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MORTGAGE
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the mortgagor , in consideration of the principal sum specified in the promissory note
hereafter described, received from HOLIDAY OUT IN AI~IERICA AT ST. LUCIE, INC., a
corporation organized and exiscing under the Laws of the State of Florida, the hiortgagee, here~3
on this _~l day of _~~i~arr 19_~, mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
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Condominium Parcel: Block Lot of HOLIDAY OUT
AT ST. LUCIE, a condominium, acmrding 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 Statutes of the State of Florida, (Chapter 711,
Florida Statutes, 1965 Et. Seq.) said description in this conveyance includes,
but is not limited to, all appurtenances ta the condominium parcel above
described, including the limited common elements assigned thereto and
including the undivided interest in the rnmmon elements of said condo-
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of which the followin is a copy:
; ~ gV ~ ~ sT~+-~ , Florida, ~ 19
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 e ol er hereaf may designate in writing, the sum of~t~_~-~~%~.~~d ~~~'P
N Dollars, which includes interest oi~ the principal amount loaned, payable in
equal consecutive monthly installments of each, and the first
installment to become payable on the day of m a+s~ , 19~~, and
one such inswllment to become due and payable on the _s~z_ d~a~ of each succeeding month
until the whole f said indebtedness is paid, with interest from -%l ft `wd~ 8
i at the rate of per cent per annum after maturity.
~ In the even[ 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 thiny 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 Eor
collection, I, we, or either of us agtee 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, security, guarantor, endorser or other party hereto,
g agree to be jointly and severally bound. I or we, each further waive demand, protest and notice
~ of demand, protest and non-paymen~
~ s/ SEAL}
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K s/ _ -ll~rN'~,~____!!!~--- (SEAL)
~ and agrea: ~
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A 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 prompdy when
~ due. If they are not promptly paid the ~Iortgagee may pay them ~fithout waiving the uption to
~ forec:lase. and such payments, with interest thcreon from the datc of paymcnt at the same rate as
~ specificd in that note, shall also be secured by this mortgage.
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3. To commit, permit, or suffer no waste, impairment or deterioration of the mortgaged
~ property.
~ 4. To pay all expenses reasonabiy incurrecl by the MortRag~e becactx oE failure of the
NartRag~~r to comply with the aRrecm~nts in that not~ or this mortRaR~, including reasonable
~ attc,rncys fecs. Th~ ccKt thereuf, with int~rat thercan frum th~ d~y af pa~•mcnt at tht same tate
~ as specified in that natc, shall also be secured by this mortgage.
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~ a~RK171?~~;E1502
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