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~ MORTGAGE
J. FRED MULLINS,, JR. , AND 1{IFE, M~4DRED 1~,_ MUL4IN~ _
the martgag~or s,in rnnsideration of the principal sum specified in the promissory note
hereafter described, received from HOLIDAY OUT 1N A11iERICA AT ST. LUCIE, INC.. a
corporation organized and existing under the Laws of the State of Florida, the Mortgagee, hereby
on thia __25___-_ day of _ 19__~ mortgages to the Mortgagee the real
property in St. Lucie County, Florida, described as:
Condominium Parcel: Bloclc Lot of HOLIDAY OUT
AT ST. LUCIE, a condominium, acrnrding to the Declaration of Condo-
minium thereof reeorded in Official Records Book 168 at page 1348. of
the Public Records of St. Lucie County, Ftorida. 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
descxibed, including the limited coarmon elements assigned thereto and
including the undivided interest in the common elements of said condo-
miniuta. "
THIS IS A PURCHASE MONEY MORTGAGE
As sccurity for the payment of the promissory note of which the following is a copy:
; 5,85Q.0~ , Florida, Febr ~ry 25 , ig~,
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 hereof may designate in writing, the sum of ~YE INOllSANO,FIGH7 HUNLIRE~
. FIFTY _ Dollars, which includes interest on the r~97 50 1 amount loaned, payable in
6Q equal consecutive monthl installments of ; _ each, and the first
installment to become payable on the ~St day of Apri 1 , 1~9~, and
one such installment to become due and payable on the day of each succeeding month
until the whole of said indebtedness is paid, with interest from _ F
at the rate of per cent per annum after maturity.
j In the tvent of prepayment. a deduction from the amount due on account of unearned
'i interest shall be allowed.
~ It is agreed that time is of the essence of this rnntract 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 ail 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 t6e
~ event of default in payment of this note and if the same is placed in the hands of an attorney for
rnllection, I, we, or either of us agree to pay all costs of collection, including a reasonable attorncy'a
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 ourselves for payment
thereof, as if ao extensions oE 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 jointly and severally bound. I or we, each further waive demand, protest and notice
of demand, protest and non-payment.
m.~ ~ Ho~~Y cu~~ by a/ Fred I~ll.inc; lr_ - (SEAL)
P. O. Drovre? N7
s`°`'"' F~ ~ a~ //s/ Mi 1 dred N. Mul l i n~____~__ (SEAL)
~ and agr+eea:
l. To make all payments required by that note and this mortgage promptly when dae.
2. To pay all taxes, asses.unents, liens and encumbrances on chat property prompdy when
due. If they are not promptly paid the l~iortgagee may pay them wichout waiving the option to
foreclose. and such payments. with interest thereon from the date of payment at the same rate as
specificd in that note, shall also be secured by this mortgage. `
3. To commit, permit, or suffrr no wute, impairment or deterioration of the mortgaged
P~P~7•
4. To paq a11 expenses reasonably incurred by the Mortgagce because of failure of the
Mortgagor to comply with the agreemtnts in that note or this mortgaRe, inciuding reasonable
attorneys' fets. The cost thercof, with interest thenwn from the day of payment at the same rate
~ spKified in tl~at note. shall also be secur~d by thia mortgage. ~1~ ~f~~rVi:r
_ Y;r.
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