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HomeMy WebLinkAbout2362 ~DEED OF CORRECTIOiJ ~ ~ . - • MORTGAGE ~sss~s .~'elros~ am~ina~A,~~c. no • the mortgagor , in consideration of the principal sum specified in the promissory 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 o~ ~y of _ Npvembe r , 19~, mortgages to the Mortgagee the real pmptrty in St. Lucie County, Florida, described as: , Condominium Parcel: Bloclc ~i__ , Lot /-1$,- of HOLIDAY OUT AT ST. LUCIE, a condominium, according to the Declaration of Condo- minium thereof recorded in Ofticial Records Book 168 at page 1348, of . the Public Records of St. Lucie County, Florida. As provided for by the Condominium Act of the Statutes of the State of Florida, (Chapter 711, Florida Statutes, 1965 Et. Seq.) said description in this conveyance includes, but is not limited to, all appurtenances to the condominium parcel above described, including the limited common elements assigned thereto and including the undivided interest in the common elements of said condo- minium. THIS IS A PURCHASE MONEY MORTGAGE As security for the payment of the promissory note of which the following is a copy: ; 4,,549.80 Stuart , Florida, Nov. 22 , 19~. For Value Received, I, we or either of us promise to pay to the order of HOIIDAY OUT IN AMERICA AT ST. LUCIE, INC., at Post Office Box 161, Stuart, Florida, or any other place as the holder hereof may designate in writing, the sum of FouT ThOUSand. Five Htuldred snd orty-~v'ine snd 80/100 Dollars, which inclndes interest on the principal amount loaned, payable in 60 ~u~ ~~utive monthly installmenta of ~ 75 •g~_ each, and the first instalLnent to become payable on the lOth ~y of _ January , ig 6$ ~d one such installment to become due and payable on the day of each succeeding month until the whole of said indebtedness is paid, with interest from _.N.QYember 22i 1~67 ~ at the rate of ~ per cent per annum after maturity. ` In the event of-prepayment, a deduction from the amount due on account 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 instatlment for a period of tlurty days the holder of this note may, at its option, declare all the remainder of the said debt due and rnllectible and any failure to exercise said option shall not rnnstitute 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, security, guarantor, endorser or other party hereto, agree to be joindy and severally bound. I or we, each further waive demand, protest and notice ~ of demand, protest and non-paymen~ s~ y:elrose ~ampin~ Center,Inc~g~,~ ~ 4 By 3~ Charles B. ::ic',.iahon ~g~,~ ~ and agrees: President . ~ 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 ~ ~ ~ P1OPertY- ~ ~ 4. To pay all expenses reasonably incuned by the Mortgagee because of failure of the ~ Mortgagor to comply witi~ 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 by this mortgage. ~ ~ R 171 P~2357 ~ goox : ~ a - - ~ . _ _ t . . _ , t.~