HomeMy WebLinkAbout1788 MORTGAGE 2~~3p .
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~h~~ murt~,?.i},~UC, in crosideration of e principxl sum specifieci i the promissory no e hei•ea~ er descri ~ed. re-
,~•i~~~~d from OL'TnOOR RESORTS OF AMERICA, INC., a corporation orKani eci d xisting under the Laws
~~i th~~ State ~~f Ten~ie~~ee, the 111ort~?a~,~or, hcreby un this_ ___duy of__ 19~'~ ,
ru~~~•t~.~.i~,~e. t~? the ~Iurt~,?a~,?ee the reai propert~• in St. Lucie Count~•, Florida, describeci as: oF'~`,,.=~
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Iut Nu..~~"1y in that certain ronciominium kno~n ati OUTI~OR ~•J~~
RE~ORTS OF A;11I~:R1('A AT \'F.TTI.ES ISLAtin, as sho~~•n b}• plat ~
rec~~rded in the Ot1ice of the Circuit (burt in anci for St. Lucie ('ounty,
Fl~~ridu, in I'lat B+x~k 16, pxge 1:1A throug h 1 J. ~
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THIS IS A PUBCHASE :110NE~' 110RT(;AGE S,Y ~-,~,c`' .rc:~'
~~~curit~• tur the pa~~ment ~?f the promissur}• note of «•hich the follo~~•in~? is a copy: ~~c~`~~o~~~;~`'
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Instaliment Note and Disclosure Statement~~~y,~~~'
~ .~C _ _ _ _ Florida
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F~~r ~'alue Recei~~ed, 1. ~~•c~ ~~r cither of us prumise t~? pay to the order of OUTUOOR RE~RT~3 OF
:~~TH:ItI('A. P. O. Rux I1 6, Jensen Beach, Florida, 33457, or any ~ther place as the ~ol er hereof may
~:~~~iy~nate in ~.ritin~.~, ihe sum of 5....4e'.u.~~1 ( ~y~ _ o O_) I)ollars,
~ ?i;i: .um I,ein~,? the Total of Paym ts referred to in the nisclosure Statement below. ich ~ncludes a F'INANCE
( ~ f I:~R(:F: on the am~?unt financed, pa~~able ir~ __--equal consecu~e monthly installments of
~ _ ~ D_ _ each, and the first enstaliment to become payable on th~
-_-day of ~;X~. .
g l'+ and une ,uch in~tallment t~~ I,ecome due and payable on the_ _~_day of each succeeding month
~ unti the H~hole ~~f ,aid in~ebtedness ITotal of Payments) is pxid. !n the event of prepayment in full by cash
6 E t~fnre the final in~tallment date, the unearned portion of the F'I:~'ANCE CHARGE shall be rebated under
~ tht~ Rule ~?f 78'~.
~ In the e~•ent of default in the due and punctual payment of any installment on this Note for a period of
~ tiiirty (30j days, or if any statement, representation or warranty in any application for the credit evidenced
~ t~~- thi~ I~~?te is found to i,e untrue in an~• material respect, or in the event THE UNDERSIGNED, WITHOUT
'('HE PRInR ~~'RITTF.\ ('n?~SF.\T OI~ THE HOI.DER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
~ F'nR AtiY MORTGAGF. «'HI('Ii l~ SECURI'f1' FOR THIS NOTE) OR OTHERVVISE DISPOSE OF OR EN-
~ ~'L'1~iBER OR CObf1i1T A\Y RRF;A('N OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
F~:\IST OI` THE RF.AI. PROPI~:RTY YL~RCHASED BY THE UNDF.RSIGNED AND FINANCED THROUGH
~ '1'I~E CRFDIT EVIi)E;~'('EU RY T}iIS NOTF, or in the event of the incompetency, insolvency (howsoever
,r «~~~idenced) or bankruptcy uf anyone or more of the undersigned, ther. the entire remaining indebtedness then
~ ~iue shail l~ecome immediatel3~ d~.~e aed payable at the option of the holder hereof without demand, presentment
~ ~~r notice of any kind. Any failure o.* holder lo exercise said option shall not constitute a waiver of the right
~ t~, exercise the same at any c?ther timc.
Time is of the es~ence of this 1~'nte. In the e~~ent any installment is not paid when due or within ten
~ ~ia~~s thereafter, the hulder ma~~ c~,llect, and the undersigned agrees to pay a late charKe on such installment in
~ .tn amount equal to r,`: ~~f such in~t.?ILnent or $5, whiche~•er is letis, and in the e~ent this Note is coUected by
law• or thmuKh an ~ittorney~ at I~~- «r untler advice theret~f, the under~igned agrees to pay all costs of collection, _
= incl~ulin~,• rea~onable att~~rne~•'s fee: and court costs to the extent permitted by Florida law.
The undersiKned and all end~?rsers ur other parties to this nute jointly and severally transfec. convey and
~l~Sl}CJi to the H~?Ider a suf~icient amount of such homestead or exemption as may t,e allowed, {ncluding s~ch
homesteacl or exemption as may be set apart in hankruptcy, to pa~• this note in full, with all costs of collection.
and do herehy direct any trustee in hankruptcy ha~~ing posse~.ion ~?f such homestead or exemptioa to deliver ta
w..
the Hoider a~ufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
- heret,y, ~?r an~~ rene~~•al thereof, and do heret,y, jointly and se~•erall~~, apEx~int the H~?)der the attorney in fact for
- rach of them, to claim any and all homestead exemptions all~,~ti~ed t,~~ law~.
- A first mort~,~aKe fur the securit~• of the aforesaid indet,teclness is retained by OLTTI~OR RESORTS OF'
~1i~:Rl('A, INC., on l~it :~odr~~n that certain Conduminium known ae OUTnOOR RESORTS AT N~'TTLES
lSLA\I?, and on an~• improvements, fixtures or after acquired property added thereon, as shown by plat re-
~ rurded in the Office of the Circuit ('ourt in and for St. Lucie ('~unty, Florida, in Plat Book 16, page 1:1A
thmu~?h 1J.
aoo~ 1y9 FacE 1?87
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