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Home My WebLink About0337 - } ! ! TDe Mortgagor hereby, covenants with the Mortgsgee~ t6at hs is indefeaAib~y sei~d ot uid land in fes ~ timple or such ot6er estate~ d wy as is stat~ed henin; that he has f ull power and iaw[ul rigbL to ooAvep ~6ha s~me t a~ Joreeaid; tha~ t6e laud ~s iree from ~ll encuu~branoes exoept r?+ herein ot~herwise recit~ed; th~t said Mortgagor = will make such fur~ber wuranoes to prove tbe atores~id titde to w~id l~ad in said Mortg~gee aa ~a be reueou ab~yrequired, and that~ said Mortgagor does hereb~ full7 ~rarnat tbe tiUe to said luid~ and ever~ part thereot~ ~nd will detead tLe s~me agsiast Ws lawful cJ~ims oi a11 peraons wbomeoever. Paoviasa AL~r~YS th~t i! tbe ~iortgagor shall pa~ unLo ths Mortg~ges tha~ oertaia promisas~ note~ oi wLich ths followiog is ~ wbstaatial ooPJ, to wi~: ; : l7,300.00 tt. Pterci ~ _ , JaauaY7 2Z .1979 . Fon VwLVS R~cscvs~~ tbs undei~gned promise(s) to p~y to ?HL L~8 b ~i~tiTO~f t~0l~iAN! ~ . ~ s eorporation oe~,snised aad eaostin~ under tbs bws o[ th~ 8lat~ o! Co~ctiaut°~ °~°r~ u1° ~1D°PV °t°~ ~ srvrn thou~a~ld Z6rN ~ buo~dr~d amd e~o/100- • - - • • - • - - - • Dd4rs (i )7, . with interest irom date at t6e rate d l~ia a~1d Oa Hal! P~ oeatum ( 9.S%) P~ annum an t6e unp~id b~laaoe natil paid. T~e aaid princip~l and intereid ahall be psyable a! the o~ae d T!Q Lt~N$ b 11~1?LiTaf ~pQA11Y, ` iTS o,caos. ser«e ~ - : in ~w Sav~~ Com~tiatt! 06510 , or at aneb ~tLec plaoe as tbe hdder may desi~nate in writin6 aeiivered or mailed eo the aebtor, in moathlr inscaumen~s ot thr.. hm~r.d tetses.a a 69lio0 Donam # (i 91~.69 oommencin~ ori the fitat day oE ~h - , 19 79 , and oa~tintw~ oa tbe Srs~ da~ oi esch month thereatter until tbis note is fully paid, e~Qept tbs~. ii ta6 soQnqr Ipid, .tbe fin~l payment oi princ~p~l snd interest shaU be due and payable on the Srst day oi li~2009. • - Pri~i~e~e ia reeerved to prepa~ ~L any time, wit6out premium or fee. the en indebtednees or any part . thereot not las thw tbe amount oi one ia~taUmaat, or oq~ hundred doUaes (=100.00), whicbe~er is las. hepsyment in tull d?aU be ercdited oo tt~e date receNed. P~rtial prep~yment~ ot6er thao od an iastallment due date, aeed not be aedited untU tbE neut fdlowln~ indalimeat due date or thirty d~ys atter ach prepayment, whicheret !s earljer. Ii any deficiency in the payment oi any i~tallment under this note is not mada good prior tio tLe due date oi the aezt such installment~ .the entire principsl sum and aRxrued interesti ehall aL onoe beoome due snd pa~ . sble.w?ifhout notice st the optan o! the bolder of tbis note. Failure to e:ercise tbis option shall not oo~tat~te ~ waiver of the right to eiemaee the same in the event of an9 subsaquent defoul~ In the event of deisult in the payment of t~hia note, aad if the eame is oollected by an attorney, at Lw, the undersignod hereby agree(e) Ro pa7 all oosts of oollection~ including ~ reasonable attarney'a fee. Thie note is eecured by mort~sqe oi even date e:ecuted by the undersigned on oertain property deecribed therein and repreeents money actually used for We acquisition oi eaid property or the impmvemente there~n. Pt~esenLment~ pmtest, aad notaws are hereby waived. ~ /s/ Lawrence Sparl~an; Jr. ~~L~ La~t~oa~ Spa=i~ta, J~• /s/ Ruby Suarl~an jbntr9 SPari~an - ~ - . ~s~"i'~ ~ And shaD duly, promptly, and fully pedorm, discharge, execute, eHect, complete, and comply ~vith aad sbide ; by esch and ever~r t6e stipulstions, agreements, conditione, and covenants of said promiasory note and of this ~ mortgage, then th~a mortgsge and the estate hereby created shall cease_ aad be null sad void. ~ ' ! Thc Mortgagor further oov~aata as followa: ~ ~ 1. That he willps y the indebtedness, as hereinbetore pmvide~. Privilege ie reserved to pnpsy st any time, : withaut premium or fce~ the mtire indebtedneee or aay part thereof aot lees t6an the amount of one inatallmml, os ~ E oae hundred dollaa (~100.00), ~vhid~evet is less. Prepayment in tuU stWl be cxedited on the date tecei~ed. Partial s s prepryment, other tl?an on ao inctallm~t due date. need aot be c=edited unW the next tbllowin` installment due date or ` ' ~~Y ~3's after wch PreWYmen.t, t~r6ic6ever is earlier. ; ~ 2. In order ~nore fulh• to protect, the securit~ ot this niortgag~~~the ~Iorigagor~ toget}~er with,~and in ~ ~ addition to, the monthl~ ps}hiients under the terms of tl;e note ser,ured hereby, on the first da~ of each month : ~ until tl~e 3aid note is fu~ly paid, wt~l pa~ ta the Mort~e~;c~e, as trustee, (under the ternis of this truat as herein- _ after stated) the~ollowing awns: - ± ~ a A sum ual to the d ren J an next due lus the remiums that will next beoome due aad ~ E on po~ciea ot 5n an~d other a ard '~nw~raace covering tl~e mortgaged rt ; ~ next due on the mortgaged Pt~operty (all sa.eatimsted b the Mo Y, Plus taxes sad asaessmenta E " noti5ed lea4 all sums alread y y s°d of which the Mortgagor is i ; ~ y paid therd'or divided b tbe number of ma?ths to elapee before one month ~ prior to the date whea wc6 6r~und t+eats, pnmiums, taxee, and aaeeaamente wd~ become delinquent~ ~ ~ suc6 wma to be held by Mortgagceintrusttopaysaid6r+oundrenta,premiums,t~e~andspecialaasessmenta. € (b) The ag~egate ot tbt amounte pa~able pureuunt to aubparagraph (a) aad thoeepa~ yable ot~ the note ~red ' ~ henby, aball be psid in~s aingle PsYmeat each mont6, to be applied to the f~llowin6 itema in t6e oeder atsted - ~o~wd re~t0. ta~ce~, 8~asmeate, 5n, aad other ha~srd insurance premiums; - - (II) intereat an the note secared hereby; aad F (IIn amortisation of the principal of aaid note. ~ ~ Any deficiency in the amount of sucha~gregate monthly payment ahall, unless msde good by the Mort-- gagor prpr to the due date ot the next such payment, const~tute an event of defaulf. under this mortgage. • At Mortgagee'a option, Mortgsgor will pay s"late chsrge" not exceeding four per centum (4°Jo) of sny install- ~ ment when paid more than fifte~n,(15) dsys after the due dste tbereoi to oover the eutrs eupense involved in i = hsndling delinquent paymente, but such "late chsrge" shall not be payable out of the proceeda oi any sale ~ made W estiaty the indebt~dness secured hereby, unless such proceeds are sufficient to dischatge the entire indebtedneas snd all proper costs and expenses secured thereby. 3. If the total of the pa~•ments mad~ b• the Mortgugor under (s) of para~ruph 2 preceding shall eaceed ~ , a ~ the amount of pa}-~nenls actunll~ n?adc~ b~ t)'e iliort~a~ee, as trustee, for greun~l rents, taxes and ssses.~ments, ~ a n d i n s u r a n c e p r e m i u n ~ s, a s t h e c a s e m a~ b e, suc h excess s h a l l b e cre di te d on su b s equent payments to b e m a de 'j ~ by the Mortgagor for such items or, nt Mortgagee'a option, as trustee, ahall be refunded to Mortgsgor. If, ~ however, such monthly pa~menta shall not 1?c~ suffi~~ipnt to par such itews when the same ahall become due 3 and payable, then tl~e Mortga{tor shnll pa~ to U~e ~dort~s~e~, us trustee, an~ amount necessary to make up the de6cienc~. Such pa~ment ahall be.m~uie ~viEhin U~inv (:301 da~^s after written notice from the Mortg~ge~e. s4ting tbe amount of the de!'ic~ency; ahicii notice miybe giv~~b il. Ii st any time tbe Mor~ga~g~r ~ } ~ g~:~~~~2 ,t,F ~337 ~ ~ ~ . . . - - - _ _