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HomeMy WebLinkAbout2889 _ - - - _ _ . 228646 6 MORTG~~~,~ n,- lnis Ir,:trur;~ , ly::s~ Ra:.~,y !~[SLVIN K. or VIOLBT J. ~YSNG~?, hnsband and -wife, Dutdoor ResortS oi America. In~ ~ the mortgagor~ in consideration of the principal sum specified in the promissory notes hereafter described. re- ceived from OiTTDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the Laws of the State of Tennessee, the Mortgagor~ hereby on this 15th day of ~rch, ~ ~ 19~Z , mortgages to the Mortgagee the real property in St. Lucie County, Florida~ described as : Lot No12?2/II in that certain condominium known as OI3TDOOR RESORTS OF AMERICA AT NETTLES ISLAND. as ahown by plat recorded in the Office of the Cireuit Court in and for St. Lucie County. Florida, in Plat Book 16. page 1:1A through ld. THIS IS A PURCHASE MONEY MOBTGAGE _ As security for the payment of the promissory note of which the following is a copy: Instollment Note and Disclosure Statement g 3, 769.80 St. I,utcie County Florida ` potumentary Stamps an~~a ~~Q~~~ ~a lYlarch 15. 19 72 .na anc~IN~ For Value Received. I. we or either of us promise to pay to the order of QUTDOOR RESOItTS OF A4IERICA. INC.. P. O. Box 1116, de sen Beach, Flor ida, 33467. or any other place as the holder hereof may Three Tho~e~~ Sixty Nine & 80/100----- ~3, 769'.80~ ~Ilars. de~ignate in writing~ the sum of this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE CHARGE on the amount financed. payable in 60 equal consecutive monthly installments of ; 5 62.83 each, and the first installment to become payable on the lst day of ~y ~ ' I ~ 19 . and one such installment to become due and payable on the Bt day of each sucoeeding month ~ untii 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 CHARGE shall be rebated under , the Rule of ?8's. In the event of default in the due and punctual payment of aTMy 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 by this Note is found to be untrue in any material respect. or in the event THE IJNDERSIGNED. WITHOUT THE PRIOR WKITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- CUbiBEK OR COMMIT ANY BftEACIi OF THE MORTGAGE OR PEBMIT OIt SUFFER ANY LIEN TO EXIST 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 evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtednesa then due shall become immediately dae and payable at the option of the holder hereof without demsnd. presentment or notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver of the right to exercdse the same at any other time. Tlme is of the essence of this Note. In the event any installment is not paid when due or within ten ~ days thexeafter. the holder may collect~ and the undersigned agrees to paK a late charge on such instaUmQnt in ~ an amou~t 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 agreea to pay all costa of oollection, ' including fea.gonable attorney's fees and court costs to t he exten t permi t t e d by F lori d a law. The undersigned and aU endorsers or other parties to this note jointly and severaliy tranafer, convey and . asaign to t~e Holder a suff'icient amount of such homestead or exemption as may be allowed, iricluding auch homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costa~f coU¢ction, and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption:~ deliver to the Holder a suf~'icient amount of property or money set apart as exempt to pay the indebtedness evidenced hereby, or at~y 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. ~ - I A first mortgage for the aF. 't the ~oresaid indebtedness is retained by OUTDOOB BESORT3 OF AMERICA, INC., on Lot No 122 net~a~~certam Condominium known ~a OUTDOOB RESOItTS AT NETTLES ISLAND, and on any improvements, fixtures or sfter acquired prnperty added thereon, ss shown by plat re- corded in the Office of the Cireuit Court in and for St. Lucie County, Florida, in Plst Book 16, page 1:1A through 1J. 6001I ~1 PAG~ ~$86 _ ~ _ _ - - - - - v~~~~_.~.:~w _w _u .