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HomeMy WebLinkAbout1140 r M O R T G A G E 2~5365 ~ . ~ $8r0 d W. MCCSrthy~~~~ Celts I~e ' ~ the mortgagor. in consideration of the principal sum specified in the promissory note hereafter descriUed. r~ ~•c,i~~eci from OUTDOOR RESORTS OF AMERICA. INC., a corporation orgxnized and existii~g under the Laws ~,f the State of Tennessee, the Mortgagor, hereby on this 24 -day of January ~ 19~~ m~,rtgages to the ~+Iortgagee the real property in St. Lucie County. Florida~ described as: Lot No. 30/I in that certain condominium know:~ as OUTDOC~R RESORTS OF AhiERICA AT NETTLES ISLAND, as show n by pfat recoi•ded in the OflSce 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 biORTGAGE i a. securit~• for the payment of the promissory note of which the following is a copy: , Installment Note and Disclosure Statement ' t ~ __~3~.00 St. Lucie County , Florida Januar~_24 19~ ~ ; For ~'alue Received. I, ~•e or either of us prom ise to pay to the order of OUTUOOft RESORTS OF ~~IERICA, Ih'C.. P. O. Box 1116. Jensen Beach, Florida. 33457~ or any other place as the holder hereof may cit~~i~?nate in ~~riting, the sum of Six t ousand fou~_ hundred thil`t}~ five ( Dollars, ~ t}~i, sum bein~,? the Totai of Payments referred to in the Disclosure Statement below. which includes a FINANCE ~'F~ARGE on the amount financed, payable in 60 equal consecutive monthly installments of S_L47._~_ each, and the first installment to become payable on the lS tday of-~reh ~ ~ I 1~1 , and one such installment to become due and payable on the-1St dap of each succeeding month j ~~~~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash E 1,E~fore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebated under ; the Rule of i8'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 ~ this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOLJT I ~ TFiE PRIOR ~'VRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT ~ g FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF O~t EN- ~ ('L'MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO ~ F.YIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH ; ~ THE 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 due shali become immediately due and payable at the option of the holder hereof without demand, presentment ~ or notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver of the right ~ to exereise the same at any other time. ' ~ Time is of the essence of this Note. In the e~~ent any instatlment is not paid when dve or within ten ~ days thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in ~ an amount equal to 5`,''. of such installment or $5, whichever is less, and in the event this Note. is collected by ~ law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of coll~ction, = including 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 severally transfer, convey and F assign to the Holder a sufficient amount of such homestead or exemption as may be allowe~i, including such i 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 ~a the Holder a suflicient 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 Hclder the attorney in fact for `P~ each of them, to claim any and all homestead exemptions allo~ed by law. ~ A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF ~AIERICA, INC.. on Lot No.~in that certain Condominium known as OUTDOOR RESORTS AT NETI'LES ~ ISLAND, and on any improvements, fixtures or after acquired pmperty added thereon, as shown by plat re- ~ corded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A through 1J. S~~D ~~i~ ~ ~ _ _ - - ~ - ; _ ,a~- _ ,~;M _ . - ~ , ~ _ _ _ ~ .~~X~ °~*'~~'sTH'} _ . .-e<__~._ . _ . . .t.