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~ MORTGAGE 16~~J$
L. D. Word, and wife, Kathrya G. word
,
the mortgagors, in consideration of the principal aum specified in the promissory note
hereafter describr3, received from HaLIDAY OUT IN AMERICA AT ST. LUCIE, INC., a
corporatiou org~ized and existing under the Lawa of t,h.e~ tate of Florida, the Mortgagee, hereby
on this _~d
-day of s~.l'#~+J , 19~, mortgages to the Mortgagee the real
property u; S~ Lucie County, Florida, described as:
Condominium Parcel: Block ~ , Lot of HOLIDAY OUT
AT ST. LUCIE, a condominium, according to the Declaration of Condo-
minium thereof recorded in Official Reeords 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, (C~hapter 911,
Florida Statutes, 1965 E~ Seq.) said description in this oonveyance includes,
but is not limited to, all appurtenances to the eondominium parcel above
described, including the limited common elements assigned thereto and
including the undivided intrrest in the common elements of said oondo-
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the prom~ssory note of which the following is a copy:
~ S~ Ol~ ~ , Florida, c~i4 a+ 3 c~ , 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, londa, an other lac
as th older hereof may designate in writing, the aum of ~.~rt ..~S~We ~~+~~w/
---~Dollara, which includes intere.tt on the rincipa~ amount loaned, payable in
.
(p D equal consecutive mont6l inst~llmenca of ; ~O eac6, and ~ firat
installment to become payable on the ~ daq of 19 ~O , and
one such installment to become due and payable on the day of each succeeding month
until the whole of said indebt~edne.ss is paid, with incerest from -s~i4.r~
3
D b d~ ~
at the rate of ~ p e r cent p e
r annum after maturi t
y.
In the event of prepayment, a deduction from the amount due on acoount of unearned ~
interest shall be allowod. ,
It is agreed that time is of the essaice of this contract and that in t6e event of default in `
payment of any installment for a period of thirty days the holdtr 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 rig6t t,o eacercise the same at any other time. In the
e event of default in payment of this note and if the aame ia placed in t6e hands of an attomey for
collection, I, 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 ur other party hereto,
agree to be jointly and severally bound. I or we, each further waive demand, protest and nocice
of demand, proteat and non-payment~
a/ L ` D' ~~R ~ _ (sFA~.)
~ a~ ua l~ Ri~ (gg.Al,) .
;
~
~ and agreea:
~ l. To make all payments required b' 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 wa~te, impairment or deterioration of the mortgaged
~ property.
~
~ 4. To pay all expenses reasonably incurred by the Mortgagee because of failure of the
Viortgagor to comply with the agreements in that note or this mortgage, including reasonable
~ atcorneys' feea. The coat thereof, with interat thereon from the day of payment at the same rate ~
~ as specified in that note, shall also be aecurcd by this mortgage.
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