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The Mortgagor hereby oovenaats with the Mortgagee, that he is indoteasibly seined of 'said land in fes
maple or such other estatsr d any as is stated herein; that he Las Tull liuivar and lswwiful right to oo>zvev the ai?me
as aforesaid; that the land is tree ~rom all eneumbranaes except as herein otherwise recited; that eaid~Viortgagor
will make such further assurances to prove the aforesaid title to said land is said Mortgagee ss may be reason-
ab1~ rreeqquired, and that said Mortgagor does hereby fully_ warrant the tit1~ to said Isnd, and every part thereot,
sad will defend the same against the Lwful claims of au persons whomsoever.
FaOYIDED ALwAVa that if the Mortgagor shall pay unto the Mortgagee flat certain promissory note, of
which the following is a substantial oogy, to wit:
=47,500.00 Ft. Pierce ,Florid:.
October 5 ifi 79 .
Fos Viuvs ItscsivsD, the uaderaigtied promise(s) to pay to The Lomas & Nettl eton Company, a
Connecticut corporation, with principal place of.,l~t~,~,ne~s~~ rge St.,
New Haven, Connecticut 06510 ,
1 sad entering under the
,a
lws of The State of Connecticut, or order, the principal sum of For ~~v~' 1~~five
hundred and no/100-----------------------dollars (847,500:00~''~~3~ wrisis#iym date at
the rated Ten and one half per «sztuta ( i 0~ Pw an ~ unpaid belpifce until paid.
The said princips?1 and interest shall be payable st the og'ice of The Lomas & Nettl etOn Company, 230
George St., New'Haven., Connecticut vo510
in COnnecti Cut , or at such other pleas as the holder may designate in writing
delivered or mailed to the debtor, in monthly installments of Four hundred thirt3• four 63/100Do11ars
434.63 commencing on the first day ~ December , 19 79 ,and ooatiauing oa the
Brat day oi•each month thereafter until this note is fully paid, except that, if not sooner paid, the Snal payment
of principal and interest shall be due and payable on the first day of November .2009 .
. Privilege is reserved to• prepay at any time, without premium or fee. the entire indebtedness or any part
thereof not less than the amount of one Installment, or one hundred dollar (;100.00), whichever ~ less. hepayment in full
shall be credited on the date rpeeived. Partial prepayment, other than oa as irutallnieat due date, need not be credited until
the nett following indallmerit due date or thirty days after such prepayment, whichever I; earlier.
if any deficiency in the payment of any instaWnent under this note is not made good prior to the due date
of the nett such installment, , e entire principal sum and accrued interest shall at once become due and pay-
able without notice at the optwn of the holder of :his note. Failure to exercise this option shall not oonstatute
a waiver of the right to e:erciae the same in the event of any subsequent default. In the event of default in the
payment of this note, and if the rime is collected 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 data esecuted by the nnderaigned 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.
_ $art R_ Zarcone [gg~L]
Bart R. Zarcone
ra i 1 J _ Zarc~I~ [88AL]
Gail J. Zarcone
[sal
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And shall duly, promptly, and fully perform, discharge, execute, .effect, complete, and comply with and abide
by each and ever}? the stipulations, 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 sad void.
The Mortgagor further covenants as follows:
1. That he will pay the indebtedness, as hereiabefore provided. Privilege is reserved to ProPay ~ any Vie,
without premium or fee, the entire indebtedness or say part thereof not less than the amount of one installment, or
one hundred dollars (it100.00), whichever is less. Prepayment in full shall be credited on the date teceived. Partial
prepayment, other than on an installment due date, need not be credited until the nett following installment due date or
thirty days after such prepayment, whicheveris earlier.
2. In 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 month
until tits said note is fully paid, will pay to the Mortgagee, ss 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 and payable
on policies of fire and other hasard insurance coveruig the mortgaged property plus taxes and assessments
nett due on the mortgaged property (all sa estimated by the Mortgagee aa~ of which the Mortgagor is
notified) less all soma already paid therefor divided by the number of months to eta before one month
prior to the date when such ground rents, premiums, taxes, and assessments will become delinquent,
such sumsto be held by Mortgageeintniattopaysaidgroundr+ents,premiums,taxea,andspecialassessmenta.
(b) The aggregate of the amounts.payable pursuant to subparagraph (s) ar?d those payable on the note secured
her
reby, shall be paid in a eem~glee payment each month, to be applied to the following items in the order
stated
(n ground r+eafis, taxes, assessments, fire, sad other hasard insurance premiums;
(II) interest on the note secured hereby; sad
(III) amortisation of the principal of said note. _
Any deficiency in the amount of such aggreg to monthly payment shall, unless made good by the Mort-
gagor prior to the due date ~f the next such payment, constitute an event of default under this mortgaagge~.
At Mortgagee's option, Mortgagor will pay a "late charge"not exceeding four per centum (4%) of any install- do
went when paid more than fifteen (15) days after the due date thereof to Dover the extra expense involved in ;{~r
handling delinquent pa menu, but such "late charge" shat! not be payable out of the proceeds of any sale ~
made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to duicLarge the entire i..s•
indebtedness and sU proper costs and expenses secured thereby.
3. If the total of the pa3-inents made b~)• the Mortgagor under (a) of paragrap)? 2 preceding shall exceed .b
the amount of payments actually made by t)le Mortgagor, as trustee, for ground rents, taxes and assessments,
and insurance premiums, as the case may be, such excess shall be credited on subsequent payments to be made
by the Mortgagor for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. It,
however, such niontlily payments shall not be sufficient to pay such items when the same shall become due
and pa able, then tits Mortgagor shall pay to tine Mortgagee, as trustee, and amount necessary to make up
the def cienep. Such payment shall be made within thiftV`(:3~~dsvs after written notice firm the Mortgagee
- stating the amount of the deficiency, which notice may bs given by mail. If at any time the Mortgagor shall