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'fLe Mortgagor hersb~ covenants with the Mortgagee?~ tha~ he is indeteaaiblJ seired ot caid land in !es i
~imple or such otbec estat~es J sqy as is stated hsrsia; tha~ he has tull power and l~wiul right to oo4vev the same
ss aforesaid; t~hat the land ~s iree ~rom atl encumbnwca exoept as 6ereia otherwiss recitad; that sud~btortgagor
will make sucb furtber assucsnoes to pro~e the aforeeai~ title t~o said laad in sai~t Mortg~ges as ma~ be re~+eoa-
~y e
~b requi~ed, and thu~ s~id Mostgagoe does hereby i ~vursat~ the uUe to satd laad, aad ever~ part thereot,
aad wiU detend the same ~g+ina~ the lsrviul olaims oi penoas wbomsosver. .
PROYIDiD ALNAYd ~liL It tLA ~~QTf$~gOr ~iU py IlIILO 1~IA MOl~11g00 v?iE OOtNIII w'Om1ls019 IIOf~A~ O~ ~
wLich tbs tollowi.og is s substantial ooPy~ t~o witi:
i_ 39 , S00 . 00 Fort Pierce , Pio~id~.
Nov~ember 10 = . i~ 77.
Foa v.LVS R~csn?sn, t6s unden~?ed promise(s) ta psr to 'il~ LdNAS $ t~'iTLEPON Oq~ANY, a
Connecticut Corporation with principal place of business at 175 Orange Street, ~
New Naven, Connecticut 06510
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~ s oorporation or~anised and eaostic~ ~nder ths ;
bws at Connecticut . or o~der, tbe principal aum ot 'Ihirty-Nine 'Thousand Fiv~e Ifimdred
and. No/100- - - - - - - - - - - - - - - - - - - - - - - - - - -no~~ars 39, 500.00 wit~h interest rrom date at
t6e rste ot Eight and One-Half per ceatum ( 8. S 96) P~ annum an the anp~id b~lanoo uatil p~id.
Tbe ssid priacipal and intec~est shaU be paysble st the oBioe ot 'IHE L~.S ~ N~ O~~ANY
~ New Naven, Connecticut , or at suc6 other plaoe as We Ldder map dee~nste in wdtins .
ddivered or mailed to the debtor, in monthly installmeats ot '1l~ree Htmdred 'lhree $ 76/ 100- Dd4rs i
(i 303. 76 oommenc;ng on tt,e 5est day of January . 19 78 , and oontinuiag oa t6e '
first day oi each month tLereatter ~?nW tLia note is fully paid, ezcspt tLst, it not aoon~er paid, the finalp ~ymeat ;
oi princ~psl and intereat shaU be due and psy~ble on the Srati day oi December . 2007 . ~
PriviMae ie reserved to prepsy ati any tiane, without premium or fee. the entire indebt~dnees or any part '
thereoi not las thm tAe anaunt oi one jnaallmeat, or oae huudred doUus (i100.00). ~r6khe~er b less. Prep~yment in tup
diall be credited oa the date n~cei~ed. A~tial PreWYmeut, other d~w oa an iastaUment due date. need not be credited natil
the ae~ct. idlowln~ installmeot due dde or tAitty dtys atter ~uch P~P~Y~ak w6ichrrer k atlier.
Ii sny de&ciency in tLe psyanent of say installment uader tLia note ia not made good prior to the due date !
of the next sucL- inst~allmen~, tha entire pdncipsl aum snd aecrued interee~ s6s11 at onoe beoome due and Fay- ~ i
able wit~out notice st the optioa of the holder o! t~his note. Fail~u+e to ezercise thia option ahaU not oonstatute
s waiver of the right to esercise the ssme in the event of aay subeequent defaul~. In tLe aven0 oi detault ia the ~
psyment of thia note, snd if the eame is collected by an attorne~ at law, the nndersigned hereby agree(a) to _ }
p~7 all oosts oi collectioa, including a reasonsble sttorne~'s fee. ~
Thia note is eecured by mortga~e of evea date executed by the nndaraigned on oertain propert~ described ~
therein and represents money actua.,w ~aed for the aoquiaitioa of ssid pmperty or t~he improvements Lhe:+ean.
Preeentment, proteet,, and notias are hereby ~~ived. ~
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- RAI~[-I D . McCI.AIN -
. I.ANA K. McCI.AIN
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' And al~all dulY. P~mP~Y, and fully perform, discharge, execute, eBect, complete~ and oomply with and abide '
' by each and every the stipulations, agreements~ conditions, aad covenanta -of eaid promiasory note aad d thia ~
~ mortgage, then thia mortgage and t~ estate he~+eby crested s6s11 aesee aad be null and void. ~
The Mortgagor further ooveoantg as foUowa: ~
E 1. That he will pay the indebtedness, se hereinbdore provided. Privilege is reeened to P~Y ~~Y ~
~ without premium or fee, the entire indPbtedneee or any pnrt theneo[ not less thaa the amount of one inatsllment, or ~
wie hundred dollus (;100.00), wh:cherer is IesS. Prepayment in fuU s6all be czedited on the date received. Partial
prepryment, other than on ~m installme~t due date, need not be credited until the next following installment due dste or ~
t6ity days after such Pi'eWYme~?t. rrhichev~er is eulier. :
2. In order rnore iull~ to protect the securit~ of this mortgage~ the ~tortgagor~ together with~~snd in ;
addition to, the m~nthl~ pa3 ~iiente under the terms of the not.e secured hereby, on the first da~ ot each month ;
until t;ie said note is fu~ly paid, will pav tc? the Mortgagee, a~ trustee, (under the terms o( this trust as herein- ~
atter stated) the following su~ns:
(s) A a~m equal to the ~ro~und reata, if any, ne:t due, plua tbe premiums i~hat will aext beoome due aad psysble_ ~
on policiee of fire sad other hasard inaurance ooverwg the mortga8~ P~P~Y. Plus taaes and aes~nenta
nert due on the mortgsged property (all ea estimated bq the Mortg~gee and of which ~he M ?
- notified) leffi all sums alread~r pud theidor divided by the number of montha toe1spee before on~~e
month ~
prior to the date whea euch ~^und reate, pnmiuma, taxes, sad asee~meata will become delinquent, ~
euch eums to be hdd bq Mortgageemtruattopayssidgroundr+eata,premiums,t~ea,andapecaalasaessmenta. ~
(b) T6e aggregste at the amounts ps able pu~uant to aubparagraph (a) and thoseps~
yable on the note eecureci ;
e6all be paid ia s~e Pi?3+meat each m~th, to be applied to the f~llowing itema in the order ~
(n ~und reats. ta~es, aee~m~te, fin. aad other hasard iaauranoe premiume;
~ (In iat~eeR on tbe note secured henby: aad
(I~ amortuatian ot t~he prisci~ of aaid note. oc ~
Any deficiency in the amount of such aggregate monthly psyment shall, unle,ss made good by tk,e Mort-
gagos pr~or W the due dste ot the next such psyment, constatute sn event oi detault under thia mortga~e~. ~
At Mortgagee`s option, Mort~ago r vvill psy s"lste charge" not exceeding four per centum (4%) of sny instsll-
ment vvhenpu
d more than fi[teen (15) days atter the du~ date thereof to oover the eactr,~ expense involved in ~
handling delinquent payments. but such "late charge" ahall not be payable out ot the proceeda oi any sale
made to satisfy the indebt~dness secured hereby, unless such proceeds are sufficient ~o d~echerge the entire $
indebtedneas sad all proper costs and expenses secured thenby.
3. 1f the lotal of the pa~~nents macie b?- the Mortgngor under (a) of para~rnpt~ 2 preceding ahall exceed ~
the amount of pavmcnts actuall~ macl:• 5v tf~e Mortga~ee, as trustec, for ground rents, taxes and sasesaments. N -
and insurance prnmiunu~, as the case ma~ ~be, such excess shall be crediteci on subBequent ~aymente to be made
by the Mortgagor for sucl~ ite~na or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If. ~
however, such n~ont}dy ps~ ments sl~all not Uc? suff'irient..to. p~n auch items when the ssme shall become due
and pa •sble~ then tlie Mor;gagor shnil pav to tl~c Mort~ts~ec, cs trustee, anr amount necessary to mske up
the de~ciencr. Such pa~-ment shall be mude within thirtv (30) da~B a(ter written notice from the Mortgagee •
etstinQ Lhe amo~znt of the de8ciency~ vrhich noace may be given by mail. If st aay t~ime the Mortgagor ebRll