Schedule IV (Consolidated) - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2014

THE ST. JOE COMPANY

SCHEDULE IV (CONSOLIDATED) - MORTAGE LOANS ON REAL ESTATE

DECEMBER 31, 2014

(in thousands)



Description	Interest Rate	Final Maturity Date	Periodic Payment Terms	Prior Liens	Carrying Amount of Mortgages		Principal Amount of Loans Subject to Delinquent Principal or Interest
Seller financing	5.25%	June 2015	(a)	—	$	19,600	—
Seller financing	4%	August 2015	P&I ^(b)	—	1,945		—
Seller financing	4% for the first twelve months; 6% for the second twelve months	February 2015	(c)	—	66		—
Various other seller financing	5%	October 2016 and December 2016	P&I ^(d)	—	512		—
Total ^(e)					$	22,123



(a)	Annual principal payment of $1.0 million due March 2015. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full.
(b)	Principal and interest is paid quarterly over a ten year amortization schedule. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full.
(c)	Payments are made in varying amounts over the life to maturity. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full.
(d)	Principal and interest is paid monthly.
(e)	The aggregate cost for federal income tax purposes approximates the amount of unpaid principal.

The summarized changes in the carrying amount of mortgage loans are as follows:



	2014		2013		2012
Balance at beginning of the year	$	5,354	$	1,158	$	1,752
Additions during the year - new mortgage loans	19,600		5,854		—
Deductions during the year:
Collections of principal	2,832		1,363		594
Foreclosures	—		295		—
Balance at the end of the year	$	22,122	$	5,354	$	1,158