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~ MORTGAGE • ~ _ ~
2,~4'705 .9
t?ich3rd Schi:n~~f and Joan ;•I. Schimpf, his xvife
the mortgagor , in consideracion of the principal sum specified in the promissory note
hereafter described, rec:eiveci from HOLIllAY OUT IN A~IERICA AT ST. LUCIE, 1NC., a
corporation organized attd existing under the Laws of the State of Florida, the hlortgagee, hereby
on this -----l~th _ day of A-pr 11 19-~ mortgages to the 11lortgagee the real
pmperty in St. Lucie County, Florida. described as: ~
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Condominium Parcel: Block B______. Lot of HOLIDAY OUT
A
T S
T. L U C I E, a c
o
n d o m i n i u m, a c c
o r
d i n g t
o t he Declaration of Condo- ~iJ~
minium thereof recorded in OEf icial Records Book 168 at page 1348, of
the Public Records of St. Lucie County, Florida. As provided for by the E d~~
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 condominium parcel above O~1
described, including the limited common elements assigned thereto and
including the undivided interest in the common elements of said condo- ~ o
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minium. ~ ~ g
THIS IS A PURCHASE MONEY MORTGAGE W~ W
As security for the payment of the promi~sory note of which the following is a-copy:
f 5,980_00 ?ensen Beach , Florida, aPril 14 ~ lg 71,
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 designace in writing, the sum of Five Thousand _Nine _Hundred _and
~iqhty & no/100 Dollars, which includes interest on the principal amount loaned, payable in
~'O equal consecutive monthly installments of ~~~4~_&_14~...4~_ each, and the first
'i installment to become payable on the 5th ~y of --^rune 19_71 ~~d
; one such installment to become due and payable on the __~t1~_______ day of each succeeding month
i until the whole of said indebtedness is paid, with interest from _ april 14~ 197_1____`
~ at the rate of _ 6___ per cent per annum after maturity.
~
ln the event of prepayment, a deduction from the amount due on account of unearned
~ interest shall be allowed.
' It is agreed that time is of the essence of this 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 tl~e remainder of the said debt due and collectible and any failure to exercise said
~ option shall not constitute a~vaiver of the right to exercise the same at any other time. In the
~ event of default in payment of this note and if the same is placed in the hands of an aEtomey for
~ collection, I, we, or either of us agree to pay all costs of collection, inrluding a reasonable attorney's
~ fee. In case payment shall not be made at maturity, the makers, s~ireties and endorsers jointly and
~ se~~erally agree to any extensions or renewals ~vithout further notice, binding ourselves for payment
~ thereof, as if no extensions of time or forbe~rance of payment had been made or granted.
~
~ I, we or each of us, whether principal, security, 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.
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R and agrees:
1. To make all payments required by that note and this mortgage promptly when due.
2. To pay ail taxes. assessments, liens and encumbrances on that property promptly when
_ due. If they are not promptly paid the ~iortgagee may pay them ~vitho~it wai~ing the option to
Eoreclose, and su~~h payments, with interest thereou from the_ datc ~f payment at the same rate as
~ specified in that note, shall also be secured by this mortgage.
3. To commit, permit, or suEfer no waste, impairment or cieterioration of [he mortgaged
property.
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4. To pay all expenses reasonabiy incurred b}' che Mortga~ee because of failure of the
~tortRa~or to comply with the agreements in that note or this mort~age, including reasonable
z= accorne}~s' fees. The cost thercof, with interest thereon from the day of payment at the same rate
as specified in that note, shall also be secured by this mortgage.
BCCK ~OO FACE
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