HomeMy WebLinkAbout1638 ' ° . ~ 1s4463
MORTGAGE
Renfro Construction Company and J. V. Renfro
_
the mortgagors, in consideration of the principal sum specified in the proraissory 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 17th_____ day of July _ 19 6~_, mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
Condominium Parcel: Blcek I_______, Lot 11 of HOLIDAY OUT
AT ST. LUCIE, a condominium, acrnrding to the Declaration of Condo-
minium thereof recorded in Official Records Book 168 at page 1348, of
the Public Records of St. Lucie County, Florida. As provided far by the
Condominium Act of the Swtutes of the State of Florida, (Chapter 711,
Florida Statuces, 1965 Et. Seq.) said description in this conveyance includes,
but is not limited to, all appurtenances to the condominium parcel above
described, including the limited common elements assigned thereto and
including the undivided interest in the common elements of said conda
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of w6ic6 the following is a copy:
~4, 866.60 Stuart ~ Florida, July 17 ~ 19 67 .
For Value Received, I, we or either of us promise to pay w t6e 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 designace in writing. the sum of Four Thousand_ Eight_ Hundred Sixty-
six & 50/100 Dollars, whicb includes interest on the principal amount loaned, payable in
60 ~ual consecutive monthl tallments of ~ 81 • rl each, and the first -
installment to become payable on the 2~t~ day of ~ctober 1967 ~d
' one such installment to become due and payable on the __20th___ ~y of each succeeding month
I until the whole of said indebtedness is paid, with interest from July 17, 1967
~ at the rate of 6__ per cent per annum after maturity.
i
~ In the event of prepayment, a deduction hom the amount due on acrnunt of uneamed
~ 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,
f 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 collection, including a reasonable attorney's
fee. In case payment shall not be made at maturity, the makers, sureties and endorsers jointly and
severally agree to any extensions or renewals without further notice, binding ourselves for payment
thereof, as if no extensions of time or forbearance of payment had been made or granted.
~ I, we or each of us, whether principal, aecurity. guarantor, endorser or other party hereto,
~ agree to be jointly and severally bound. I or we, each further waive demand, protest and notice
~ of demand, protest and non-paymen~
~ ~ 1~ C/ ' I'
~ s/ h~--------------------- (SEAL)
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5
~ a/ - - (SEAL)
- and agrees:
" 1. To make all payments required by that note and this mortgage promptly when due.
~ 2. To pay all taxes, assessments, liens and encumbrances on that property promptly when
r due. If they are not promptly paid the 1~iortgagee may pay them without waiving the option to
~ foreclose. and such payments, with interest thereon from the date of payment at the same rate as
specified in that note, shall also be setured by this mortgage.
~
3. To commit, permit, or suffer no waste, impairment or deterioration of the mortgaged
_ property.
- 4. To pay all expenses reasonably incurred by the Mortgagee because of failure of the
~ ' 141orcgagor to comply with the agreements in that note or this mortgage, including reasonable
- attorneys fees. The cost thereof, with interest thereon from the day of payment at the same rate
~ as specified in that note, shall also be secured b this mortgage.
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