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Home My WebLink About1889The Mortgyto~ 6ereb~ cover-ant~ with the Mortg~gee~. tLat be i~ indetewbl seised ot said Isad io fe~ aienple or such ot6er estatet d~ay aa ia stated Senia; lb~t, he daa Iull power aad la~u! rig6t b ao~~e~ tbe s~-~as a~ ataresaid; ~h~t l6e bud u iree ~rom ~ll encumbnnces except, a~ b~reia otherwiss reat~ed; ~~t ~aid I-iortg~ot will make suc6 lurther ~ssunnces to pro~e tLe aforosaid tille to said laad in said Mottgagee as ma~ bs rea~oa- ~bl req uired~ and t~u~ said Mortgagoe Joes 6ereby full ~runt-~ fbe liue b s~id laod~ aad e~eq part thereoi~ ~~~rill detend t6e ~ame ~gaius~ t~Le bwtul claims ot ~ per~oos wboaiwever. PROYIDiD A6NAT~ th~t ii tbe ?11oHg~gor shall p~~ uab Ws Mortt~ tbat osctaia pe~omirar~ aots. d w6ic4 tbe followi~ u a sub~t~ntial oopJ~ to wi~: s 3T,ooo.oo E7. PIERCE . ~+~ JANUARY 29 •1~ $1. Fo~ Vwuvs R~csnrsa t6e unden~ned protnise(~) b p~yr b a oorporsw'Son~~~ ed~aad T~~uader t,he bws at THE STATE OF N~,1 JERS£Y or order, the prinppal sum o~ THIRTY~SEVEN THOI~AND AND NO/ 100 ~ Do11an (i 3?•~•~ ). with intered fe+om d~t~e at t6e rste d THIR'~EN AND 0l~IE-HAlF ~ oeatum l3.5 %J P~ uinum oo ehe unp~id balanoe anti! paid. -aDe eaid priaeipal aad ia~ dull be W-Yabk ~-t tbe o~a ot ~ PA~.SS~AI~CN, CN~TJERSEYP.O fi~5. 0. BOX 1328 , a at sueh Mber pi~ as t6e ~older m~~ d~ei6nate in writin~ ddivered or mailed to the debtor, in monthhr installments d FOUR HUNDRED ~iE!~iREE ND 80/ 100 -- a ' ~ MpRCH , 1~ 81 , ~ ~~d ~ _ (~ y23, 8 0 ). ooma~eacin on the s,se a. ot the fiest da~ oi eacD month thenaiter unW tbis not,e is inll~ ~id, ezoept t6at, it not woner paid. tbs 6na1 ps7 ment oi principal and interest ahall be due ~ad p~yable on t6e fint daj d , Priri4+~e ia reserved to pnpay ~t an~ time; without~premium or lee. tbs ~t~~t,ednas or anj~P~+t thereof not less tdan tl~e amouat oI oae instaUmeat, or oae hundred doUaes (=100.00}~ wLiebr~er is le~, hepay~at io fuli sbaU De credited on tAe date receired. ParWl ptepayment, otl~er t6an oo m lasLlla~eat due date, need aot be aedited antil t6e nent Idlov~la= ia:tallment due date or tAUty d~ys atter sucb prepayaient, w6kLe~rer is earikr. Ii ta~ deficiency in the ps ment oi any installment under thia note is not made ~ood prior to tLs due dats oi the neut such inataWnent, ~e entin principal aum snd accrued in4,r~st s6all at onoe beoome dus aad p~~- able without notice at the option ot the 6older o! Wia note. Failure to e:ercise tbis option ~6a11 not eonst~tuts ~ waiver of the right to esercise the sama in the evwt oi any subsequent detaul~ In t~e e~eat of detaWt in tbs payment of this note, and it the aame ia coIIected b~ an attorne~ at law, tLe nnderaigned 6ereb~ ~g:+ee(~) to ps~ all oosts o! oollection, including a reasonable attorne~'s fee. This note ie secured by mortga~e of even date execut~ed by the nndersigaed on eert~ain propertj deseribed tLerein and npresente money actually used !or We ~oquiaitioa oi aid pn-pertj or tbs impro~emenis t~,eoa, Presentment~ proLest. and not,ioe are henby wai~ed. /S/ ROBERT I. AYCOCK ~~~ ROBERT I. AYCOCK f ~ ~~~ /~~ [~] ~~ [~] And ahall dulY. Promptly, and fully pedorm, diachar~e, e:ecuce. eHeec, oompkt,e, and oomply ,.ich .ad abide by each and every the atipulations. aareementa, oonditions, aad ooveaaAts ot aaidp~o mieeory note aad d tbis mortgage, thea thia mortga6e and tbe eatate her~eby created ehall oease aod be null aad void. Tde Mortg,agor further oovenauta aa toUmrs: ~ 1. That he willp~ y We indebtedne~s, aa heraabeion provided. Privik.~e is r~nrod to pnp~Y ~~1 v~. ~vithouL premium or fce, tlie mtire iadebte~nees or any psrt tber~eof ao~ lees thaa t6e :aiwnt at ane indallmmt, or one hundred doUara (;100.00), w6ichever is lese. Prepayment ia full shW be e~edited on ffie date recei~ed. tartiai PrePaYment, oUxr thm on an installment due date, eeed not ~be crMited ~til t6e aeit toilawin= i~tallment due date or thirty days after such prepayment, whicbever is eariier. ' 2. In order ~nor~ full~ to protect the securil~ of thss mortgag~~ the Mortga~or~ to~ether ~vith~ and in addition to, the monthl~ pa~u~ents under the terms of tl-e note secured hrreb~, on the fust da~ ot euh month until tl~e said note is tu~l} paid~ wi1) pa~ to the Mort~ag~e, as trustee, (under tt~e ternis ot this trust as hetrin- atter steted) tl~e following swns: (a) A eum equal to the 6round renta, if aay, ne:t due, plua the pr+emiums tl~at w~7f n~t beooo~e due aad P~T~ on policies ~ fire and ot6er hasard iasuranoe eovenn~ t6e mort~a~ed ProP~~Y. P~ taues and aa~e~nmta nact due on the mort~aged property (~Il as eatimated by tbe Mort~ee aod of whieh tLe 11~ort~or is ~ noti5ed) Iess aU sums already paid t6erelor divided by t6e number ot mooths todapse b~fa~ aoe month prior to the date when such 6round rents. Pc+emiuma, ta~es. and a~ts will t~eoome ddioqueat, auch sums to be 6eld by Mort;egeeintrusttopayaaid6roundraita,premiums,t,a:es„aadepeeiaias~ea~eata, (b) The aggregatt of the amounte pa aWe pur~uant to eubpara6raph (a) and thoeepa abk on tbe note ~eeured Y 6ereby, s6a11 be paid in s sin~e Ps~-meat e~ mo~t6, to be applied to tbe t~ items in tbe ordes s stated ~ . (I) 6round renta, ta:ea, aea~emente, fire, and otber La:ard inauranoe premiumr ~ (In int~nat on tbe note eecared hereb~; and ~ (III) amortisstion ot the priacipal ot aaid not~e. ` Any deficiency in the amount of auch aggregate monthly payment shall, unleas mad~ good bv the Morfr gagor pr~or to the due date ot the next such psymen~. const~l.ute an even~ o! default uoder this awrtgage. ~ At Mortgagee's option~ Mort,gagor will pay a"late ct~uge" not esceeding tour pex centum (4%) oi any i~stall- ment when paid more thaa 6iteen (15) days atter the due dat~e thereoi to oover the e~ctra eacpease involved in ~ handling delinquent paymenta, but such "late charge" shall nat be payable out of the proceeda of any sale ~ made W satisty the mdebtrdness secured hereby, unless auch proceeds are w6cient to d~ac6arg~e the entin indebtednesa and all proper coats and expenses secured t6enby. 3. ~1f t6e tota) of the pa~ments n~ad~ b,• tl~e Mor1Re~;or undPr (a) of pua~rapls 2 precedinR sh~11 e~cceed t}~e emount o( pa~•mentR actunll~ ma~l~ b~• tl,e ~fortKa~ec, as trustec, for ~round rents, t:xes and asxs~r-ents~ and insurance premiwns, as thP ~ase mar~bP, su~h exceas shall t,r crcditeci on subsequent ~~-menta Lo be made bv the MorigaE;or for su~l~ items or, at :NortgaRee's option~ a~s trustee, shall be r+efunded to Mortg~asor. ' If, however, su~h u~onthl~ ps~ ments ~hall rMt Ire suffi~•ient to par such iten~,s when the same sha11 become dne ' and pa~•able, then tl~c~141ortRa~or shnll pa~• lo th~ ~iortRa~er, as trustee. ~n~ arnount necrssary to mslce up the de~icienc~. Su~li pa~mcnt sl~nll bP ma~ie within thirt~ (:i0) d:~-~ aftet writien notice from the Mort;s~ee -' etating thP smount ot the deficiency, wl~ich notice may be given by m~il. It at an~ time tbe Mortgsgor sha11 ~ ~_ ~~ ~P -~.l -o ~ T F"a ~ ~.+~ ---- _ _ . ~_. __. _ ..~.~ ~- . - - - - .'.T- '- __f.- -.='" _ .~ .'. y t :~~T~~_ s£E ,3.,:'~~~~a:- ~~S I 11 I