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~ MORTGAGE ~ /G d ~ ) 7 ~ ~-Z,
Robert L. Rainwater and Margaret W. Rainwater
,
the mortgag~o=s, in rnnsideration of the principal sum apecified in the promissory note
hereafter described. received from HOLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporation organized and existing under the Lawa of the State of Florida, t6e Mortgagee, hereby
on this 4th ~~y of July , 19 6 mortgagea to the Mortgagee the real
property in S~ Lucie County, Florida, described as:
Condominium Parcel: Block _ J . Lot / 12 of HOLIDAY OUT
AT ST. LUCIE, a condominium, aoeording to t6e Declaration of Condo-
minium thereof recorded in Official Records Book 168 at page 1348, of
the Public Records of S~ Lucie County, Florida. As providtd for by the
Condominium Act of the Statutes of the State' ot Florida, (Chapter 711,
Florida Statutes, 1965 E~ Seq.) said d~cription in this oonveyance imcludea,
but is not limited to, all appurcenancas to the o~ndominium parcel above
described, induding the limited commoa elements aasigned thereto and
including the undivided intrrest in t6e common elements of said oondo-
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As aecurity for the payment of the promissory note of w6ich the foUowing is a oopy:
~ 4. 623. 27 Stuart, glo~, Julv 4 ~ lg 67 ,
For Value Received, I, we or either of ua pmmise w 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 che holder hereof may designace in wricing, the aum of Four Thousand Six Hundred Twenty-
three & 27/100 ~ll~~ w~~ ~audes intereat oa the rina amount loaaed, payable ia
60 ~;qual oonsecutive monthly inatallmeata of 0~ each, and the firat
inatallment to become payable on the lst ~ September , 1~~ , and
one such installment to become due and payable on the lst ~y ~~~~ng month
until the whole of said indebtednesa is paid, with interest from July 4, 1967
~ ~ at the rate of 6 per oent per annum after maturity.
! Ia the event of prepayment, a deduction from t6e amouat due on aooount of unearned
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interesc shall be allowed.
It is agreed that time is of the e.ssence of this oantract and that in the event of default in
payment of any installment for a period of t}urty days the 6older of this note may, at its option,
~ declare all the remainder of the said debt due aad aollectible and anq failure to exercise said
option ahall not aonatitute a waiver of the right to exerciae t6e ~ame at any other time. In the
event of default in payment of this note and if the aame is placed in th~ hands of an attorney for
rnllection, I, we, or either of us agree to pay all costs of aollection, including a reasonable att,ornty's
fee. In case payment shall not be made at maturity, the makera, sureties and endorsera joindy and
sevrnlly agree to any extenaions or renewals without fi~rthtr notice, binding ourselves for payment
t6ereof, as if no exte~nsions of time or forbrarancx of payment had been made or grantcd.
I, we or each of ua, whether principal, ~ecurity, guarantor, rndorser or other party hereto,
agree to be joindy and arverally bound. I or we, each further waive demand, protest and notice
of demaud, protat and noa•PaYmea~
Y A ~
s~ . .~dcw~ o~_i~i~~-.? gg.AL)
Robert L. Rainwater~
~ s/ (S~-)
- ~d M r aret W. R inwater
~ I. To make all papments required bp that note ar~ t6is mortgage prompdy when due.
Y. To pay all taxes. assaameats, liens and encumbrancea on that property promptly whm
due. If they are not promptly paid the Mortgagee may pay them without waiving the option to
foreclose. and such paymencs. with iaterat therc~o~ ft+~n the dzte of papment at t6e same rate u
apecificd ia tLat note, shall abo be xc.vred b~ this mortgage. f
3. To commit, ptrmit, or aufEer no waue, impairmwt or deterioration of the mortgaged
P~P~1•
4. To pay all ezperraa rea~onabt~ irxurred b~? the Mortgagee bc+c~use of failure of the
Morcgagor co compl~r wich che agr~eemena in t6ac note or this mortgage. including reasonable
actorneyi Eea. T6e co~t thereof, ~ritb intereu t6ercon from the da' of papment at the aame race
as sp~cified ia thst note. sball al~ be ~ecured b~ this aaortga~ge.
daaK17~ ~.,f;1388
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