HomeMy WebLinkAbout2909 i~r~~`~r _ This Insitu~?~~~r . . ~ _ .
M Q~ T G-~?-6, ~ lyn~ Rawiey
Outdooi Resorts Qt Amenc~ I~A.
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-~Delbert E. and Ruth F. Badgley, 130 Henry 8t. ~ Trenton, Ontario, Canada
the mortgagor. in consideration of the ptincipal sum specif~ed in the promessory i~ote hereafter described. re-
reiti~ed from OLJTDOOR RESORTS OF AMEItICA, INC., a corporation orqamized and existing under the Laws
of the State of Tennessee, the Mortgagor, hereby on thia~~. =-_day of Februar,y - 19_~2
mortgages to the Mortgagee the real property in St. Lucie County. F7orida. deacribed as:
Lot No 1334/II in that certain condominium known as OUTD008
RESORTS OF AMERICA AT NE'ITLES ISI,AND, as shown by plat ~
recorded in the Of!'ice of the Circuit Court in and for $t. Lucie County.
Florida, in Plat Book 16. page 1:1A through ld. '
THIS IS A PURCHA3E MONEY MORTGAGE
As security for the payment of the promissory note o~ which the following is a copy: ~
Installment Note and Disclosure Statement
~ 7020.00 St. Lncie County , Florida
pocurt+enlarY Siamgs
yiixed aigi~a' note Febrnary 16 19 '~2
Yq qt~ati~d
For Value Received. I, we or either of us prom ise to pay to the order of OUTDOOR RESORTS OF
AMERICA, INC.~ P. O. Box 1115. Jensen Beach, Flor ida. 33457, or any other place as~ the holder hereof may
designate in writing, the sum of SeveII thousand tventy and no/lOQ ~ 02p. pp~ ~,1j~~
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 monthl
y installments of
S~ each. and the first installment to become d
payable on th~~ ay of- April ~
19__~2, and one such installment to become due and payable on the 1st day of each succeeding month
until the whole of said indebtedri~s (Total of Payments) is paid. In the event of prepayment in full by cash
t~efore the finai installment date. the unearned portion of the FINANCE CHAAGE shall be rebated under
the Bule of 78's.
In the event of default in the due and punctual payment of at?y instailment 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 PftIOR WRITTEN CONSENT OF THE HOLDER HEREOF~ SHALL SELL. ENCUMBEft (EXCEPT
FOft ANY MORTGAGE WHICH 13 SECURITY FOB THIS NOTE) 08 OTHERWISE t~ISPOSE OF OR EN- ~
CUMBE~t OR COMMIT ANY BAEACH OF THE MORTGAGE OR PERMIT OA SUFFER ANY LIEN TO ~
EXIST ON THE REAL PftOPERTY 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 indebtedness then
due shall become immediately due and payable at the option of the holder hereof without demand, presentment
or notice of any kind. Any failure of holder to exercise said option shall not constitnte a waiver of the right
to exercise the same at any other time. ~
Time ia of the essence of this Note. In the event any installment is not paid when due or within ten
days thereafter~ the holder may collect, and the undersigned agrees to pay a late charge on such inatallment in
an amount ~qual to 5~ of such instaliment or $5, whichever is less, and in the event thia Note is collected by 1
law or tbrdA~gh an attorney at law or under advice thereof, the undersigned agtees to pay all costs of collection~
ineluding rlasonable attorney's fees and court casts to the extent permitted by Florida law. '
~The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
assign to.:the Holder a suftScient amount of such homestead or exemption as may be altowed~ including such
homeatea~l or exemption as may be set apart in bankruptcy, to pay this note in full, with all coste~of c~ollection,
and do=hereby direct any trustee in bankruptcy having possession of such homestead or exemptioA to deliver to
the Holder a suHScient amount of property or irtoney set apart as exempt to pay the indebtedness evidenced r
hereby. or any renewal thereof. and do hereby, jointly and severally, appoint the Holder the attoi4itey in fact for `
each of them, to claim any and all homesteaci exemptions allowed by ~law. ~ .
; A first mortgage for the ~~~~~e ~~oresaid indebtedness is retained by OUTDOOR~ESORT3 OF
ADdE~CA. INC.. on Lot No.~~Lin that certain Condominium known as OUT'DOOR RESOBTS AT NETTLES
I D, and on any improvements, fixtures or after acquired propertq sdded thereon, as shown by plat re~-
co in the Office vf the Circuit Court in and for St. Lucie County. F7orida, in Piat Book 16, page 1:1A
through 1J. . p
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