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MORTGA~?E
Fran'.: W. tdcCarthy. Jr, and wife ~li7abeth N. blrGarthy
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the mortgagor ~ in consideracion of ttie principal sum specified in the promissory note
hereafter descrit~cd. received from HOLIDAY OUT 1N A1~IERICA AT ST. LUCIE, INC., a
corporation organized and exisci~ig under the Laws of the Stace oE Florida, thc Mortgagee, hereby
on this day of 19_____, mortgages to the Morcgagec the real
. propeny in St. Lucie County. Florida, described as:
Condominium Parcel: Block _______KT_, Lot 1S of HOLIDAY OUT
AT ST. LUCIE. a condominium. according to the Declaration oE Condo-
minium thereof recorded in Official Rec~ords Book 168 at page 1348, of
the Public Records af St. Lucie County, Florida. As pro~ided for by the -
Condominiueu Act of the Statutes of the State of Florida, (Chapter 711,
Florida Scacuces. 1965 ~t. Seq.) said description in this conveyance includes,
but is not limited to, ali appurtcnances to the condominiuin pareel above
described, including the limited common elements assigned thereto and
including the undivided interest in the common elements of said conda -
minium.
THIS 1S A PURCHASE MONEY MORTGAGE
As sccurity for the payment of the promissory note of which the following is a copy:
~ 7, 598. SO Jensen Beach ,~ori~, J February 11 ~ 19 ?1.
For Value Received, I, we or either of us pmmise to pay to the order of HOLIDA3l OUT
1N AMERICA AT ST. LUCIE. INC., at Post Office Box 161, Stuan, Florida, or any other place
a~ the holc~er her~of dcsignate in writing, the sum of Seven Thousand ,_Five Hundred
\ir.ety-fifght &50~~0
lars, which includes interest on the rinci 1 amQUnt 1~{~e¢,~y~~i~lment of
59 _~ual rnnsecutive monthly instaliments of ; 1~6'
6~_______ eacli,~and the fit~st
ii~[{~ih~e~c to beoome payable on the lst day of _'~ay 19_ 71 , and
one such installment to become due and payable on the lst ~y of each succeed.ing month
untit the whole of said indebtedness is paid, with interest from ~`iay 1, 1971 A J
at the rate of _ 1~" per cent per annum after maturity.
( in the event of prepayment, a deduction from the amount due on account of uneained
~ interest shall be allowed.
i
~ It is agreed that time is of the essence of chis 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 w aiver 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
collection, I~ we, or either of us agree to pay all costs of collection, including a reasonable attome~s
~ fee. In case payment shal! not be madc at maturity, the mal:ers, sureties and endorsers joincly and
~ se~erally agree to any extensions or renewals without further notice, binding ourselves for payment
thereof, as if no extensions of time or Eorbearance of payment had bPen made or granted.
I, we or each of us, whether principal, aecurity, guarantor, endorser or other party hrreto.
agree to be jointl; and severally bound. I or we, each further waive demand, protest and notice
of demand, protest and non-payment~
~ S~ ~raa.: W. .•icCarthy (S~AI-)
~ s/ ~Eiizabeth H, alcCartny _ ~SEAL)
~ and agrea: ~ ~
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1. To make all payments required by that note and this mongage promptly when due.
2. To pay all taxes, assessments, liens and encumbrances on that property promptly when
~ due. If they are not Nromptly paid the Mortgagee may pay them without waiving the option to
~ foreclase, and such payments, with intere=t thereon from the date of payrnent at the same rate as
~ specified in that note, shall atso be secured by this mortgage.
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~ 3. To commit, permit, or suffer no waste, impairment or deterioration of th~ mortgaged
~ propetty.
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4. To pay all expensrs reasanably incurred by the Mortgagee because of failure of the
~fortgaR~r to comply with tht agreements in that note or this mortgaRe, includinR r~asonable
aet~,rneys [ecs. The c~st thereof, with interest thereon hc,m the d1~ of payment at thr same rate
~ as specifieci in that notc, shall also be secured by this mortgage.
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