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Home My WebLink About0552 ~ . ~ . , r , Tha Mortgagor hereby covenanta with t6e Mortgeg~e, t,hat he is inde(e~ibl seized oi aaid laad in fee simple or auch oWer estate~ d any as is etaLed beroin; tha~ he has tull power and ls~ul righ6 fA ooDVev the same aa atoreaaid; th~L t6e land is iree ~rom all encumbrvaces except as herein otherwise recited; that ai?idlviortgagor ~vill malce suc6 furtber aasurancds to provo the atoresaid tiitle to said land in aaid Mortgagee ~?a m~ be reuson- ab~y req ~a ~d th~at~ssaid Mortgagor does hereby iully ~arrsnt tba title to aind land, and every put thereoi~ aad ~viU agai.os~ the lawtul e4ims oi i?ll pereonr ~vhomsoever. P80Y1DSD ALNAYB LII~` C~E ~~Ol~i80i d~l~U p~y 11IIti0 WA MOi1$igN W<t Cel~biD FtOm1880~? DOLe~ O~ which the tollowing is a subst~nti~l oopp. to witi: i 28, 000.00 Ft . Pi erce June 22 .1979 - Foa Vw~.us Rscuvso, the underai~ned promiee(s) to psy to The Lomas' b Nettleton Company, a Connecticut corporation, with principal place of business at 230 George Street, New Naven, Connecticut 06510 ~ ~ . s oorporstion organi~d aad mdatina uader We bwa at The State of Connecticut. or order~ the principai aum o! Twenty Ei ght Thousand and 00/100----=------------------------- ~O11aes (i 28,000.00 .vith interest from date at We rate of TEN per ceatum ( 10 P~ aanum oa t6e unpaid balanoe uaW paid. The eaid principat snd interest ehall be ~e?ysble at t6e o~ce ~ The Lomas & Nettl eton Compdny, 230 George Street, New Haven, Connecticut 06510 ~ ia Connecticut , or at auch other plsoe a8 t,he holder may deaignate in ~rritiug delivered or mailed to the debtor, ia monthty instaumente otTwo hundred forty five and 84/100Dollare (i 245,84 commencing on-the first day of August , 19 79, aad continuing on the fireti day oi each month thereaiter until this note is fully paid~ eucept that, if not eooner paid~ tbe fin~lpayment of princ1pal and interest shail ~e due and psyabta on t,he firat day oi Jul y ~ 2009 • privilege is reserved to prepay ~?ti any fame~ without premium or fee, the entire indebtednees or any part t6ereof not less t6~n the amount o[ one Inttallment. or oae 6undred doUars (=100.00). Nrhicherer k kas. Prepayment in full diaU be ceedited on tlie date recei~ed. Partial peepayment, other thaa oa an ~us4llmeat due date~ need not be credited until tbe ne~ct tdlowinr lnstallment due date or thirty days atter auch prepaymeat, whicl~~er is earlier. Ii any deficiency in the paym ent oi any iast+~llment under tLis note is not made good prior to tLe due dste of the nez6 such installment, the entire principsl sum and a~ccrued inte.rest shsll at once beoome due and pay- able without notice +~t the option of the holder of this note. Failure to eusrcise this option ehall not oonstitute a waiver oi the right to eaercise the same in the event of any subsequent deisult. In the event of default in the payment oi thia note, snd i[ the asma ie collected by an sttorney st Isw, the underaigned hereby agree(s) to psy sll oosts of collection~ including a reasonable attorney'e fee. ~ This note ia secured by mortgage of even date ezec~ted•~j! the~under~sd on ol~taia pmperty described tberein and representa money actually used for the aoquisition oi said property or tlte improvements thereon. Preeentment, proteat, and noticp, are hereby walved. r;~; - • - . fs/- James P. Searl.~s. a...... James P. Sear es ~ - ~ /s/ Romona S. Searles ; - [s8"j'] ; Romona S. Searles s - [sE"L) ~ ` And ahall duly, pmmptly, and fully perform, discharge, execute, eHect, complete, and comply with and abide ~ by esch and every the stipulations, agreements, oonditiona, and oovenanta of eaid prumiseory note and of t6ie mortgage, t6en this mortgage aad the estste hereby cr~ated shall ceaee and be nuU aad void. z The Mortgagor further oovenants as follo~ve: ~ 1. That he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to. prepay at any time, without prEa?ium or fee, the ~tir+e indebtednese or aay psrt thereof not less Lhan the amount of oae installment, or ~ oue hundred dollus (a100.00), whic6ever ss less. Prepayment in [ull shall be credited on the date received. Partial ~ pr~payment, other than on an inst~Ument due date. need not be credited until the next followin~C installment due date or ° thirty days after such prepayment, ~v6ichever is earlier. ~ 2. ln order more full~• to protect the seeurity of this mortgage, the tilortgagor, together with,~and in ' € addition to, the monthl~ pa~•n~enta unJer the terins of tl~e note sPCUred hereb~~, on the first. da~ of each montl? ` ~ until U~e said note is full~ -paid, will par to the ~Iort~a~;~e, as trustee, (under the tern?s of this trust as herein- , ~ after stated) the following swns: (s) A anm equat to t6e ground renta, if any, ne:t due~ plus the premiums ttust will next beoome due and payable i ~ on policiea of fire and otber hasard insurance. oovering t}ie mortgaged pmperty, plus taxes and assessments ~ nezt due on the mortgaged property (sll sa eatimated by the Mortgagee and of which the lNortgagor is ~ , notified) leae all aums already paid t6erefor divided by t6e number of moatha to elapee befoie one month ~ prior to the date when auch ground reate, pnmiuma, taxea, aad a~asments will ~ecome delinquent, - euch auana to be hetd by Mortgsgeemtniattopsysaidgroundrenta,premiums,tauea,andapecislaase~menta. - (b) T6e aggregste of the smounte pa able pureuant to ~bparagraph_ (s) and thosepayable on the note secured ~ , shall be paid ia s~e psyment each mont6, to be applied to t6e follow~ing items in the order ~ ~ (n ~ound re~nta, ta:ee, aasessmente, 5n, and other hassrd insurance premiume; ~ (II) int~rest on t6e note secured henby; and ~ (IIn amort,isstion of the principsl of eaid note. ~ An deficien in the amount ot such te monthl a ent ahall unless made ood b the Mort- ' Y, ~3' ~ ~K~ Y P Y~ ~ g Y ~ gagor pr~or to the due date ot the next suc psyment, const~tute an event of detault under thia mortgage. ~ At Mo r t g a gee's o ption, Mortg a g or will pa y a"late cl~a r ge" not eaceed i n g four p er centum (4° J o) of a n y i n s t al l- ~ ment when paid tnore than fiiteen (15) dsys after the due date thereof to cover the extta expense involved in ~ handling delinquent psyments, but such "late charge" ahall not be psysble out of the proceeds o! any sale made to satiafy the ~ndebtedness secured hereby, unlesa such proceeds are euff'icient to discharge the entiro ('.,i ~ ~ indebtedneas and all proper coats and expensea secund thereby. , ~ ~ 3. 1t the total of the pa~ ments maci~ br thP Mortgngor und~r (a) of para~rnph 2 precedinR shaU exceed ~"a ~ the amount of pa}•ments actunil~- ma~l~ br tfie ;liortKa~er, as truste~, for groun~l rents, taxes and as.sesamenta~ r and insurance prnmiw~~s, as thP ~ase i~~s~•~be, such eacPas ahal) tx~ credited on subseyuent pa~ments to be made bv the :Vlortga£;or for suc)i items or, e?t v[ortg~ee's option, a4 trustre, s}iall be refunded to Mortgegor. Ii~ ~ - however, such monthl~• pa~•ments shall not 1x• suffi~~ient to pa~ such iteins when the same ahall become due ~ ~ and pa~~able, then tl~c :1~IortRaRor shull pn~ to the :Vlott~ee, n.s trustee, an~ aii?ount. necessary to mske up ~-t _ the de~icien~}~. Such pa~ment shall be made within thirt.v (:i0) da~~x after wtitten notice trom the MortRa~ee t..a