HomeMy WebLinkAbout1798 ~3'~~ MORTGAGE - ~o~~~
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rh~~ nu~rt~,?~,?or, in c~?~isideration of the princip.~l sum specified in the promissor~• note h~reafter descril~ecl, r~
~~•i~~ed frum OL"1'T~OOR RF.SORTS OF AMERICA, INC., a corporation organiz a~ e. ~~tin~,• iuider the I.aws
,~i the State ~~f T.~~u~e..ee, the Mortgagor, hereUy on this~ -__da~• of_- 19~1
r~:~~rt~a~,~e~ t~? the ~Iui•tKa~;ee the real propert~• in St. Lucie Count~~, Florida, described a~:
I.ot I~'u._ in thut certain condominium kno~•~i as OL`TI~OR
RESORTS OF ~1~1ERiCA AT ~E1"fI.F.S ISI.AND, ~is sho~~•n b~> plat
re~•~~rded in the Otlice of the Circuit (burt i~i and for St. I.ucie ('ount~'.
Fl~rrida, in Plat Ba~k 16, page 1:1A throa~,?h 1J.
THIS IS A PURCHASE ~iONEI' MORT(:A(:E
~EK•uritc- f~?r thc~ p.?~•m~~nt c?f the pr~~mi„ory note of which the folloH•inK i, a cuP3~:
Installment Note ond Disclosure Statement ~ -
r, e~r~. ~.T CF Td~;_S -f
_ ~F~:~~lt~ S / 7 ~ c~11-y..J , Florida
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~ 0 E Uii LC0.: i .:BtE i . ; ;:;;.:~1 V:iQPEhIY. - ~y
PuFSU,~~r Tc C~;~~ ~c~ n-i~~. A;:TS J~ I971,~QC~ ~C^+~-C~'"GC~-L/ _ 191 ~
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RLX,E~t N0~1:~1~, G:.tic C~~:a~t Ca.,*4 S!. luae Co. Fla.
~'ur ~'alue Recei~•ed, I. ~~•e or either of us pr~~mise tu pay to the order of OUTDOOR RESORTS OF
1~1ERI('A. I:~('., P. O. Rux 111 , Jensen Beach, Florida, 33457. or an~ o er place as the holde hereof may
,'~•~i~nate in «~ritin~,•. ihe sum of_ _ _ _ _ ~ 1 Dollars,
in ? e otal of Pa ~men s referred to in the i.closure Statement Kelow. which inc udes a FINANCE
; ~h~ _um e th T ~ -
; I A RGE on th ~mount financed, payable in_ - d___. __-equal consecuti~g monthly installments of F
{ . _/~~n_ ° ~4 :
. each, and the first in~tallment to become payable on th~
~___day of
i 1 t? 'x ~ and m~e such in~tallment to i,ecome due and payaLle on the_ - day of each succeeding month
~ .ntil the Hfiole ot said indehtedness (Total of Payments) is paid. In the event of prepa~~ment in full by ca.gh
~ ~;t•f~~re the tinal installment date, the ?u~exrned portion of the FINAI~'CE CHARGE shall be rebated under
~ ~h~~ Rule of 78's.
~
~ In the erent of default in the due and punctual payment of any installment on this Note for a period of
a 1h;rt~• (30) days, or if an~ statement, representation or warranty in any application for the credit evidenced
~ t~ti~ thi, Note is found t~ t,e untrue in an~• material respect, or in the event THE UNDERSIGNED. WITHOI3T
~ 'f11E PRIOR «'RITTEti ('n?~'SE\T OF THE HOI.DER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
~ FOR AN1' MnRTGAGE «'HI('fI l~ SE('URITY FOR THIS NOTE) OR OTHER~'VISE DISPOSE OF OR EN-
~ ~'U:~iBER OR ('Ob'IMIT Atil' RRi~:A('H OF THE MORTGAGE nR PERMIT OR SUFFER ANY LIEN TO
~ f•:\IST Oh' THE REAI. PRO~'~:RT1' PLR('HASED BY THF: UNDERSIGI~ED AND FINANCED TI-€ROUGH
~'IiE CREDIT EVII)EN('EI) R1' T~iIS NOTE or in the event of the incompetency, insolvency (howsoever
~
~ c•~•idenced) or i,ankruptcy of an~-one or more of the undersigned, then the entire remaining indebtedness then
~ ~i~~e shaU become immedi~itelt• d!~e <<r.d pa~~able xt the option of the holder hereof without demand, presentment
~ ~~r notice of any kind. Any failure of hoider tu exer~ise said option shall not constitute a waiver of the right
w t~~ exercise the same at anS• other timc .
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Time is of the essence of thi~ ti~?te. In the e~~ent anS• installment is not paid when due or within ten
" ~i<iys thereafter, the hulcter may c~~llect, and 1he undersigned a~;reec to pxy a late charge on such instaliment in
y~ .?n amount eyual to r,' :~~f such in~ta)lment or S5. whiche~•er is les~, and in the event this Note is collected by
- ?aw ~?r thri,u~;h an xttorne}• at laK- ~~r under advice thereof, the under::iKned agrees to pay all costs of collection,
=z includinK rc~onaLle attvrney's fee~ and court costs to the extent permitted by Florida law.
z; The undersignc~ci and all endorser~ or other partie. to this note jointly and se~erally transfer, convey and
assi~n to the H~~leier a snfTicient amount of such homestead or exemption as may be allowed, includin~ such
homestead or exemption as may l,e set apart in bankruptcy, to pay this note in full, with all costs of collection.
and do hereby direct any trustee in bankruptcy having pussessi~m of such home.tead or exemption to deliver to
the Holder a~ufficient amount of propert5 ~~r money set apart x~ esempt to pay the indebtedness evidenced
herehy. or any renewal thereof, and do herebS•, jointly and se~•erall}•, ap~int the I~older the attorney in fact for
- ~~ach of them, to claim any and all hometitead eaemptinns allu«~ed hy laH~.
_ A first mort~a~;e for ti~ sec rity af the aforesaid indel~tedne.s is retained by OUTDOOR RESORTS OF
`y~ .11tF:RICA, INC., on l.ot \'o. _~n that certain Condominium known es OUTDOOR RESORTS AT NETTLES
Iti1.AtiO, and on any improvement5, fixtures or after acquired property added thereon, as Shown by plat re-
r~~rded in the Oft'ice of the Circuit ('ourt in and for St. Lucie ('nunty, Florida, in Plat Book 16, page 1:1A
_ throu~,?h 1J.
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