HomeMy WebLinkAbout0153 i
1
. .
Tho biort};~gor lie~et~y ceven~r?ls ~~ith Uia 1lfort~;n~;ee, thst l~a is •i,~deles9ibly seiz~d ot said lanci in iee
aunpto or acch athor estat,c~t sn} us ia stat~cl hcrein; thE?t, ha hc~ f ull poH er anJ Iowftil righ6 to cauvc~• tlio ~nme
ea atoresaid; ll~at tl?o laiid ~s frau ~rora all E~ncumbrances oxc~pt ~s ticroin otlierwi~a rerited; that s~id hiortga~;or
wilt niske such t,irther assura~i~~~ ta provo the xfores.~aid title lo aaid land in said I~i~rtgagot~ e~ may be renson-
• ably requi~ed, and ~?~at sai~l ~iortgagor cloos hereb,y fully ~varrsut the t.iUe to saicl laud, and evrry par6 tliereai,
: snd ti~lt ~lPfend tho sauia against tho lawful cleinu~ o[ all pcraons wLouisoaco;.
PROVIaZU,Ai.w~ve that it tho ~iortgt~ar aball pay unto the Mortgagee that certain pmmis.aory nota, of
which Lhe following i~ a aubstanti~i cc~pS, to vqit:
i 2~~ 7~0.00 Fort Pierce , I~7~rida.
_ Apri~ 30 , I~ 75
s FOR VAi.UE ~~ECEIVEDr ttl@ Uil(~8[T3I~RL'(~ ~IOilll9@~8? t0 ~1ti)? t,p
E ,
. THE LOMA5 & NE~.ITLE'IdM C0.•iPANY
~ ~ - ~ , a corp~ratian organiged ac~d c~ting un~er the
lawa of the State of Conne~~icu~, ~'r order, the principal sum o ~fj~I~NPY EIGHT THOUSAM3 SEVF:N
_ NU1dDRII) and nc~~100-»-........----~~....-..--_--~oUaca (S 28.700.00 with interest from date at
' the rat~ of EIGIi~' AP~ ONF HALF per centum ~Jo) per annum on tFe unpaid balattce until paid.
` The said principal and interest ahail be payable at the oSice o~ ~e Lomas & Ptettleton Cotnpany
Pos~ Off'ice Box 964
~ ~ - _ - .
~ Virginia BeAeh~ ~lirginia 23~+51 , or at ~uch other p1acF as tt~e helder may deaignate in writing
delivered or mailed to the dehtor, in monlhly instalin~ents of ~p ~nd 70~100-- nollars ~
?_20.70 comn~encing on the fir~t day of . , 19 75, and continuing on the .
first day of each month thereaft~er until this note is iully ~aid, excegt that, if not soaner paid, the final paymenL
of principal and interest sha11 bo due and payable on the ficat clay of M&y~ , 2005
Privilego is r~served to prepay ab any time~ without premium or fee, t~ha entire indebtednea:. or ans par~
' thernof not less than ihe amount ot ane inat~llment, or one hundred do!lars ($100.00), whichever is less. Prepayment in full
shail be credited on the date received. Pariial ptepayment, other than on an installment due date, need not be credited untii
the nex! following instaliment du~ d~te or thirty days a[ter such prepayment, svhichever is ~arlier. ~
If t~ny deficiency in the ~a meni; of any instaltment under this n~te is not made gaod grior to the due dste
' o~ the naat such installment, t~e entire pri.ncipal sum and aGCrued interest shall at once becomQ due an3 ~ar~
abla wit~out notice at 4he option oi the Lolder of this no~e. Failure to exercise thi~ optiou shall not constitute -
- a waide.r of tbe right to exerc~sc~ the sam~ ic the even~ of any subset~uent default. In the event of default in the
~ ~ayment of this note, arid if the same ia collect~d by sa attomey nt law, the undersigned horc~bp agree(s) to
pay all costa of collection,-includ~ng a reasonable attorney's fes. - .
This no~e io secured hy mortgage of even dRt4 eaecuted by the undersi~?ed on cert~ain properts described ~
- therein a~d regre~ent~s money actually used for t!?e acquisition oi said pmpertv or the improvementa thereon.
Presentment, grotest, and noLice are herebl waived.
. -~•-~~f- ~:17i1tIP~ (~i_I,~j~ lS'~l.r~
_ SAMtfEI, C. DAVIS
- - _ ~ ~s,l_. ,`~c.7~,r1-.~..__.~,s~V3,s-__-____~_~------- [sEAL~ _
_ TERRYL J. DAVIS -
. - _ _ - ~ [s~L]
- _ . - [s~+L)
- And shall duly, pr~mptly, and fulfy perform, dischar~e, executP, e~iect, cemplete, and comply with afld abide
by each and ever~ the stipulations, agr~ements, conditions, und covenants of said promissory note and of thia
~ mortgage, then t:.is mortgage and the estate hereby created shall cease and be. null and void. -
The Mortgagor further covenants as follows: - - ~ ~
~ - 1. That he ~vill pay the indebtedn~ss, as hereinbefore provided. Privilege is reserved to prepay at any time,
- without premium or fee, the entire indebtedness or any part thereof not less thsn the am~unt of one inst.allment, or -
one hundred dollars (~100:00), wh~chever is less. - "
~ 2. lu order inorc~ fuil~• to protect t}ie securit~- of this n~ort~nge, tlie ;~iortga~or, tobether with, and in -
I'~ a~l~lition io, th~ n:onthlt~ ~?n~'nients uncler thr tertns of tht~ note sc~c•urrd hcreb}•, on tht- first tltt~- of ~a~h inonth
j_ tiniil the said note~ is fiill~~ paicl, ~a•~ll pa~- to th~ :lfort~a~~~, as truste~, (ui~dc•r t~ir~ t~~rnis af t~iis trust ns 1?erein-
I: nftrr statec!) thc frllo~~•ing sun~~• - _
~ (s) A sum equal to the ground rentg, if any, i~ext duz, plus the prerniums that will next become due and payable
- on policies of fire and other hazard insurance covering the m~rt~aged praperty, plus taxes and flssessments -
ne~:t due on the mortgaged progerty (all as estimated by the 3~fortgagee and of which the ~ iortgagor is `
notified) less all sums already paid therefor divided by the numher of montlis to elapse before one month ~
prior to the date when such ground rents, premiums, ta~ces, and as.sessments will Lecome delinquent,
such sums ta be held hy hiortgageeintrusttopaysaidgroundrents,premiums,taxes,andspec;aln..esessments. ;
~ (b) The aggregate of the amounts ~aynble pursuant to subparagraph (a) anc~ thes~ pa3~able on the noiE secured ~
_ hereby, ~hall be paid in a single payment each month, to be applied to the following items in the order ~
- . ~ atated: -
(I) ground rents, taxes, assessments, fcre, e.nd other hazard insu:-aaee premiums;
(II} intereat on the note secured hereby; and ~
tIII) amortization of #he principal of said note. - ;
- Any deficiency in the amount of such ~gre~ate monthly pa~~xnent shall, unless made go~d by-the I~Torf; '
' ga~;or pr~or to the due date of ilie next such payment, constitute an event ot default under this mortgage.
AL ~Zortgagee's option, Mort~agor will pay a"late cl~arge" not exceeding four per ceatum (4°fa) ef any install-
ment when psid n~ore than fifter.n (15) ~iays aiter the due date thereof to cover the extra exp~n~e involve~ in
handling delinquent payments, ~uf, such "late charge" shall not be T~ayable out of the proceecis of any sele
- m~de to satisty t.he ~n~ebtedness secured hereby, uiiless such proceeds are su~cipnt fa djscharge the enxire
indebt.edness and ell proper costs and expenses sec~red thereby. _ _ = ~ _ ~
3. tf the iotal of t}?e , a}-~~~ents ~nn~ic~ F~~- .the ~lortgagor und~r (a) of para~raph 2~rececling shsll exresd ~
the amaunt of pa~•nie»ts nct~~tl~- ~nnd~ b~~ t~ic \1ort~;u~;ce, as !ruste~. for~;roun~l re~nts, tnses and assessments, ~
and insurat~ce pr~ii~iuFUS, ns. th~ case nia~~ b~, su~h excess sf~sll be crediled on subsec~uent na~~ments to be made ~
b•• the ~iorlgA~;or for such itcu~s or, ut~~tortgnKet~'s opiion, tis truster, sl~ell be re(uncled to ~tortga~;or. If, ~
. however, such nianthl~- pa~•ments shal~ t~ot br su~rient to pa}- surh it~ms ~vheii t~~e sarne s}:ail l~ecome due ;
_ and pn~•~ble, tlie:: tlie~~lort~n~or c4~nll pn~• to th~ ~tort~p~t-~~,, ns truste~, ~n~- ~niount.~nececsAr;~ to make up ~
t}ie de~icienc}-. ~uc1~ pa}•mc•nt s1inU br ciiaclc• ~~~itl?in thirt}- (:i0) dn~•:: flfter written not.icc~ from tj?e Mortgagee
stating the amount of the deficiency, K hich notice may be gireii b_y tnail. If at anp time the 141or ~
tgagor eh~il _ ~
' - - - RODK ~¢e~e~ ~J1Gf ~