot~ thsn the amount of one inatallment, or one hundred dol~srs (E100.00), ~vhichever is lees.
•Ii sny deficiency in the payment of any inatallment under this note ia not made good prior to the due dste ;
of the neat auch inatsllment, the entire principal sum and accrued interest shall at once become due snd psy- ;
able wit,~out notice at the option of the Lolder of tbis note. Failure to eaercise thia option shall not oonat~tute ~
a waiver of the right to e=ercise the sa:ne in tLe event of sny subeequent detault. In the even6 of defsult in tha
psyment of thia note, and i.f the eama is oollect~ed by an sttorney a~ Lw, the undesaigned hereby agree(s) to ~
psy all costs of oollection, including a reasonable attorney's fee. '
This note is secured by mortgage of even date eaecuted bY the undereigned on certain pmperty deecribed ~ ;
thecein and represents money actually used for the aoquisition of said proper6y or the improvemente Lhereon. '
;
Preeentment, protest~ t?nd notice are hereby waived. '
[~l ~
PHILLIP JAQKTE I~iALAN
~ ' [s~r?L]
~
[~l ~
NANCY K~ MALAN
• [~l
~
; And shall dulj!, PromPtly, snd fnllq pedorm, discharge, execute, e$ect; complete, and comply tvith and sbide
~ by each and every Ebe sfipulatione, agreem~nte, oonditione, and oovenants of aaid promisaorq note sad of this
~ mo*tgage, them this mortg,age sad the eatste hereby crested ahal~ eeaee and bie null ~nd void.
I The Mactgagpr fuither covenanta sa #ollaws: . • : , - ~
l: That he will pe~y the indebtednea~, ~s bereinbefore provided. . Privile~e i~ ~served t~o PrepaY at. eny time, _
~ without premium or fee, the entire indebtednes4.or auy part thereof not lesa than the amount bf oue iustal~ment, or ~
~ one hundred dollais (i10q.04), whi~heyer i~ less. , _ . , , ~
2. In orcler n~ore fullylto protect the securify of this mortgage, the~ Mortgapor, together ~with; and in ~
~ addition to, the monthl~~'ps~ments under the terms of tl?e note secured hereby; on`t}?e first dAy of eact? inonth ;
until the said note is fullti paid, will pay to the Mortgagee, as trustee, (under the terms of this trust as herein- '
~ after stated) the follov~ing sums: ~
~ (a) A sum equal to the ~ound reats, if any, neact dne, plns t6e pr~miama that will nett become due and payable i
on policies of Sre-epd-ot6er haaard ineureuce coverwg ibe mortgaged propecty~ plus taxes and sssessments ~
~ neat_due on the mortg8ged property (all sa estimated by the Mortg~gee and of whic6 the Mortgagor ia ~
notified) less sU sums already paid therefo= divided bq the numlier of months to elapse before one month ~
~ prior to the date when such ground r~nts, premiums, tsxes, and assessments will become delinquent, ~
such eums to be held by Mort.~eemtrusctopaysaidgrounarents,premiums,taxes,andspecialassessments. ~
~ (b) The a~ate of the amounts payable pursusat to subparagraph (a) and those payable on the note secured
~ hereby~ shall be paid in s single payment each month~ to be applied to the following-items in the order
~ stated: ~
" (I) griwnd renta, taues, asseesmenta, fire, and other hasard insurauce premiuma; ~
~ (II) interest on the note ~cµred hereby; and
~ (III) amortisation of the principal of said note.
~ Any deSciencq in the amount of sucha~ega te monthly payment ahall, unless made good by the MorL-
gagor prior to the due date of the next such payment, constitute an event of default under this mortgage.
~ At Mortgagee's option, Mortgagor will pay a"late charge" not exceeding four per centum (4%) of sny install- ;
~ ment when paid more Lhan Sfteen (15~.c~ys efter thg due date thereof to ~over the extra expense involved in ~
handling delinquent pa ents, but su~~ "late chsrge" shall not be psyable out of t,he proceeds of any sale ~
~ made to satisfy the ~n ebtedness secured hereby, unless such proceEde are autf'icient t~ discharE;e the entire
~ iadebtedness and sll proper costs and expenses secured thereby. ` : ~
~ 3. Ii the total of the pa~•ments made b~• the Mortgegor under (s) of para~raph 2 preceding shall exceed ~
the amount of pa~-rnents actuall~• made b~ t~e Mortgag~e, as trustee, for ground rents, taxes and as.gessments, ~
and insurance premiums, as the case rne~•~be, such excess shall be credited on subsequent pa~-~nents to be mnde #
b}• the Mortgagor for such ite~ns or, at Mortgagee's option, as trustee, shatl be r~tunded to Mortgagor. If, ~
however, such montlily payments shall not be sufficient to pa~• such items when the same shall become due
and pa~able, thr.n the :~lortgagor shnll pa~ to the Mortgap,ee, as trustec, an~• amount necessar~ to make up
~ the de~icienc~•. Such parment s1~a11 be made within thirl~' (30) da}~s nftPr writt~n notice from the 114ortgagee
stating the amount of the deficiency, wi~ich not~ice may be given by mail. If at any tune the Mortgagor ahall
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