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Home My WebLink About0660 The Mori~~;ur hereby covenanta with the I11ort~;a~;~r; tl~At he ia indefeasibly st+ized o[ said land in fee simple or such other eatat,et J any ss is atat,ed herein; tha~ he has tull power end tawtul righ~ to ooovev f.he sama as af~tesaid; 6hat thc+ land ia iree ~ram ell encumbrauces exc;ept as hereiw otherwise recited; that aaid~iort~agor ~viU mske auch turt,her assurances b prova fhe aloreaaici ti~le to said lend ia said Mortgagee us msy be reRSOn- ablyreq uired~ and that said Mortgagoc doos hereby fuUy warran~ the tiWe to said larid~ aad evary part t}~ereot~ aad arill defend the same agAiast the lawful cl~ims oi all pereona whomsoeve:. Paov:DS~ AL~r~Ye t~st if the ?~iortgagor aliall p~?y unto the Morigagee t6at ceMsin promissory note, oi which the following ia ~ subatantial copf, to ~vi6: = 30,000.00 Fort. Pierce , Florida. March 19,.1976 • Foa V~.us Recuvsn, the undersigned promiee(a) to pey io THE LOliAS 6 NETTI.BTON COI~ANY . s oorporation organised and e~dsting under the ' b~va ot THE STATE OF CONNECTICU~ or order~ the principal sum of THIRTY T1i0USAND AND NO/ 100 30,000.00 with interest from date at the rate of Sight aad three qusrter~er centum (8 3/4°Jo) per annum on the unpaid balance until paid. Tbe said principal ~?nd interest shall be payable at the o~ce of The Lomas b Nettleton Company ; 175 Oraage Street ' ~ Net~ Haven: Connecticut Q6510 ~ or at such oth~ plaae as t6e holder may designate in writing ~ delivered or mailed to the debtor, in mc~nthly instaliments oE ~IgTy SIX AND 10/lODoliara ~ 236.10 com:nencing on the SrBt day of ~y , 19 76 , and oontinuing on the ~ first dep oi ee?ch month thereafter until thia note is fullq paid, eacept that, if not sooner psid, the final payment ~ of principal and u~terest shall be due and payable on the firat day of ~pg~, , 2006 . ~ Privileg~e is reserved to prepay st sny time, without premium or fee. the entire indebtednees or any psrt ~ tdetrof not less thu? the aa~ouat of one installmeat, or one huadred doDars ($100.00), vrhichever is less. Pcepayment iu full ~ st~aU be credited on the date received. Partial prepayment, oWer tt~an oa m installmeat due date~ need aot be ecedited unti! . a the next followipg installment due date or thirty days alter such prepayment, whic6ever is eulier. ~ Ii any deficiency in the payment of any installment under thia note is not msde good prior to the due dete ~ of the next such installment, Lhe entire pruicipal sum and accrued intereat sLall at once beoome due and pay- ~ sble without notice st the option of the holder oi~this note. Failure to euercise thia option shall not oonstitute ~ s waiver of the right Lo ezemase the same in the event of any subsequent defsult. In We event of default in the psyment of thia note, and ii the same ie collecteci by an sttorney at lsw, the undersigned hereby agree(s) to ~ psy all coste of collection, including a reasonsble attorney's fee. ; This note is secured by mort~a~e of even date executed by the underaigned on certaia pmperty described f tt?erein and repr~ents money actiua7ly used for the acquisition of said pmperty or the improvomente thereon. ~ Preeentmenl., proteef,. and noticrs sre hereby waived. $RIC ERSON MJRPflY [~?L] 3 _ [38AL] ~y v. rn~x~r [sg~+L) And shsll duly, promptly~ and fully pedorm, discharge, execute, eQect~ complete, and camply with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of said promiasory note and of thia morlgage, then this mortgage and the estate hereby created shall c~ea~e and be null and void. ~ The Mortgagor further covenants as follows: ~ l. Thst he will pay the indebtedness, as hereinbefore provided. .Privilege ia reserved to prepay at aay time, ; i without premium or fee, the entirE indebtedness or any part thereof not less than the amount d one installment, or ; one hundred dollara (i100.00), whichever is less. ~ 2. In orcler morn fulir to protect the sec~rit~- of this n~ortgage, the titortgagor, togethc~r with, and in ; ; addition to, the n~onthl~- parments under the tern~s of tLe note secured h~reb~•, on the first da~~ of each rnonlh 4 until tl~e said not~ is full}- puid, xill pn~• to the ~tort~n~~e, a.s trustee, (under the tern?s of this trust as herein- ~ ~ a[ter statecl) the follo~ing sunis: . i (s) A sum equal to the ground rents, if any, next due~ plus the premiums t6at will next become due and payable ~ ~ on policiea of fire sad other hasard insurance oovering the mortgaged property, plus taaes and assessments ~ ~ next due o~n the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is - y notified) less all sums already paid therefor divided by the number of months to elapse before one month ~ prior to the date when such ground renta, premiums, taxes, and assessments will become delinquent, ~ such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,sadspecialass~smenta. ' (b) The aggregate of the amounts payable pursuant to subparagraph (s) and thoae payable on the note secured ; hereby, shsll be paid in a smgle payment each month, to be applied to the following items in the order ~ etated ~ (I) ground renta, ta~ces, assessmente, fire, and other hasard insurance premiums; ~ - (II) interest on the note ~ecured her~by; end ` (III}' amortisation of t6e principal of eaid note. ~ Any deficiency in the amount ot such aggregate monthly psyanent shall, unleas made good by the Mort- ~ E gagor pr~ar to the due date ot.the next such payment, const~tutrr. sn event o( default under this mortgage. ~ ` At Mortgagce's option, Mortg agor will pay a"'late ct~arge" not exceeding four per centum (4%) of any install- ~ ment when paid more then Sfteen (15) days after the due date thereof to cover the eatra expense involved in ~ ` handling delinquent Payments. but such "late charge" shsll not be payable out of the proceeds of any sale ~ made to satiafy the mdebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all praper costs and expenses secured thereby. 3. If tl~e tatal of th~ pa~-ments mu~l~ h~- thP !1lortga~or und~r {a) of pura~ruph 2 precedinR shall exceed ~ = tf~e amount of pa~•ments a~tuall~• ma~l~ b~• tl~e \1ortKaKec, as trustc~, for Kroun~l rents, taaes and as.gessments, ~ ~ and insurance pr~miunis, as the case ~na~~b~. such pxcess shall be credit~cl on sut~seyuent paYments to be tnade ; bv the ?~'[ortga~;or for su~h items or, ot ~lortgu~eP's option, x~ trustee, shsl) be refunded to Mortgsgor. Tf, = however, such montl~ly pa~-ments shall not Ix~ suffi~•ient to pa~- su~h itc?ns Khen the same shall become due and pa~•able, then tlie :~fortga~or sl~all pn~• to th~ ~1ort~n~~c•, as trustee, un}- amount necessary w make up ~ the de cienc~-. Such pa}-ment shall be~ n~a~le e•ithin thirt}- (:30) da~•s aftPr written notice Irom the Mortgagee ~ atsting the amount of the deficiency~ which notice may be given by msil. If at any time the Mortgsgor shell ~ ~rft ~a~,-~ ~ ~ P#CF l,~~! ~ - ~ ~ _ _ . _ •s - ~ - - ~ -