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Home My WebLink About0843 : , . ~ The Mortgagor hereby oovenanls with the Mortgsgee~ thst he ia indeteasib~y seir.ed oi ssid bnd in fee dmple or such other eetate~ d aay ae is stet~d hereia; t68t he has tull power and lswtul right to coovev the snrue aa ~toreeaid; 4hat t~e land ia tree from vl encumbrances excep0 aa herein ot~herwise recit~i; Lhst saidZviortgagor ~vill meke eucb furt,6er asaw~nces to pcovo the ~foc~ea~?id tit,le to said land in eaid Mortgagee ~s nuy be reaaon- sblyrequiced~ end that said Mortgagoc does hereby fully wurant the tiWe to said land~ snd evary par~ t1?ereoi, ~ad ~rill detend the same againat the lawiul cLima oi aU pereow whomsoever. Psoviugo ALw?~YS t6~t it the I~io~tgagor ahAll pay unb tbe Morigagee Lhat oertaiw promissory note, of which Lhe following i~ a aubstanVal ooPy~ to wi6: i 38,500.00 Fort Pierc,~lorida. ~ April 12 ~19 79. . FoR Vwt.us Rscsivsn, the undereigned promiee(s) to pay to THE LOMAS ~ NETTI.ETON COMPANY ~ s oorporstion orgaaised end e~osting under Lhe bwe of the State of Connecticut, or order, the p~incipal aum otTHIRTY EIGHT THOUSAND FIVE------ HIiI~IDRED and no/100-----------------------Dollare 38,500.00 with interest from dste st the rste d riINB ~ ONE HALF per centum ( 9.5 per annum on the unpsid balance unW paid. The eaid principal and interest shall be payeble at the o6ice af THE LOMdS b NEITLETON CO1~l~NY P. O.. Box 964 - in Virginia Beach, VA 23451 ~ or at such ot6er plaoe as the holder m~y designate in ~vriting delivered or mailed to t6e debtor, in monthly installmenta 8f1~tEE H[INDRID Tf~18NTY THREF6~ 79/100~ (i 323.79 commencing on the first day of June. ~ 19 79 , and oontinuing on the first dsy oi each month thereaiter until this note is fully paid, e:cept that, if no~ ner paid, the fiq~~~yment oi principal and interest shaU be due and paysble on the firat day oi Y , . privilege is reserved Lo prepay st sny time, without premium or fee, the entire indebtedness or any pst~ thereof not less than t6e amouat ot one iastallme~t, or oae 6uadred dollus (=100.00), whichever is less. Prepayment in full ahaq be credited on t6e date received. Pattial prepayment, other than on an installment due date, nc~ed aot be credited until the ne~ct fdlowing iasWlmeat due date or thirty days a[ter ~cd prepayment, whichever is eulier. If sny deficiency in_ the psyment of wy instsllment under this note is not made good prior to the due dste of the ne~ct such installment, the entire principal sum and acerued intereat shall at once become due and pay- sble without notice at the option ot the holder oi thia note. Failure to eaercise this option ahall not oonstatute t waiver of the right to ezercise the same in the event of any subsequent default. In t,he event of default in the payment of this note, and if the asme ie oollected by sn attorney at law, the undereigned hereby agree(s) to psy sll coste of oollection, including a reasonsble ettorney's fee. Thia note is eecured by mortgage of even date executed by the undersigned on certain pmperty described therein and represents money sctually used for the acquisition oi esid property or the impmvemente thereon. Presentment, ~protest, snd notic.~s sre hereby waived. _.______l~l ~e~,F~ ce James [s~?Ll -~~~,f •arhip A iames ~~I,~ CATHIE A. JdMf:S ~ _ - [s~.l , ~ (s~L] ~ ; And ahall duly, promptly, and fully perform, discharge, execute~ effect, complete, and comply with and abide ! by each and every the stipulations, agreements, conditions~ and covenants af said promissory note and oi thia ~ mortgage, then thia mortgage and t6e estate hereby created shall cease and be null and void. ` The Mortgagor further oovenants as follows: s 1. Thst he will pay the indebtedness~ as hereinbefore provided. Privilege is rEServed to prepay at sny time, ~ without premium or fee~ the entire indebtedneas or any part thereof not less than the amount of one installment, or } one huadred dollars (i100.00), whichever is less. t 2. In urder more full}- to proterl tht• securit~- of iLis niort~aRe, the :~~iorigagor, togetl~~r with, and in ~ addition to, ihe monthl~• pa~•ments und~r th~ terms of the note s~cured i?e~reb~•, on thr first cla~• of cach month i unti! tl~e said not~ is full~• paicl, v?ill pnr to the tlortKagce, as tragtee, (un~l~r tiie terms of this trust a.s i?erein- s a(ter statecl) tiie f~~1loNing sun~.s: ~ (s) A sum equal to the grouad rents, if any, next due~ plus the premiums that will next be.~wme due and payable on policiea of fire aod other hsaard insurance covering the mort~aged property, plus taxes and assessmenta , ~ next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor ia ~ notified) lese all eums already p~d therefor divided by t6e aumber of months to elap~e before one month ~ prior to the date when suc6 ground rents, premiums, taxes, and asgessments will become delinquent~ ~ euch suma to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialassessments. ~ (b) The aggregate ot the amounts payable pursuant to subparagraph (s) and thosep~ yable on the note secured , 6ereby, shsll be paid in a single psyment each mont6~ to be applied to the following items in the order ~ stated: - ~ i (I) ground rente, taxea, asaessments, fire, and otber 6asard insurance premiuma; (II) interest on the note eecured herebq; and ~ (III) amortisation of the principal of said note. r Any deficiency in the amount of such a~re~ate monthly payment sha11, unless made good by the Mort- ~ gagor pr~or to the due dste ot the next such payment, constitute an event of default under this mortgage. ; At Mortgagee's option, Mortgagor will pay a"late cl~arge" not eaceeding four per centum (4%) ot any install- ; ment when paid more than fifteen (15) days atter the due date chereof to cover the extra expense involved in handling delinquent ~ayments, but such "late charge" shaU not be payable out oi the proceeds of any sale = made to satisty the indebtedness secured hereby, wiless such prceeeda are sufFicient to discharge the entire ; indebtednesa and all proper costs and expenses secured thereby. 3. If tl~e total of tti~ (i8~"IIIPI1tS IIIU(~P h~- the ~1ort~n~;or un~l~r (n) ~f pnru~rupli 2 precedinR shall exceed ; ~ the amount of pa~•~nents a~tuull~- ma~i~ t,r ti~e :ltort~a~er, as truste~, fnr ~roun~l r~~nts, tnxes and as.ges.qments, i ~ and insurance prc~~niu~us, as th~~ ~•~sc~ u~e~~bc•, such excesa shall tx~ c.redit~~1 on su}~seyueni pa~•ments to be made = : by the :1Rortga~or for such iten?s or, at MortguRee's option, x.g trustce, shall be rcfunded t~ Mortgsgor. If, ~ however, such montl~l~ pa~•mcnts shAll not I,e suffi~•i~nt to pa}- su~h i~ems when the same ahall become due ` and pa~•nble, then tl~c '.4tortRa~or ~hall pa}• to tli~ ~1ort~n{~~~~, a.g iruste~, nm- amount necessarv to make up ; the de$ciene~•. Surl~ pa}•ment sliall ix~ n~a~l~ within thirt~ (:i0) da~~+ aftPr written notice from the Mortgagee . ~ atating t6e amount ot the deficiency, which notice msy be given by asi~f~t sny tir~ ~ e biortgsgor shall T1 ; 3CCr ~Ci ~vl ~ ~I ~ . _ ~ m5S`.2rv~ ~..s- .aw . .~...~~.1 . di..~'S _ . i _ 'T".'~'3~