HomeMy WebLinkAbout1425 ~ ~ /GG~o ~ . s .
MORTGAGE ~i:~ ~ ~ti
C. Willard Morgan and Maybelle T. Morgan
,
the mortgagor ~ in consideration of the principal aum apecified in the promissory note
hereafter de.scribed. received from HOLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporation organiud and existing under the Laws of the State of Florida, the Mortgagee, 6ereby
o~ ~ 25th ~r of Februarv , 19 67, mortgages to the Mortgagee the real
P~P~Y ~ 5~ Lucie County, Florida, described aa:
Condomiaium Parcel: Block B . Lot / 19 _ of HOLIDAY OUT
AT ST. LUCIE, a condominium, aocording to the Declaration of Condo-
minium thereof recorded in Official Recorda Book 168 at pagt 1348, of
the Public Rro~rds of S~ Lucie County, Florida. As pmvided for by the
t:ondominium Act of the Statutes of the State of Florida, (Chapter 911.
Florida Statutea, 1965 EG Seq.) said description in this oonveyance includea,
but ia not limited to, all appurtenances to the oondominium pareel above
dcscribed, induding the limited rnmmon elements aasignod therew and
including the undivided intrreu in the oommon elements of said o~nda
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of whic6 the following is a aopy ;
; 4, 866~60 Stuar't , Florida, 'ar}l~, 19~Z.
For Value Received, I, we or eithCr of ua promise t,o pay to the order of HOLIDAY OUT
IN AMERICA AT ST. LUCIE, INC., at Poat Offioe Box 161, Stuart, Florida, or any other place
aa the holder hereof may designate in writing, t6e aum of Four Thousand Eight Hundred Sixty-
six & 60/100 ~llara, which indudes intereat on the principal amount loaned, payable in
60 ~qual c~onsecuuve monthly installmeats of ; 81.11 each, and the firat
installmenc to booome payable on th~ ~ a-h day of A=
ri 1 , 19~Z, and
one such installment to beoomc due and payable on the ~ M-}+ daq of each succeeding mont6
February 25, 196?
until the whole of aaid indebtednesa is paid, with intereat from ~
at the rat,e of 6 per cent prr annum after maturity.
In t6e event of prepayment, a deductioa from the amount due on aooount of unearncd
'i interest shall be allowed.
` It is agrecd that time is of the essrnoe of this contraa and that in the event of default in
~ payment of any installment for a period of thirty days the Lolder of this note may, at its option,
~ declare all the remainder of the said debt due and oollectible and any failure to exercise said
option shall aot constitute a waiver of the right to exercise t6e same at any other tune. In the
event of default in payment of thia note and if the same is placed in the handa of an atwrney for
collection, I, we, or either of us agree to pay all costa of c~ollection, including a reasonable attorne~a
fee. In case payment shall not be made at maturity, t6e makrrs, sureties and endoixis joindy and
severally agree w any extensiona or renewala 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, whether principal, ucuritp, guarantor, endorser or other party hereto.
~ agree to be joindy and aeverally bound. I or we, each furt6er waive demand, protest and notice
of demand, protat and non•paymen~
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~ ~
~ s/ ~ (SEAL)
~ and agr+eea'
~ l. To make all payments reyuired by tLat note and this mortgage prom y when due.
~ Y. To pay all taxes, asiaaments, liens aad encumbranca on that pmprrty prompdy w6en
~ due. If they are not prompcly paid the Mortgagee may pay them without waiving the option to
foreclose, and auch payments, with interat thtteon ft~mn the date of payment at the same nte as
specified in that note. shall aLo be x~ured by thu mortgage.
~ 3. To oommit. permit, or :uffrr no w~te. impairment or deteriontion oE the mortgaged
~ propertY. ~
~ 4. To pa~ all expensa rra'onabl~ incurred bp the Mortgagee beuuse ~ hilute of the
~ Martgagor to comply witb the agrernaenu ia thst note or this mortgage. induding reasonable
~ accorncrys' fees. Tht c~t thereof, ~rith interest thenon Erom the da~ oE payment at tbe ume rate
~ u specified in that aote. ~all ala be saured b~ t!w mortga~e. •
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~ eoo~ 171 1423
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