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HomeMy WebLinkAbout1677 MORTGAGE 16448:~ Ernest W. Albrecht and Doris A. Albrecht _ the mortgagors, in consideration of the ptincipal sum specified in the promissory note hereafter described, received from HOLIDAY OUT 1N AMERICA AT ST. LUCIE. INC.. a corporacion organized and existing under the Laws of the State of Florida. the Mortgagee, hereby on this 7th ~y of _ Apr i 1 _ . 19 6~_, mortgages to the Mortgagee the real property in St. Lucie County, Florida, described as: Condominium Parcel: Block F_________, Lot ~__20 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 for by the Condominium Act of the Swtutes of the State of Florida, (Chapter 711, Florida Statutes, 1965 Et. Seq.) said description in this conveyance includes, but is not limited to, all appurcenances to the condominium parcel above described, including the limited mmmon elements assigned thereto az?d including the undivided interest in the common elements of said condo- m~inium. THIS IS A PURCHASE MONEY MORTGAGE As security for the payment of the promissory note of which the following is a copy: ; 4,~23 . 27 Stuart , Florida,'~'Pril 27 , 19 6~. For Value Received, I, we or either of us promise to pay to the order of I~OLIDAY 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__Six Hundred Twenty- three & 27/100__ Dollars, which includes interest on the principa1 amount loaned, payable in 6~,___ equal consecutive monthly installments of ; 5__~____^ each, and the first installment to become payable on the 1 5t h ~y of June 19 b' 1 ~~d one such inctallment to become due and payable on the 1 St:~ ~y of each succeeding month until the whole of said indebtedness is paid, with interest from _!z'~r i l_ 2 7, 196 7_ at the rate of ~6_ per cent per annum after maturity. In the event of prepayment, a deduction from the amount due on account of unearned 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 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-paymenG a/ r~,est W. Alb ech Y (S~) s~ e~ '".G~-t1~ ~ _ __c.' _ (SEAL) and agrees: Doris A. Albrecht l. 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 due. If they are not promptly paid the Mortgagee 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 secured 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 tlTort~agor to comply with the agreements in that note or this mortgage, including reasonable :ittorneys 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 by this mortgage. BOOKI~O PAGE1~7~ ~ _ ~ - _ - - x: ~ y~~.~;, _ E - ~ '