HomeMy WebLinkAbout0041 The 11ort~;e?gor hercby cuvenant8 with lhe I~~ortgx~;et?,~that he is indeles~ibl seued of said Is~d in fee
a~
sitn le ur such other eatato, J sny as is atsted hersin; tt~u~ he hua (uU power and Isw ul right to copv9v t,he aRme
ae ~aresaid; that the land ia free ~rom all encumbrences excapt ns herein o4herwiae recited; thaL xaid Mortga~or
will make euch turther aesurances to pr~vo the aforcaaid 4itle to said land in said Moitgagee us mey be reuson-
sblyrequi~ed, and tlut said I1lortgagor Joea hereby fully warranb the tiUe to said lsnd, and every put llie~oot, ~
und will defend the same agsinat t,he lawful claims oi ail perewus whoaisoever.
PaoviDSD A~w~YS thpt if the !~ioctgsgor aball pay unto We Mortgagee Wat cectain pmmisaory note~ oi
~vhich We following ia ~ aubstantial oopf~ to ~vit:
i 35,500.00 Fort PieraeFlorid~,
May 4 . 19 76 •
Fos VsLVS Rjccnvsn, the undersigaed promiee(a) to pay to
TH8 LOMAS S NETTLETON COMPANY
, s oorporation orgenised sad e~ristina under t6e
L~ve ot THE _ STATE OF CONNEGTIC[l~ or order; t6e principal sum of THIRTY ~ FINE THOUSAND FIVE
HUNDR~ AND NO/100 Dollare (i 35,500.00 ~?ith interest from dste st
the ra6e of EIGHT AND ONE. HALF per centum ( g~ ~Jo) per anuum oa the unpaid balance until paid.
The said principal and in~erest, ahatl be payable at che o~ce ot ~
The Lomae 6 Nettleton Company
175 Orange Street ~
~ New Haven Connecticut 06510 , or at such other plaoe aa the holder may desiqaste in ~vriting
delivered or mailed to the debtor, in monthly instaliments of ~p g~~ SEVENZR TFIItEE AND p~a _~he
(i 273.00 ~mmencing on the 6rst day of NLY , 19 76 ~ and ooatinuing n
6rst dsy oi each month thereafter until thia note is tully paid~ ezcept that, if not eooner psid, the finsl psyment
of principet and interest ahall be due snd psysble on the first de~y of , 2006 .
privilege ia reserve~ to prepey at any time, without premium or fee. the entire m ebtedneea or any part
thereot not less than the amouat of one in:taltmeat, or one hundred dollats (a100.00). whic6ever is lesa. Prepaymeat in full
s~ap be credited on the daLe received. Partial prepaymeat, other than oa an insta[Iment due date. need not be credited uatll
the npact tdlowina installment due date or thirty days after such prepayment~ whic6ever it earlier.
Ii any deScieucg in the payment of sny instailment under tLia note ia not made good prior to the due dste
of the next auch installment~ t,he entire principal sum and accrued interest ahall at onoe beoome due snd Fay
able without notice at the option o! the holder of thia note. Failure to exerc.ise thia option shall not oonat~tute
a waivar oi the right to ezemise the same in the event of sny subsequent defaul~ In the event oi defatilt in the
payment of this note, and if the ssme ie collected by an attorney st lsw, the underaigned hereby sgree(s) to ~
pay all costa of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date e~cecuted by the underaigned on oertain property described
therein and represents money actually used for the acquisition oi ssid property or tLe impmvemente Lhereoa.
Presentment, pmtest, and noticp, are hereby waived.
~s/ -Tho~ma~-ii Ya~ ~ e.y.,_...Ts.~- [SEAL]
t~l PLry~-Yal.~ ey [ss~.]
[s~]
- [s~.]
And shall duly, promptly, and fuUy perform, discharge, execute, eHect, complete, t~nd comply ~vith and abide
by each and ever~? the stipulatior?s~ sgreements, conditions, and eovenanta of said promisaory note and of this
mortgage, then th~a mortgage and the estate hereby created shaU cease and be null and void.
The Mortgagor further covenant~ as followa:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege ia reserved to prepay at any time,
' without premium or fee; the entire indebtedne~ or any part thereof not less than the amount of one instaWnent, or
i one hundred dollara (i10000)~ w~hichever ia 1esa.
i 2. In order rnore tull~ to protect th~ sec.urit;~- of t.his n?ortga~e, the ~iortga~c?r, togetlier with, and in
E addition to, the montl~l~- pa~•ments under th~ ter~ns oi thr notP securecl I~ereby, on th~ first cia~• of each month
~ until tl?e saicl note is fu~l~• paid, will pa~• to the vlort~a~e•e, e.s tru.gtec. (under th~ terms of this trust es herein-
4 after stated) tLe G~llowing swns: _
! (e) A sum equal to the ground rent9, if any, next due, plus the premiums thet will next become due and payable
s on poGcies of fire and other hazard insurance covering the mort~aged property, plus taxes and a4sessments
~ next due on the mortgaged property (all sa estimated bq the Mortgagee and of w6ich the Mortgagor is ~
4 notified) leae all eums already paid therefor divided by the number of months to elapee before one month
~ prior to the date ~vhen such ground renta, premiums, taxes, and as~essments will _become delinquent~
s such suma to be held b Mo eemtrustto eaid
~ y rtgag pay groundrents,premiums,taxes,andspecialassessments.
~ (b) The aggregate of the amounts ps able pursuant to subparagraph (a) and thosepayable on the note gecured
; h..~ewrebp, ahall be paid in a sing~e payment each month, to be applied to the following items in the order
f D{~8ted
` (I) ground rents~ taxes, ase~smenta, fire, t~ad ot6er bazard insurance premiuma; ~
; (II) intereet on the note eecured hereby; and ~
; (IIn amortiaation of the principal oi said note.
; Any deficiency in the amount of such aggre~ate mc?nthly psyment shall, unless made good by the Mort- i
f gagor pr~or to the due date of the next such ~syment, coaRtitute an event of defaulc under this mortgage.
: At Mortgagee's option, Mort,gagor will pa~ a" ate cl~arge" not excee~ing four per centum (4°Jo) ot any install-
~ ment ~:i~e~i ~e:~ more t6an Sfteen (15) dsys after the due date thereof to cover the extra expense involved in
' .handliag delinqueat pay ments, but such "late charge" shall not be payable out of the proceeds of any sale ~
i made to sstisfy the ~ndebtedness secured hereby, unless such pra:eeds are auH'icient to discharge the entire
indebtedness and sll proper costs and expensea secured thereby. 3
~ 3. If thP total of the pa~-~n~nts n~ad~ b~• the Mortga~or und~r {a) ot para~rapl? 2 precedinR shall exceed ~
` the amount of pa~•ment5 actunll~ ma~lr b~• t~ie ~'IortKa~e~~, as truste~, for Kroun~l r~nts, taxes and a~.gessments, ~
~ and insurance pr~miw~is, SS ~{IC CA.SP 1118\' b(`, such excesa shall tx~ credited on subsequent payments to be made
! bv ihe Mortga~;or for surh items or, ut Mortga~;eP's option, aa trusten, shall be refunded to Mortgegor. If, #
; however, sucl~ montlih p~~•ments shell not Ix~ suffir•iPnt to pa}• su~h iten~s when the same shall become due ;
and pa •able, then the ~1ott~a~or shall pn}• lo tli~ ;~tort~a~~~•, a.4 truste~, un}• amount necessary to mske up `
the.de~cienc~•. Such pacnient shnll b~ inade within thirt~ (:30) da~^~ after wTitten no4ice (rom the Mortgsgee
; atating the amount of the deficiency, which nof,ice may be given by msil. If at any time the Mortgagor s6a11
i Erf I F~ ~