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The Mortgagor henb~ covenants with the Mortgagee, that he is indetesaib~j seised of said Lad in fee
simpple oar such other estats~ d say sa is st~.t~ed herein; that he has full power and lawwiiul,rig6t to ooovev the same
as sloreeaid; that the land ~s fires ~t~om all encumbrances except as herein otherwise recated; that sard]tiiortgsgor
will make such further assunnoes to prase the doresaid title to said land in said Mortgagee u may be nason-
abl~ rreeqquired, sad that said Mortgagor does hereby i warrant the title to said land, and sveq part thereof,
sad will defend the same against the lawful claieos of~ persons whomsoever.
Fsiovtoso ALwsis that if the Mortgagor alialt pay Hato the Mortgages that certain promissory note, of
which the following is a aubatantial copy, to wit:
= 54,800.00 Ft. Pierce , Ftaid~
Septesbbr 4 ,1979
Foa V.LVS Rsconso, the undenigned promise(s) to P,Y ~
TtiB LO!!AS h Ns1'PI~P4N COItPAi!iY ~ a oorpo:atioa sad under ~
Iaws d the State of ConaeeticttiRor order, the principal sum of Fifty Four Thousand Sight
Haadred acid no/100 Ddlars (i 54,800.00 with interest from data at
the rate d Ten. per annum (10 Per annum ar the unpaid balance natil paid.
The said principal and interest shall be payable aX the office of TlIS LONAS & N81TI.BTON COMPANY
230 George Street
in New Raven, Connecticut, 06510 , or at such other plane as the holder may deeogaste in writing
delivered or mailed to the debtor, in monthly isatallments at Four Hundred Eighty One ~ 14/lOQ)o14rs
(:481.14 comraeacina ar the Brat day at Naveasbar , 19 79 ,and continuing on the . #
Brat a.~ of each month thereafter until thisnote is fa-Dy Pala, except that, if not sooner paid, the final payment
of princspal sad interest shall be due and payable on the first day of October, 200. i
priviltHe is reserved to prepay st any time, without premium or fen the entire indebtedness or any Part
thereof not lea than t>se amount of one inetiillment, or one huadeed dollars (=100.00), whiehtrer !s lea )'repayment ~ full ~
shall be credited oe tl~e daft reoeired. Iertiai psepaq?aaeat, other than on as installment due date, need not be eredified until j
the nest following iadaUment due date or thirty days after such p:eps<ymeat, whicberer is earlier. j
If say ~fieieney in the payment of any installment under this note is not made good prior to the due date j
of the nest such inatallmeat, the satin principal sum and accrued interest shall at once become due sad pay- j
able without notice at the option of the holder of this note. Failure to exercise this opption shall not constitute 1.
a waiver of the right to ezerrase the same in the event of any subsequent default. Ia the event of default in the
payment of this note, and if the same is collected by as attorney at Lw, the nnderaigned hereby agree() to
pay all costs of oollectaon, including a reasonable attorney's lee.
This note is eecared by mo:iya~e of even date executed by the undersigned on cereals property described
therein and represents money sc uauy used for the acquisition of said property or tbs improvements thereon. t
Pr+esennmeat, protest. sad notice are hereby waived. _
}
i
~g/ T. C~taadleae [gasL] ~
JOHN T. CHANDLER _
1a,~ A_ clm~ler -
LYNN A. CNANDL1iR
2
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And shall dnly, P~PCY, and ~ P~~, execute, effect, complete, and comply with and abide _
by each and every the stipulations, agreements, oonditions, sad covenants of said promissory note and of this
mortgage, then this mortgage and the estate hereby created ehaD cease sad be null and void.
The Mortgagor further oovea:ata as follows:
1. That Ix will pay the indebtedness, as benrinbefore provided. I'r'~v~l~eia naa~ved to P~?9 ~ arY Vie, ~
without premium or fee, the entire indebtedness. a say part thereof not leas the amount of are installment, or
one hundred do0aa (;100.00), whicherer is lest. Prepayment is fuII shall bt credited on the date receired. Partial
prepayment, other than oa an imtalhaeat due date, need not be tsedited unto tl~e neat f011ovrint installment due date or
thirty days after each prepayment; whicheeei is earlier.
2. In order more fully to protect the security of this mortgage, the Mortgagor, together with,~snd in
addition to, the monthly payments under the terms of the note secured hereby, on the first day of each month
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 r+e~ta, if say, nest due, plus the premiums that will next become due sad payable '
ar pdicies of fire sad other hazard insurance eoveruig the mortgaged property. plus taxes and assessments
nest due on the martgaged property (aD as estimated by the Mortgagee and of which the Mortgagor is ~
notiSed) less aD sums paid thtrdor divided by the number of months to before sae month
prior to the date when ground nrx~ta, premiums, taxes, and aseeasauents will Leoome delinquent,
each cams to be held by Mortgageemtrusttopsysardgramdrents,Premiums,taes,aadspecialaeaeesmenta.
(b) The aggregate of the amounts pa purau:nt to subparagraph (s) sad those payable ar the note secured
shill be paid in a eing~e
p~iymeat each marth, to be applied to the following items in the order
(n gcotmd rents, taxes, eta, fire, sad other haaard insurance premiums;
(II) interest ar the note secured hereby; sad
(Itn amartasstaan of the ~incipal of said note.
4
Any deficiency in the .mount of such aggregate monthly payment shall, unless made good by the Mortr t
gagor prpr to the due date of the next such payment, constitute an event of default under this mortgage. {
At Mortgagee's option, Morr wilt pay a "late chugs" not exceeding tour per centum (4°Jo) of any install- j
meat when ppaid more thaw !teen (15) days alter the due date thereof to Dover the extra expense involved in {
handlurg delinquent paym~eate, but such "late chugs" shall not be payable out of the proceeds of any sale
made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to dnycharge the entire ~
indebtedness and all proper costs and expenses secured thereby.
3. If the total of the pa37nents made by the Mortgagor under (a) of puagrapl~ 2 preceding shall exceed
the amount of payments actually ma,lP by t ~e Mortgagee, as trustee, for ground rents, taxes and assessments,
and insurance premiwus, as the case may be, such excess shall be credited on subsequent payments W be made
by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If,
however, such monthly payments shall not be sufficient to pay such items when the rime shall become due
and payable, then the Mortga{pv sisi~ a~Inirllt'10w~ ?ee, as trustee, anv amount necessary to make rep
the deficiency. Such pay-mertfalialfbF~iliA ) dn« after written notice from the Mortgagee i
stating the amount of the deficieacy,`vibiel°i notice may be given by mail. If at an the Mortgagor shalt
nR~~ ~ ,.,nr~VII