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Home My WebLink About1284 3 al ? T 2 ~ ~ The Mortgagor hereby oavensnts with the Mortgages, that he is indefeasibly ~iei:ed os esid' Iliad in foe ample or such other estats~ J any as is stated herein; that he has f ull power and lawwfful right to ooavev the entree ; as aforesaid; that true land >a Iroe ~rom sU enc ces except as harem otherwise recited; that asidlVloregagor will make wch further assurances to prove afo.•~esaid title to paid land in said yortgagee ss may be reaaoa- ab rreeqquired, and that said Mortgagor does hereby fully warran6 fibs title to said lead, and eveq part thereof, a~will defend the same against the lswfu~ claims of sU persons whocrsaever. PnoviASO AtwATa that If fhb hfortg r shall unto the Mortgages that certain promissory note, of 1 whi = the t ~ ' ~ is s substantial Dopy, Lo is - port S t . Lucie ,Florida. # - January 23 .19 80 . Foa VAivs Iiscsirsa, the undersigned Promise(s) to pay to S - i SUBURBAN COASTAL CORP. ~ a xp ~ sad ~ under ~ bws of gtats of New Jersey • °r °~et• ~e P~~PV °10' of SIXTY THREE THOUSAND FIVE HUNDRED AND nohPf00------------------------------Ddlars 63,500.00 with interest from date at tbs rate of ELEVEN & ONE -HALF per aatum (I 1.5 per aasum oa the unpaid balance until paid. Ths said principal and intei+eeit shall be payable at the office of - SUBURBAN COASTAL CORP. P. 0. Box 1328 - ! is Passai c, New Jersey , or st sueb other pleas as the homer ~~~to in writing delivered a aoailed to the 'debtor, in monthly inetallmente of SIX HUNDRED TWENTY Nt~ & X91100-Mars (i 629.29 commencing oa the 5rat day of March , 1980 ,sad continuing on the - first daj of each month thereafter until this note is fully paid, except Chet, d sot sooner paid, the final p?ymeat of principal and interest shall be due and payable on the first day of February 2Q1Q Privile4~e is reserved to prepay at any time, without premium or fee the satire indebtedness or any Pert thereof act less than the amount of one iadiflmeat, or one 6wideed doWis (=100.00), whicheve: isle's.1!tepsymeiit is Atli dull be credited on -the date received. Partid pieps<yment, other rhea on an io:allment due date, need not be a~edited untU the nett following insWlmeut due date or thirty days athr such pt+epsymeat, whichever is earlkr. ff aqy deficiency in the pa eat of any i~talhnent under tLi~s note is not made good prioLto the due date - of the nerd such installment, the entire principal sum and accrued interest shall at once become due and paw able without notice at the option of the Colder of this note. Failure to esercise this option shall-not constitute a waiver of the right to esercise the same in the event of any subsequent default: In the went of default in the payment of this note, and if the same is collected by an attorney at Lw, the nnderaigned hereby agree(s) to pay all costs of collection, including t reasonable attorney's fee. - Thisnote is secured by mortgage of even date executed by the undersigned on certain m described' therein sad represents money actu~alllty used for the acquisition of said property or the imprpovem~eats thereon. - Presentment, protest, and notice are hereby waived. _ to L n - ~ STEPHEN LEKIS CNA . - - (ssst.~ _ - - And shall duly, P~?P~Y, end ~ P~~, ~h~. execute, e5ect, complete, sad comply with sad abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of this _ mortgage, then this mortgage and the estate hereby crested shall Deese and be nnll and void: 3 The Mortgagor further covenants as follows: - - ' 1. That he will pay the indebtedness, as hereinbefon provided. Pririis reserved to P~?Y ~ ~Y Vie, without premium or fee, the satire indebtedness or any part thereof not less the amount of one installment, or one hundred dollars (3100.00), whichever is less. Prepayment in full sh311. be credited on the date received. Partial prepayment, other than on an installment due date, Deed not be credited until the nett following installment due date or thirty days after such prepayment, whichever is earlier. - 2. In o.der more fully to protEi;~ the security of this mortgage, the Mortgagor, together with, and rn addition to, the monthly pay-rnenta 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 sums: (a) A sum equal to the ground rents, if any, nert due, plus the premiums that will nest become due and payable - - ; on policies of fire sad other hazard insurance covering the mortgaged property. Plus rases and aswasmenta aert due on the mortgaged Property (all as estimated by the Mortgagee and of which the Mortgagor is - - notified) less all sums already paid ther+dor divided by the number of months to before one month prior to the date when ouch ground rents, premiums, taxes, and aesmsmsats beeomc delinquent, - - such sums to be held by Mortgageeintrusttopaysaidgroundreata,premiwns,tsu~ea,andspecaalas+seeameata. (b) The aggr+egute of the amounts.payable pursuant to aubpsragraph (a) and those payable on the note secured - shall be d in a ~~innggllee teach roan to be a led to the f~lovr items is the order ~ 1 ~eteby, Pri paymen th; PPI~ ~ l Cat_ ed(~: ~d Hats, lases, swats, fin, sad other haaard insurance premiums; - (II) interest oa the note serair+ed herby; sad (III) amortisation of the principal of said cote. Any deficiency in the amount at such aggregate monthly payment shall, -unless made good by the Mort- gagor prior to the due date of the next such payment, constitute sn event of default under this mortgage. ~ l1t Mortgagee's option, Mortgagor will pays "late charge" not exceeding four per centum (4°Jo~ of any install- went when paid more than Sheen (15) days after the due date thereof to Dover the extra expense involved in handling delinquent payymenu, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the.indebtednPes secured hereby, unless such proceeds are sufficient to discharge the entice MPm indebtedness and all .proper costa and expenses secured theireby. „a 3. Ii t.:~ total of the pa~~nents made b''- the Mortgagor under (a) of paragraph 2 preceding shall exceed T the amount of payments actually madr by tl1e Mort~ee, as truster, for ground rents, taxes and assessments, and insurance premiums, as the`casP uiay 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. If, however, such monthly payments shall not be sufficient to pay suchatemg;~rtie~ihe sane shall become due and pa able, then the Mortgagor shall pay to the Mortgagee, as truttre, and amount ~;ecesssry to make rep ~ the deficiency. Such payment shall be wade within thirty (30) der}•s after written notice from the Mortgagee stating the amount of the deficiency, which notice maq be given by mail If st any time the Mortgagor shall