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Home My WebLink About1479 i ~ 1 . . a The Mortg~or bereby covei~ants with tLe r4ortga~ee, thst he Ss indofesAihly s4ued of eaid land in !ee e~ianplu or such ~ther e.gtalet ~i sny as is statad horain; Ll~al, iio h~s full }~ower And tnwiul right to cnuvov tha samo • sa aforc~said; that tho land ia irec+ ~rom nll encumbrancea oxec+pt es horein othorwise reciteci; that a~id~4ort.gagor will make such furtt;er sssurancea to pmvo the~afon;said titte to said land i.a said I~4ortgagc~+ ss msy be reasi:N- ~ ably re~ uired, and that said Mortgagor does horeby fully warrant the titlo to said land, and evesy part t-1~erQOi~ i and will defeud the samo against the lawful claims of all pc»rsona whonisoever. . ; Pxoviu~~ Auw~Ye that ii the I~io~tgagor ehall pay unto ttie Mortgages thal ~ertaiA pmmixsory note, oi which the following is a subatantial copp, to wit: ~ ~ 27,0OO.OQ ~ Fort Pierce , ~on~ ! June 6 , 1975 • f ~ ; F~R YAt+UE RtiC~IVED~ the underaigned promise(s) to pay to { 1 THE LOZIEIS & NETTLETON COMPANY ! , a corporxtion organize~l and e~osting under the r lawa of ~ THE STATE OF CONNECTICigi°r order, the principal sum ot TWENTY SEVEN THOUSAND AND NO/ 100 ' DoUx~~ (i 27~00~.00 with interest fmm date at ; the tate of Eight & nne half per centum 1~~'0) per annum on the unpaid balance until paid. ' The said principal and intere.st, shall be payable at the office of ` The I~omas & Nettleton Compan~• ° 175 Orange Street ' ~ e~ aven,, Co n cti t Ob510 , or ai such other plsc~ ag the holde~ may deaignate in writing ; d~ve~ or mailed ~o ~hhe deti~or, in monthly installiYients of Tj,tp _ HUNDRED . SEVEN AND 63/ 100 Dollais i ~ (i 207 . 63 commencing on the firat day of _ AU~UST , 1975 , and continuing on the first day of each month ~thereafter until this note is fully pr_id, eacept that, if ttot sooner paid, ttie final payment - ; oi principal and interc~sG shall be due e~nd payubie on chc~ first day of . Y? 20oS j privilege is reserved to prepay at any time, without premium or fee, the entire i~ndebtedness or any part ~ thereof not less than the acnount o[ one installment~ or one hundred dollars ($100.00)~ whichever is less. Prepayment in full shall be credited on the date receivzd. Partial prepayment, other than on an installment due ~ate~ need not be credited until . j the next tollowing instaliment due date or thlrty days after such prepayment, whichever is earlier. ~ Ii sny deficiency in the payment of anp installment under this note i~ not made good prior to the due date ; of the next such installment, the entire principal sum and accrued interest shall at once becomc~ ciue and ~ay= ; eble without notice at t~he optaon of the bolder of this note. Fsilure to exercise this op~on shall n~t conatitute ~ ~ s waiver of the right to exercise the same in the event of eny subsequent deisult. In the event of default in the ; payraont of this note, and if the same ia collected ~iy an attorney at law, the undersigaed hereby agree(s) to ~ pay sll costs of collection, including a reasonable attorn~y's f~. ~ This note is secured by mortga~e of even date executed by the underoigned on certain propertp described - t~herein and represents money acbually us~d for the acquisit•ion of said property or.the impmvements thereon. . Pr~sentment, protest, nnd notice sre 1?ereby waived. - - _ ~ - [s~L~ - LESLIE J. _ C.~~SE1L ~ ~ - - ~ DANAYK. CASSELL ~ ~ ~ - [s~?L) _ - . - ~ ~ [s~L1 .4nd shall duly, promptly, and fully perform, discharge, execute, e~ect, complete, and comply with and abide b~• each and every the stipulations, agreements, .conditions, and covenants of said promissory note and of this ~ - n,o:t~age, then this r~ortgage and the estate hereby created shall cease and be null and void. ~ `~`he Mortgagor further covenants ss follows: . That he will pay the indebtedn~s, a9 hereinbefore provided. Privilege is reserved to prepay at any time, ~ ~itl,out premium or fee, the entare indebtedness or any part thereof not less t~::ara the amount of one installment, or one Lundred dollars (i100.00), whichever is less. - . ' 2. In order niore full~• to protect the securit~' of this mort~age, the :~-tortga~or, togetlier x~ith, and in ~ addition to, th~ u~ontLl~- pa~•u~ents under th~ terins of tlir note sec•urrcl he•reb~-, on the first da~• of each month ~ until tl?e said ~iote is full~• paid, will pa~- lo t}?e ~iortgn~ee, as trustec, (uncl~r th~ terms of this trust as lierein- ~ after stateei) the folloising sums: - _ i E (a) A sum equel to the ground rents, if any, next due, plus thQ premiums that will next become due and payable ~ i on poiicies of fire and other hezard insurance covering the mortgaged property, pl~.~s taxes and assessments ~ ~ next due on the mortgaged property (all as estimated by the b4ortgagee an~i of which the I~torigagor is ~ no~ified) les~ all sums already paid therefflr divided by the number of months to elapse before one month ~ prior to the date ~rhen _ such ground rents, pnmiums, taxes, snd assessments will become delinquent, _ _ such suma to be held by Mortgageeintrusttooay~sidgroundrents,premiums,taxes,andspecialassessments. ~ (b) The aggregate of the smounts payuble pureuan~ to subpara.graph (a) and those payable on the note secured ~ hereby, ahall be paid in a ai.agle payment each month, to be appl~ed +o the following items in the orde: stated: . - t (I) ground rents, taues, assessmente, fire, and olher hazard insurance premiums; - ~ (II) interest on the no„e secured herebyr and - . (III) amortizati~n of the pri~cipal of said note. - Any deficiency in the smount of suchag gregate monthly }~e.yment shall, unless made good by the Mort- ~ gagor pr~or to the. due date o[ the next such payment, const~tute an event of default under this mort,gap;e. At Mortga~ee's option, ~4ort~egor will pay a"late cl~arge" *?ot eaceedirig four per centum t4°Jo) of any install- ment when psid more than fifteen (15) days after the due date ther~f to cc~rer tLe extra expense involved in - handling delinquent payments, bui such "lats cl~arge" shall not be payable out of the proceeds of any sale " maiie W satisfy the indebte~ness secured }:ereby, u~iless such proceeds are sutficient to discharge the entire indebtedness and all proper costs and expenses secured thereby. . ~ ~ 3. 1[ the total of t}~e pa~-~nents n~nd~ h~- the ~'lortgngor un~les (o) of pnrngruph 2 preceding shall exceed - t}ie amount of pa}•!nenls actuull~- made b~- t~~e ~iortka~cc, a~ trustee, for ground rents, laxes nnd assessments, ~ and insurance premiwi~s, as the cf?se ma~= be, such excess sl?all Ue creditecl on suUsequent pa~~ments to be made ~ b~ tfie ti'Iortga{;Qr for sucl~ items or, at t4iortgugee's flption, as trustee, shall be refunded to Mortgego~. If, however, such montl~I~ pa~•ments shall not t~e suffi~•ienl ta pa}• s~ch itans when the same shall become d~e and pa~•able, then t!?e~~fortgagor shall pa~• to th~ :ltort~a~cc•, as trustce, nn~• a~uount necessary to make up - the de cie~ec~. Such pa}-jnent shall be ~na~lc K•it}?in tl~irt~- (30) da~s After w-ritten notice from t~~e ?viortgagee st~ting the amount of the daficiency, wl~ich notica may be given by mail. If at any time tt~e 1~lortgagor shall _ ~aflK24~ ~~cf1~"!S ~ _ . - - . . . . _ . . r~