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HomeMy WebLinkAbout1411 - C-717A cr 62893-2 ~ 0-' THIS MORTGAGE INDENTURE ~ u E.ecuted this day of April , A.o., lfi 80, by n~~v JOHN A. ' GORMAN and JSANNS A. GOR~dAN, husband and wife perry of the lust part (hereinafter called Mortgayorl, to CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation exerting urKkr the laws o1 the United States of Ameiita, party of the second part Iherernalter called the Auocutionl, WITNESSETH, That for deers good and valuable consdarations, and to stcurc the payment of the aggregate win of money earned in the promissory note of even date nerevrith, hereirwtter rrtentio+ted, together with interest thereon and all other wins of molly secured Mrtby as herernaUer govided, the Mortgagor does grant, bargain, sell, anon, remiSl, release, convey and conlum unto the Association, m lee sirttpN. the lolbvwng described real estate, of trrhicn the Mortgages is now sorted and possessed and m actual possesson, situate in the County of ST. LUCI$ RfCEly:O : ~i.0~ !!1 PA`Y'$AVA44MQE!!la• legally deunlxtd CUc OV GLASS 'C' t'(T:.':'.; f, : i FsJ?ERTIf, as fouows FUr:S;i;,t1T TO i R:.°1 7!-v, !.C(j of 1x71. (See legal description attached) ::;,C.::j P~(Tins CL`-RK g3CUiT DOUBT, St. LU~1E f4,K.~' ~~i5o TOGETHER with all stiuCtwes and improvements now and hereafter on said Isnd end the fixtures attached thereto, also together with all and srngiilar the tenements. hereditaments, easements, riparian rights and appurtenances thereunto belonging, a in any wise appertaining, end the rents, issues, end goNts thereof, and also all the estate, r ~ylrt, title, interest and all claims and demands whatsoever, as well m taw as in equity, of said Mortgagor in and to the same, and every part and parcel thereof. and also all gas and electric Natures, radwtors, heaters, mr conduwmng eywpment, machinery, boilers, ranges, elevators and motors, bathtubs, sinks, water closets, water beams, PrPes. teucets, and other ptumbin9 and heating lirlures, mantels, rehigeraurtg plans and ice boxes, window screens, screen doors, venetian Winds, scam shutters and awnings, which err now or may hereafter pertain to or !se used with, in or on card glmises, even though they be detached or detachable, are and shall be deemed to be lirwres and accessions to the Neehold and a part of the reahy, arxi, d the above described goperty n now or shall hereafter be used to commercial purposes, then the furniture and furnishings and any replacements thereof which may be owned by the Mortgagor and which are now or may hereafter Ese located upon the above described property. TO HAVE ANO TO HOLO the same. together with all the estate. right, title, interes!. homestead, dower and right of dower, separate estate, possession, claim aid demand whatsoever. rn law or in equity, of the card AforlgagOr in and to the same, and every part thereof, unto the said Asfociation in Ice simple. The Mortgagor hereby covenants wdh the Association that the Mortgagor is indefeasibly sewed with the absolute and lee simple tick to said property, and Has full power. arr.t lawful wthunq to sett, convey, transfer aril mortgage the same. that it shall be lawful at any rim! hereafter for the Association to peaceably and quietly enter upon, naer- hold aritl entoy card property, arxl every part thereof. that said goper ty n Iree and discharged IrUrO all liens, encumbrances, and clarms of any kind, including tares and assrsiments, except the Hen hereof, which is a fast hen on said property. that the Mortgagor wdl make such further aswrances to perfect the fee simple title to card property .n the Assaaaticxi as may reawnaWy tie regwrerl, and that the Mortgagor does hereby fully wan ant unto the Association the title to said property and wdl defend same ~a.rr~st the moi tyaye clarms and demands of all Irersons whomsoever. - NOW. THEREFORE, the condition of this mortgage is wch that d the Mortgagor shall well and truly pay unto the Association, the indebtedness e.~aencecf by that cenain promissory note, of even date herewith, made by the Mortgagor and payable to the Association, m the principal sum ,il FORTY THR$T THOUSAND and NO/100------------------------------------ DOLLARS i5 43,000.00 1, together wnh interest as therein stated, payable over a term of 348 months, and shah pe: f arm, comply with and abide try each and every the stipulations, agreements, conditions and covenants contained and set for th in this mortgage and m the promissory note secured hereby. then this mortgage and the estate hereby created shall cease and be null and void- - TRANSFER OF THE PROPERTY; ASSUMPTION It all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Association's prior written consent, excluding lal the reation of alien or encumbrance subordinate to this Mortgage, Ib) the creation of a purchase money security interest for household appliances, (c) a transfer t,Y devise, detcent or by operation of lase uaon the death of a joint tenant or Id) the grant of any leasehold interest of three years or less not containing an option to purchase, Association may, at Association's option, declare all the sums secured by this Mortgage to be immediately due and payable. Association shall have waived such option to accelerate if, prior to the sate or transfer, Association and the person to whom the ProgrrtV is to be sold or transferred reach ; agreement m writing that the credit of such person K satisfactory to Association and that the interest payable on the sums secured by this Mortgage shall be such rete as Association shall request. If Association has waived the option to accelerate provided in this paragraph and if Mortgagor's successor in interest ryas executed a written assumption agreement accepted in writing by Association, Association shall release Mortgagor from all obligations under this Mortgage and the Note. If Associatiorsexercisessuch option to accelerate, Association shall mail Mortgagor notice of acceleration. Such notice shall provide a period of not less than :30 days from the date the notice is mailed within which Mortgagor may pay the sums declared due. If Mortgagor fails t0 pay such :time prior t0 the expira- t~on of such period, Association may, without further notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 hereof. AND the Mortgagor does hereby covenant and agree I To pay all and singular the gincipal and interest and other wins of money payable by virtue of Sad promissory note and tMS mortgage. or either, promptly ore ' the days respectively the same Severally become due E 2 To pay' all and singular the taxes. assessments. other gpvernntental levies. liabildus. oblpatiorts and encumbrances of every nature On Said described property and the related debt acgwsrtiOn each and every when due and payable according to Isw. before they become delinquent and. d tfie same shall not be promptly yard the Assouauon may at any time. edher before or after delinquency. pay the same wdhout watwng or affecting the optan to forscfose. or any right 4 hereunder. and every payment 'so made shall beer interest from the date thereof at the rate of eighteen per cent Ill3?b! per annum { ~3 That the Mortgagor will keep all real and personal property now a hereafter encumbered by the hen of this mortgage inwred as may be required from time to - ume by trio Assouation against bas by hrs. windstorm and other hazards. psualties and contingencies for such periods and for not less than wch amounts as may be requred bti the Association and to pay promptly when due all gemwms for such mwrance Mortgagor agrees to deliver renewal or replacement poi~c~rs of any nature or replacement certificates of inwrsnce to the Assocution. at least ten 1101 days gior to the exgration or anniversary date of the existing po6cres The amounts of insurance requued by the Assrxiation shall be minimum amounts for which said mwrance shall be written and rt shall be incumbent upon the Mortgagpr to maintain such additional mwrance as may be necessary to meet and comply fully will all co-mwrance requuements contained in sad j pol~G=es w trio end that card Mortgagor is not a co-mwror thereunder. Insursrtcs shall be whiten by a company a companies approved a designated by the Association and all policies and renewals thereof sM11 be Mtd by the Association All detailed designatans by the Mortgages which are accepted by the Association and aN agreements Detwsan Mortgagor and Associatan relating to mwrance. now eaistirtg a hereaher made. shall be m writing and shall be a part of inns mortgage agreement as fully as though set forth verbatim ftsrsm and shall govern both parties hereto and their successors and asngns No lien upon any of said policies of mwrance or upon any refund or return prertuum which may be payable on the cancelgtion or termination thereof. shall be gwen to other than the Association, except by proper endorsement sffixa0 to wch policy and apgoved by the Associaton Esch policy of mwartce shall have affuad thereto a } Standard New York Mortgagee Clause without Contribution. rrukrrtg all bas or losses under wch policy payable to the Association as its interest may appear In the event any sum or wins of money become payable thereunder, the Assocutwn dull love the Option to receive and apply the same on account of the m-. I debtedness hereby secured. or to permit the Mortgagor to recsiw and use rt. or any part thereof. without thereby wainng or impairing any equity. lien or rpht ! urger and by virtue of this mortgage In event of loss a physical damage to the rtigrtgaged property. the Mortgagor shall give immediate entice thereof by mail ; to one Association and the A_ssociatan may make proof of bas if tM same is not made promptly by fns Mortgagor to event of lo?etbwrs of this mortgage. or other transfer of title to the mortgaged property. in axtmguishment of the irtdebtadness secured Mrsby. all right. title end interest of the Mortgages in end to any insurance policies then in force shall pass to the purchaser Or grantee The Mortgages further agrees to able by the rules and existing regulations of the Association. in connsctwn with rpwred mwrance cowrsge of the property Mrein ancumberrd 4 Paragraph 4 and those wfuch folbw are cOnUirtad on tM rewrM side of this mortgage std by nlannca are uscorporstad into tM body of this mortgage. The terms Mortgagor and Association, whenever used m this mstiunsent, shell include the hens, personal represtnUtives, wotxssors or assigns of the respective parties hereto. Wherever used, the singular number shall include the plural and the plural the singular, end the use of any gender shall include all genders. t ?N WITNESS WHEREOF, these gemiscs have been executed on the day and year first above written. S.gned, sealed and dN eyed in the presence of. r ill ISEALI HN A. GO / • a~~~~~"v ISEALI EANNTs A . GO ISEALI (SEAL) STATE 6fr - K COUNTY OFD/~~'~'Y ~ . >~i llbiegoirq mitlynttlnCMps acknowledged before me this day of Apr i 1 , 19 80 Isy ~Q st ~ II • : ` 1t ~ -1 J,t .A:.' ti0 ~ sad JEANNS A . GORIHAN , husband ad wife l ~ ~ % IENDER ; ' ' of Fiofidaf a>t laxge ' Notes Public. State ' R1y Commission Expires :~i' _ ~ a>~a.e sr Aw.rKan Ire a Gr.dr Corvae[ ~ - Notary Public, Stag 01 { ~r~ ~ a~;'lK •~JU P4GE 1403 3 _ - . .