HomeMy WebLinkAbout0983 The Mortgagor hereby oovensnla with the M that he is indef seised of eats is fes
ttim le or such other estates it aqy as it stated herein; that a bas full power sad lawful right to convey the same
ar aforesaid; that the land to free ~rom all eacumbranoes except as herein otherwise recited; that aaid~ortgagor
will make such furtt?er aauranoea to prove the afot~esaid title to said land in said Mortgagee as ~ be reaeo~
ab requieed, and tht?t said Mortgagor does hereby fly warrant t<~e tide to said laud, and every part thsr+eof,
wilt defend the same agaiasri the Lwful olainnu of sJl pereo• a whonae'aeve~r. _ ~
P>ROVrasa ALwais that if the Mortgagor shall pay unto fcbe Mortgages that oeetain prcawxiory note, of
wb~ich the iolbMring is a substantial coPJ, ~ wit:
= 69, 500.00 1• ort Pierce , Mme. ~
SDb,tember 21, ,1p 7g.
Fo>z Yerus Rscainsv, the underatgned promise(s) to pa~? i~ .
THE LOMAS AND NETTLETON C01dPANY ~
, a oorporatiaa organised sad e~stiog under the
bwa at -Connecticut , or order, the principal sum of sixty-nine. thousand five
hundred and no/100"`-`~~~`^~w~.www ( 9 500.40 "r'~'nte:+mt fr'°m date at
the rate of ten per centum (10 p~r aasum as the unpaid bsLnoe until paid.
The said principal and interest shall be payable st the oboe of
Lomas and Nettleton Company
230 George Street p~ ~ ~ holder may deeigrate in writing
~ NeW Havtrn CQnth 06510 ~ °i at s"~
delivered or mailed'to the debtor, m monthbr instalhnents of Six hundred ten and 2l/100~m
610.21 commencing an the first dry of November , lp?9 , sad continuing ~ the
first dry of each month thereafter until tbia note is fully paid, except that, if not sooner paid, the final payment ~
of principal and interest shall be due and payable on the fast day of -
Privilt~e is reserved to prepay at say time, without premiuan or fe0e~thebent
re indebtedness
o0ic0agay Part
thereof not lea than the amount of one imtillment, or one hundred dollars (=100.00), whichever b kas. t is tuU -
dull ba credited ou the date received. Psrtid prepayment, other than on an installment due date, need act be credited until -
the ae:t toaowing-in:taltmeat due date or thirty days att~ such prepayment, whkherer is earlkr.
If any deficienay in the payment of aqy installment under this note is not made good prior to the due dale
of the next such installments a entire rincipal sum and accrued interest shall at once become due and paw
able without notice at the option of the holder of this note. Failure to exercise this option shall not constitute
a waiver of the right to ezercise the same in the event of any subsequent default. In the event of deisult in the
payment of this note, and if the same is oolleeted by an attorney at law, the undersigned hereby agree(s) to
pay all costs of collection; including a reasonable attorney's fee. -
This note is secured by mortgage of even date executed by the undersigned on certain property described
therein and represents money actu y used for the acquisition of said property or the improvements thereon.
Presentment, protest, .sad notice are hereby waived. _
- - /s/ Henri Alcide Lucien deCharmont,_~~~
Jr. -
-/s/ Lorrinda C. deCharmont
[mil
And shall duly, promptly, and fully perform, discharge, execute, street, complete, and comply with and abide
by each and ever~? the stiputationa, agreements, conditions, and covenants of Said promissory note and of this
mortgage, then this mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants as follows:
1. That be will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay M say time,
without premium or fee, the entire indebtedness or any part thereof not less than the amount of one iaststlmeat, or
one hundred dollars (;100.00), whichever is less. Prepayment in full 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. 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-
afterstated) the following scans:
(a) 4 sum ec)ual to the ground r+eats, if say, next due, plus the premiums that will next become due and payable
on pohcies of fire and other haaard insurance covering the mortgaged Pr'oP~Y, Plus to:es and assessments
next due on the mortgaged property (all sa estimated by the Mortgagee and of which the Mortgagor is
notified) less all sums already paid therefor divided by the number of months tc before one month
prior to the date when such ground recta, premiums, taxes, and assessments become delinquent,
such sums to be held by Mortgageeintrusttopaysaidgroundr+eats,premiums,tsxea,aadspeciatsssesamenta.
(b) The aggc+egate of the amounts pa le pure~rant to subparagraph (s) and those psyab~ on t-he note secured
shalt be paid is s payment each month, to be applied to the following items in the order
m ground r+enta, taus, aasessaieats, fire, and other hazard insurance premiums;
(In interest ea the note secured hereby; sad
(Im amortuatian of the principal of acid note.
Any deficiency in the amount of such aggregate monthly payment shalt, unless made good by the Mort-
gagor prior to the due date of the next such payment, constitute as event of default under this mortrtggaagge.
At Mortgagee's option, *~fo r will pay a "late charge" not exceeding four pas centum (4aJo) of any iasta~l-
ment when paid more than Sheen (15) days alter the due date thereof to cover the extra expense involved in o~
handling delinquent psymenu, but such "Isle charge" shall not i>e payable out of the proceeds of sny sale
made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire ~
indebtedness and all proper costs sad expenses secured thereby. ~
3. If the total of the pa~-inents made b,,- the Mortgagor under (s.) of paragrapl? 2 preceding shall exceed
the amount of payments actually made by ti,e Mortgagee, as trustee, for ground rents, taxes and assessments, „o
and insurance premiums, as the case may be, such excess shall be credited on subsequent payments Lo be made
by the Mortgagor for such items or, at. Mortgagee's option, as trustee, shall be refunded to Mortgagor. lf,
however, such niontlily payments shall not be sufficient to par such items when the same shall become due
and pa sable, then the Mortgagor shall pay to the Mortgagee, ns trustee, am amount necessary to make up
the de~ciency. Such payment shall be niude within thirty (:30) da~~a after written notice from the Mortgagee
stating the amount of the deficiency, which notice rosy be given by mail. If at sny time the Mort~eaeor shall ~