HomeMy WebLinkAbout1818 223'7S4 MO RTGAG E . ~
Travel Castles, Inc.~ 214 Wors~ster St.~} Welles~~y Hills, ~ss. Q2181,
the murt~,raKor. in consideration of the principal sum specified in the promissory note hereafter described. re~-
~~~~i~•ed from OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and existin~ ~inder the Laws
~~f the State of Tenne,see, the Diortgagor, hereby on thit_ 1~_~day of Jurie 19__~l.
m~~rtgages t~~ the b'Iortgagee the real property in St. Lucie County, Florida. described as:
Section 2
Lot No.~71~ ____in that certain condominium known as OUTDOOR
RESORTS OF AhiER1CA AT NETTLES ISLAND, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16, page 1:1A through 1J.
THIS 1S A PURCHASE MONEY MORTGAGE
a. securit~• for the payment of the promissory note of which the following is a copy:
Instaltment Note and Disclosure Statement
ss,
~775•00 RECEtSEO ~ f 7_~ . i~i ~~...~tr;; ~f ;;:_r~; St. Lucie County . Florida
~ -
DIIE 0!1 Ctn:i.i 'C' !1T~":L'.~;.LE Pi_ ~ : ' ...1 ` ~,aP.niaY,,
PURSUANT TO Cii:.P~Fi; 71-134, A.i~ ~}F :~ll. /~G(,' June 1 ~ _ 1J~
R~ER POIIR,IS, G~rn C:ceu;t G:u:~ ~t. l~:c.e Co. Fla.
For ~'alue Received. I, ~e or either of us promise to pay to the order of OUTDOOR RESORTS OF
A`iERICA, INC.. P. O. Box 1116. Jensen Beach. Flor ida, 33467, or any other place ~s the holder hereof may
! de~i~nate in ~riting, the sum of E~ght thousand seven hundred sev `t,v 8775.00 ) Dollars,
~ this sum being the Total of Payments referred to in the Disclosure Statement be o, hich includes a FINANCE
~ ('HARGE on the amount financed, payable in 60 equal consecutive monthly instaliments of
~ lst da tember
~ g_ _ 1~+6 t~ each, and the first. installment to become payable on the - y of~~~ .
! 1~1 _ 71 , and one such installment to become due and payable on the- l s t day of each succeeding month
~ t,ntil the whole of said indebtedness (Totai of Payments) is paid. In the event of prepayment in full by cash
~ k~efore the final installment date, the unearned portion of the FINANCE CHA~tGE shall be rebated 'under
~ the Rule of 78's.
$ In the event of default in the due and punctual payment of any installment on this Note for a period of
€
~ thirty (30) days. or if any statement, representation or warranty in any application for the credit evidenced
~ by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOVT
Tt~E PRIOR WRITTEN CONSErT OF THE HOLDER HEREOF. SHALL SELL. ENCUMBER (EXCEPT
; FOR ANY MORTGAGE WHICH 13 SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~ CL'MBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFF~:R ANY LIEN TO
~ EYIST ON THE REAG PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
k THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
~ evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~ due shall become immediately due and payable al the option of the holder hereof without demand, presentment
or notice of any kind. Any failure of holr~er to exercise said option shall not constitute a waiver of the right
to exercise the same at any other time.
Time is of the essence of this h'ote. In the event any installment is not paid when due or within ten
days thereafter, the holcler may collect, and the undersigned agrees to pay a late charge on such installment in
F an amount ~qual to 5',~ of such installment or $5, whichecer is less. and in the event this Note is collected by
~t law or thrdt~h an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
~ including reasonable attorney's fees and court costs to the extent permitted by Florida law.
The underaigned and all endorsers or other parties to this note jointly and severally transfer, convey and
- assign to the Holder a sufficient amount of such homestead or exemption as may be allowed. including such
homestead or exemption as may be set apart in bankruptcy. to pay this note in full, with all costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
~ the Holder a suf~'icient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or~ any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
each of them, to claim any and alt homestead exemptions allowed by law.
A first mortgage for the s~rity of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
- A:~IERICA, INC., on Lot h`o.~~lct~f~P~r~ain Condominium known aa OUTDOOR RESORTS AT NE1"fLES
r~' 1SLAND. and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
corded in the Office of the Circuit Court in and for St. Lucie County, F'lorida, in Plst Book 16, page 1:1A
a through 1J.
Y~~ ~~~~i99 f
~ _ - - - ~ -
}
_ _