HomeMy WebLinkAbout2894 ; . - - • _ ; --p,.,,~ - _^,'R~:~~~; 6•
~ ~ M 0 R T Q~AsG E~` es,osis of America. IN3.
R
Ralph C Fc Shi rl t3~ Rnre~i r?1r~ ~ Yi h' ~g~
. f...a.r..,.~- .
,~~p .
the mortgagor~ in consideration of the principal sum speci ed in the promiqaory note hereafter described. re-
ceived from OUTDOOB RESORTS OF AMERICA. INC.. a corporation orga~fi~ed and existing under the Laws
of the State of Tennessee. the Mortgagor, hereby on this 20 day of Jannar~C . 19~~.
mortgages to the Mortgagee the real property in St. Lucie County. Florida~ described aa:
Lot No 1335/II .in that certain condominium known as OUTDOOR
BESORTS OF AMERICA AT NETTLES ISLAND. as ahown by plat
recorded in the Office of the Circuit Court in and for St. Lucie County~
Florida, in Plat Book 16~ page 1:1A through 1.T. _
THIS IS A PURCHASE MONEY MORTGAGE
~s security for the payment of the promissory note of which the following is a copy:
Installment Note ond Disclosure Statement
g 6240.00 _ St. I,u~ie County , Floriaa
pocumemary S'a^~ps .T8IIt18Ty 2~ _ 19 72
atlized original not~
For ~a
u~eived. I~ we or either of us promise to pay to the order of OUTDOOB RESOftTS OF
AMERICA, INC.. P. O. Box 1116, Jensen Beach, Flor ida~ 33457, or any other place as the holder hereof may
de~ignate in writing, the sum ofl~ia thousand two hundred forty and no 1Q0 6240.09 ~11~,
this sum being the Total of Payments referred to in the Disclosure Statement below, which includea a FINANCE
CHAftGE on the amount financed~ payable in_~ equal consecutive monthly installments of
li g fi5.00 each. and the first installment to become payable on the 1St day of I"~areh ~
~ 1"_~2. and one such installment to become due and payable on the lat d~y of each succeeding month
j t~ntil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
t~efore the final installment date, the unearned portion of the FINANCE CHARGE ahall be rebated under
the Rule of 78'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
by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (ERCEPT
FOR ANY MOATGAGE WHICH 1S SECURITY FOB THIS NOTE) OR OTHERWISE DISPOSE O~ OR EN-
CUMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OIt SUFFEIi ANY LIEN TO
EXIST ON THE BEAL PBOPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (bowsoever
evidenced) or bankruptcy of anyone~ or more of the undersigned~ then the entire remaining indebtednesa then
due shall become immediately due ar~d payable at the option of the holder hereof without demand, presentment
ar notice of anq kind. Any failure of hoider to exercise said option shall not constitute a waiver of the riglit
to exercise the same at any other titr~e.
. -a ~
~ ;'~=ime is of the essence of this Note. In the event any installment 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 inatallment in
~ art~ amouilt equal to 5 J oi such installment or $5. whichever is less, and in the event this Note is coAected by
law or through an attorney at law or under advice thereof. the undersigned agreea to pay all costa of aollection,
including rea.gonable 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 tranaftt~ convey and
assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including auch
homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with aU coata of collection,
- and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption'to deliver to
the Holder a suffScient amount of progerty or money set apart as~ exempt ~ to pay the indebtedn~as 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 an~and all homestead exemptions allowed by law. '
A first mortgage for f~e aec etytQf tnhe~foresaid indebtedness is retained by OiJTDOOR RE30RT3 OF
AMERICA, INC.~ on Lot Nol ~n ~a'~tc ertain Condominium known a~ OUTDOOK BESOItT3 AT~ NETTLES
ISLAND, and on any improvements. fixtures or after acquired property added thereun, aa ahown by plat re-
corded in the Oftice of the Circuit Court in and for St. ~LRcie County, Florida, in P1at Book 16, page 1:1A
through 1J. d~~1 ~~28~
d - - - - - ; ;
Y; ` ~ _ _ `z"`"~-~`~