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Home My WebLink About2304 • The Mortgs~gor hereby oovenaata wi~i ~ r iadeteasr aweed of said In tee oar such other estale~ tt say as is sts?Lei~~~i; I~~hYs7~power and law(d,ri~ht to oaavei -the same t~bit the land r free ~ au , s:ospi as her+sa asherwias rested; that said Mort~s,~or uetiNr as~ursnoes peon tie atore~aad lids to wd-lend in wd Mortgages as may be reason. rraegg sad that aid dt>~ b~si+sby fu{ly. warrant the title t4 said }anti, sad eveq pairb thereof, dill dsle+~d ~N ~1MQ sp~ipathD~ wt. elai+oa at ail yatvoaa wlro~naoevar: ` • 1'>tOria~ a?t.wwiw rw.•'~a .o. ww.~. f~:. a..r ~ whralA tM tolbwiog is a wtbstar?tiai Dopy, tin w3ty ° _ - - '-'~'!'n!~"°r~' nnt~ at i 39,000.00 Decelgberl2P ig79e. I+loeid~ 1Fba VaLVU Ratrtvaq, the uadersiprd promiseO to pq to SUBUR6AN CQASTAL CORPORATION laws d New Jerse ~ a ~ ~ ~ nade~ ~ y =oe oedar_thb prineipsl snm d THIRTY NINE THOUSAND AND NO/100-----------~--• Dd4rs (139,000.00 with iatwat iron date at the rate d Ei even and one half pee eeatum { 11.5 ~ pee annum on the unpaid balance until paid. Ths said principal and inlee+eet shall be psyabis at the cioe d Suburban, Coastal Corp. P. 0. Box 1328 - is Passaic, New Jersey 07055 , or at snob otbetr place ss tbs holder rosy deeianate in writing delivered err mailed to the debtor, in monthly iaetallments d Three hundred eighty six 8 49/IODdWs ` 386.49 eomasenao~g oa the Brat day d February , 1080 , sad continuing an the 8rrt ~ d each month thee+eailer untti this Dote is fnli, paid, ea<ee~pt that, ii not sooper paid, tLe Baal payment d prrncrpal and interest shall bs due and payable on the $rst day of Jgnu~~aryy , 2010 PtivOage is r+essrved to prepay at any time, without ps+eaaium oar tee. the enure indebtedness or oar part thasoi sot less thsa rise amount of ose inetailrrrsat, oar oas Daadnd d~ (i100~.00), whicbs~sar b ins. Yrspay,ownt la ihll ebaD be eked oa tba date tsoeited. Psrti~i prapaymeett, otMc thsa as as iosalimsat duo daq, ass apt bt credits anti) the asst fodowin= iastagmsnt duo dots a thhty d~ya attar sudr ptopeysosat, w6lebsver r ~ . . Ii any deAaienay in the pa~mez?t of any ini~talime~?t undue Ibis note is not mach good prior to .the due date at the Heart sudr inatalioaeat, tLe entire soar and aoeu~ed interest shaD at onus become dne sad paT able without notice st the option of the ~~I thi. note. 1+'ailme to ezes+ose this option sLail not oosrtrtnts a waiver of the right to szerrsse the same an the evesit of any subsequent default. In tube event d default in the payment of this rote, and it the same is collected by an attorney at Lw, the uaderaigned hereby agree(s) to pay all costs of collection, including a reasonable atilo~raej'a. fart, This rote is secured by aw ~e of even dale eseculed by tLe under+eigned on certain property described therein and repreeeats money ac~uagl used for the aoquisitior? of said property or tbs improvements thar+eon. presentment, protest, and notice, are hereby waived. /s/ Paul C. Gillespie Paul C. Gillespie And shall dnly, pmanpdy, and fully perform, discharge, execute, effect, complete, sad comply with and abide by each sad ever~r the stipulations, aae+eements, conditions, and oavsnants d said proaniseory note sad of this mortgaae; rhea tWs mortgage sad the estate hereby eeieated shall cease sad be null and void. The Mortgagor further eovenaats as follows: . i. That wig ~y t~? ~ u hereinbetare provided. privilege is reeeeved to prepay at anY tip, without preanium or a0. the entire indebtedness or any part thered not lees than the amount d one ineRallmeat, or one hundred donna (;100.00), whidrever is less. Prepayment in fug :ball be credited oa fhe date received. Partial prepayment, other than on ati in:tagmeat due date, need not be credited tmtil the nezt tollowins indagment due date or thirty days after such peepsymeat, whkhevet is eatlkr. 2. In order more lolly 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 eac~? month until fife said note u tu)ly paid, will pay to the Mortgagee, as trustee, (under the terms of this Lrust as herein- after stated) the iollowuig awns: (a) A sum equal to the around nmta, if say, nest due, plus the premiums that will Wert become due sad payable the and other hazard iasuraaoe ooverirta the mortgaged property plus taxes sad aesessrneata ~ ~ ~ property (all as estimated by the Mortgagee an~ d which the Mortgagor is to the date whew tbee+efor divided by the number d moatba to before one month ~ sums to bs held by Mort~intnutt~~o ~is'id~ ~ eta become delinquent, (b) The d the amounts pay ~'O1'adm°t°,P~~?tip~yab~speaalaaeeeaments. be ~ ~ a soi pursuant ~ ~apaplied to the fellow erg items m' the ardor payment each marl to be ~ (n gramd rents„ tares, aeeesements, Sre, sad other hazard insurance premiums; (In interest on the note secured hereby; and (IIn suaortrsation d the principal d said note. Any,deficiency in the amount of such aggregate monthly p~?yment shall, unless made ~ by the Mort- gagor prpr to the dos date o[ the next such payment, constitute an event of default tin er this mo ttggaaggee~~ At Mortgagee's option, Mortgagor will pay a "late charge" not exceeding four per centum (4%) of any ii~sta71- ment when paid more than ffiteen (18) da~rs after the due date thereof to Dover the extra expense involved in handling delwquent ps? ate, but such 'late charge" shalt sot be payable out of the proceeds of any sale made to sandy the redness secured hereby, udess such proceeds are w~cient to d' indebtedness and all proper costs sad expenses secured thereby. a the satire 3. 1t the total at the pa~~nenta nude b33• the Mortgagor under (a) of paragrapl~ 2 preceding shall exceed the amount of payments actually made by tt~e Mortgagee as trustee, for ground rents, taxes and asaeaslneats, -e and insurance premiums, as the case rosy be, such excess s~~all 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. I! however, such monthly payments shall not he sufficient to pays i w~~en the same shall become due and payable, then tl?e Mortgagor shall pay fo 'tile 1ortgagee, w~>a~ylamount necessary to make up the deficiency. Such pa~•ment aluA ~t made~ within thirty (:i0) da~~s after written noticx lrom the Mortgagee = staiina the amount of the deScieaey; vthic')i notice may be given by mail. if at say time the Mortimer .l,vl