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- - - MORTGAGE ;
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John B. Maloney and Frances A. Maloney _ ,
the mortgagor ~ in consideration of the principal sum specified in the promissory note
hereafter described. received from HOLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporation organized and existing under the Laws of the State of Florida, the Mortgagee, hereby
on this _ 2nd___ ~y of ~il lg_67, mortgages to the Mortgagee the real
property in St. Lucie County. Florida, described as: '
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Condominium Parcel: Block _F_______~, Lot ~
5___ of HOLIDAY OUT !
AT ST. LUCIE, a condominium, according to the Declaration of Condo-
minium thereof recorded in Off icial Records Book 168 at page 1348. of
the Public Records of St. Lucie County. Florida. As provided for by the
Condominium Act of the Statutes of the State of Florida, (Chapter 711,
Fiorida Statutes, 1965 Et. Seq.) said description in this conveyance includes,
but is not limited to, all appurtenances to the rnndominium parcel above
described, including the limited common elements assigned thereto and
including the undivided interest in the common elements of said condo-
minium. '
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of which the following ia a oopy: t
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623 _ 27 Stuart , Florida, Anri 1 7 . 19b.Z. ~
For Value Received. I, we or either of us promise to pay to the order of HOLIDAY OUT ~
IN AMERICA AT ST. LUCIE, INC., at Post Office Box 161, Stuart, Florida, or any other place
as the holder hereof may designaee in writing, the sum of Four Thousand Six Hundred Twenty- ~
three & 27/100 ~llars, which includes intereat on the priacipa1 amount loaned, payable in
60 ~ual consecutive monthly inatallmenta of ~ ~~'05 each, and the first
installment to become payable on the ~1D.th__ day of ~~r~ ~ , 19_S~Z, and
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one such installment to become due and payable on the day of each succeeding month
until the whole of said indebtedness is paid, with interest from APri l 7, 196 7
at the rate of 6 per cent per annum after maturity. i
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In the event of prepayment, a deduction from the amount due on account of unearued
i interest shall be allowed. '
~ It is agreed that time is of the essence of this contract and that in the event of default in
~ payment of any installment for a period of thirty days the holder of this note may, at its option,
~ declare all the remainder of the said debt due and collectible and any failure to exercise said
~ option shall not constitute a waiver of the right to exercise the same at any other time. In the
~ event of default in payment of this note and if the same is placed in the hands of an attorney for
~ collection, I, we, or either of us agree to pay all costs of oollection, including a reasonable attorney's
~ fee. In ~ase payment shall not be made at maturity, the makers, sureties and endorsers joindy and
severally agree to any extensions or renewals without further notice, binding ourselves for payment
thereof, as if no extensions of time or forbearauce of payment had been made or granted.
~ I, we or each of us. whet6er principal, security. guarantor, endorser or other party hereto,
agree to be joindy and severally bound. I or we, each further waive demand, protest and notice .
~ of demand, protest and non-paymen~ _ -
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~ and agreta: ~ ~ ' ~ ~ ~
~r 1. To make alI payments required bq that note and this mortgage promptly when due. ~
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=y 2. To pay all taxes, assessments, liens and encumbrances on that property promptly w~en, ~ v~~
~ due. If they are not promptly paid the Mortgagee may pay them without waiving the option to
~ foreclose, and such payments, with interest thtreon from the date of payment at the same rate as
specified in that note, shall also be secured by tt~is mortgage.
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~ 3. To commit, permit, or suffer no waate, impairment or deterioration of the mortgaged
~ property.
4. To pay all expenses reasonably incurred by the Mortgagee because of failure of the
~ Mortgagor to comply with the agreements in that note or this mortgage, including reasonable
attorneys' fees. The cost thereof, with interest thereon hom the day oE payment at the same rate ;
~ as specified in that note, shall also be secured by this mortgage.
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