HomeMy WebLinkAbout2747 The Mortgagor hereby covenants with the Mortgages, that he 'r indeteaaib~ raised of wd land in tee
simple or such other estates if any as is stated herein; that he has f all power and laww[[ul right to oolavev the slims
as aforauid; that the land >s tree from all eacumbrsaoea except as herein otherwise recited; that aaid~iortgsgos
will make such further aesuranoes to prove the afor+eaaid title to acid land in said Mortgages as may be reawn-
ab~j rreeqquired, and that acid Mortgagor does hereby f warrant the title to acid land, sad eveq part thereof,
end will deteod the same against the lawful claims oi~ perwns whomsoever.
Psovtaso Arwe~rs that it the Mortgagor shall pay unto the Mortgages that cset~ain promissory note, of
which the following is a substantial Dopy. to wik
i 41,500.00 Fort Pierce , Pforids.
February 23 10 79.
Fos Vwws Rscsavso, tbs undersigned promise(s) to pa4Y to
TIiB LOMAS & NSTTLETON OOMPANY
, a oorpontioa orsanised and ~E under the
lava at the State of Connecticutioe order, the principal sum of Forty One Thousand Five Hundred
and no/ 100---- Ddlars (141, 500.00 with intered troan date a!
the rats at Nine and One Half parr aatum (9.5 ofo) pee annum on the unpaid balance until paid.
The said P~pPv sad ehaill ~ PaY~ at ~ ~ The Lomas ly Nettleton Company,
175 Orange Street
in Nev Haven, Connecticut 06510 , oe at sash other place as the holder may deeigrate in writing
delivered or mailed to the debtor, in monthly installments of Three Hundred Forty Nine & 02/10
(i 349.02 oonnrnenciag m the first day of April . 19 79 , sad ooatiauiog ~ ~
first dad of each month theredter until this note is fully paid. esoept that, it not sooner paid, the final payment
of principal and interest shall be due and payable on the fiat day of March , 2009
Privilege is reserved to prepay at aqy time, without premium or fee. the entire indebtedness or say Part
thareot-not las tbaa tM anwunt of one indallmant, or one hundred down (=100.00). whichever 4 kw. llrepr~yment In tol!
shall be credited on the date received. Partial prepayment, other thou oa ao Installment due data, need not be credited untU
the nit following installment due date or thirty days after sudi peapsymeat, whichever 4 earlkr.
If any deficiency in the payment of any installment under this note is not made good prior to the due date
of the nest such installment, .the entire principal sum and accrued interest shall at once become due and pay #
able without notice at the option of the holder of this note. Failure to exercise this option shall not oonsUtuts {
a waiver of the right to ezereise the same is the event of any subsequent default. Ia the event of default in the
payment of this note, and if the same is collected by an attorney st Lw, the undersigned hereby agree(s) to
pay all costs of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date executed by the nndersigned on certain property described
therein and represents money seta y used for the acquisition of said property orr the improvements thereon.
Presentment, protest, sad noticxi era hereby waived.
1st-Arne Charles Willaman. Jr. ~gg~L~
ARVINE (.gIARI.ES WII.I.AMAN, JR.
- „[R j carol M. ilillaman ~ggAL~
- CAROL M. WILLAMAN
[~?L]
_ [SEAL]
And shall duly, P~PtiY, sad ~ P~~, d~~Be, execute, e8ect, complete, sad comply with and abide
by each and ever)r the stipulations, agreemeata, oonditioaa, and covenants of said promissory note and of this
mortgage, then this mortgage sad the relate hereby created shall rase sad be null and void.
~ The Mortgagor further oovenaata as follows:
1. That he will pay the indebtedr?eaa, as herranbefora provided. Privilege is reserved to Prepay at any time,
~ without premium ce fee, the entire indebtedness or any part thereof not less than the amount of one installment, or
one hundred dollars (;100.00), whichever- is less. Prepayment in fuD shall be credited oa the date received. Partial
~ prepayment, other than on an installment due date, need not be credited until the next [Mlowint installment due date or
i thirty days after such prepayment, whichever is earlier.
E 2. In order more fatly to protect the security of this mortgage, the Mortgagor, together with,•snd in
+ addition to, the monthly payments under the terms of the note secured hereby, on the first day of each month
until the said note is fully paid, will pay to the Mortgagee, as trustee, (under the terms of this trust as herein-
after stated) the following awns: -
(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable
on policies of fire sad other hasard insurance covering the mortgaged property, plus taxes and assessments
next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
~ notified) leas all sums already paid therdor divided by the number of months to will before one month
S prior to the date when such gramd tents, premiums, tares, and assessments will become delinquent,
such sums to be held by Mortgageeintruattopsysaidgroundr+eats,premiums,taaes,andspecialaseeaemeats.
(b) The aggregate of the amounts paq~ble pursuant to subparagraph (a) and those ppaa~yyaabble on t~ note secured .
hereby, shill be paid is a single payment each month, to be applied to the fallowing items is the order
s~at-
(n gtrnmd rents, lases, aaeresmmta, fin, and other hssard insurance premiums;
(II) intar+est an the note secured hereby; and
(III) amortisation o[ the principal of acid note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mor•~
gagor prpr to the due date o[ the next such payment; constitute an event of default under this mortgage.
At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of any install- 1
meat when paid more than Sateen (15) days after the due date thereof to Dover the extra expense involved in
handling delinquent paqmeats, but such "late charge" shall not be payable out of the proceeds of any sale
made to satisfy the indebtedness secured hereby, unless such proceeds are au@icient to dischuge the entire
i indebtedness and all proper costs and expenses secured thereby.
~ 3. It the total of the pa~~irents made baa• the Mortgagor under (a) of paragraph 2 preceding shall exceed
the amount of payments actually niadP by ttie Mortgagee, as trustee, for ground rents, taxes and assessment8, +
end insurance premiwns, as the case rna~• be, such excess shall be credited on subsequent payments to be made _
~ by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. It, f
however, such iiiontlJy syments sliell not he suffi~•ient to pa~• such items when the same shall become due ;
and ppaay~able, Mien tl?p:,~~oftggg~ -.gtty to tlic Mortgagee, as trustee, any amount necessary to make rep
the deficienev~~ S~~p~? aiarle ~l~in thirty (:30) days after written notice from the Mortgagee
4 statingt ciea , w is notice may be given by mail. If at a;~~ne Mor ~l t _
~c+p~ ~~J~3 ~A~74
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