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Home My WebLink About2821 ~ _ 'rh. Mortgagor hereby covenants with the M that 6e inlet ~ asid. a tee ~ of such other estates J W ils a stated bee+sino t6a~ I?e has full power and lawitMtio ooo~n~~~s~me r ite~raaid; tlu?t the land ~s tree from all encumbraaoea except as herein otherwise reexted; that cud will make such fus~the~ aesurasloea to prove the afos+eeaid title to aul Isad is said Mortgagee v may beai+eaa- rr~~qquis~sd, sad that said Mostsegoe doss 6erabj i warrant the title to aid land, and s~ery part thereof, wild defend tl5s sasos agai~t the Lw[ul cLioss ot~ persons whomsoever. Pso~wsa ALw~tii that it the Mortgagor .hall pay Hato the Mort~sges that certain promi.sory Hots, of _ which the tolbwiog is • substantial copy, to wiR i 33,500.00 - - Ft. Pierce ~ p~~, January 30 ,19 80 . Pbie Vises iiaamraq the imdee+siped p:rimise(i) to pay to SUBURBAN COASTAL CORP. _ ; a oorposatioa osganiaed sad slanting Hader the ~ laws of New Jersey , a osder,~he pnnaipel rum d THIRTY THREE THOUSAND FIVE HUNDRED AND NO/100-----------------------ms's (=33,500.00 from dam ~ the rate at Eleven and--one half P~ (11.596) P~ a? ~ ~P~ ~a~ Pte. The said psi~ncipal asd intesest ~ be p4yabie at the o8ioe a[ Suburban Coastal Corp., P. 4, box 1328, _ Passaic, New Jersey 07055 - is New Jersey , o: at each other place ae the boklec rosy deeypoate in writing deliend or mailed to the debtor, in saonehly installments of Three hundred thirty one A 99(lt~lan (i 331.99 commencing ~ ~ firer of _ March , 1e80 . sad oontinuuig ~ ~ stet day of each month thereafter ants this Hots is iuDy pain. tht, ii not sooner paid, the Sna1 payment of priacspal and intesest shall be t'os, and payable on-the fist day of Februar~? , 2010. Pri~iiege is reserved to prepay st any time, without premium os tee. the entu!e indebtedness or any part t1sMlOL set 1lss thsa the amount of ooe ledagosent, of ooe hundred doWss (=lOO.OO~, wllkbwli ~ 1!!6 t Ie tr1II - _ shall be tieditld Oil the date teoebed. Psrtisl plus Other than oit an t due dace. need sot be ereditsd until the neict foIIOwiiq is~sta0aient due date or Chitty days after such psepgyment, whkherer i<eatiier. Ii any defuxency in the pa t of any iffitallment under this note is not made good prior to the due date of the neat suehznstallment, the entire pnmcipal sum and accrued interest shall at -once become due and ~ - sble withontnotice atthe option of the Colder of this note. Failnra to ezercia this option shall rot eonetatute a waiver of the right to eaet+cise the ame in the event of say subsequent default. In the event of datault in the - payment of this note, and if the same ie collected by an attorney- at Lw, the undersigned hereby egres(s) to ply all costs of collection, including a reasonable attorney's fee. 'This note is warred by gage of even date executed by tLe undersigned on certain property deeeribed therein and represents moneynuiM t~ualty used for the acquisition of said pmpert~y oi• the impa+ove~ments thereon. Presentment, protest. sad notice are hereby waived. /Sf Raymond A. Bushby - Raymond A. 8ushby - /S/A b na K. 8ushby ~ i - - - [tom.] ~ -Ana ahan duh-, proasptly, sad fairy perform, d~~, ~P~, and. comply with and abide by each sad ever)? the stlpulatiOtis, agreements, conditions. and onveaaats of said note sad of this ~ mortgage, then this mortgage. and the estate hereby created sbaII cease sad be nuII void. ~ The Mortgagor further oovcaants as toitowa: _ - i. That he wiD pay fhe indebtedness, as hereinbatore provided. Privilege is reserved to prepay at say time, without premium or fee, the entire indebtedilees or any past thet+eot not lees than-the amount ~ one installment, or ooe hundred dollars (=100.00), whichevets less. Prepayment is full shall be credited ~ on the date received. Partial prepayment, other then oa an iostallmaot due date, need not he credited untd tLe nest foUowin= installment due date or tbisty days after sack psepaymmt, whicheves• is eatlier. - 2. In order more fully w 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 of this trust as herein- after stated) the following awns: (a) A sum ec)ual to the ground Hats, if any, Est due, plus the premiums that will next become due sad payable an policies at fire and other basasd insurance covering the mortgaged property, Plus taxes and saeessnneats - next due oo the mortgaged psoperty (aII as estimated by the Mortgagee sad of which the Mortgagor is - notified) leas all sums alread~r paid thes+efor divided by the number of months to befoc+e one month .prior to the .da*.e when succhh ground rents, Psemiums, taxes, sad aseea~~ats ~OOme delinquent, each same to be hdd by Morl~eeintsusttopaysaidgrounds+ents,Premiums,ta:es,aadspecialasseasmenta. (b) The aggregate of ibe amounts payable-pnrw~ant to subpata6raph (a) and those payable on the note secue+ed i ,shall be paid in a eln6ls payment sash month, to be apphed to the fallowing items is the ordes• s (I) graind Hats, tares„ assessments, fin, sad other hard insurance premiums; (In intet+eet on the note seemed heseby; sad (Tln amortisi?tii.~i of the principal of said note. o Any.deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mort- gagor prpr W the due date of the next such payment, constitute as event of default under this mortgage- At Mortgagee's option, Mortgagor wJl pay a "late charge" not exceeding four per centum (4°Jo) of any ina_ tall meat when paid more than Sheen (15) days after the due date thereof to cover the eats expense involved in ~ ~ handling delinquent pa nts, but such "Lie charge" shall not be payable out of the proceeds of any sale ~~i - r~lede b satiety- the i ebtxdnesa secured hereby, unless such proceeds ate sufficient to discharge the entire indebtedness and all proper costa and expenses secut+ed thereby. - 3. It the total of the p~arinents made h. the Mortgagor under (s) of paragraph 2 preceding shall exceed t~ the amount of payments actually made br tie b'iortgagec, as trustee, for ground rents, taxes and assessments, and insurance premiums, as the case iiiar be, such excess shall be credited on subsequent payments to be made efi by the Mortggagor for such items or, at. Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, however,.such nwnthly yments shall not lie suffirient to par such items when the same shall become due E and payable, then the Mortgagor shall pay to the Mortgagee, as trustee, am amount necessary to make np the deficiency. Such pa}~inent aliall be made within thirty (30~td?~'s after written notice from the Mortgagee ~ stating the amount of the deficiency, which swtice may bd given by mail. If st any Sm5 the Mortgagor shall