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Thomas 6. Ortolani and Edna A. Ortolani, his wife
herein "Mo~tgagor", Whether singular or plural, in consideration of conveyance of real property here
inafter describeci by VENTURE OUT tN AMERICA AT ST. LUCIE. INC., herein "hlortgagee'",andta- \
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secure payment of the balance of the purchase pnce by Mortgagor obligaied to be paid, as evidenced
by promissory note fully identified herein, here~y on this 15th . day of
A.D. 197~_ , conveys and mortgages to the said Mortgayae it~3ulcessors and assigns the reaf proper
ty in St. Lucie County, F lorida, described as follows:
Condominium Parcel: Lot # 169 of VENTURE OUT A f ST. LUCIE, IfVC., a Con-
dominium, according to the Oectaration of Condominium thereof recorded in Official Re-
cords Book 189 at page 1677, et. seq.. 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, Ftorida Statutes 1965, et seq.), said description in this conveyance includes, but is not
limited to, all appurtenances
to e Condominium Parcel described, including the limited
common elements assigned thereto and including the undivided interest in the commo~ ele-
ments of said Condominium.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of which the following is a copy:
` ~ IIS_ 6.,.623_._50_.... ~eru.~eeacn.Fio.~da.__. _...June 15, ~971
; ? I~ For value received, 1, we, or eithe~ ot us promisa to pay to tho wder of
~ VENTURE OUT !N AMERICA AT ST. LUCIE, ~NC. atJeruenBeschBank,Je~senBexA, Flonda,,
~ Six Thousand Six Hundred and Z~venty-Three and SO/100 ................•Dola,
~ the sum of . . _ _ _ 1 rs
.
j i . .
i ~ j payable m. . r~. 9..... equal coiuecutive month{y ~iutallme~tsof 5-------110 ._39 each and Oil@:_ eWal toruecuUw
~ Q monthl mstallments of S. ~ 10 . 49 _ e~n, the t~rst insta~Imsnt to become paysWe on the......... 15th day ot
y . .
~ Q ' _.A.U$1~.~ t. 19 .71. and o~e wch ~nstallment to becoms dw and psysbl~ on the _ lsth day of~
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~ ~ i each wcteeding month until t~e wAole of said indebtness is paid, in full, with inttrest at the rate of 10 psr esnt per an~um sfter defsult.
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It iia~ reed that tlme Is o} the essence of thfs cOntract and that In tAe tvent of def~ult In paYmtnt Oi ~ny fnstallm~nt fOr ~ p~rlod of thlrty Asyf t~s~
~ ~ Q ` holder of thls nots may, at Its optlon. Ceclart aU t~e romalnder of sald Nbt Aw and tolloctlW~ and sny fallur~ to exercls~ saltl optlon shall not constl-
~ Z tut! a waivlr Of th! ~Iqht to sxe~ClS! tn! Sime ~t iny Othlr tlma. In tM ev~nt of d~tault In psyrt~nt ot tMS not~ and if the sam~ Is O~sced in the hands
g _ ot an attorney for tollectlon. 1, w~, ot either of us, agree to p~y all cotts O( coll~ctlon, lntludlnq ~ ~wfon~Db attorn~y's fN. In ps! D~Yment s~a11 nOt
~ De rt17d! it maturlty, th! rtfiklfi, SUflt?!S, snd andorsers ~olntly and sev~?ally agrN to ~ny ~xt~nslont or ~~n~wilt wlthout tu~thlr notlce, Di~ldlnq Ouf-
s~tves for paym~nt ~ereof, as H rto ~xteoslons of time o? ~orDsannc~ of psyment hsd b~sn maa or 9rsnt~d•
E p 1, or ws, ~nd f~tt~ Of uS wh~th~~ p?Inclpil, sur~ty, 9uar~ntor, endort~r, or oth~r party Mr~to, ~y~M to W ~olntly ~nd sev~rally bound. 1, or ws, eaCn
a ~ ' turther walvs Qemand, Drotsst, ~nd notfce of dtmanC, Drot~st, and noo-paym~nt.
# ? Given unde. the hand and swl of each party.
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~ ~ ..fS._I!lay~air Gardgns.~..Cowmack.~...NeW~ sk.... S~ -X. - (SEAL)
~ > 11725 gr ~ T~~t'~-,~....w ISEA~1 '
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~ Mortgagor fully warrants the title to said land and wil! defend the same against the lawful claims
~ of all persons whomsoever, and agrees:
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~ 1. To make all payments required by 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.
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= 3. To commit, permit, or suffer no waste, impairment or deterioration of the mortgaged property.
4. To pay all expenses reasonably incurred by the Mortgagee because of failure of the Mortgagor to
=a comply with the agreements in that note or this mortgage,. including reasonable attorneys' fees and
title searches. The cost thereof, with interest thereon from the day of paymeni at the sarne rate as
specified in that note, shali also be secu~ed by this mortgage.
= 5. If any payment provided for in that note ~s not paid witnin .s0 days after it becomes due, or if
any agreement in this mortgage other than the agreement to make the payments is breached, the en
~ tire unpaid principal balance of that note shatl immediately become due at the option of the Moriga
gee and Mortgagee may foreclose this mortyaqe in the manner p~ovided by law, and have the mortyag
ed property soid to satisfy or appty on the indebtedness hereby secured.
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