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Home My WebLink About1836 . ~ The Mortge{;or heroby covensnts with the Mortgagee~ thst he is indefea.qibly sei~ of said land in foR eimple or auch uther eatate; tf ~u?y aa is state:i herein; th~t~ he has full powor an~i lawful ri.ght to couvev tl?c~ same aa sforesaid; that the la~d ie irc~s ~miu all encumbranc~ sxcept ~s borein otberwisa recited; tt~at eaid~tortga~or will make auch Iurthar e~sse~rances to provo the afaresaid title to said land in said Mortgi?gee as may be reasoa- ~?blyreq uired, and Lhst said Mortgagor doea hereby fully warrwnt the title to said land, and ovory part, therooi~ ewd will dai0nd the same sgainat the lawful claima oi all persons whon~soever. PROViuEn AUw~Ye that ii the I~iortgagor a1,all pay unto the Mortgages that coctain promisaory note, oi ~vLich the foUowiug is t? aubstantial copf~ to wit: a 47,500.00 Port St. Lucie ,F1orid~, ~ June 12 ? 19 75 • FOR YrRLUE R~C;~IVZD~ the undergigaed promise(s) to pay to THE LOMAS & NETTLETON c,02iPANY , , s oorporation organised and ezisting uqder the ~ la~vs of THB STAT~: QF CONNL'CTICUT or order, the principal sum of FORTY SEVEN THOUSAND FIVE HUNDRED AND NO/ 100-------------_________~t,~ 47, 500 ~ 40 wnth interest from date at the rate of EIGHT AND ONE HALF per ce.ntum (g 1~~J'o) per annu~ on the unpaid balance until paid. The said principal sad interest shall be payabla at the office of . ~ The Lomas & Nettleton Comp::azy 175 Orange Street ~~Iew Haven - Conn ct~i.~ut Q6510 , or at such other placE as the holder may designate in writing delivered or meiled to t~e e tor, tn monthly installments ofTHREg HU~JDREU sIXTY FIVE AND 28/1~4~ . ~ ~ 365.28 commencing on the first day of ~ ~ AUGUST 1975 , and continuing on the firat d~y of each month thereafter until this note is fully paid, eucept that, if_not sooner paid, the final psyment of principsl and interest ahall be due and payable on the first d~x of ,M,y , 2005 • Privileg~e ia reserved to prepay et any time, without premium or fee, tbe entire indebtednees or sny part thereof not less than the amount ot one installment, or one hundced doUus (~?100.00), whic6eFer is le~ss. Prepayment in full ~ shall be credited on thz date receirred. Partlal prep~yment, other thaa on ~n installment due date. need not be credlted until ~ ~ the next foliowing iustaliment due date o' thlrty days affxr such prnpayment, whiche~~er is eulier. . - Ii ony deficiency in the pa ment of any instaliment under this `note is not macle gaod prior to the due date of the next_such installment, t~e entire principal sum and accrued intereat ahall at once become due and Fay- able without notice at the option of the holder oi this note. Failure to exerc.ise thia option ahall not oonstatute a waiver of tbe right to exercise the same in the event of any subs~quent default. In the event of defe?ult in the payment of this note, and if the same ia colleeted by an sttorney st lsw, the undersigned hereby agree(a) to pay All costa of collection; i,ncluding a reasonable attorney's #ee. _ ' . - This note is eeeured by mortgage af even date ea~ecuted by tha unde~igned on ~artain pmperty described therein and represents money actually°used for the acquisition of said property or t~he itnprovement8 ihe~reon. ~ Preset~tment, protest, and ~notice are hereby waivtjd. - - ~/./~1.~ ~~~~~t...~'r-C-~ - - . '~/~:a"~~:-- ~ [SEAL] : - WI LARD L. BOLTON, _ ' TE W . ~ BOLTO [sEAI.J _ ~ - - [s~?L] ~ . ~ _ . - _ (s~?L) And shall duly, promptly, and fully perform, discharge, execute, eftect, complete, and comp~y with and abide ~ by each and every the stipulations, agreements, conditions, and covenants of said promissory. note and of this mortgsge, then this mortgage and the estate hereby cre~t,~d shall cease and be null and voad. - ~ _ The Mortgagor further covenants as followa: _ - - ~ - 1. That he will pay the indebtedn~ss, as hereinbefore provided. Privilege is-reserved_to prepay at any time; ~ without premium or fee, the A~tire indebtedneas or any part thereof-not less than the amount of ane installment, or . one hundred dollsrs (i100.00), whichever ix less. 2. In order ~nore tull~~ to-protect t}~~ s~curil.~- of tliis niorlgage, t1~e :~~iortgagor, togetlier with, and in ~ _ addition to, the monthl~- pa~•nients under th~ terms of tlie not.e secured herebl', on t}~c first da~' of each nionth until Uie suid note is full~• paiil, will pu~• to the ~lortgugec, as trustee, (under tli~ ter~~is ot this trust as liercin- ~ - aRer stated) tf~e fo~:o~sing sutns: ; (a) A sum equal to the ground rents, if any, nex± due, plus fhe premiums that will next become due ~nd payable ~ on policiea oi fi~e and other havard insurance covering the murtgaged property, plus taaces and asse.5sments next due on the mortgaged property (sll as estimated by thc; Mortgagee azd of which the Mortgagor is noti6ed) less~all sums slready pead therefor divided by the number of months to elapse before one month prior to the dete when sucu ground renta, premiume, taxes, and assessments- will become delinquent, such suma to be held by Mortgageeintrusttopaysaidgroundrents,premiums,taxes,andspecialsssessments. _ (b) The aggregate of the amounts payable pursuant to subparagraph (a) and those payable on the note ~cured _ hereby, shall be paid in a single payment ~ch month, to be applied to the foAowing items in the order . stated - - - ~ (I) ground rents, ta.xes, assessraenta, fire, and other hazard insurance premiuma; - (II) interest on the note eecured herebp; and - ~ ~ (III) amortization of the principal of said note. . ~ Any.deficiency.in the amount of such a~;gregate monthly payment shall, unless made good by the ~'Iort- ~ gagor pr~or to the due date of the next s~ich payment, com.:t~~ute an event of default under this mortgage. ~ At Mortgagee's option, Mortg agor will pay a"lat,e charge" not exc;eeding four per centum (4°Jo) of any install- ment when paid more then Siteen (l5) d~ys after the due date thereof _to aovsr the extr~ expense involved in handling delinquent ~ay ments, but such "late charge" shall not be payable out of the proceeds of any sale msde to satis~y the indebtedness secured hereby, unless sucli proceeds are sufficient to discharge the entire - _ ~ indebtedneas and ~11 proper costs and expenses secured thereby. _ _ 3. If the total of the pa~-ments n~ad~ b~• the blortgngor ur~der (a) of paragruph 2 preceding shall exceed the amount of pa}•menls actuull~• mad~ b~• tt,e i1'IortgaKec, as trustce, for ground rents, toxes and assessments, and insurance premiunis, as the case ma~ be, such excess sl?all be credited on subsequent payments to be made by the Mortgagor for such items or, nt. :~iortgagee's option, as trustee, s}iall be refunded to Mortgegor. If, ~ however, such nionlhly pa~•ments shpll not lx~ suffic•ient, to pa}- such items when the same shall become due t?nd pa •able, tlien tl?e ~iortgagor shnll pn~• to thc M~rtgogec, ns trustee, an~ a~i~ount necessary to make up - - the de~ciency. Sueh pa~•ment shail b~~ ~nn~lc Within lhirt}• (:30) da~s after written not-ice from the 11~iorigagee atating the amount of the deficiency~ whieh n~tice may be gicen bp mail. If et any time the Mortgagor ehAil 800!( ~~tJ PACE~~~ - - - - ,