HomeMy WebLinkAbout1150 M 4 R T,G A G E 2253'~3 '
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the mortgagor. in consideration of the principal sum specified in the promissory note hereafter descnbed. r~
c•eived from OUTDOOR RESOBTS OF AMERICA. INC.~ a corporation organized and existing under the Laws
of the State of Tennessee, the Mortgagor. hereby on thia 16 d~y of ~ecember _ , 19~1.
mortgages to the Mortgagee the real property in St. Lucie County, Florida, described as:
Lot No~100/II in that certain condominium known as OLTI~OA
RESORTS OF AMERICA AT NE'I"TLES ISLAND, as ahown by plat
recorded in the Oftice of the Circuit Court in and for St. Lucie County.
Florida. in Plat Book 16. page 1:1A through 1J.
THI3 I3 A PUItCHA3E MONEY MORTGAGE
As security for the payment of the promiasory note of which the following is a copy:
Installment Note and Disclosure Statement
~$775, pp St. Lucie County , Florida
;::umentaty ~mPs DeC6IDb@T 1.6 19~
;t;xed o~iginal not~
~n6 ~Value Received~ I, we or either of us promise to pay to the order of OUTDOOR RESORTS OF
A1~iERICA, INC.. P. O. Box 1116~ Jensen Beach~ Flor ida, 33467~ or any other place aa the holder hereof may
designate in writing. the sum of Eight thousand seven hundred sevent ~$775_pp ;
this sum being the Total of Paymenta referred to in the Disclosure 3tatement below; which includes a FINANCE !
CHARGE on the amount flnanced. payable in 60 equa] consecutive monthly installments of
g 146.25 each. and the first installment to become payable on the lst day? af Februar~_,
' 19Z, and one such installment to become due and payable on thp lst day of each succeeding month
` until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the final installment date~ the unearned portion of the FINANCE CHAAGE ahall be rebated under
~
; the Rule of ?8's. -
~
~ In the event of default in the due and punctual payment of ar~y inatallment on this Note for a period of
; thirty (80) deys~ or if any atatement, representation or warranty in any application for the credit evidenced
~ by thia Note ia found to be untrue in any material reapect~ or in the event THE i1NDER3IGNED, WITHOLTf
£ THE PRIOR WRITTEN CONSEh'T OF THE HOLDE~t HEREOF. SHALL SELL~ ENCUMBEB (EXCEPT
FOR ANY MO~tTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHEBWISE DISPOSE OF O~t EN-
a CUMBER OR COMMIT ANY BAEACH OF THE MORTGAGE OR PERMIT OK SUFFEB ANY LIEN TO
~ EXIST ON THE REAL PROPERTY PUItCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ THE CBEDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howaoever
~ evidenced) or bankruptcy of anyone or more of the underaigned, then the entire remaining indebtedness then
~ due ahall become immediately due and payable at the option of the holder hereof without demand. presentment
$ or notice oi any kind. Any failure of holder to exercise said option ahall not conatitute a waiver of the right
~ to exerciae the same at any other time.
1~me ia of the esaence of this Note. In the event any inatallment is not paid when due or within ten
~ daya thereafter~ the holder may collect, and the underaigned agrees to pay a late charge on such installment in
~ an amount equal to 5~/ of such installment or $b, whichever is less, and in the event this Note ia collected by
~ law or through an attorney at law or under advice thereof~ thr undersigned agrees to pay all costs of collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law.
~ The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
assiprn to the Holder a suR9cient amount of auch homestead or exemption as may be allowed, including such
homeatead or exemption as may be aet apart in bankruptcy, to pay this note in full, with all costs of collection,
and do hereby direct ar~y trustee in bankruptcy having possession of such homestead or exemption to deliver to
- the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
- hereby, or any renewal thereof, and do hereby~ jointly and severally, appoint the Holder the attorney in fact for
~ each of them, to claim any and all homestead exemptions allowed by law.
- A firat mortgage for the secu$~~~~e ~fpresaid indebtedneas is retained by OiITDOOR RESOATS OF
AMERICA, INC., on Lot No.11.Q.Q,tin that certain Condominium known a~ OUTDOOR RESORTS AT NETTLES
t~ ISLAND~ and on any improvements, fixturea or after acquired property added thereon. as shown by plat re-
~ corded in the Oftice of the Circuit Court in and for St. Lucie County~ Florida, in PLt Book 16, page 1:1A
: through 1J.
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