HomeMy WebLinkAbout1165 ~ M O R T G A G E 225385 / r'~'
Donald E. & Irene P. Hansen~ 1~6 8and~Island Drive~ Bricktown~ N. J,.
the mart~;agor. in consideration of the priiicipal sum specified in the promissor~• note hereafter described~ re-
~~~~i~•eci from OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the Laws
71 ;
~~f the State of Tem~essee. the Mortgagor. hereby on thi~_-day of Nnnemhpr 19 .
m~~i•tgages to the Dlortgagee the i•eal property in St. Lucie County. Florida, described as:
Lot No.1101/II ~n that certain condominium known as OUTDOOR
RESORTS OF A1~IERICA AT NETTLES ISLAI~'D, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie County.
Ftorida, in Plat Book 16. page 1:1A through 1J.
THIS IS A PUftCHASE MONEY ?110RT(:AGE
a. .ecurity for the payment of the promissory note of which the follov?ing is a copy:
Installment Note and Disclosure Statement
~ 9 }~1{~} St. LLei e Co~t~, Florida
an x~ or;°w~ ~ November_ 18 _ 19~ ~
ena ~
For ~'alue Recei~•ed, I, «•e or either of us promise to pay to the order of OUTDOOR RESORTS OF
:\ZtERICA, INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
~i~~~i~,~nate in ~~~ritinfi. the sum of N~~_.~ ousand_nin~ ( 99~+4•~+ ) Dollars.
tt~i, suin being the Total of Payments referred to in the Disclosure Statement o, ~hich includes a FINANCE
i ~~fiARGF, on the amount financed, payable in 60 _ equal consecutive monthly installments of
; ; 16~. 24 __QRCh, and the first. instaAment to become payable on the-l~~day of~I8nuAZT ~
~ 19 72_, and one such installment to become due and payable on the-- 1St day of each succeeding month
~ t~ntil the ~chole of said indebtednes.s (Total of Payments) is paid. In the event of prepayment in full by cash
s t~t~fore the final installment date, the unearned portion of the FINANCE CHARGE shall be reUated under
~ the Rule of 78's.
r In the e~•ent of default in the due and punctual payment of any installment on this Note for a period of
E t}~irty (30) da~~s, or if any statement, representation or warranty in any application for the credit evidenced
~ h~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
~ THE PRIOR «'RITTEN CONSE;~T OF THE HOLDER HEREOF. SHALL SELL. ENCUMBEB (EXCEPT
~ FnR ANY MORTGAGE w'HICH 13 SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~ ~'L'MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
~ F.?~IST ON THE REAL PROPERTY PURGHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
~ e~•idenced) or Uankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~ due shall become immediately due and payable at the option of the holder hereof without demand, presentment
~ ~~r notice of any kind. Any failure of holder to erercise 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 event any installment is not paid when due or within ten
~f~ days thereafter, the holder mav collect, and the undersiAned agrees to pay a late charge on such installment in
: ~in 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 undersigned agrees to pay all costs of collection,
includinK reasonable attorne~•'a fees and court costs to the extent permitted by Florida law.
The undersigned and ali endorsers or other parties to this note jointly and severally transfer, convey and
iiSSIF(Il to the Holder a sufi'icient amount of such homestead or exemption as may Ue 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 herebS~ direct any trustee in bankruptcy having possession nf such homestead or exemption to deliver to
- the Holder a sufficient amount of property or money set apart a~ exempt to pay the indebtedness evidenced
hereby~, or any renewal thereof, and do hereby, jointly and se~•erally, appoint the Holder the attorney in fact for
- each of them, to claim any and all homestead exemptions allowed by law.
A first mortgage for the secu~ity~~fi~
e~fpresaid indeUtedness is retained by OUTDOOR RESORTS OF
A:1IERICA, INC., on Lot I~'o._1101~~ a certa~n1Condominium known aa OUTDOOR RESORTS AT NETTLES
ISLAND, 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 Plat Book 16. page 1:1A
through 1J.
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