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Home My WebLink About2065T6e hlorlgagur hereby covenaat,a wi~h the I~iort~agc~~ ths~ he is indeteacibly seized oi said l~ad in tee •imple or such ot,hes ebtnte~ J any as ie stat,ed herein; ll~a1. he has f ull power and Iswtul right to convev the same ~s at~~resaid;lbst ~he Ignd is free ~rnm all eacumbrances excepL as herein ot~~erwise recit~ed; tha6 sAid~iortgagor ~viU muke sucu further assurancea to provo tbe ato~esaid Lille to said land in said Morlgagee us msy be reuson- sbly requircd~ and L6ot said biorl$agoc Joes hereby fuUy wa~rsnt the title ~o said land, and every pert ll~e~eot~ and will detead ~he samo against ~Le lawful claima o[ W peraoue whumsoever. Paov~~s~ ALwr~YS thst, it the !-io~tgagor s6a11 pay unto the Mortgoges W~t, oe~tain pmminaory note~ oi which the following is a substanti~t oopf~ b wi~: ~ 32,OOO.JO t'~R'f ST. LUCIE ~ ~~~ ~tAitCtl ~ 1981 , Foa VwLUS R~cstvs~~ the underaig~ed proraise(s) to p~y to a oo nti~ o~j ~AsedC~~iT_ A~, C~pder tbe laws of rP° ~B~- ~'~a°a Tilt STATE Or tJE~I JERSEY or order, the principal sum of Ti~IRTY-TWG Tt~OISAND Al:~ "~0/ l OJ ---------- Dollsrs ~_ ). ~rith interest lrom date at t6e rst~e of ~ .-- . per ~~~m2, 0.00 Tf~IRT EtJ At!J O:Jr.-~IA 13. ~%) per annum on the unpaid balanoe until paid. 'T6e ea~d pnnc~pa~ an~ intereat ahall be pay~ble at tbe o ce a( - SUBUt3At~ COASTAL CORP. P. 0. f3~JX 1328 ~ PAS~AIC, iJE~J JERSEY 0~055 . or at euch oL6er pb-oe ae t6e holder may deeignate in ~vriting delivered or mailed to the debtor, in monthly installments oi ~~qEE !IU,':DRED SIXTY ~IX AND 53/100 ---------------------------------------- Dollare (= 36~ • 53 ), commencing on the first day of ;~~,y , 19 g ~ , and continuing on tbe 6rst day of each month thereafter until this note ie tully paid~ eacept that, if not eooner paid, the 6na1 psy ment oi principal and int,erest shall be due and payable on the firat dsy oi A ~ Privilege is reserved to prepay st sny time~ without premium or lee, the eni~i~re mdebt~edneea or any part thereo[ not less than the amount ot one installment, or one hundred dollus (=100.00). whichever is less. Ptepayment in tull shall be credited on the date rec~i~ed. Putial prepayment. other than on an insWlment due date. need not be credited until the next [oUowing installment due date or thivty days a[ter such prepayment, whichever is eulier. Ii any de6ciency ia the payment of any instullment under thia note is not made good prior to the due data of the neat such installment, the entire principal sum and accrued interest shall at once become due and pay- able without notice at the option ot t6e 6older oi this note. ~'ailure to exercise this option ahall not oonst~tute t w aiver oi the right to exercise the same in the event o! any subsequent default. In the even6 oi default in the payment ot t6is note, and it the same is collected by an sttorney at law, the undersigned hereby agree(e) to pay all costa of collection, including a reesonabte attomey's iee. Thia note ia secured by mortgage of even date eaecuted by the undersigned on certain praperty described therein and represants money actually used for t6e acquisition of said property or the impmvements thereon. Presentment~ protest~ and noticA are hereby waived. /SI_ JA;1~ LO'1,r, F'~Z E:;TO:~, T I ----- ~~yJ ~ JA'•1~ LO:JG Pc2EST~;1, II /S/ . . ---------- [~-L~ /S/ [~J IJI [s~r~L] And shall duly, promptly~ and fully perform, discharge, execute. eRect, complete, and comply with and abide by each and every the stipulations, agreements, conditions, and covenants ot eaid promisaory note and of this mortgage, then this mortgage and the estate hereby created sh~i ceage and be null and void. The Mortgagor further coveasnts as fotlowa: 1. That he will pay the indebtedness, as hereinbefore provided. Privilege ia reaerved to prcpay at any time, without premium or fee, the entire indebtedness or any pert thereof not less than the amount of one installment~ or one hundred dollars (5100.00). whichever is less. Prepayment in [ull shall be credited on the date received. Partial prepayment, other than on an installment due date, need not be credited until the next following installment due date or thirty days afler wch prepayment, whiche~er is eazlier. 2. In order mor~ full~• to protFCt th~ s~~~~urit~- of this n-ortRa~~, tl-c ~1ort~e~or, tog~Ih~r with, and in ad~lition to, th~ monthl~• pa~•~nents und~r th~.tPnnt ~~f th~• not~ s~~ured h~reb~•, on thc• first da~• o( ~ach rnont}- until tl~e sai~l nM~ is full~• pai~l, will pa~• to the L1ortKn~~~, as trustee, (und~r th~ tern~s of th~g lrust as h~rein- aft~r stetecl) th~ fullowin~ sums: ~(s) A eum equal to t6e ground rents~ if any, next due, plus the premiuma that will next become due and payable on policies of 5re and other hazard insurance covering the mort~aged property~ plus taxes and as.sessmenta next due on the mortgaged property (sll aa estimated by .the Mortgagee and of which the ?V'ortgagor is notified) less all aums already paid therefor divided by the number of montha to elepse befo~P one month prior to the date when auch ground rents~ premiums, taxes, and assessments will become delinquent, such sums to be 6eld by Mortgageeintrusttopaysaidgroundrents,premiums~taxee,andapecialas,gessments. (b) The aggregete of the amounts payable pursuant to subparagraph (a) and those payable on the note secured hereby, s6all be paid in a single psyment each month, to be applied to the tollowing items in the order etated - (I) ground renta, taxes~ sa9es4menta, fire, and other 6asard insurance premiume; (II) intereat on the note eecured hereby; and . (III) umortization ot t6e principal of eaid note. Any deficiency in the amount of such a~~reQate monthly payment shall, unless made goocf by the l~iort- gagor pr~or to the due date of the next su~h Pa~•ment,, constitute an event of default under this mortgal;e. At Mortgagee's option, Mort agor will pay a"Iste cl~ar~e" not eaceeding four per centum (4°Jo) of any install- ment when psid more t6an ~Iteen (15) dsys after the due date thereof to cover the extra eapense involved in hsr~dling delinquent Pay ments, but such "late charge" shell not be pa_yable out ot the proceeds of any sale made to satisfy the ~ndebtedness secured hereby, uiiless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. 3. It thF total af Ih~ pa~-nu~nts ~nn~i~ h~- th~ !~tortRa~or un~lrr (a) of pnre~rnph `l pr~~cdinR shaU cacced the amounl of pa~•~n~nts a~tuull~• n~a~l~ t-~- Il~e• :~1ort~;ak~~i~, s.c truste~, for Kroun~l rrnts, tux~~ and assesaments, and insuran~F pr~iniunis, as Ui~~ ~•a~e Ti~a~-~lx~, su~h Px~~ss shall 1-e~ ~redite~l on sul~~q~ent pa}•m~nt.g Lo be tnade b~ lhP VtortKaK~-r for su~h it~n~c ~r, ut~ `tortgnR~e's option, a.a trustep, shaU be rPfuncied to `'fort,gagor. If, how•evPr, su~h ~nonlhl~• pa~-m~nts sl~nll n~t i-c~ sufli~•i~nt 1~~ pa~- su~h it~ius when the same shal) become due and pu~-ublF, th~n Ih~ ~tortRa~or ~hall pn~• 1o th~ ~tortRa~,•~i~, :~.s truste~, an~• a~uount neceasery to m~ke up the de~i~•iFn~~•, tiu~•h pa~~incnt shnll br u~a~l~ ~•ithin thirt~• (:i0) da~•c aftPr written notice trom the Morigagee atatinR thP am~unt of the deficicn~t•, w•1~ich notic~ may be RivPn by mail. If at any timP thP Mort~agor •h~11 ~ ~ ~~ ~~ F~ ~ -o c T ~ V3 tP~