The URL can be used to link to this page

Home My WebLink About0664 The Iliurtg~y;ut hPrcby cu~•enauls with lhe I~iort~;a~;uc~~ lhat, he is inJefca.~ibly seued ot said land in fce simple ur such oL1~er e.wtale, J eny aa is atsted herein; tliut hP h~ec h~ll poNer and lawful ri~;ht to couve~ thc swme ae aforex~iJ; ttiat t,he (and ie iree from all encumbruncPa t+xcRpt as Lerein otherwise recit,ecl; that said Alortgagoe wiU tuake such turther assurancea to provo f.6e Aforosuid title to said la~d iu said Mortgagee u~ msy be rn.xsoa- sblyrec~ uireci~ and that said l~ior?{~agor doea hereby fullp warrsat the title to said land~ and every part tliereui~ twd vrill defend ti~~ same agaic~.st tho lewful clsima of aU person9 wLomsoever, PROVIDSD ALWAYB Ltl8L 1~ tlle ~10~~8g0! S~l6II ~)A'~ ilAtO ~L9 MO11~8~66 ~9t Ce[~81A pl'OIII1880t~1 AOLO~ of wrbicL i.Le iuuuNiu~ ia s nuuauwawi wp~, iv v~ii: = 28,000.00 Fort Pierce , Florida. June 3 , 19 76. FOR VALUS RECB[VSD~ the undere~igned prumiye(s) to pay to . TNR LOMAS 6 NETTLETON COMPANY ~ A cc~r~c~ration organis~xl e?~die.aa~ting undcsr the law~s ofthe State of Connecticut ~ or order~ the principal sum of ~ EIGHT THOUSAND _________________________________~d no/1D0llars (i 28,000.00 with interest trom date at the rate ot EIGHT ~ ONE NAI.F per ceatum ( 8'~ Per annum on the unpaid balance until paid. The said principal and interest ahall be payable at the office of The Lomas bc iiettleton Couipany P. O. Box 964 - Virginia Beach, in Virginia 23451 ~ or at such other p1acE sa the holder may deaignate in writing deliveced or mailed tu the debtor, in monthly installrnenta of ~p ~NpRED FIFTEEN b~32/100=----DollarB 215.32 cummencing on the first day of August ~ 19 76 , and oontinuing on the firat day of each month t6ereafter until this note is fully paid~ eacept that~ if not aooner paid~ the fin ~ ayment oi principal and interest shall be due and papable on t6e first day oi July ~ 2~ 6p , Privilege is reserved b prepay at any time~ without premium or fee, the entire indebtedness or any par6 thereot aot less than the unount of one instalimeat, or one huodred dollars (a100.00), whichever is less. Prepayment in tutl shall be credited on the date received. Putial prepayment, other than on an instaliment due date, need not be credited until the next [oUowing installment due date or thlrty days atter such prepayment, whichever is eulier. Ii any deficiency in t6e pay ment of any inst,~llment under thia note is not made good prior to the due date of t~he neat such instwllment, the entire princ?pal sum and accrued interest ahall at once became due and Fap- able withuut notice st the option of the holder of this note. Failure to exercise this option ahall not oonstatute a waiver of the right Lo eaerc~se the seme in t6e event of any subsequent defeult. In the event oi default in the payment of this note, and if the sa:ne ia collected by an attorney at law, the undersigned hereby agree(s) to psy all costa oi collection~ including s reasonable attornEy's fee. This note ia secured by mortgage of even date executed by the undersigned on certsin property described t,berein and represents money ectually used tor the acquisition of said pmperty or the impmvementa thereon. Presentment~ protest, and notice are 6ereby waived. ~ _-~s~-Ba~lprt- F ShPatc (3EAL] ROBERT E. SHEATS ~ _I~L_ N~x~-sheat~_ [s~?L7 NANCY D. S~''ATS " i - [~L) i i ~~L~ ~ And shall duly~ promptly, and fully perform~ discharge~ execute, ePfect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of thia mortgage, then this mortgage and the estate hereby created shall cease and be null and void. The Mottgagor further covenants as follows: 1. That he will pay fhe indebtedness, as hereinbefore provided. Privilege is teserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred dollars (i100.00)~ whichever is less. 2. In urder u~or~• full~- to proic~~•t th~• s~•~•urit~- of this n~ort~;a~~•, th~• \tort~;e~or, tog~th~r with, and in additiun ~o, th~ monthl~- pa~•nu•nts und~•r th~ t~~nns ~f th~• not~• s~ivred h~~r~i?r. on th~• fint cls~- of ~a~h mont}? uT?til tL~• sui~l not~ is full~- pui~l, w'ill pu~- to thc~ ~tort~?n~~re~, as trust~~. (un~l~r t;u~ ~~~,~~s ~r ~j~~s tru~t as }?cr~in- Rftc~r stat.~d) th~~ fullo~sin~; swns: (a) A aum equ81 to the ground rents, if any, next due~ plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the mortRaged property, plus taxes and assagsments next due on the mortgaged property (all as estimated by the 4tortgagee and of which the hiortgagor is noti6ed) les$ sU sums already paid therefor divided by the number of months to etapse before one month prior to the date when such ground rents, premiums, taxes, and as.gessments will become delinquent, such sums to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taues~andspecialassessments. (b) The aggregate of t6e amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, shall be paid in a single payment each month, to be applied to the following items in the order stated: (I) ground rents, taxes, assessmenta, fire, and other hazard insurance premiums; (II) interest on the note secured hereby; and (III) amortization of the principal of said note. Any deficiency in the amount of such a~~re~ate month!} payment shall, unless made ~ood by the Mort- ga~;or prjor to the due date of the next sucL pa~•ment, constitute an event of default under this mortgage. At 1~Zort,gagee's option~ Mortvagor will pa~~ a"late charge" not eaceeding (our per centum (4%) of any install- ment when paid more than 6rtteen (15) days a(ter the due date thereof to cover the extra expense involved in handling delinquent ~avments, but such "late char~e" shall not be payable out ot the prceeeds of any sale msde Lo satisf~ the ~n~ebtednes.s sccured hereby, unles.g such proceeds are sufficient to d~scharge the entire indebtedness and sll proper costs and expenses secured thereby. 3. (f tli~ total of th~~ pa~-~~it~nt. i~ia~li~ h~• tli~ ~1ort~n~;or unil~•r {a} ~?f pnra~?rupl? 2 pr~c•edin~ sLall exceed thP aniount ~f pa~-iiic~ut. e~tuull~- n~e~lr t?~- tlir ~torl~;nk~~~, ac tn~ctr~•, f~~r ~;rrnin~l rt~ntc. tnxc~c and asses.crnents, an~1 insuran~e pn•~niunis, as th~• ~~a~~• iua~-~b~, such excF~ c~?all b~ ~r~dit~~l on sutn~~qu~~:t pa~•rnents fo be made b~- the ~1ort~x~ar for sw•li it~ms or, nt~ ~TortKn~?~~'s option, s~s truste~~, siiall be r~funded to t~(ort~agor. If, how~ver, su~•f~ niontl~l~• pa~•n~~nts tihell n~~t t?r ~ufii~•i~nt t.? pa~- curh it~ni~ v?•h~n thP same shall Lecome due and pa~•able, tli~n tlu~ ~fort~;u~;or.shull pn~• to th~• ~t~rt~;a~~~~~, as trust~~~, nn~- aniount necessar~~ to make up the de~icienc~-. S~c•1? pa~•~n~~nt shnll t?~ ~na~i~~ K•ithin tl?irt}- (:t0) du~•a utter w-ritten notice from the Mortgagee atating the amount of the deficienc~, wl~ich notice may be gi~en by mail. If at any time the biortgagor shall rf ~53 t~ W~ ! • t ~ ~ . ~ . ~ ~ ~.s~~ s~~ - -i . - z` ~ . . . s.~,~`"~~xr'' ;~~'~.tr~ ~