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The Mortgagor hereby covenants with the Mortgagee, that he is indeteaaibly seized of said Lod in tee
simple or such other estatet it any as is stated berein; that he has toll power and lawful right to ooavev the same
as aforesaid; that the land >s tree ~rom all encumbrances except as herein otherwise recited; that said~tortgagor
will make such further assurances to prose the aforesaid title to said lead is said Mortgagee as may be reaaon-
ably rreeqquired, and that said I?~ortgagor does hereby full warrant the tills to said land, and every part tl?ereof,
and will defend the same t~gainst the 4wfu1 claims of a~ persons whomsoever.
Paovlr,sD ALMAYa that if the I?10rtgagol Shall pay until the Mortgagee that certain promissory pots, Ot
which the following is a substantial Dopy, to wit:
= 36,400.00 Fort Pierce,
April 24 , 19 79 .
Fos Vwi.vs RscstvsD, the iiadersigoed promise(s) to pay to
T 11E lAMt1S b, NETTLETON COMPANY '
, a corporation organised sad snaring under the
laws of the State of Connecticut, or order, the principal sum of THI1tTY SIR TIDUSAND FOUR 11iTNDRED
and no/100----------------------------- 36,400.00 with interest from date at
the rate of TEN per ceatum ( 10 ofo) per annum oa the unpaid balance until paid.
The said principal and interest shall be payable st the ofSce of
THE LOMAS ~ NETTLETON COMPANY - P. 0. Box 964
in Virginia Beach, VA 23451 , or at such other place as the holder may designate in writing
delivered or mailed to the debtor, in monthly iastallmenta of T1HtEE HUNDRED NINETEEN ~ 59/100-Dollars
(i 319.59 commencing on the first day of June , 19 79, and continuing on the
first day of each month thereafter until this note is fully paid, except that, if not sooner paid, the final ayment
of principal and interest shall be due and payable on the first day of May 2009
Privilege is reserved to prepay at any time, without premium or tee, the entire indebtedness or any part
thereof not less than the amount of one iattal7meat, or one htiadred dollars (=100.00), whichever is less. Prepayment is full
shall be credited on the date received. Partial prepayment, other than on as ' nt due date, need sot be credited until
the next following installment due date or thirty days after wch prepayment, whi ever is earlier.
It any deficiency in the payment of any installment under this no is not made good prior to the due date
of the ne:t such installment, the entire principal sum and accrued in t shall at once become due and ~ay-
able without notice aL the option of the holder of this note. Failure b ezercise this option shall not constitute
a waiver of the right to exercise the same in the event of any subsequent default. In a event of default in the
payment of this note, and if the same is collected by an attorney at law, the undersigned hereby agree(s) to
pay all costs of collection, including a reasonable attorntsy'a fee.
This note is secured by mortgage of even date executed by the undersigned on certain property described
therein and represents money actually used for the acquisition of said property or the improvements the~reoa.
Presentment, protest, and notice are hereby waived.
/s/ Richard A. Roudebush [gg~L]
~___~/s/ Suzanne M. •Roudebush [~L]
SUZANr1E M. ROUDEBUSH
_
[SEAL]
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with d abide
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this
f mortgage, then this mortgage and the estate hereby 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 indebtedneas9r any part thereof not less than the amount of one installment, or
one hundred dollars (1100.00), whichever is 1~
2. In order morn fuli~• to protect the srrurit~- of this ntongagr, the ~tonKagor, together with, and in
adcfition to, the monthl~• pa~•ments under the terms of the note seruretl hrrnb~•, on the first da}• of each rnonth
until the said note is fully paid, will psi- to Ute 1longagee, as trustee, (antler the terns of this trust e_s herein-
aftrr stetrd) tl~e follov:irig scans:
(a) A sum equal to the ground rents, if say, next due, plus the premiums that will next become due and payable _
on policies of 5re and other hazard insurance covering the mortgaged ProPertY, Ply and assessments
i next due on the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
~ notified) 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 Lecome delinquent,
such sums to be held by Mortgageeintnisttopsysaidgroundrents,premiums,ta:es,andspecislassessments.
(b) The aggregate of the amounts payable pureiiant to subparagraph (a) and those payable on the note secured
~ hereby, shall be paid in a e payment each month, to be applied to the following items in the order
stated
m ground rents, taxes, assessment8, fire, and other hazard insurance premiums;
_ (II) interest on the note secured hereby; and -
(III) amortisation of the principal of said note.
r Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Ilion-
gagor prjor to the due date of the next such payment, constitute an event of default under this mortgage.
At Mortgagee's option, Mortggagor will pay a "late charge" not exceeding four pet centum (4%) of any install-
{ meet when paid more than Sfteen (15) days after the due date thereof to cover the extra expense involved in
handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale
~ made to satisfy the m ebtedness secured hereby, wiless such proceeds are sufficient to discharge the entire
indebtedness and all proper costs and expenses secured thereby.
3. If tl?e total of the pa~-n,rnts made l,~• the :liortgngor under (s) of paragraph 2 preredinR shall exceed
the amount of pa~-nientc actually- made b.• file ~fortKsKre, as truster', fr,r Kround Wrote, taxes and asse~menls,
~ and insurance premiums, ag the case may- br, such excess shall t,e credited on suhsryuetit payments to be made
~ by the MongaKor for surh items or, at Mortgagee's option, as truster, shall be refunded to Mongagor. If
i howe.ver, such monthly payments shall not IM sufficient to pay' surh items when the same shall become due
and pa 'able, then the Mortgagor shall pny to the ~1ortKager, as truster, any amount necessan• to make up
the def?cienct•. Surh payment shall br made within thin}- (a0) day's after written notice from the Mortgagee
stating the amount of the deficiency, which notice may be given by mail It at any time the Mortgagor shall
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