HomeMy WebLinkAbout1002 f
~
.i
The Mort-~;ti~or Lorc~b~, coventt~~ts witt~ ltio A4ort};a~;«~, that lio is indotensH~1y soized of said land in fca
eimplo or such otl?nr c~t9t~, ?f any as is atated horein; ~I1t1L I10 I1t13 ~UU ~~K•or and lawtul righi, lo couve~• tliu sHnio
as aforesaid; that tho lsnd ia freo ~mni ~11 oneumbranees exc;c?pt t?.g hecoin othorwise rceiteci; tl~~t said rlortgagor
will niake sucl? furlher assurancc~g to provu thu aforc.9aid tatl~ lo sai~l land in said ~iort~agoo x~ ma,y bo i~c~.son-
~ ably required, nnd that said I1Tortg~goc does hcreby fully warrant the title to s~id land, and evcry part tLarcof,
and will detoud the attn~e sgainst Lho lawful el~in~s ot all persons wlionisopver.
PROVIDED AI.w~YS that if tho ?~iortgagor shall pay uato the Mortgagee tliat cortain pr~nvsaory note3, of
which tha follow•ing is a subsUant,ial copy , to wit:
= 42,000.00 Fort Pierce , ~'lorida.
June 4,~ 19 75 .
. FON VALUk: RkCE1VED~ the unde~i~ned promise(s) to pay to
THE LOMAS & NETTL~TON COTtPANY , a corpo~ation or~anized and existing under the
. lawa of THE STATE OF CO~INECTICUT, or order, the priucipal sum of FORTY TtdO T1i0USAND AND NO/100
Dollars (i 42 , 000 . 00 with interest from dR~ AL
the mte oi Eight & one half per cenium j~~'o) per annuin on the uupaid balance until paid.
The said principal and interest shall be payable at the office ~~f
The Lomas & Nettleton Company
275 0=ange Street '
~ ~ New Haven, Connecticut 065I0 , or al such other place x~ the holder may designate in writiag
delivered or tnailed to the debtor, in rnonthly installments of THREE HUNDRED Tj~1ENTY TWO AND 9$/f~ollara
322.98 commencin~ on the first day of AUGUST ~ 1975 ~~d continufug ou the
6rat day of each month thereafter i~ntil this note is fully paid, except that, if not soaner psid, the final payment
of grincipal and interest shall be due and payable on the first day oi ,TULY , 200~
- Privilege is reserved t~o prepay at any time~ Kzthout premium or fee, the entue indebtedness or any part
thereof not less than the amount of one installment~ or one hundred dollars {$100.00), whicher•er is less. Prepayment in full
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 after such prepayment, whiche~er is earlier, i
_ If eny deficiency in the papment of any installnient under this note is not made good prior to the_due date '
of tha ~ext such installment, the entire principal sum and accrued interest shall at onco become due and ~ay-
- able without notice at the option of the holder of this note. Failure to eaorcise this option ahall not constitute
a waiver of the right to exercise the same in the event oi any subsequent default. In the event of default in the - ~
• peyment of this note, and if ~he ssme is colleccted by an attornAy at1a~, the undersigned hereby agree(s) to E
pay all costs ot collection, including a reasonable attoruey's fee. . ~
This note is secured by mortgage of even date eaecuted by the undersigned on certain ptoperty descriued
- thece.in and represents money actually used for tLe acquisition of said property or the improvementa thereon. ~
Presentment, protest, snd noticP are hereby wai-red. , ~
. . F
~ • - i
- ~S&AL] _ . :
- j•7~IITLEY DAVIS, JR.
[s~r.~
- - KATRINA DAVIS -
~ ~ . - [s~L] ~
- [s~L)
~ And sht~ll duly, promptly, and fully perform, discharge, execute, ef~ect, ~omplete, and comply with and abide ;
by each and every the stipulations, agreements, conditions, and covenants of said promissory note and of ti~is :
mortgage, then this mortgage and the estste hereby created sh~ll cease and be null and void. - _ f
The Mortgagor further covenants as folloRS: - ;
1. That he will pay the indebtedness, as hercinbefore provided. Privilege is reserved to prepay at any time, ~
without premium or lee, the enti~e indebtedness ur any part. thereof not less than the amount of one installment, or
one hundred dollars (i1Q0.00), whichever is less. ;
I 2. ln oreler nior~ full~- to protc~c•t th~~ s~~c•urit~- of this niort~;a~e, thn ~~iortgn~or, together wit}i, and in
a~l~iition to, the ~i~~nthi~• }~a~'nients uncler th~ tenns of the~ not~ sec~ur~+d h~~reb~-, ~n tl~r fi~t dnt• of each month `
imtil the said not~• is full~• paicl, ~sill pa~• to th~ ~tartKa~~~~, ns truste~, (un~,~r 1~~~ tc~rnis o[ ihis trust ns herein- '
I a;ter statccl) thc follo~:~ing suins: ~
(a) A~um equal to the ground rents, if any, next due, plus the premiums that zvill next become due and payable
on palicies of fire and other hszard insur~nce covering the mortgaged property, plus tuxes and R~sessments
_ next due on the mortgaged property (all as estimated by the Nlortgagee and oi which the :~iortgagor_ is
~ notified) less all sums already paid therefor divided by the number of mon±hs to elapse before one month
prior Lo the date when such ground rents, premiums, t~axes, and a3sessments will become delinquent,
such suma to be held_by ~~ort-gageeintrusttopaysaidgroundrents,premiums,taxes,andspecialasse,ssments. ~
(b) The aggregate of the amounts payuble pursuant to subparagraph (a~ and those payable on the note ~ecured 3
hereby, shall be paid in a single paymenL each month, to be applied to the following items in the order_ '
atated: ~ . ~
'(I) ground rents, taxes, assersments, fire, and other hazard insurance prem:ums; ~
(II) interest on the note secured hereby; and - - ^ -
(IIi) amortization of the arincipal of ssid nQte.
}tnv ~efiriP~r_.v iI~ fhP amount of su~h ~;gre~Atp mnn4hl~ ~o j man± ~h~»~ ;~;;~~o,~,o ;;;w~~ ~~a~ h, ~
- gagor prjor to the due date of the next such payment, conslitute an event of default under this mortgage. ~
At 1~lortgagee's option, Mort~agor will pay a."late charge" not exceeding four per centum (4°J'o) of an~• install- ~
ment K~hen paid more than fifteen (15) days after the due dat.e thereof to cover the extra expense inr•ol~ ed in
handling dclinquent payments, but such "late charge" shall not be payable out of tHe proceeds of any sale - ~
made to satisty the indebtedness secured hereby, uuless such proceeds are suffic:Ant discharge the entire ~
inde3tedi tl
eto al,of tlpep ~~n~its~~ nrFel,Etl~c~io~ga~;orau ul~r (n) O~ PIII'il~i'ilQll 2 precrdin~ shall exceed ~
~
the nmount of pn~-~nents flctuall~- ~n~~l~ h~• tl~e ~tort~;n~;ce, fls truste~, for Krot~r~~i rcnts, tuxes and asse~cments, ~
and insurenc•e pr~~iuiuins, as thc~ casc~ ina~~ be, such eacess shall b~ ~reditecl c,n subsequ~nt na~•ments to be made '
b}• the ~fortgn~ar for sucl~ itcros or, ul Atortgn~ec's option, ais trustce, st~all b~ rcfunded to :~'Iortgagor. If~ ~
however, such inontl~l~• pnt-ments shull not b~ sufii~•i~nt to pa~• su~h it~ins ~•hen the same shnll become due
--~nd pa~•nble, then thc ~lortgt~gor sliall pnr lo tl?~ ~tortka~;e~~, as trustc~, ~n~• ainount necessarr to make up
the deficienc}-. Suc)~ pa}-~nent sliall be ina~le w-ithin.thirti- (:i0) dn~•s after written notice from t~ie Mortgagee ~
atating the amQUnt of t}~e deficienc3•, «•l~ich notice mas he gi~en hv mai1. If at, sny time thcs 1~lortga~ar sball ~
BOfllc~~li PAGF~Q~ ~