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HomeMy WebLinkAbout2620 - r ~w ' C-?29A cr 59423-a ~ THIS MORTGAGE INDENTURE ~ ~ ~ 1 Executed this ~f? day of April . A.o., is 80 by .4 C~u I a)~r . ARNOLD NEWMAN and RHODA "NEWI[AN~ husband and wife a~ ~ party of the tint part Iheranafta called Mestgagorl, to CHASE FEDERAL SAVINGS AND LOAN ASSOCIATION a corporation existing under the laws of the Unwed States of America, party of the second pert (herarsalter called 1M Associstionl, WITNESSETH, That to. divas good and valwble considerations, end to secure tM paymem of tM aggregate vein of nsoney named m tM promissory note of twn date herewith, hereinafter mentioned, together with interest thereon and s11 other wins of money secured Mreby as hereinafter provided, the Mestgpor does grant, bergam, sill, alien, remise, release, convey and confirm unto the Associautsn, in lee simpN, tM following described real esute, of which the Mestgsges is now Niied and possessed and in acwal possession, btuate in the County of $'jte LUCIE Sute of Plaids, legally described as follows . 19' ~ O (SEE LEGAL DESCRIPTION ATTACHED) g9. TOGETHER wnh all structures and improvements now and hereafter on said land end the fixtures attxhed thereto, also together wrath all end sirigtitar the tenements. hereditaments, easements, riparian rights and appurtenances thereunto belonging, or in any wile appertainirsg, and the rents, issues, and profits thereof, and also all the estate, t, r wht, title, interest and all claims and demands whatsoever, as wNl in law ss in equity, of said Mortgagor in and to the same, end very pert and parcel tfserepl, and also all gas 3 anct ekcurc fixtures, radiators, heaters, err conditioning egwpment, machirsery, boilers, ranges, elevators and motors, bathtubs, sinks, water closets, water basins, pipes, faucets, and other plumbing and heating fixtures, mantels, refrigerating plans end ice boxes, window screens, screen doors, wrietisn blinds, slam shutters end awnirsgs, which are now or may hereafter pertain io or be used with, in or on said premises, even though they be dltxhed es detxhabk, are and shall be deemed to tie fixtures and accessions to the freehold and a part of the realty, and, it the above described property is now or shall hereafter be used for commercial purposes, then Ilse IurmWre and fwmshings and any replacements thereof which may be owned by the Mortgagor and which are now or may hereafter be located upon the above described property. TO HAVE AND TO HOLD the same, together with all the estate, right, title, interest, homestead, dower and right of dower, separate estate, possession, claim and ,iemand whatsoever, in law or in equity, of the said Mortgagor in and to the same, and every part thereol, unto the said AssocNtion in tee simple. The Mortgagor hereby covenants with the Association that the Mortgagor is indefeasibly sated with the absolute and fee simple title to said property, end has full power, an:t lawful authority to sell, convey, transfer and mortgage the same. that it shall be lawful at any time hereafter fa the Association to pexeably and quietly enter upon, nave, hold and enjoy said property, and every part thereof, that said property is free and discharged from ail bens, ericumbrsnCTS, and claims of any kind, including taxes and assessments, except the lien hereof, which is a fast hen on said property. that the Mortgagor vydl make wch twther aswrances to perfect tM fee simple title [o said property .n me Association as may reasonably tie required, and that the Mortgagor does hereby fully warrant unto the Association the hue to said property and will delerd same i:t,,.nst the mortgage claims and demands of all persons whomsoever. NOW, THEREFORE, the condition of this mortgage is such that d the Mortgagor shall wren and truly PaY unto the Association, the irsdebterlness zvrdenctM by that certain promissory note, of even date herewith, made (sy the Mortgages and payable to the Associatan, in the principal win •~r-------------FIFTY NINE THOUSAND, EIGHT HUNDRED-------------------- DOLLARS IS 59, 800 a 00 1, together with interest as ?lierem stated, payable over a tam of d -iT months, and shalt vertorm, comply wrath and abide by each and every the stipulations, agreements, ctxsditioni androvenan[s contained an se orth m this mortgage and in the promissory note secured hereby, then this mortgage and the estate hercby created shall cease and fx null and void. TRANSFER OF THE PROPERTY; ASSUMPTION ' If all or any part of the Property or an interest therein is sold or transferred by Mortgagor without Assoeistion's prior written consent, excluding (a) tM 4 creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase molly security interest for household appliances, (e) a transfer I>y devise, desce~tt or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less not containing an option to purchase, Association may, at Associa[ion's option, declare all the sums secured by this Mortgage to be imnsediately due and payable, Association ,hall have waived such option to accelerate if, prior to the sale or transfer, Association and the person to whom the Property is to be sold or transferred reach } agreement in writing that the credit of such person is satisfactory to Association and [hat the interest payable on the sums secured by this Mortgage shall W i ,it such rate as Association shall request. If Association has waived the option to accelerate provided in this paragraph and if Mortgagor's_successor in interest r,as executed a written assumption agreement xcepted in writing by Asstscistion, Associa.ion shall release Mortgagor from all obligations under this Mortgage and the Note. - I t Association exercises such option to accelerate, Association shall mail Mortgagor notice of eculeration. Such notice shall provide a period of not less than 30 clays from the date the notice is mailed within which Mortgagor may pay the sums declared due. If Mortgagor fails to pay such sums prior to tM expire- ; ion of such period, Association may, without further notice or demand on Mortgagor, invoke any remedies permitted by paragraph 15 Mreof. $ AND the Mestgagor doss Mreby covenant and spree ~ t To pay aR and singular tM prince I and interest and otMr wins of ? pa money payable by virtw of said promissory note and the mortgage. or srttNr, promptly on i the days respectively the same severally bstome due 2 To very all and singular tM taxes. assessments. other povernn»nu1 Iwies. habitibes. obligations and encumbrances of every nature on said described property and the related debt acquisition each and every wMn dos end payable according to law. before they become delinquent and. if tM same shall not be promptly paid the Association may at any bins. sitMr before es slier delinquency. WY tM settle without wamng a aNscbrsp tM option to forscloae. of arty right hereunder. and every payment so made shall Dear interest from tM date tMreof et tM refs of eighteen pa cent (1896) per anrnim 3 That the Mortgagor will keep all lest and personal property rww or Mrsaha encumbered by tM Iren of this mortgage inwred as may be required from tirM to ;rme by the Association against bss by fire. windstorm and otMr Mzerds. uwaltMS and ContinpenGes fes such periods end for not less then such amounts as may be required by the Association and to pay promptly vrhen due ail premiums far wch insurar?te Mortgages sprees to deliver renewal or replegrMnt lwl+c~es of any nature or replacement csrtiticstss of inwrancs to tM Association. •t least ten 1101 days prgr to tM exgration or anmwraary date of tM s:istirip 3 palrcres The amounts of insurance required by tM Association atoll be minimum amounts .es which said inwrence aliall Ne written aisd it efiall be incumbent open the Mortgagor to maintain such additional msunrtp as may be necessary to rtiNt and comply fully with ell oo-irsaursnte requirsnNnts contained m sad j pol,cies to the end that seed Mortgagor is not a co•inwres tMreursder. Inwrence shell be written by a company or companies approved es designated by the Association and an policies aril renewals tMreof shall bs told by tM Association. All tisuiksd dosipriationa by tM Mortgagor which are acuptsd by tM ~ Association and au agreements betvvsen Mortgagor and Association abtinp to inwrance. now existrg a Mrsaher made. shall bs in writing end sl?sU be a pert of this mortgage agreement as fully as though set forth verbatim Mrsin end atoll govern both parties Mreto and tMir wcpssors erd assigns. No Ijsrs upon any of said policies of insurance es upon any refund es return premium which may be payable ors the cancellation or termination thereof. shall be given to otMr than the Association. except b proper endorsement •Hixed to wch f y policy and approved by tM Association. Each policy of insurance shaK Mw affixed thereto a Standard New York Mortgages Gwse without Contribution, making all bss or losses under such pdicy payabN to tM Atsaociation as its interest risay appear. In -the event any sum or sums of mor?sy become payable tMreuisder. tM Assoaetan shah Mw tM Option to recaw and apply tM same ors account of the in- ~ debtedness hereby secured. or to permit tM Mortgages to receive end use rt. or airy part tMrtwf, without tMreby weisnnp or impainng any equity. lien or right i under arsd by virtue Of this mortgage In event Of loss W physical damage t0 tM niortpeged property. tM Mortgagor atoll give immediate notice thaeol by mail ~ to the Association and [M Assoaauon may make prool of bss d the same is not made promptly by tM Mtxtgsgor. In event of festxlown of the mortgage. or other transfer of title to tM mortgaged property. in extinguishment of tM indebtedness seturtsd Mreby. all right. bile and interest of tM Mortgagor in and to i any insurance policies then in force shell pass to ill purchaser a pnntN. The Mtxipepor furtlser sprees to abide by tM ruNs and existing regulations of tM Association. in connection with required inwrerste covaaps of tM property Mrein encumbered. 4 Paragraph 4 and those whch fellow are contained on tM reverse side of this ttsortpape and by nfaatce en incorporated into tIN body of this itsortpape. The terms Mortgages and Assocation, vvhenewr used m this instrument, shell include tf?e heirs, personal reprpentatives, weceuors or assigns of the rtspective parties Hereto. Wherever used, the singular numbs shall include the plural and the plural the singular, use of airy gt shall include all gtrsders. IN WITNESS WHEREOF, these premises hew been executed on the day end year first i n. Signed. seated and tiNiwred in the resence of: a , , ~n ice" ISEALI ~D - ISEALI D , ~Q f.. l ISEALI } ISEALI ~J 10i+iq STATE OF NSW YORK COUNTY OF~ ~ ~ Aril I s The fesegoing instrument was xknowled9ed before me this Q~ day of p , 19 80 by ~ e ARNOLD NEWMAN and RHODA NEW~dAN, husband anal" "wife . JtiCK W. ;~iP.~GULIES lltYipefreC NOTARY P~.'8~i!;, ' • -,r :vew Yfx1r LENDER • My comnusswn expires N0. d 1.464b390 i , , CO on Expires March 30, 1981. ',NEw YORK `%~~j/~~ Notary hiWie. 3tiq of r flR~~ ~i~~ s Brf7K•JVV PdGE~V{Jty ~ "