HomeMy WebLinkAbout0684Tho A1ort~;a~ur here6y co~•ensuta with tl,e :1lortga4;u~-~ lwat he ia inJeteagib1q seized of ssid lsnd in fee
aimplo or such other o.,tat,o, J any ea is atat,~d herein; tl~a~ t-e has tull power and laN~tul right to couvev tl~e same
as stare.~;aid; that the laud is iree from ull eacuwbrsnces oxcepl, ac berein otherwise recit,ed;l~ut said I~iortgu~;or
will mnke such furt,her assutartcea to pmvo tho aforesaid t,it,le t,o eaid land in said Mortgagce as may be rexson-
a61y requireJ, aud that said Alortgagor does hereby fuUy werrant the tille to said land~ and every part l.hereot~
aud will defend the same agsinst t,he lawful claima ot W pen;oiia whomsoever.
PROViuh~ ALw~vs ths~ it the !11o~tgagor ahsll psy unLo the Mortgagee that cectain promissory note~ oi
which the tollovring is ~ substaatial oopf~ to vvit:
i 35,000.00 Ft. Pierce . Florids.
January ?th , ~9 81
FOR VALUS REC6IVED~ the undersi~ed promi~e(e) to pay to
Suburban Coastal Corp.
, a corporation organised and eaiating under the
Lwe of the State of New Jersey~ or order, the principul sum ot Thirty-Five Thousand nd
No/ 100 ------------------------------------- DO~ ~= 35, 000.00 ~~ ~rith iat,erest ~rom date st
Lhe rate ot Thirteen and One-Half P~ ~tum ( ~ 3~ S~Io) per annum oa the unpaid balanoe uutil paid.
T6e said principal and interest ehall be payable at the office of
Suburban Coastal Corp.
P. 0. Box 1328
1II Passaie, Ne~+ Jersev 07055 ~ ur at such other placE aa t6e holder may designate in writiag
delivered or mailed to the debtor, in monthly installme4ts of Four Hundred and 89/100 --------~ollars
(= 400. 89 )~ commencing on the 6rst day of Mareh ~ 19 8Q and continuing on the
fiist day oi esch month t6ereafter until this note is fullp paid, eacept t6st~ if not aooner paid, the 6na1 payment
of princapal and interest shall be due and pasable on the first day oi February, ?011 ~ -
Privilege is reserved to prepay at any time, without premium or fee, the entire mdebtednesa or anp par6
thenwt not less th~n the amount ot one installment. ot one hundred dollars (a100.00), whichever is less. Prepayment in full
ahall be cmdited on the date received. Putial prepayment~ other than on an instaliment due date, need not be credited until
the next [ollowing installment due date or thirty days atter such prepayment. whichever is eulier.
If any deficiency in the payment of any instullment under thia note is not msde good prior to the due date
of the neat such instaWneat~ the entire pr~ncapal sum snd accrued interest shall at once become due and pay-
able without notice at t6e option of the holder of this note. ~'ailure to exercise this option shall not const~tute
a w siver of the right Lo exerc~ the same in tLe event of any subsequent default. In tLe event of deiault ia the
payment ot this note, and i[ the same is collected by an attomey at law, the undersigned hereby agree(ej to
psy sll costa ot coUection, including a reasonable attomey's fee.
This note ia secured by mortgage of even date e~ecuted by the undersigned on certain property described
therein and representa money actually used for l6e acyuisition of'said property or the improvements thereon.
Preeentment~ ptotest, and not,ice are hereby waived.
----------•--- --------------- •-------- ~~L~
Wallace K. Thomas III
---~-----------------------------------•----------- ~SEAI'~
Denice M. Thomas
_.---- ---- -- --- _ -- - ~sEAL]
.~
-------- ------------ ~SEAL]
And shall duly, promptly, and fully p:rform, discharge, execut~, efTect, complete, and comply with snd abide
by each and every the stipula:iors, aqrepments, conditions~ and covenants of said promissory note and of this
murtgagc, then this murtguRe ar-d Lhe estate hereby created sh:-11 ceage and be nuli and void.
The 11Sortgagur further covenants as lolloas:
1. Thnt he w-ill pay the indebtedne~.5, as hereinbefore provided. Privileqe 49 i'(..'SPN~'d to prepay at any time,
wi!hout premium or fee, the entire indebtednesg or any part thereof not less than t:ie amount of one installment, or
vr,e hundred dallars (SIOOAU), whicNe~er is i~~s. Pmpa}•meni ~n full shall t-e credit~~c; un the date rereived. Partial
prepa~•ment, other than ~,n ;sn installment duc date, need not !~c cred~t~~d un!il Lhr nert follo~+•inQ installmrnt due date ~,r .
th~rt~• day s a[ter such prepa~•ment, w hiche~rr ~s earlier. -
`~. 'n ~-nj~~r tnr,r~• f:~!!~ ;u pmtr~~t t::~~ .e•~i~ntc ~~f rl~i~ tnurtRxz~•, tt.~• ~l~rty~-:~~,:. to~~th~~r w•itti. ,~r,r! is~
u•s~istum t~~, ts:~~ ~u~~ntiii: ,,a~-ri~f•nts u~~~lrr th~~ I~~rr~i~ +,; tt~~~ n~;e• s~~~ ur~•~I hi~r~•~„ ~~n ,;~~• fir~t ~ir+~- nf i•a~•h n~nn~i~ .
ii:nl ti~~•,ai~i nn;~• -. f•:!~~~t-:u~i. w:il ;~:s~ *~~ t'~~~ ~1nrt#~a~.•~•~•. ~~ ;ru~t~•~~. ;uu~t.•~ t~:~~ t~~r~:~s ~~f tt:i~ iru:l ati h~r~•it~-
i111 rC ~1M1~~~~ 1 ( it~~ (e-,~nN•Ir1=! ~ill~:~
(g) A sum equal to the ~round ren.s, ~f any~ next due, plus the premiar:is th~tt v-~ll next become due and payable
oa policies of Sre and other hezard u-surance coverinq the mortqa~ed property, plus taxes and ria~~,sments
next due un the mortga~ed property (a11 as estimated hy the ~iort~a~ee and of Rt-ich the ti~ortgaqor ~s
notified) less all sums already pa~d therefor divided t,y the number of rnontt-s to elapse be:ore one month
prior to ttie date when such qround rents, premiums, taxes, ar-d as~essmer.ts aill become deiinyucnt,
such sums to be 6eld by ~lortgageeintrusttopaysaidRroundrent~,premiums~taxes,andspecialas.se~sments.
(b) The aggregate of.the amounts payuble purauant to subparagraph (s) and those payabie on the not~ secured
hereby~ shall be paid in a single payment each month, to be applir.d tu the follcwing items in the order
etated : .
(I) ground reats, taxes, assessmenta, 6re, and other hazard insurance prerriiuma;
(II) interest on the note secured hereby; and
(III) amoctizatiun of the principal of said note.
Any deficienc} 6r~ ti~e nmoun: nf su~ h a~.t~r•~~at~ mnnthl~ pn~•m~nt cl~f~:t unlecs mn~IP ~OC)1I Il~• the ~fori-
gagor prjar to lhe due (IASe ~~f th~ n~xt s.~~~h j,e~ rn~•nt, ~•on~t~tute en e.-er~t ~-f d~fault und~~r this mortga~;~.
At ~lortgagee's option, ~~urt~ag~r w•i:l pat• a"{atr char~;~•" not exceedin~ four per cent~im (4~Jo) of an~• ~nstetl-
ment w•hen paid more than fifte.•n (l:,i da~s aftPr thP ~1ue date thereot to ~over tli~ cxtra expense in~~oh•ed ir-
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inquent pa~
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~i,ell noc b~~ pa}•abl~ out of tt,e proceeds of an.ti' sat~r ~~
made to satisf~~ the indPbtrdnF:s ~e~~ur~•~i heret,~•, u~J~ss «u~h proceeds are suffic~ent to dischar~-e the entire ~
indebte~lnes.q ai~d all proper ~u~ts anef erp~nsc~ secured thereLy. ~
:i. 1~ tlu~ t~tal .-f t1:e• ~~o~i-:u~•~~t: r:~,ul~• ti~ the~ ~IortKu~or un~l~•r in; ~~f ~~ar+-k'r:-i~l~ 2 priv~•~1is~K shall ~x~~e~d ~
th~• un-~ur-~ r-( pn~-~ru~nt• a~~•!~i:~fl~- n~s~,ir h~- tlu• ~fort~;u}-~•~•. a.s truct~•~•. f~~r ~ru~r~~f r~~ntc, tnx~~~ an~i ass~5c~n~~nts,
an~t insuraur~ pr~•rnie,rn~ .« c~~~• ~ t~:~• ~n:~ :~ h~•. •u~•h rxr~s, ~I-all h~~ rr~~~iit~•~1 ~~n ~u'rn•~~yu~nt pa~•m~nts ~o EM 1118~If~ ~
bc th~~ ~1~rtK
u~;~~r f~~r •w h,r~v ,< <~r. ut \lnr~~r-~~~~~~'~ ~-~>tion. e~.. tru~t~~~~, sl:uil i~e~ r~fun~l~•~l to L1ort~e~c-r. If, r+'~
i
f10N'CVPI'. ~U~fl ItMfll~i~\' ~18i"!tu•-:h ~ht~~~ 11i~J }k• vtl~~l~•!rI!1 1(~ ~~~-, ~~~.~n IIPIItS N'~IPI} (~~P SflIISP S~UI~) ~N'COf11P (~UP
8f1(~ (1f1~'IIF)~P. ~~1P11 1~tP ~~~~~!'~71t~~t' .Ei:~~~ ~~:t~ t~~ 21:1• ~~OI~(zllF!(P, :~~ lCll~t~~, . iu~~ ernnunt n~~FSSer~- to make ~~p
t 1 f •~ -I~ ~ - ~
E t i~ ~ c u i~n~ ~ .~w ~ px~ in~~~,~ .hu.I J~' I11:l~IP witl~~ri th~r1~- l.;III tiu~-~ af1~•r ~~•rttt~~n notu•~• from ti~e V1ort~aRee ~
~tKtir~~ t1~~ arn~~>>r;t ~~f t'i~ dcfi~~cn~•i•, ~~•L~~•h r.ntic~~ tnac be Qi~rn h~• r~~e:i. if nt Anv 4imN th~~ \t~~rt~~ae~~r ehal!
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