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HomeMy WebLinkAbout0104 • , . t ! ` f f + The Mortgagur hereby coven~nts with the Mortgagee~, that he is indeteasibly seized oi said land in fee ~ simple or such other estatet ~i ~?ny os ia a~ted herein; that, he hae Iull power ~nd lawtul righ6 to ooovev the swma ; as atoresaid; t.6a~ the luid is iree ~rom all encumbrances except as herein other+vise recited; tLat asid~iortgagor i ~vill maka suc6 lurtber assurances to pmve the aforeeaid ~itl~ to said laad in said Mortgageo as msy be reason- ab~yreq uiced~ and that said Mortgagor doee hereby fully warranti the title to said land, and evary par6 t,hereoi, aad ~rill defend the same agai.os~ the lawtul c~aima oi all peraona whom.4oever. PaovtnaD AL~r~YS tLst it the ~1locfgsgor s6all p~y unto the Mortgagee f~hat ce~tain promiseory aote~ oi which the tollowing is ~ aubstantial ooPS, to wi~: : i 38,000.00 Fort Pierce , F7orida, ~ i - ~ .June 16 ~ 19 78 . ~ Foa Vni.vs Rscuvsn, t6e under~ned Promi~e(s) to WY to 'IHE IAMA.S $ NE'ITLEI~ON CQAIPANY, a 's' Connect~icut Gorporation, with principat place of business at 175~Orange Street, - ' New Haven, Connecticut ~ - ~ a oorporstioa oe~anised end e~dstin~ under the ! Iswe of the State of Connecticut, or order, tbe priacipsl eum ot 7HIR1Y-EI(~fT 71-IOUSAI~ and No/100- -------------------=--------=------------~ollars (i 38,000.00 with interest iram date~st the nte of Nine per centum ( 9%) P~' annum on the unpaid balanoe uaW p~d. s 1Le esid principal snd interesf~ etisll be payable at the office of 'j'}~e Lomas Nettleton CAmpany ~ ; ia New HaVen, CON1eCticut , or at such other plaoe ~?e the holder msy de~gnste in writing ~ delivered or mailed to .the debtor, in monthly instaUments of 'II-~E I-,[l~]DRED FIVE ~ 90/ 100- (i 305.90 commencing on the 6rst daq of - pugust , 19 78 , and oontinuing on the first d~y oi each month thereatter until this note is fully paid~ e~coept thst, if not eoonerpu d, tbe final payment of priacipul and interest shall be due and payable on the first dsy of July , 2008 • ~ privilege ia reserved to prepay st an~ time, witLout premium or fee. tbe entire indebtednese or any port ~ ' then.wf aot leas t6an the unount of oae installazeat, or one hundred doAars (=100.D0)~ wl~chever is lesa. Reepayment ia full ~ shaU be credited on the date receired. Partial peepayment, other thm oa an iaaWlmeat due date~ need not be credited until ` the next toqowing installmeat due d~ta or thirty days aitec such prepayment, whichever 4 eariier. If sny deficiency in the ps~n ent of sny inatallment under tbia note is not msde good prior to t6e due dste ~ of the nest such installment, the entire principal sum and accrued interest shall at once beo~me due snd Fsy- t able without notice st the option oi the holder of this note. Failure to eaerciae this option ahall not oonstatute ; a waiver oi t~he right t~o ezerciae We same in the event of eny subeequent default. In the event of default in the F psyn4ent of t6is note, snd if the asme is collected by an sttorney st law, the underaigned hereby agree(s) to pay all coste of collection~ including s ressonable sttorney's fee. { Thia note ia secured by mortgs~e of even date executed by the undersigned on oertain property described therein and represents money actuslly used for the acquisition of said pmperty or the improvements thereon. . Preeentment, protest. aad notice are hereby waived: ~ - e ~ Kenneth E . Ceburn _ _ 1s/ rlaureen Coburn _ And shall duly, promptly, and fully pedorm, discharge, execute, effect~ complete; and comply with and abide ~ bq each and every the stipulations, agreements, conditions, and covenants of said promiseory aote and of this ~ mortgage, then thia mortgage sud the estate hereby created sball eease sad be null and void. ~ The Mortgagor further covena~?ts aa fotlo~vs: ! 2. That he will psy the indebtedness, as hereinbefore provided. Privilege ia reserve~ to prepay at any time, _ ~ without preinium or fee. the mtire indebtedness or any part thereof not less than.t6e amount of one installment, or one hundred ddlus (5100.OQ), whichever is less. Prepayment in [uU sha0 be credited on the date received. Partiai 9 prPpa}rment, ot6er t6an on an installment due date, need not be credited unti! the next following instaliment due date or j thirty drys after such prepayment, whichever is eulier. ~ 2. In order ~nore fulh to protect tl?e securit~• ot this it~ortgage, the :1~ortga~?or, together with,~and in ~ addition to, the monthh• paymente under the terms of t}?e note secured }iereby, on the first da~• of each month until tl?e said notc is fu~lv paid, will pa~~ to ~he :VlortgagPe, as trustee, (under the tcrms o( this trust as herein- ~ a(ter stated) tLe tollowing swns: - - ~ ~ (s) A sum equal to the gmund renta, if any, next due, plus the premiums that will next become due and payable on policiea of fire and other hasard insurance covering t6e mortgaged pmperty, plus ta~ces and a~sessments ~ nezt due on the morigaged property (all sa eatimated by the Mortgagee and of which the Mortgagor is _ notised) leae a11 eums already p~d tlierefor divided by"the number'of months to ela~pee before one month ~ prior to tbe dste whea such ground rents, premiuins~ ta~ces, and aesessments +?ill beoome delinquent, ~ wch euma to be held by Mortgageeintruattop~?ysaidgmundrents,premiums,ta:ee,endapecialas~sments. ~ (b) T6e aggregt~te of t6e amounts payable purauant to subparagraph (a) and thoeepaysble oa the note Recured ; ~reby, shail be.paid in a~ngle P~Ymeat each mont6, to be spplied to the following items ie the order . ted ¢ (I) Bround renta, taues, aas~smenta, fin, and other hasard insurance premiums; (II) intereat on the note eecured hereby; sad = < ' (IIn smortisati~ of_the principal of aaid note. ° Any deficiency in the amount of such sggregate monthly ~symeat shall, unless made good by the Mor~ a.e ~ ~ gagor pr~or to the due date o[ the next such payment, const~tute an event of default under this mortgage. ' ; At Mortgagee's option, Mortgagor will pay a"late chsrge" not exceeding fow per centum (4~jo) ot any install- _ ~ ment whea paid more tban 6fteen (15) days atter the due date thereof to cover the eatrs expeose involved in ~ } handling delinquent psyments, but such "late charge" ahsll not be payable out of the proceeda of sny sale ~ ~ made to sstiafy the ~ndebtedness secured hereby, unlesa such proceeds are sufficient to d~scharge the entire ~ ~ indebtedness sad sil proper costs and expenses secured theceby. ~ 3. tf the total of the pa~-ments niaci~ b~ the Mortgugor under (a) of para{;ruph 2 precedinq shall exceed ~ ~ the amount of pavments actunllr mad~ br t~~e liorlKa~et, as trustec, for ground renta, tuaes and as.gessmenta~ - snd insursnce premiun?s, as tt~e case u~a~~be, such exceas shall be credited on subsequent payments to be mede ~ ~ by the MoKga~;or for such items or, at Mortgn~ee's option, as trustee, shall be refunded to Mortgagor. If, y however, such montl?Iv pa~ments shell not l,c suffi~•ient to ps~ such item$ ivhen ~he`same shall become due ~ and pay•able, then tl~e Mortga~or shull pa~ to th~ Mortga~ec, us trustee, anr a~i~ount necessary to make up ~ ~ E the deficienc}•. Sucl~ pa~-ment st~all be msule within thin~ (:30) da~s a(ter written notice from the Mortga~ee ~ ~ ~ stAtine thP arr:m,int of the deficiencp, which notice msy be given by ~nail. If at any time tbe Morcgagar ehxll ~ ~ ~ ~ x t"~'' z: . . , . ~~R.~~~~'~~.§~~a ,~~3. ~ . r ~ -~~.~'?"``~re ~ "a ~ ~R~ ~ , - ~r ~ . ` ~ ' ~r.-~," r 'L"' ~ ~ . . . .