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Home My WebLink About1347 The Mortgagor hereby covenants with the Mortgsgety that fie is indefeaaiWb~yy st~sad:of said~lyd it fee ample or such other stater tf aqy as is stated herein; that he has full power and lawtulrigbt b eoovev the cams as aforesaid; that the land >s free ~rom all encumbranoea except as herein othenrise rented; that aaidl~dortgagor will make such further assurances b prove the aforesaid title b said land in acid Mortgages as may bs reason- ab~j rreeqquired, and that said Mortgagor does hereby fatty warraait tae title to acid land, and every part thereof, and will defend the same against the lawful claims.os all persona wbomwever. Paoviasn ALwats that if the'4lortgagor shall pay Hato firs Mortgages fast certain promissory note, opt which tae following is a wbstantial copy, b wit: Ft . Pierce , I+loridi = 69, 500.00 June 19 , lti 80. Fox Vvvs Rscstvsn, the uada~eipied promise(s) b pay b SUBURBAN COASTAL CORP. a corporation organised and under tbs bws at NEW JERSEY , a order, the principal sum of SIR1'If-NINE THOUSAND FIVE HUNDRED AND NO/ 100-----------------------Dollars (i 69, 500.00 with interest from date at the rate of ELEVEN AND ONE HALF per centum (11.5 Per annum cn the unpaid balance until paid. The said principal and interest shall be payable at the affioe of SUBURBAN COASTAL CORP. P.O. Box 1328 in Passaic, New Jersey , or d such other place as tae bolder may desi~iate in writing delivered or mailed b the debtor, in monthly inatalliaenta of SIR HUNDRED EIGHTY-EIGHT 75/100 Doaan 688.75 eommeacing as the filet day of August , 10 80 ,and oontiauiog on the first day of each month thereafter until this note is folly paid, except that,. if not sooner paid, the Snal payment of principal and interest shall be due and payable on the first day of July , .2010 . privilege is reserved b prepay at any time, without premium otr fee. the entire indebtedness or any Part thereof not lac than the amount of one installment, of one hundred dollars (=100.00), whichever is tat hepuymeat is full shall be ctsdited on the date received. Partial ptepriymeat, otbe: than oa as instaUmeat due date, need not be credited imW the ne:t fanowin~ indallmeat due date or thirty days after such prepayment, whic6rser is a~rlia. If any deficiency in tae pa t of any installment under this note is not made good prior b tbs due date of the nest such installment, the entire princtpal sum and accrued interest shall at once become due and pay- able without notice st the option of the bolder of this note. Future to exercise this opptaoa shalt not oonstituts a waiver of the right b exercise the same in the event of any subsequent default. Ia the event of default in the payment of this note, and if We same is collected by as attorney at Lw, the nndersigoed hereby agree(s) to pay all costa of collection, including a reasonable attorney's fee. Thin note is secured by mortgage of even date executed by the undersigned on certain property described therein and represents money seta y used for the acquisition of said property oar tae improvements thereon. Freeeutment, protest, and notie~ arc hereby waived. /s/ ADRIAN M. STRICKLAND [g~L] R H. /s/ SANDRA STRICIQ.AND _ [ggAt,] SANDRA STRICRLAND [SEAL] [SEAL] And shall duly, P~PHY, and fuDy perform, discharge, execute, effect, complete, sad comply with sad abide ~ by each and every the stipulations, aareementa, conditions, sad covenants of said promissory note sad of this , ~ mortgage, then this mortgage sad the estate hereby created shall cease sad be nuII sad void. _ The Mortgagor further eoveaaat8 as follows: 1. That be will pay the indebtedness, as hereinbefore provided. Privi"tege is reserved b pr+epsY ~ ~Y f without premium or fee, the satin indebtedness or nay part thereof not less than the amount of one installment, or - one hundred dollars (;100.00), whichever is less. Prepayment in fuD shall be credited on the date received. Partial ! prepryment, other than on an installment due date, need not be credited until the nest [ollovring installment due date or thirty days after such Prepayment, whichever is earlier. 2. In order more fully to protect the security of this mortgage, the Mortgagor, together with, and in addition to, the monthly payrrrenta under the terms of the note secured hereby, on the first day of each month until the said note is fully paid, will pay to the Morigagee, as trustee, (under the ternrs oI this trust as herein- € after stated) the following awns: 3 (a) A sum equal b the ground ruts, if nay, next due, plus the premiums that wr~l next become due sad payable oa policies of fire and other basard insurance novenas the mortgaged ProP~Y, P~ fazes and as~smenta aezt due oa the mortgaged property (all as estimated by the Mortgagee sad of which the Mortgagor is notified) less all sums already paid iberefor divided by the number of mmths b before sae month prior b the date when such ground r+eats, premiums, lases, sad aaeemmenta lyeoome delinquent, such sums b be hdd by MorigageemtrusttopsYsadlZ~nd~t0.P~~,~,~~aseesemeata. (b) 'The aggregate of the amountsable pursuant to subpara6raph (a) sod those ppaayable oa the note secured ~ hereby, shaII be pad in a payment each month, b be applied b the fallowing items in the order stated m ground rents, taxes, asseasanents, fin, and other basard insurance pr+emiuma; (II) interest on the note sccund herby; and (Im amortisation of the principal of said note. ~ Any deficiency in the amount of suc'~ aggre~ato monthly payment shall, unless made good by the Mortr gagor prior to the due date of the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mortggaaggoor will pay a "life charge" not ezceeding four per centum (4%) of any install- ment when pad more than fifteen (15) days:tier the due date thereof b Dover the satin expense involved in o^,,, handling delinquent paymanta, but such "late charge" shall not be payable out of the proceeds of any sale ~ made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient b discharge the entire indebtedness and all proper costs and expenses secured thereby. I 3. If life total of the pa}'riients ?iiadc h. the Mortgagor under (e) of paragraph 2 preceding shall exceed the amount of payments actually made by the biortKaKee, as trustee. for ground rents, lases and assessments, ~ i and insurance prrmiwus, ss the case uiay be, such excess shall be credited on subsequent payments to be made ~e1 by the Mort or for such items or, at Mortgagee's option, as trustee, shall be refunded to Mortgagor. If, ~ however, such riront}dy payments shall not tx~ suffiripnt to pay such items when the same shall become due ~ and payable, then the :4ortgagor shall pay to the Stortgagec, as trustee, :ny amount necrssary to make rep ~ the deficiency. Such payment shall by made within thirty (:i0) gnaw otter written notice from the Mortgagee ~ stating the amount of the deficiency, which notice may be given by mail_ If at any turn the Mortgagor shall