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The Mortgagor hereby covenants with the Mortgagee, that he is indefeasibly seised of said land in fes
simple or such other estates ri any~as is stated herein; that he has toll power and lawful right to ooAVev the same
sa aforesaid; that the land >a free mall encumbrances except as herein otherwise recited; that said~ulortgagor
will make such further asauranoes to prove We aforesaid title to said land in said Mortgagee as ma be reason-
ab~y required, and that said Mortgagor close hereby fully warrant the title to said land, sad every part thereof
sad will defend the same against the lawful claims of all persona whomsoever.
PaOVIDED ALNAYa that if the leiortgagor shall pay unto the Mortgagee that certain promissory note, of
which the following ie a substantial copy, to wit:
i 35,500.00 Ft. Pierce , Florida.
November 14 , i9 79 ,
Fos vaivs Rscsrvsn, the undersigned promise(s) to pryr to The Lomas & Nettl eton Company, a
Connecticut corporation, with principal place of business at 230 George St.,
New Haven, Connecticut 06510
, a corporation organised and e~usling under the
bws of The State of Connecticut, or order, the principal sum of Thirty five thousand five
hundred and No/100----------------------~Doilars (135,500.00 with interest from date at
the rate of Eleven and one half per cerium (11.5Q~o) P~ ~ the unpaid b:laace until paid.
The said principal and interest shall be payable at the ofSce of The Lomas & Nettleton Company, 230
George St., New Haven, Connecticut 06510
~ Connecticut , or at such other place as the holder may de~~te in writing
delivered or mailed to the debtor, in monthly installments of Three hundred fifty one & 81 /100 Dolla~,e
351.81 caommencing on the first day of January , 1980 ,sad continuing oa the
first day of each month thereafter until this note is fully paid, except that, ii not sooner paid, the final payment
of principal and interest shall be due and payable on the first day of December ,2009
Privilege is reserved to prepay at any time, without premium or fee. the entire indebtedness or any part
thereof not leas than the amount of one installment, or one hundred doUus (#100.00), whichever is less. Repayment In full
shall be credited oa the date received. Rutial prepayment, other than on an installment due date, need not be credited until
the next foliowiag indallment due date or thirty days after sudr prepayment, whichever k earlier.
If any deficiency in the payment of any installment under this Hots is not made good prior to the due date
of the next such installment, the entire prurcrpal sum and accrued interest shall at once become due and pay-
able without notice st the option of the holder of this note. Failure to exercise this option shall not oonstrtute
a waiver of the right to exercise 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 sn attorney at law, the undersigned hereby agree(s) to
pay all costa of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even data executed by the undersigned on certain property described
therein and represents money seta y used for the acquisition of sand property or the improvements thereon.
Presentment, protest, and notice, are hereby waived.
/s/ Henr~r T. Abercrombie
[mil
et~nry Abercrombie
/s/ Marjorie M. Abercrombie
Marjorie M. Abercrombie
tom]
[t38AL)
And shall duly, promptly, and fully perform, discharge, execute, effect, complete, and comply with and abide
by each and every the stipulations, agreements, conditions, and covenants of said gromiesory 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 he will pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time,
without premium or fee, the entire indebtedness or any part thereof not teas then the amount of one installment, or
one hundred dollars (;100.00), whichever is less. Prepayment is 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. 1n 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 terns of this trust as herein-
a[ter stated) the following sums:
(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable
on polic3ea of fire sad other hasard insurance 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 already pard therefor divided by the number of months to elapse before one month
prior to the date when such ground rents, premiums, taxes, and sesessraents will become delinquent,
such sums to be held by Mortgageeiatruattopaysaidgroundrents,premiums,taxea,and
(b) The aggregate of the amounts pa able specialassessmenta.
h pursuant to subparagraph (a) and those payable on the note secured
ereby, shall be paid in a einele payment each month, to be applied to the following items in the order
stated
m ground rents, to:es, saeeasmeats, fire, sad other hasard insurance premiums;
(In interest on the note secured hereby; sad
(IIn amortisation of the principal of Said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mortr
gsgor prjor to the due date o[ the next such payment, constitute an event of default under this mortgage. ~
At Mortgagee's option, Mortgagor will pay a "late clrsrge" not exceeding four per cerium (4°Jo) of any install-
went when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in
handling delinquent pay menu, 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 are sufficient to discharge the entire
indebtedness and all proper costs and expenses secured thereby.
3. if the total of the payments made b,• the Mortgagor under (a) of paragraph 2 preceding shall exceed
the amount of payments actually made b.• the :Mortgagee, as trustee, for ground rents, taxes and aagesaments, y
and insurance premiwiis, as the case may be, such excess shall be credited on subsequent payments to be made ~
by the Mortgagor for such sterns or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, ~i
however, such monthly payments shall not he suf~irient to pay such items when the same shall become due ~
and pa~•able, then the Mortgagor shall pay to the MortgaKee, as trustee, any amount necessary to make up M,.>•
the de ciency. Such payment shall be made within thirty (:30) days after written notice from the Mortgagee ~ ~
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