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~ MORTGAGE 166 i
9 5
,lielrose Campin~ Center, Ina. _
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the mortgagor , in consideration of the principal sum spccified in the promissory note
hereafter described, received from HOLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporation organued and existing under the Laws of the State of Florida, the Mongagee, hereby
on this _ 22nd ~y of November 1g~, mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
Condominium Parcel: Block Lot 1~ of HOLIDAY OUT
AT ST. LUCIE, a condominium, according 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 to the rnndominium parcel above
described, including the lunited 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:
j 4 549.g0 Stuart , Florida, Nov. 22 , 19~.
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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 the holder 6 reof may designate in writing, the sum of Four Tho usand F iv e ~iund r ed snd
r or tyi3ine and 80 f
100 Dollars, which includes interest on the principal amount loaned, payable in
60 equal consecutive monthly installments of each, and the first
installment to become payable on the day of J~uarv , lg 68, and
one such installment to become due and payable on the lOth day of each succeeding month
' until the whole of said indebtedness is paid, with interest from _
Nove:lber 22, 1967
; at the rate of ~ per cent per annum after maturity.
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~ In the event of prepayment, a deduction ftom the amount due on a~.count of uneamed
~ interest shall be allowed.
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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 attomey for
~ rnllection, I, we, or either of us agree to pay all coscs of collection, including a reasonable attorne~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 our~elves for paynnent
~ 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 jointly and severally bound. I or we, each further waive demand, protest and notice
~ of demand, protest and non-paymen~
~ S~ i::elrose Camping. Center, In~L~
~ i;y 8~ Ch~rles B. I:~c:aahon (SEAL)
~ ~d President
l. To make all payments required by _that note and this mortgage promptly when due.
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~ 2. To pay all taxes, assessments, ]iens and encumbrances on that property prompdy 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 oE payment at the same rate as
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~ 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 expense~ reasonably incurred by the Mortgagee because of failure of the
~ Mortgagor to comply with 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. .
BOOK171 PACE2360
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