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Home My WebLink About2806 `i ~ . Ths Mortgagor hereby coveaanta wltdtths `lvfort '~~t !m is indefessib~ seised of slid lead is fee ' or such other artater tf aqy ss is stated hi~bia; thi full power sad a ul right to oonvev the same ere aTiraaid; that the land u irss ~roia av eneuaabrwces exdept a herein otI?erwise reviled; that erid~iortgagor will make such further assuraaoes to prove the aforesaid titer b said lead in acid Mortgages ere may be reaao~ _ ! required, sad that said Mortgagor does hereby iul~ warrant the title to said land, and eveq part thereof, wilt defend the same against the lawful claims d pecsoas whomsoever. - Psw11IDiD ALNAVa that if the Mortgagor aLall_ ps, Hato the Mortgage0 that oertaiII promissoq note, Of which the lol;owiag r a substantial Dopy. tD wit: - - _ 37'000.00 ~ - Octobee 26 ~ ~~?9: Q~~ Post `/i?LVS 1~r~, the uadur+eiped protai~e(s) to par to SUBURBAIt .COASTAL CORP. Jersey a ~ ~ the - laws at the State of -NeM oe order, the sum of Thirty Seven Thousand and 00/100 +F e # * (i 3?,000. with iatered from date at the rate o[ $lever Bad one half pee ventum (11:596) per annum on the unpaid baLnoe until paid. T'bE said principal and interesR shall be payable at the owe of C 1~ CORP. P`0. Box 1328 ~ - _ in as s i C eM ~Je`rs a -07055 • a'~ other pla°e as th° holder °°ay d°s~ate i° `rntin6 delivered or mailed to the dcbtoyr, m monthly installnnents of Three Hundred Sixty Six do Dollars 67/ 366.67 ~~~g ~ ~ ~ ofDecember , iP79 , oontiauing ~ ~ 100 fast day of each anonth thereafter until this note is fully paid, exvept that, if not sooner paid 9 ~ past ~ of principal sad interest shall be due and payable nn the first day o~ Iiovetnber 20b `tL. 1 f Privilege is reserved to prepay at any time. without premium or fee. the entire indebtedness or any part tbeeeoi not less tbas tee amount of one imtallment, or one hundred doilan (=100.00), whicherer is less. hapayment In lull :ball be credited oa the date rsceived.l!artita prepayment, other than on an installment due date, need not be eeedited until the nest fo8owlad ia:wllmeat due date or thirty days after sacs prepayment, whk6rMer is earlier. . Ii any deficiency in the pay-meat of any iffitallment under this note is not made good prior to the due date of the next such installment, the entire pal sum and accrued interest shall at once .become due sad Pay- able without notice at the option of the lder of this note. Failure to exercise this opption shall not ooneatute a waiver of the right to exercise the same is the event of any subsequent default. In the event ofbdetault in the payment of this note, and if the same is collected by an attorney at law, the underagned ere y agree(s) to pay all costs of collection, including a reasonable attorney's fee. Thus note is secured by mortgage of even date executed by the undersigned on ee~ttain 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. - ~ - 1 RICHARD i ~ • ~ [sasL~ - JOY , „h~.e1M~ ~,w~ewwt~~ - [~l - _ w sue'" - [mil And ahaD duly, P~P~Y, and ~ per[orm, discharge, execute, effect; complete, and comply with and abide ~ ! by each and ever}r the aLpulstions, agreements, eonditiaas, sad oovenaats 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 ss foUows: - - 4 1. That.he will pay the indebtedness, as her+einbefore provided. Privilege is reserved to Prepay at any time, k without premium or fee, the entire indebtedness or say part thereof not leas thaq the amount of sae installment, or one hundred doUaes (;100.00), whichever is teas. Prepayment in full :ball be credited on the date Te-dived. Partial prepayment, other than on an installment due date, need not be credited until the next foUowin= instalUnent due date or thirty days after such prepayment, wbicbe~rer is 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 o[ each month until the said note is fully paid, will pay to the Mortgagee, as trustee, (under the terms o[ this trust as herein- after stated} the following awns: - (a) A sum equal to the ground rests, if any, next due, plus the premiums that will nert bevome due sad payable on policies of fire and other hasard insurance oovermg the mortgaged property Plus taxes sad asaessTnenta nett due oa the mortgaged property (aU as estimated by the Mortgagee an~ of which the Mortgagor is notiSed) less all snma alrad~ paid therefor divided by the number of months to before one month prior to the date when- ouch ground rents, premiums, taxes, sad aaeessaneats will beoou:e delinquent, such same to be held by Mortgageemtcuattopsyeaidgrouadr+eats,premiums,ta:es,sadapecialaseeaemeats. (b) The agp+gate aE the amounts payable purnuaat to subparaarsph (a) and thaee ppaa~~yyssbble oa the note aec~:red ~ hereby, shall be psrd in a angle payment rach month, to be applied to the fsllowu~g items in the order stated av r+ea aasesementa, fire, sad other hasard insurance premium'; ~ m ~ ~ ~ (In interest on the note secured hereby: sad ` - (III) amortisation of the principal of said note. ~c~r Any-deficiency in the amount of such aggregate monthly Payment shall, unless made good by the Mores _ -G~ gsgor prpr to the due date of.the next such payment, coast~tute an event of default under this mortgage_ 1i~~7 At Mortgagee's option, Mortgagor will pay a "late charge" not ezceediag four per centum (4°Ja) of say ins ~ ?Pa meat when ps~d more than Sftcen (15) days otter the due date thereof to cover rho extra expense involved in oo .e handling delinquent pa nts, but such "late charge" shall not be payable oat of the proceeds of any sale made W satisfy the m ebtedness secured hereby, unless such proceeds are sull'icient W discharge the entire ~ indebtedness sad sU proper costs and expenses secured thereby. h'i 3. If the total of tl~e pa~-~nents made b,)• the Mortgagor under (a) of paragcapl~ 2 preceding shall exceed the amount of payments actually mule by rile MortKagee, as trustee, for grour~d rents, taxes and 8aseasmente, ~ and insurance premiums,-as the case may be, such excess shall be. credited on subs~gggeflt Daymenta to be made by the Mort r for such items or, at Mortgagee s option, as trustee, shall lie Uu~ded ~o Mortgagor. If, however, sac monthly naymenta shall not be a~t fficient to pay such items when the same shell become due and pa able, then the Mortgagor shall pay to tt1e Mortgagee, as trustee, any amount necessary W make rep ~ r - the deficiency. Such payment shell be made within thirty (.30) diva after written notice from the Mortgagee t~ stating the amount of the deficiency, which notice may be given by mail. Ii aG say tarns the Mortgagor shall