HomeMy WebLinkAbout0669 The Mortga~;ur 6ereby cuvenanta with lhe Iliort~ugue. lbat he is indeleasiLl • sei~d oi eaid lend in !ee
•
eimple or euch o~her aslatst J any aa ia etat~d t~ereiii; thu1, he hus tull power and law ul right to coovev tlie same
aa aforeaaid; Lhat the laud ia iree ~rom sU encumLr~nces excepL a.s Lerew ot,herrvise recit~l; that said~rlorc.gagor
~viU make such turther ossurancea to pcovo the aforeseid ti~lr W eaid les~d ia ssid Mortgsgee us may be reasc~n-
s61yrequi~ed~ and t6at said Mortgagor daes hereby fuUy warran6 the title to said land~ snd every part U~e~eot,
~ud will deiend the same egaiast~ the lawiul dsima oi aU persoas whomsoever.
Paoviuso ALw~Ye that if the Aiortgagor ahi?U pey unto the Mortgagee Wat certsin promiseory not.e, oi
which the follovriag is a subetaati~?1 oops, to ~rik
= 15,000.00 Fort Pierc~°n~
June 4 ~ 1~'6 •
Fos VwLUS Rscuvsn~ the undersigi~ed promiee(s) to puy to
THE LOMAS b N~.'TTLETON COHPANY
THE STATE OF CUNNECTICUT ~~~u'~ o~~~ ~d ~~6 ~er the
~w8 ~ ~ or order~ che principal sum oi FIFTEEN THOUSAND AND NO/100 ~
~1~ ~=15,OOO.QO with interest from date st
the r~?te of EIGHT AND ONE HAI.F P~ ~~~m ~ 8~ Per annum on t6e unpaid be~lance until paid.
The said principal and interest shall be payable at the oH'ice
The Lomas ~ Nettleton Company
1~5 Orange Street
~ New Haven Connecticut 06510 . or at such other plaoe as the holder may destignate in writing
delivered or maile~ to the debtor, in monthly installcnents of ONE HUNDRED FIFTEEN AND 35/100
~=115.35 commencing on the first day of AU~ST , 1976 ~ and oontinuing on the
firat dsy o! each month tbereafter until t,his note ia iullp paid~ eucept that, ii not aooner psid, the finsl payment
ot principal and interest shall be due ead psyable on the first day of JULY, 2Q06 . .
i
r~y'iugo ia n~erved i.o prepay si, any i~ime, wit6oufi, premium or fee, ihe entire indebtedneee or any psrt
thereot not leas Wan the unount o[ one inatallmeat, or oae hundred doUus (~1Q0.00). whichever is less. Prepayment in tuff
shatl be credited on the date received. Putid prepayment, other Wsn on tn instaltment due date, need not be credited until
We next fdlowing installment due date or thirty days after such ptepayment, whicDerer is eulier.
Ii any deficiency in tLe pay ment of any inst,allanent under tbie note is not made good prioc to tLe due date
of the next such installment~ the entire principnl sum snd accrued intereati shn11 at oace become due and pay-
able without notice at the optaon of the holder of tWs note. Failure to exercise this option shall not oonet~tute ;
s waiver of the right to exercise the same in the event oi anq subeequent default. In the event of defsult in the ;
psyment af this nots, and it the same ia co!lectsd by an at,torney st law, the undersigned hereby agree(s) to ;
psy all coste of collection, including a reasonsble ettorney's fee. 4
This note is aecured by mortgage of even date executed by t6e undersigne~ on oertain propertp described '
therein and represents money actually used for the acquisition of said property or the impmvemenfe Lhereon. j
Presentment, pmtest. and noticfs are 6ereby waived. .
" [s~?L~
THOMAS LEROY SANDS
~ GWENDOLYN WIGGINS SANDS ~'~?L~
- ~s~J
(s~?L7
And shall duly~ promptly, and fuily perform, d'~scharge, execute, eBect, complete, and camply with and abide
by each and every t6e siipulations, agreements, conditions, and covenants of said promissory note and of this
mortgage, t6en this mortgage and the estate hereby created shall cesse and be null and void.
The Mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is mserved to prepay at any time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one uistallment, or
one hundred dollars (i100.00)~ whichever ia less,
2. In order tnor~ full~• M prot~•~•t th~~ ~~•rurit~~ of thi.~ ~noriKa~:~, tLe ~lort~agor, lagether with, and in
addition to, th~ monthl~- pa}-n~rnts und~•r th~ t~rn~s ~f th~• not~ s~~•urcd h~•reb~', on thr first dar of ~a~h month
us~til tl?c said m~t~~ is fu{Iv ~?~?i~l, Wil{ pa~- in th~• tfortKu~;i~~•, as trust~~~, (und~~r thr t~~nns of t1i~s trust as }irrein-
aft~r state~l~ the f~~11oH~inK sun?s: ~
~ (a) A sum equal to the ground renta~ if any, next due, plus the premiums that wiU ne~ct beoome due aad payable '
~ on policies of 6re and other hszard insurance covering the mortqaged property, plus taaces and a.s.~essments
next due on the mortgaged property (sll as estimated by the biortgagee and of which the Mortgagor is
i notified) less all sums already paid therefor divided by the number ot months to elapee before one month
I prior to the date when such ground renta, premiuma~ taxes, and assesaments will Lecome delinquent,
~ such suma to be held by Mortgageeintruattopaysaidgroundrents,premiums,taues,andspecialassessments.
~ ~ (b) The aggregate of the amounts paynble pursuant to subparagraph (a) and thoee payable on the note secured
j h~eireb~y, shall be paid in a Bingle paymeat each month, to be applied to the following items in the order
i •
(I) ground rents, tazes, asgessmente, fire, and other 6asard insurance premium$;
(II) interest on the note aecured hereby; and
' (IIn a.mortiaation of the principal of said note.
, Any deficiency in tfie nmount of such a~re~ate monthlv payment shall, unless made good by the riort-
' gagor prior to the due date ot the next suct? pa} ment, const~tute an e~ ent of defauit under this morigage.
At ~iortgagee's option, Mortoegor will pa~ a"late cLarge" not exceeding fow per centum (4%) of any install-
ment when paid more than fitteen (15) da~s after the due date thereof to cover the extra expense involved in
handling dclinquent ~?ay ments, but such "late charge" shnll not be payable out ot the proceeds of any sale
msde to satisfy the mdebtedness sccured hereby, unless such proceeds are sufficient to d~scharge the entire
j indebtednesa and all proper costs and expenses secured Lhereby.
! 3. If the total o~ tli~ pa~-in~nts ~un~l~• h~' thc~ ~1orlKa~or un~lrr (e) ~~f pnra~ruph 2 pr~cedinR shall exceed
t1~e amount of pa~'inents a~tuall~- n~a~l~ h~' tlu• \tortku~~~~•, us trustc~, f~?r ~;roun~l rents, tnxes end as.4essments,
and insuranc~e prc~n~i~sns, a.g tl+~~ i•a.ge me~~t~, surh Pxcess sl~aU tx~ ~re~iitc~t ur? su~~s~yu~nt pa~•ments to be made
b~- the Nortga~or for su~li it~n~s or, ut :~tortKn~~e's option, ns truste~~, s}?all tr~ r~funded to :lrtortgegor. If, ~
~ however, such ~nonthl~• pn}-m~nts 5hell n~t 1?c~ SufTi~•i~nt t~ par surh it~~~ns wh~n thc same shall become due ~
' and pavable, then the :~1ortKa~or ~hnil p~~~• t~ th~~ ~tort~;o~;~~•. as truste~, an~- aiuouut necessar~ to meke up
' the de~i~ienc~•. 4uch pa~•ni~nt sl~all b~ n?act~• Nitt?in tl?irt~ (:i0) da~9 af~~r written notice iroin the Mortgagee
' ateting the amount of the deficienc~, which notic~ map be given by mail_ 1[ et any time the Mor or shall
~ ~ FALE
,
~ j ~ :
" r~.~ „ ~ ~
~ ~
r~~- - ~
d . `
~ Y-~'`' ~ -