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Home My WebLink About0901 The Morigagor hereby covensnts with tha Morlgagee, thst he is indefeaRibly seized ot said land in fee thet he hea tull power snd le?wtul rig6t to convev the anme eimple or sucb other esta?tet J wy as is atated berein; as afaresaid; that the land ~s iree ~rom all eucumbraaces except as hsrein otherwise recited; thaL svid~fortgago~ ~vill make auch furt6er asawrances to provo t6e aforesaid title W s~id land in said Mortgagee ~s m~y be reASOn- ablyreq uired, and that said Mortgagor Joes hereby fullp ~rarran6 the title to said lsnd~ end avery part thereot, ~ : ~d will defend t6e same agsinat the lawiul claima oi all pecsons ~vhomsoever. ~ 't. Paov~uso At~r~YS t~hat it the ~?iortgagor ah~ll p~y unto the Mortgagee tha~ ce~tsin promissory note, oi wLich Lhe follovring ia ~ subst~nt,i~l ooP~~ to wi6: i 33~90Q~Q~ Ft. Pierce , ~7orids. January 26 , 19 79. Foa VwLVS Rscscvsn, t6e underaigned promi~e(e) to WY ~ THE LOMAS AND NETTLETON COMPANY ~ s oorporstioa organised aad ~ under the V~ a[ Connecticut , or order, the prineipal aum of Thirty-three Thousand ine hundred and 00/ 100----------------------~~ 33 , 900. 00 fmm dste d t6e rate of Nine 6 one-half per centum ( 9. 50%) per aanuun on L6e unPaid baleaoe until P~id. The eaid principal ead inLerest ehaU be psyable at t6e o~ce of The Lomas and~ Nettleton Company - 175 Orange Street, New Haven CT 06510 ~ Connecticut ~ or at such other pL?oE as the holder may de~nste ia writins delivesed or mai)ed to the debtor, in monthly installmente ot Two Hundred Eighty-Five S10/100 (i 285.10 oommencing on the 5ret day of March , 19 79 , aad oantiauina oa the first ds~ oi each month thereafter until this note is fully pud~ except tLst, if not eooner paid, tbe final payment oi principal and interes~ sha11 be due and ptyable on the firat dsy, of February, 2009 ~ piivilege is reserved to prepay ati any time, without premium or fee, the entire indebtednees or sny part theseoi not las tban tlie amount of one iastallmeat, or ope hundred dollars (i100.00). wdiche~ver is lesa. hepayment in tuli shall be credited on the date reeeived. Partial prepsyment, other thaa on an installment due date, aeed aot be credited uatil the ne~ct toAowin= instaUmeat due date or thiity days atter such prepaymeat~ w6icherer is eulier. Ii aa~ de6ciency in the paym ent of any inatallment under thia note is not made good prior to the due date of tLe ne=t such inatallment, tbe entire princiPal sum and accrued interest ahall st once beoome due and F~y- able without notice at We op~ion of t6e holder of t6is note.. Failure to esercise this option aLall not oonatatute s waiver of tLe right to ezeir,ise the same in the event of sny subsequent defaul~ In We event of default in the psyment of t~is note, and it the same ie oollected by an attorney at lew, the undersigned hereby agree(s) to psy all oosts of collection, including s ressonsble sttorney's fee. Thia note is aecared by mortgage oi.even date executed by the underaigned on certain property deacribed tLerein and represents money actually used for the acquisition of said propert~y or tbe impmvements thereon. Pneentment, protest, and noticp, are hereby waived. /s/ James E. Trent ~gg~L~ ~ JAMES E. TRENT - ~s~?L~ ~ i - - ~ ~~L~ f And shall duly, prumptly, sad fully pedorm, discharge, euecute, effect, complete, and comply with and sbide by each atid every t6e stipulations, agreementa, conditions~ snd covenants of said promissory note and of thia ~ mortgage, then this mortgage and the eatate hereby created shall ceaee sad be null and vad. I The Mortgagar further oovensuts ss follows: ~ 1. Tbat he will psq the indebtednesa, as hereinbefore provided. Privilege ia reserved t,o prepay st any time, without premium or fee. the entire indebte~ness or any part thereof not lesa than the amount d one installment, or one hun~ed dollus (:100.00), vrhichever is less. Prepayment in full shap be credited on the date received. Partial prepryment, other than on an installmeent due date, need not be credited until the next tollowing installment due date or tl~irty days after such prepaYment, whichever is earlier. . 2. tn order more fulh• to protect the securit}- ot this mortgage, thc ~torigagor, together with, and .in addition to, the monthl~- pa~•menta under the terms o( the note se~ured hereby, on the first da~ of each month until the said note is fu~ll~ paid, will pa~• to the Mort~ag~e, as trustec, (under Lhe tern?s of this trust as herein- after stated) the fullowing swns: (s) A eum equal to the ground rents, if any, next due, plus the premiums that will ne.~t become due and payable on p~liciea oi 5re sad other hasard insursace covering the mortgaged property, plus taxes and sssessmenta next due on the mortgaged pmperty (aU sa estimated by the Mortgagee and of which the Mortgagor is aoti5ed) lese all eums already paid therefor divided by the number of months to elepee before one month prior to tbe date when s~ch ground rente, premiums, taues, and assessments will become delinquent, . euch euma to be held by Mortgageeintrusttopsyesidgroundrents,premiums.taxes,andspecialassessmenta. ~ (b) The aggregate ot the amounts ps able pureuant to subparagraph (a) and thoeepayable. oa the note Recured hereLy, ahall be paid in a~e payment each month, to be applied to the following items in the order - etated: ~ ~ ' (n ground renta, taues, ~ase~mente, fire, and other hasard insurance premiume; ~ (In interest on the note eecured hereby; and t ~ (IIn amortisation ot t6e principal of eaid note. ~ ~ Any deficiency in the amount of such a~greRate monthly psyment ahall, unless made good by the Mort- j gagor pr~or to the dhe date of the next such payment, const~tute an event of defaulL under this mortga~e. -.p~ ~ ~ At Mortgagee's option, MorLgagor will psy a"late charge" not excee~ing four per centum (4°Jo) of any install- ~ ment whenpa~d more than Sfteen (15) dsys atter the due date thereof to cover the extrs expense involved in ~ hsndling delinquent pa yments~ but such "late charge" shall not be psysble out ot the proceeds oi any sale ~ ~ made to sstisfy the in debtedness secured hereby, unless such proceeds are sufficient to d~sc harge t he entire Q ~ indebtedness and aU proper costs and expenses secured thereby. ~ ; 3. If the total of the pa~ments mad~ hv the Mortgagor under (a) of para~!rnph 2 preceding shall exceed the amount of pa}•ments actuully mad~ b~- tf~e `iortKaKer, as trustec, for ground rents, taxes and sa.seasments, ~ and insurance premiunis, as thc~ case ~na~~ be, such excess shall be credited on subse quent payments to be made ~ by the :Viortgagor far su~h items or, ut MortgngeP's option, ag trustee, sha11 be"t~~ntled to Mortgsgor. If~ ~ however, such monthl~ pa~ ments shell not tx~ suffii•ient to pa~ such items when the same shall become due 0 ~ and pa~ able, then tlie `'Iortgagor shull pn~ to th~ ~tort~a~ee, as t rustec, an~ amount necesssry to make up ~,y the de~icienc}-. ~u~h pa~•ment shall be uia~le within thirt~ (:~0) da}~ aftPr written notice (rom the :1~Iortga~ee " st8t;n~ th~ »monnt of the deficiencq, which notice msy be given by mail. If st sny time the Mortga~or Rha)I rr~.~~~ _ _ . . , _ . . . _ _ _ - x°~