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MORTGAGE 1~6~~3
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the mortgagnr , in consideration of the principal sum specificd in the pmmissory note
hereafter described, received from HOLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporation organized and exaytting ~nder the Laws of the State of Florida. the Mortgagee, hereby
on thia day of _ ~~r~ ~ , 19~, mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
Condominium Parcel: Bloch __B Lot i 28 ~ of HOLIDAY OUT
AT ST. LUCIE, a rnndominium, aocording to the Declazation 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 eondominium parcel above
described, including the limited oommon el~ments 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 oopy:
; 4.549. 80 . Florida, _-~Nlarch 9 , 19.5~8 .
For Value Receivcr:, 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 hereof may designate in writing, the sum of Four Thoussnd Five Hundred
F__ or~t
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Nine and 80/100 _~llara, which includes interest on the principal amount loaned, payable in
60 ro~utive monthly installments of ; 75 _ each, and the first
installment to become payable on the 1$t day of May , 1~8 , 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 MA *~h 9.,?
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' at the rate of ~ per cent per annum after maturity.
In the event of prepayment, a deduction from the amount due on account of unearned
~ interest s6a11 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 t6is note may, at its option,
~ declaze all the remainder of the said debt due and collectible and any failure to exercise said
~ option st?all not oonstitute a waiver of the right to exercise the same at any other time. In the
event of default in payment of t6is 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 attorne}~s
fee. In c~se payment shall not be made at maturity, the makets, sureties and endorsers jointly and
severaliy 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.
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~ I, we or each of us, whether principal, aecurity, guarantor, endorser or ocher party hereto,
agree to be joindy and severally bound. I or we, each fu ; waive demand, p and tice
~ of demand, protest and non-payment~ , ~ ~ i
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~ and agrees:
1. To make all payments required by t6at note and this mortgage prompdy when due.
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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.
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3. To commit, permit, or suffer no waate, impairment or deterioration of tl:e mortgaged
~ property. '
~ 4. To pay all e~cpenses reasonably incuaed by the Mortgagee bec:ause of failure of t6e
~ htortgagor to comply with the agteements in that note or this mortgage, including reasonable
attorneys' fees. The coat thereof, with interest thereon from the day of payment at the same rate
~ as specified in that note, shall also be secured by thia mortgage.
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aooK171 PAGE2385
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