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HomeMy WebLinkAbout1160 i 225381 ~ ` MORTGAGE Tho~as J. and Bernice Kerrins_ 808 So. Humphrey~ Cak Parkz I11._, !tie nwrt~,?~~or. in ~cry~idieration of the principal sum specified in the promissor~• note hereafter de~crihed, re- ~ ~~~~i~•ed fr~m OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and exi~ting unc~er ? h~ La~~•s ~ ~~f the State of Tennessee~ the Mortgagor, hereby on this-24 _da~• of- _1'~.e~_~___ 1~ m~~rtgage. to the liortgagee the real property in St. Lucie Count~•, Florida, described as: Lot I~'o.~~8~II in that certain co~idominium kno~vn as OUTDOOR RESORTS OF AMERICA AT NETTLES ISLAND, as sho«•n b~~ plat recorded in the Office of the Circuit Court in and for St. Lucie Count~•, Florida, in Plat Book 16, page 1:1A through 1J. THIS IS A PURCHASE 1110\EY ~fOftTGAGE ,ecurity for the pa~ ment of the promissory note of which the following is a coFy : Installment Note and Disclosure Statement ~ 101608.00 Jensen Eeach~_~ Florida Dec. 2_ 9~_---19?~- F~>r Value Recei~•ed, I, He or either of us prumise to pay to the order of OUTDOOR RESORTS OF f :1~1I~:RI('A. INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may ; <<t~;;~,rnate in ~rritin~,*, the sum of Ten thousand six hundred eight and ~ 00~100 ) Dollars, ~ thi. ~um Ueing the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE ` i`IiARGE on the amount financed, payable in -4~ equal consecutive monthly installments of ~ j ? 1 10._~0 _ each, and the first installment to become payable on the ~ Stday of Feb. , ~ ' ~ 1~ 7?, and one such installment to become due and payable on the-1 s t day of each succeeding month ' ~ t,;itil the «~hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full Uy cash ; ` I~~~tore the finai installment date, the unearned portion of the FII`'ANCE CHARGE shall be rel,ated under `~i~ ° 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 ` tnirty (30) days. or if any statement, representation or warranty in any application for the credit evidenced , ~ this Note is found to he untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT ~ THE PRIOR R'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT ~ FnR ANY MORTGAGE VPHICN 13 SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR Eh'- ~ ('L'MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO ~ E.l'[ST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH ~ ~ THE CREDIT EVIUENCED 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 ! ~ clue shall become immediately due and payable aL the option of the holder hereof without demand, presentment ~ ; ~~r notice of any kind. Any failure of holder 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 I`'ote. In the e~•ent any installment is not paid when due or within ten " c~ays thereafter. the holder may collect. and the undersigned agrees to pay a late charge on such installment tn ~ ~ an amount equal to 5~~ of such installment or $5, whiche~~er is less, and in the event this Note is collected by - law or through an attorney at law or under advice thereof, the undersiRned agrees to pay all costs of collection, c: ; _ includin~ reasonable attorney's fees and court costs to the extent permitted by Florida law. p~ ~ The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and - ~~sign to the Holder a suflicient 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 posses~ion of such homestead or exemption to deliver to ; the Holder a sufl5cient amount of property or money set apart as exempt to pay the indebtedness e~ idenced ~ = hereUy. or any renewal thereof, and do hereby. jointly and ,e~•erally, appoint the Holder the attorney in fact for } - each of them, to claim any and all homestead exemptions allo~~•ed by law. { t2ti A first mortgage for the security of the aforesaid indebtedness is retained by OiJTDOOR RESORTS OF ; A~iERICA, INC., on Lot I`'o.~~that certain Condominium known aa OUTDOOR RESORTS AT NETTLES ~ ISI.Ah'I), and on any improvements, fixtures or after acquired pmperty added thereon, as shown by plat re- ~ c~~rded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, paRe 1:IA ~ ~r.~-, i.i _ ~ ; - - - - - - - ` ~ ~ ~ - _ - - ~ ~ ~ : ~ ~-~~.5°~~~ , ~ _a _ . f s,~~~