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' MORTGAGE 1'~~5a2
Howard W. Rowland and Denise K. Rowland
_ ,
the mortgag~orsy in consideration of the principal aum :pocified in the promissory note
hereafter deacribed, received from HOI:IDAY OUT IN AMERICA AT ST. LUCIE, INC., a
rnrporation organiud and exiating under the Lawa of the State of Florida, the Mortgagee, 6ereby
on thi:25th ~y of March 19 67 , mortgages to the Mortgagee the real
property in St Lucie County, Florida, deacribed ai:
Candominium Parcel: Block C , Lot / 1~ of HOLIDAY OUT
AT ST. LUCIE, a oondominium, aaoording to the Declaration of Condo-
minium thereof recordcd in Official Records Book 168 at page 1348, of
the Pdblic Reoords of St Lucie County, Florida. As provided for by the
~~`~"~'~'"'~"t P"~rd Condominium Act of the Statutea of the State of Florida, (Chapter 711,
t=:>Lit`:~Y ~UT
o. Florida Statutea, 1965 E~ Seq.) said deacription in thia oonveyance iacludea, tr~ I~cn..~c h~
t,~,.'' ~s~ but is not limited t,o, aU appurtenancea to the oondomiaium pat~cel above g aue~Y ~
described, including the limited common elements aasigned therew aad ~n.~ ett
including the undivided interest in the eommon elements of aaid oondo- ~.u. ~ua. w.
minium.
THIS IS A PURCHASE MONEY MORTGAGE
As aecurity for the payment of t6e promissory note of wbich t6e following ia a oopy:
~ 4, 866 . 60 Stuart ,~o~, blarch 25 , lg 67 ,
For Value Received, I, we or either of ua promiae w 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 desigaate in writing, the aum of Faur Thousand Eight Hundred Sixty-
six & 60/100 w~~ ~~udea intereat on the princi~ amount loan~d, payable ia
60 ~~tive moathly installmarts of ; 81. j1 each, and the firat
inatallment w booome payable on t6e l st ~ May ~ 19 6 7~~
one such installment to beoome due and payable on the _l~_ day of each auccoeding month
until t6e whole of said indebtedneaa is paid, with int,erest fr~m Mareh 2 5, 19 6 7
at the rate of 6 per cent prt annum after maturity-
, In t6e eveat of prepayment, a deduction from the amount due on uoount of unearned
~ interest ahall be allowed.
F It is agrecd t6at time is of the essence of thia rnntract and t6at in the event of default ia
~ payment of any installment for a period of thirty daya the holder of this note may, at its option,
~ declare all the remainder of the said debt due and oollectible and any failure to exercise said
option shall not aonstitute 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 t6e aame is placed in the handa of an atwrney for _
collection, I, we, or either of ua agree w pay all coats of mllection, including a reasonable attorney'a
fce. In case payment ahall not be made at maturity, the makrra, suretiea and endorsera jointly and
severally agree w any extensiona or renewals wit6out further notice, binding ourselves for payment
thereof, aa if no extensions of time or forbearanoe of payment had been made or graated.
I, we or eac6 of us, whetLer principal, security, guarautor, endoraer or other party hereto,
agree to be joindy and aeverally bound. I or we, each furthrr waive demand, protest and notice
of demand, protest aad non•payment~
i~ ~
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and agrea: -
l. To make all payments required b~ tbat note and t6u mortgage promptly whrn due.
Y. To pay all taxes, asseasmenta, lieas and encumbr~nces on that property promptly whtn
due. If the~? are aot promptly paid the Mortgagee ma~? pay them without waiviag the option to
forecloae. and such payments, with interat thereon from the date of payment at the same rate as
apecif ied in that note, ahall aLto be aecured br this mortgage.
3. To commit, prrmit, or su~er no wa~te, impairmeat or deteriontioa of the mortgaged
P~P~Y•
4. To p~~ all expaisa n~awnablp incuttcd by? the Mortgagee baause of failnre of the
:~iortgagor to rnmpl~r with the agrrements in that note or this mortgage, including irawnable
acwrneys' fea. The cosc chrreof. wit6 iaterest thrreon from dx day of paj?ment at the :ame rate
~ specif ied in tLat note, shall aLo be iecured b~r this mortgage.
;~173 ~,~17~8