HomeMy WebLinkAbout2155 The Mortgagor hereby covenaats with the Mortgagee, that her indet6asib seized of said land in fee
~oanpple or such other estates J any as is stated herein; that he has full power itnd lawiul.right to ooovev the same
v afor~eeaid; that the load >e free ~rom all encumbrances except u herein otherwise recited; that saidZVlortgagor
will make such further assuranoos to prove the aforesaid title to said land in said Mortgagee ae may be reason-
ab r~'e~qQuired, and that acid Mortgagor does hereby fuU7 warrant the tilde to acid land, sad eves, part tliereot,
~wiU defend We same against We lawful OlaiC[ia of all persona whomsoever. "
PaOYIDSD ALwA?a that if the Mortgagor shall pay unto the Mortgages Wet certain promissory note, of
which the following is a substantial copy, to wit:
= 47,700.00 Fort Pierce , Floeida.
March 8 , 19 79
Foa Vwrvs Rsesnrsn, the undersigned promise(s) to pay to
TIIB LOMAS ~ NETTLETON OOI~ANY , a oorpontion organised sad eriedioa under the
Iowa of the State of Connecticut; or order, the principal sum of FORTY SEVEN TI1bUSAND SEVEN HUNDRHD
AND no/100-------------------------------1Dallara 47,700.00 with interest from date at
the rate of NINE ~ ONE HALF per oentum (9.5 Per annum oa the unpaid balance until paid.
The acid principal and interest shop be pakysble at the office of
TIIB LOMAS ~ NBTTLBTON COMPANY - P. 0. Box 964 "
is Virginia Beach, VA 23451 , or at such other place as the kidder may designate in writing
delivered or mailed to the debtor, in monthly inat;allmenta of FOUR IIITNDRBD ONE b 16 / 100- - - - - - - Dollars
(i 401.16 commencing on the first clay of May , 19 79 ,and ooatinuina oa the
first day, of each month thereafter until this note is fully paid, except Wst, if not sooner paid, the final~ayment
of principal and interest shall be due and payable on the first day of April ~ 200Y ,
Privilege is reserved to prepay at any time, without premium or fee. We entire indebtedness or any put
thereof act less than the amount of one iteitapment, or one hundred dollars (=100.00), whichever is lens. Repayment is tall
dial! be crsdited on the date received. Parisi Prepayment, other than on an installment due date. need not be credited until
the nett [dlowing iastaUmeat due date or thirty days after such prepi~yment, whichever is earlier.
If any deficiency in We payment of any installment under this note is not made good prior to We due date
of We ne=t such installment, t_he entire pprincipal sum and accrued interest shall at once become due and p~y-
able wiWout notice at the option of the Lolder of this note. Failure to ezercise this option shall not constitute
a waiver of We right to e=ercise We same in the event of any aubeequent default. In the event of default in the
payment of this note, and if the same ie collected by an attorney at law, the undersigned hereby agree(s) to
pay all coats of collection, including a reasonable attorney's fee. "
Thin note is secured by ,,.ortgtige of even date executed by the undersigned on certain property described
therein and represents money actuaalllly used for the acquisition of said property or the improvements thereon.
Presentment, protest, and notice are hereby waived.
_ , f~/ Charles ~liy~ Blgnt~?I,]
CHARLES OLIVER BLANTON
/s/ ie ne Marie B1 toil [s,Br?L]
JF.AAIIIE MARIE BLAN'lON
[tom.]
[tom.]
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and abide
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this
i mortgage, then this mortgage and the estate bereby created shall cease and be null and void.
The Mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time,
{ without premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or
t one hundred dollars (1100.00), whichever is less.
2. In order more fully to protect the security of this mortgage, the vlortgagor, together with, and in
k addition to, the monthl~• payments under the terms of the note secured hereby, on the first day of each month
until the said note is fakir paid, will pay to the Mortgagee, as trustee, (under the terms of this trust as herein-
after stated) the following sums: _
(a) A sum equal to the ground r+ente, if any, next due, plus the premiums that will neat become due and payable
on policies of fire sad other hazard insurance covering the mortgaged property, plus taxes and assessments -
4 neat due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
' Lotified) less all sums already paid therefor divided by the number of months to elapse before one month
prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent,
~ such soma to be held by Mortgageemtrusttopaysaidgroundrents,premiums,taxes,andspecial8saesaments.
(b) The aggregate of the amounts pa able pursuant to subparagraph (s) and those payable on the note secured
hereb ,shall be paid in s tingle payment each month, to be applied to the following items in the order
r
1 (I) ground rents, taxes, asseasmeata, fire, and other hazard insurance premiums;
(II) interest on the note secured hereby; and
(IIn amortisation of the prinapsl of said note.
Any deficiency in the amount of such a~gre~afR monthly payment shall, unless made good by the Mort-
1 gagor prior to the due date of the next such payment, constitute an event of default under this mortgage.
At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding fora per centum (4°Jo) of any install- ;
~ ment when paid more than"fifteen (15) days after the due date thereof to cover the extra expense involved in
handling delinquent paymenu, 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 sufficient to discharge the entire '
indebtedness aid all proper costs and expenses secured thereby.
3. If the total of the payments made by the 1lfortgagor under (a) of paragraph 2 preceding shall exceed
the amount of payments actually niaile hr tf~e tilortgaKec, as trustee, for ground rents, taxes and assessments,
and insurance premiums, as Uie case maybe, 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. If,
however, such nwntl?ly payments shall not lie sufficient to pay such items when the same shall become due
r and Pa able, then the Mortgagor shall pay to the Mortgagee, as truster', any amount necessary to make up
the def
ciency. Such payment shall be made within thirty (a0) ds~•s after written notice from the Mortgagee
r ststiag the amount of the deficiency, which notice may be given by mail. If at any time the Mortgagor shall
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