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~ MORTGAGE 16s9
84
John E. Mo an and Bob Grannis_, Nashville, TennesseeZ ,
the mortgagora 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, henby
on this ___~fh___ day of March 19
68 mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
Condominium Parcel: Block _ B_~_, Lot ~$5 of HOLIDAY OUT
AT ST. LUCIE, a condominium, aocording 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 providcd for by the
Condominium Act of the Statutes of the State of Florida, (Chapter 711,
Florida Statutes, 1965 Et. Seq.) said description in t6is coaveyance includes,
but is not limited to, all appurtenances to the rnndominium parcel above
described, including the limited rnmmon eleanents assigned thereto and
including the undivided interest in the oommon elements of said oondo-
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As sccuritq for the payment of the promissory note of which the following is a o~py:
~ 4, 549. 80 ,~ori~, March 9 , 19 s8 .
For Value Received, I, we or either of us promise to pay to the arder of HOLIDAY OUT
IN AMERICA AT ST. LUCIE, INC., at Post Office Box 161, Stuart, Florida, or any other place
as the Lolder hereof may desiga.:ce in writing, the sum of Four Thousand Five Hundred F`or~t
Niae and 80/100 _~llars, which includes interest on the princi 1 amount loaned, payable in
60 equal consecutive monthly installmenta of ; 7~38 each, and the first
installment to become payable on the 1st day of May , 19 68 and
one such installment to become due .and payable on the _lst day of each succeeding month ,
until the whole of said indebtedness is paid, with interest from March 9, 1968
at the rate of ~ p~r cent per annum after maturity.
In t6e event of prepayment, a deduction from the amount due on acoount of unearned ~
! interest s6a11 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 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 ot6er time. In the
event of default in payment of this note and if the same is placed in the 6ands of an attorney for
collection, Y, we, or either of us agree to pay all costs of collection, including a reasonable attorne~s
fee. In case payment shall not be made at maturity, the makers, sureties and endorsers joindy 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, aecurity, guarantor, endorser or other party hereto,
agree to be joindy and severally bound. I or we, ea rth waive demand, protest and notice
~ of demand, protest and n~n•paymenG i
~ a/ , r _ EAL)
~ a - - (SEAI-)
~ and agreea:
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1. To make all payments required by that note and t6is mortgage prompdy when due.
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~ 2. To pay all taxes, assessments, liens 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 of payment at the same rate as
specified in that note, shall also be aecured by this mortgaae.
~ .
~ 3. To commit, permit, or suffer no waate, impairment or deterioration of the mortgaged
Pi~P~Y• ;
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~ 4. To pay all expenses 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 t6ereon from the day of payment at the same race
as specified in that note, shall also be secured by thia mortgage.
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