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Home My WebLink About1619 • i, The Mortgagor hereby oovenanta with the Mortgagee, that be is indet ~eeised of `~ai:d Viand is fee simple os such other estate; J say as is stated herein; that he has f all power and le sw ul,rigbt to coovev the same as aforesaid; that the land u free ~rom all encumbrances except as herein otherwise recited; that eaidMortgagor ' wilt make such further assurances to prays the aforesaid tilde to said land in said Mortgagee as may be re~son- sb required, and that said Mortgagor does hereby f warrant the title to said land, and every part thereof, ~ will defend rho same against the lawful claims of aU persons whomsoever. ~ PreoviDSD ALwAY~ that it the Mortgagor shall pay unto the Mortgages that oeetain promissory note, of - ' which the Lollowiag is a substantial Dopy, to sit: ~ i 47,350.00 St.. Lucie Count ,I1°nda• August 13 ~ ~9 Fort VnLVS RacstvsD, the undersigned pranise(s) to pay b ~ a SUBURBAN COASTAL CORPORATION t~~, -t,J. , a corporation or ~nised and existing under the # 4wsof New Jersey- -,ororder,~P~pP~~~Forty-S$pEN THOUSAND THREE HUNDRED FIFTY b NO/100 47 350.00 froth ~ the rate at Ten P~ (10 p~ aaaum oa the unpaid baLaoe until paid. The said principal sad interest shall be payable at the office of Post Office Box 1328, Passaic, New Jersey 07055 is , or at such other place as the holder may designate in writing F delivered or availed to the debtor, in monthly installments of g o u r Hundred F i f t e e 7 ~ / Ii 0 Op°uars ' 415.7 3 eommenciag on the fast day ~ 0 ~ t o b e r , 19 7 9 , an~oontanuutg on the first dad of each month thereafter until this note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of t b ~ ~ 2 0 0 9 ~ Privilege is reserved to prepay at any time, without premium or fee. the enpbre mrdebtednees or any part ~ thetYOi act less than the amount of one instillment, of one huedred dollars (=1110.00), whichever is less. Prepayment in fug 3 shall be credited on the date received. PartW prepayment, other than oa an indallment due date, need not be credited until the neat followltq(indallment due date or thirty day: at'ter such prepayment, whIchrvet is eatlkr. Ii any deficiency in the pa t of any inatsllment under this note is not made good prior to the due date of the nest such instalLaent, the entii+e principal sum and accrued interest shall at once become due and pay- 4 able without notice at the option of the holder of this note. Failure to ezercise this option shall not oonstttute a waiver of the tight to eserctse the same in the event of say subsequent default. In the event of default in the - psyment of this note, and if the rime is collected by sn attorney at law, the undersigned hereby agree(s) to _ pay all coats of collection, including a reasonable attorney's fee. This note is secured by mortgage of even data executed by-the undersigned on oertaia property described therein, and represents money actually used for the acquisition of said property or the improvements thereon Presentment, protest, and notice are hereby waived. - s _ Lero Williams t ~uso~a~A• wiAl.i~1lYra? (sent.] Theresa A. Williams - ~~L~ ~~Ll And shall duly, promptly, and fully perform, discharge, execute, ellect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, sad eovenauts of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall Deese and be null and void. The Mortgagor further covenants as follows: = 1. That he will pay the indebtedness, as heteinbefore provided. Privilege is reserved to prepay at any time, without premium or fee, the Mire indebtedness or say part thereof not less than the amount of one installment, or one hundred dollars (:1.00), whichever is less. Prepayment in [all shall be credited on the. date received.. Partial prepayment, other than on an installment due date, need not be credited until the next following installment due date or thirty days after such prepayment, whichever is earlier. 2. 1n order more fully to protect the security of this mortgage, the Mortgagor, together with, and in addition to, the monthly payments under the terms of the note secured hereby, on the first day of each tnonth 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 sad payable on policaea of fire sad other hasard ituursace 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) less all sums slt~eady 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 sums to be held by Mortgageemtrusttopaysaidgroundrents,premiums,taxes,andspecialasseawnenta. (b) Tiu aggregate of the amounts pa able pursuant 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 fallowing items in the order stated (I) ground rents, taxes, aase~ssmenta, fire, and other hasard insurance premiums; (II) interest oa the note secured hereby; and (IIn amortisation of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the due date o[ the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mortggagor will pay a "late charge" rent exceeding four per centum (4%) of any install- ment when paid more thaw fifteen (15) days after the due date thereof to cover the extra expense involved in j handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale : cite made b satisfy the to ebtrdness secured hereby, unless such proceeds are sufficient to discharge the entire ~ indebtedness and ail propgr costa and expenses secured thereby. E..i, 3. If the total of the parrr~ents rriadc b,)• the Mortgagor under (a) of paragraph 2 preceding shall exceed ~ the amount of payments actually n?adc by the MortKaKer, as trustee, for ground rents, taxes and assessments, . and insurance ptrmiwns, as the case mar be, such excess shall be creditrd on subsequent psvlpnents Lo be made ~ - by the Mortgagor for such items or, at Mortgagee's option, a.4 trustee, shall be refunded to Mortgagor. If, however, such ~nont)dy payments shall not ix~ suffirient to pay surh items when the same shall become due ~ and pa -able, then the Mortgagor shall pay to the Mortgagee, as trrstee, am amount necessary to make up the deficiency. Such payment shall be made within thirty (:30) days after written notice from the Mortgagee ~ stating the amount of the deficiency, which notice may be given by mail. If at any time the Mortgagor shall L