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The Mortgagor hereby covenants with the Mortgagee, that he is iudeteaaibt, seised of said land in !ee
itmple or such other estates ~ any a9 is stated herein; that he hsa f all power and lsww[[ul.right to ooovev the same
as aforesaid; that the land m free from all encumbrances except sa herein otherwise recited; that ssidlVlortgagor
will make such fur'~ar assurances to prove the aforesaid title to said land is said Mortgagee ae may be reason-
ab~y rreeqquired, and that said Mortgagor does hereby fullyy warrant the title to said h?nd, and every past thereof,
and will defend the seeps against the lawful define of all persons whomsoever.
Paoviasa ALwATa that if the Mortgagor shall pay Hato th+s ?dortgages that certain promissory note, of
which the following is s substantial Dopy, to wit: _ -
i 36,500.00 Fort Pierce
September 28 .1p79 .
Foa Vwuvs Racsivsn, the underai®aed promise(s) to pay to
TRS LOMAS 6 NSTTLETON COI~ANY
- , s corporation organised and azsting under the s
bwa o[ the State of Connecticut; or order, the P~aP~ aunn of Thirty Six Thousand Five Hundred
and no / 100-------------------------------~~ (i 36, 500.00 with interest from date at
the rate of Ten and One Half Per centum (10.5%) Pte' ~ the ~P~ balance P~•
The said principal end interest shall be payab~ at the of5oe of The Lomas & Nettleton Company,
230 George Street
in New Haven, .Connecticut 06510 , or st such other pLce~as the holder rosy dee~ate ' ~!t~ins
delivered or mailed to the debtor, in monthly installments of Three Hundred Thirty Three ~ 98~ IIoIIsrs
333.98 commencing on the first day of November- , 19 79 ,sad ooatinuing as the
fimt day of each month thereafter until this note is fully paid, acept that, if not sooner paid, the final payment ~
of principal and interest shall be due and payable on the first day of October - 2009•
Privilege is reserved to prepay at say time, without premium or fee.-the entire indebtedness or any part }
thereof not leas than the amount of one indiUment, or one hundred doWrs (=100.00), whichever is leas. hepayment in full ~
shall be credited on the date received. Partial Prepayment, other thau on an huWlnaent due date, need not be credited untll #
the next idlowinr indallment due date or thirty days alter such prepayment, whichever is earlier.
If any deficiency in the pa t of any i~tallment under this note is not made good prior to the due date
of the nezt such installment, .the entire princtpsl sum and accrued interest shell at once become due and ~ay-
able without notice st the optaon of the holder of th~a note. Failure to esercise this option shall not oonstztute
s waiver of the right to ezercise the same in the event of any subsequent default. In the event of default in the
payment of this note, and if the same is collected by an attorney st Lw, the undersigned hereby agree(s) to
pay ell costs of collection, including a reasonable attorney's fee.
This note m 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 thereon. -
Presentment, protest, and notice are hereby waived. .
s MicheO a Stoll [~L;
- htICIiEL~ STOLL ~ .
_ [gent,]
[gent.]
And Shall duly, promptly, and fully perform, discharge, execute, effect, complete, sad comply with and abide
by each and every the stipulations, agreemeata, conditions, and covenants of said promissory note and of this
mortgage, they this mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants as follows: -
I. That he will pay the indebtedness, ss hereinbefore provided. Privilege is reserved to Prepay at any time,
-without premium or fee, the entire indebtedness or any pert thereof not less than the amount of one installment, 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 drys after inch prepayment, whichever is earlier.
2. In order more fully to protect the security of this nortgage, 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 ills said note is fully paid, will pay to the Mortgagee, as trustee, (under the terms of this trust as herein-
- alter stated) the following awns: - - _
(s) A sum equal to the ground recta, if any, next due, plus the premiums that will next become due and payable
on policies of fire and other hasard inaunsace covering the mortgaged property, plus taxes and assessments
next due as the mortgaged property (all as estimated by the Mortgagee and of which the Mortgagor is
noticed) less all sums alreaiy 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 Mortgageeintniattopaysaidgroundrents,premiums,taxes,andspecialasseasments.
(b) The aggregate of the amounts payable pursuant to ~bpaiagraph (a) and those payable on the note secured
hereby] shall be paid in a single Payment each month, to be applied to the fallowing it~ema in the order
(n gramd rents, tares, assessments, fire, and other hassrd insurance premiums;
(II) interest on the note secured benby; sad
(im amortisation of the principal of said note.
Any.deficiency in the amount of such aggregate monthly payment shall, unless made good by t-he Mort-
gagor prior to the due date o[ the next such payment, constitute sn event of default under this mortgage.
At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4°Jo) of any install-g _
R meat when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in,K,~
~ handling delinquent pa meats, but such "late charge" shall not be payable out of the proceeds of any sale ~
made to satisfy the indebtedness secured hereby, unless such proceeds ere sufficient to discharge the entire `,,,.L
indebtedness end aU proper costs and expenses secured thereby.
3. If the total of the payments made i~,,- the Mortgagor under (a) of paragraph 2 preceding shall ex
the amount of payments actually niarle by file Mortgagee, as trustee, for ground rents, taxes and assessments
end insurance premiums, as the caxe niay be, such excess shall be credited on subsequent payments W be mad
by the Mortgagor for such items or, at. Mortgagee's option, as trustee, shall be refunded to IlSorcgagor. If,~"~
hawever, such »iontldy payments shall not lk sufitic•ient to ~i• such items when the same shall become due
and pa able, then the Mortgagor shall pay to the Mortgagee, as trustee, any amount necessary to make up
i the deficiency. Such pa}-meat shall be made within thirty (30) ds~•s after written notice from the Mortgagee
stating the amount of the deficiency, which notice may be given by mail. If at aay_ time the Mortgagor shall