HomeMy WebLinkAbout1092 M O R T G A G E 225325 ,
Will L. Kellogg and P~tricia ~llogg (his wife )
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the murt~;agor, in consideration of the principal sum specified in the promis.sory note hereafter described. r~
r~~i~•ecl fmm OUTDOOR RESORTS OF AMERICA~ INC., a corporation orgHnized and existing under the Laws
~~i the State of Tennessee, the Mortgagor, hereby on this 24th_day ,f_~ ~eeember__ 19~,
m~~z•t~,•~iges to the liortgagee the real property in St. Lucie County, Florida. described as: :
Lot No._3~24~II__in that certain condominium known a~ OUiDOOR
RESORTS OF AMERICA 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 IS A PURCHASE MONEY MORTGAGE
.ecurit~~ for the p~~•ment of the promissory note of which the following is a copy :
Documentary Stam~s ~ ~ • ~ ' ~ .
et~~~ ~~.b"~~ Instaliment~ Note and ~ Disclosure Statement
~pd canceiled
-Q,3~0.00 _ St . Lucie CountY , Flor;da
December 24th lg ?1
For ~'alue Recei~ecl,--i;-~+e or either of us pmmise to pay to the order of OUTDOOR RESORTS OF
:~~1ERI('A, INC.. P. O. Box 1116, Jensen Beach, Florida. 33457, or any other place as the holder hereof may
~~E~,i~,rnate in «•ritin~;, the sum of ~ine thousand three hundred sixtp ~9,360.00 ~~Uars,
ti~is cum bein~; the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
t'IiARGE on the amount financed. payable in_~?0 equal consecutive monthly installments of
Ij ~~~6 ___each, and the first. installment to become payable on thp 15th day of February
.
~ 15tn -
~ 1~ 72_, and one such installment to become due and payaUle on the- day of each succeeding month
; ~~ntil the whole of said indebtednes.s (Tatal of Payments) is paid. In the event of prepayment in full by cash
j 1~e~fore the fina} instaliment date. the unearneci portion of the FINANCE CHARGE shall be reUated under
4 the Rule of 78's.
~ In the e~-ent of default in the due and punctual payment of any installment on this Note for a period of
F thirty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
~ i~~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR ~VRITTEN CONSEr'T OF THE HOLDEft HEREOF, SHALL SFLL, ENCUMBER (EXCEPT
~ F(1R ANY MORTGAGE R'HIGH 1S SEGURITY FOR THIS I~`OTE) OR OTHERWISE DISPOSE OF OR EN-
~ CL`MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFEB ANY LIEN TO
~ ~;.1"IST ON THE REAL PROPF.RTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ TIiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency ~(howsoever
~ e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
` ciue shall become immediately due and payable at the option of the holder hereof without demand, presentment
~ ~~r notice of any kind. Any faiiure of holder to exercise said option shall not constitute a waiver of the right
~ to exercise the same at any other time.
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Time is of the essence of this 1~'ote. In the event any installment is not paid when due or within ten
"y days thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in
= an amount equal to of such instaliment or $5, whichever is less, and in the event this Note is collected by
law or throu~h an attorney at laK• or under advice thereof, the undersi~ned agrees to pay all costs of collection,
~ includin~ reasonable attorney's fees and court costs to the extent permitted by Florida law.
- The undersigned and all endorsers or other parties to this note jointly and se~erally transfer, convey and
assign to the Holder a sufficient amount of sueh homestead or exemption as may be ailowed, including such
homestead or eremption as may be set apart in i~ankruptcy, 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 sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
herebt~, or any renew•al thereof, and do hereby. jointly and se~•eraliy, appoint the Holder the attorney in fact for
- each of them, to claim any and all homestead exemptions aliowed by law.
A first mortgage for the security of the aforesaid indebteclness is retained by- OUTDOOR RESORTS OF
- Ai1ERICA, INC., on Lot \'o360/Ilin that certain Condominium known as OUTDOOR RESORTS AT NETTLES
~ I5LAN1~, 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, Florida, in PIAt Book 16, page 1:1A
~;b throuRh 1J.
~3 g~~200 p~i0~t
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