HomeMy WebLinkAbout1828 2',L3'762 M O' R T G A G E ~
- __C~tnp~cS~it~r;-Incarpara~d - - - - - - -
m„rt~,•.~g~,r, in c~?n.ideration of the princip;~l sum specifiecl in the prnmissor~ note hereuf:.er described. r~
i~~e~1 fr~~m OLTI)OOR RF.SORTS OF A~tERICA. INC., a corporation urganized and e~isting under the I.aK•s
~~f the State of Tennessee. the Mortgabor, hereb~~ on this___~th ,day of__OCtOb@1'_ 19Z1___,
r1,~ ~rt~;a~,•e, t~~ the ~tortgagee the real propert~• in St. Lucie C~?unt~•, Florida, ~escril~ed as: _
SECTION II
I~t h'o.__ 1049-N _ iii that certain condominium knoH•n as O[J'CDOOR
RESORTS OF AMERICA AT tiETTLES ISLA1'D, as shown b~• plat
i•ecurdeci in the Office of the Circuit Court in a~id for St. Lucie County,
F'lorida, in Plat Rook 16, page 1:1A through 1J.
THIS 1S A PL,BCHASE MO\EY 110RTGAGE
~et~urit~• for the p.~tment of the pron~i.sory note of ~~•hich the follo~~•ing is a coP3•:
Instoltment Note and Disctosure Statement '
~~~1~ AECEIitED =1~"! `N PAYk:EtiT QF TAXES St. LUCiC COGfl '
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(Hlf ON CLASS'~ IRT1:i,.~S~_, PE~i_,',;~L?3CP~RiY, - ~'~OCI(~a i
PURSU,lN1 TO CFiAI'iER 71-134, A:,~S OF 1911. OCtObQI" 7~ ~
ROGER POITP,,,S, C~e~k C~rcuit Court, SL l~~ae Co. F7~. 19 _ ~
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F~~r l'alue Recei~~ed, I, ~~•e or either of us prumise to pay to the order of OUTUOOR RESORTS OF
`1F.t~I('A. INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
j ~~~~~;~,-n.ite in .~•riting, the sum of Seven Thousand Six Hundred Four pol lars & Fortx~
- - ) Dollars,
i ?hi. .um Leing the Total of Payments referred to in the Disclosure Statement below. which inclvdes a FINANCE
i
f ~~fi aRGE on the amount financed, payable ir~_. S7x~ _ equal consecutitie monthly installments of
~ _ 126. 74 ____Qach, and the first. installment to become payaLle on the 1
S~_day of~ecember ~
1`? and ane ~uch installment to t,erome due and payable on the__.15t day of each succeeding month
~~~~til the w•hole ~f said indebtedness (Total of Pa~•ments) is paid. In the event of prepa~ment in full by cash -
~,t•f~~re the hna} intitallment date, the unearned portion of the FI\A1~CE CHARCE shall be rebated under ;
thF~ Rule of 7$'s.
~ In the e~•ent of default in the due and punctual paS•ment of any instaltment on this Note for a period of
chirty (30) days. or if an~ statement, representation or w•arrant~• in an~~ application for the credit evidenced i
this I~'ote is found to 1>e untrue in anS• material respect, or in the event THE UNDERSIGNED. WITHOUT ;
E TFIE PRIOR R'RITTEN COl\'SE:~'T OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT s
FnR ANY MORTCAGE ~YHICH 1S SECURITY FOR THIS ~'OTE) OR OTHERtVISE DISPOSE OF OR EN- '
~'ti:4iBER OR COMMIT Ah'Y RREACH OF THE MORTGAGE OR PERM[T OR SUFFER ANY LIEN TO ~
H:.1'IST ON THE REAL PROPERTI' PG`RCHASED BY TNE UI~DERSIGNED AND FINANCED THROUGH
"I'HE CREDIT EVII)EN('EI) B1' THIS i`'OTE or in the erent of the incompetency, insolvency (howsoever
; c~~•idenced) or bankruptc,r• of anyane or more of the under~igned, then the entire remaining indebtedness then i
~iue shall become immediately due ~ind pa}~able at the option of the holder hereof v?ithout demand, presentment -
~~r notice of any kind. AnS failure of holder to erercise ~aid uption shall not constitute a waiver of the right
t~~ exercise the same at any other time.
Time is of the essence of this ~'ote. In the e~•ent anti• installment is not paid when due or within ten
~3~iy~s thereafter, the holder may collect, and the undersikmeci a~;rees ta pay a late charge on such ~pstallment in ?
an amount equal to 5' ~ of such in~tallment or S5. H•hicherer i, les,, and in the event this Note is eoltected by
1<s~c or throuKh an attorney at law• or under advice thereof, the under.i~,?ned agrees to pa~ all casta of collection.
includinK reasonable attorney's fees and court costs to the extent percnitted Uy Florida law~.
The undersigneci and all endorsers or other parties to this note }ointl~• and se~•erally transf~r, c~nvey and
a::si~,rn to the H~?lder a sufficient amount of such home,tead or exemption as may t,e allowed, including such
h~~metitead or exemption as may t,e set apart in hankruptc~~, tu pa~• this note in futl, ~•ith ali costs=of collection.
and do hereby direct any trustee in bankruptcy ha~~ing prnse„ion ~?f such homestead or exemption to deliver to
the Holder a sufficient amount of property or mone~• set apart a~ exempt to pay the indebtedne~s evidenced
hereby, or an~• renewal thereof, and do hereh}•, jointly and se~•erall~•, appoint the ~~otder the attorney in fact for
each of them, to claim any and all homestead exemptions all~~~sed l,~• laH•.
A 6rst mortKaKe for the sec~yX~iq(,t~~ afuresaid inde!?tedness is retained t?~• OL~TI?OOR RESORTS OF
a~1ERICA, INC., on I.ot No. ~049N 1n~t a~~cer ain Condominium known as OUTDOOR RESORTS AT hETTLES
ItiI.A;~'[1, and on any improvements, fixtures or after acquired pmperty added thereon, as shown by plat re-
ct~rdeci in the Office of the Circuit ('aurt in and for St. Lucie ('~uR ty Florida, in ~ t Book 16, page 1:1A
ihrouk?h 1J. 6~~K ~c~~ r!`.: ~,~7 /
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