HomeMy WebLinkAbout2919 _ . _ .M_~.-. - -
~ 2~Qs~.yo This Instrument Prepared By ~
F.ev ~ Lynn Rawiey
. t~t,Q ~t T G A=~S E Q~d~ R~~ris of America, lqa
Kenneth A. & fielen M. Arnold, 130 Birchwood Dr., 1~laitlaud~ Florida ~
the mortgagor~ in consideration of the principal sum specified in the promissory note herenfter described~ re-
ceived from OUTDOOR RESORTS OF AMERICA. INC.. a corporation organized and existing under the Lawa
of the State of Tennessee, the Mortgagor, hereby on this l~day of ~rC~i , 19_~.
mortgages to the Mortgagee the real property in St. Lucie County. Florida, described as:
Lot No 1~~'~~n that certain condominium knoam as 4UTD008
RESOBTS OF AMERICA AT NETTLES ISLAND, as show~? by plat
recorded in the Ot~'ice of the Cireuit Court in and for St. Lucie Countq.
F7orida, in Plat Book 16. page 1:1A through ld.
THIS IS A PURCHASE MONEY MORTGAGE
As security for the payment of the promissory note of which the following ia a copy:
Instaliment Note.and Disclosure Statement
g?955• 52 St. Lucie County , Florids
Uc,cumentarY ~ .
't~~o o~~g~~~ March 13 ~s 72
~ ~ ~ ~
For Value Beceived~ I, we or either of us promise to pay to the order of OUTDOOIt RESORTS OF
AMERICA. INC.. P. O. Box 1116. densen Beach. Flor ida. 33457. or any other place as the holder hereof may
designate in writing, the sum of S u ne hundred f if iv~.~95,''i .,~"i2 ) Dollam,
this sum being the Total_of Payments refer e isclosure Statement below, which includea a FINANCE
CHARGE on the amount financed.~ payable in 96 equal consecutive monthly installments of
; g 82 each, and the first installment to become -payable on the lstday of ~y .
~ 19~. and one such installment to become due and payable on the 1St day of each succeeding month
~ until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by casi?
before the final installment date, the unearned portion of the FINANCE CHABGE ahall be rebated under
the Rule of 78's.
In the event of default in the due and punctual payment of atiy 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 PftIOft WRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCU~dBEft (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY F08 THIS NOTE) OR OTHERWISE DISPOSE OF OIt EN-
CUMBER OR COMMIT ANY AREACH OF THE MORTGAGE OR PERMIT 08 SUFFEB ANY LIEN TO
EXIST ON THE REAL PROPEftTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howaoever
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 t::~ ?:older hereof without demand. presentment
or notice of any kind. Any faijure 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 Note. In the event any installment is not paid when due or within ten
days thereafter. the holder may coAect, and the undersigned agrees to pay a late charge ~n such inataUment in . ~
an amount equal to 5~~ of such installment or $5. whichever is less, and in the event thia Note is collected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law.
~ The undersigned and all endoraers or other parties to this note jointly and severally transf~t, convey and `
assign to the Holder a suflUieient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in bar?kruptcy, to pay this note in- full, with all coats of collection.
and do hereby direct aqy truatee in bankruptcy having possession of such. homestead or exemptioa:to delive~ to
the Holder a sufficient amount of property or money set apart as exempt to pay the indebted~ss 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 any and all homestead exemptions allowed by law. ' ' •
A first mortgage for the ~tY f~, oresaid indebtedness is retained by OilTDOOIt KESOBT3 OF
AMEBICA, INC., on Lot Na1,3~~;'~i~ ~h ert~,a~ Condominium known as OUTDOOB ~tESOBT3 AT NETTI.ES
ISLAND, and on any improvements, fixtures or after acquired pmperty added tLereon. as ahown by plat re-
corded in the OH'ice of the Circuit Court in and for St. Lucie County~ Florida, in Pfat Book 16. pa8e 1:1A
thmugh 1J. BOOM FAG~ ,~,9~,V .
_
- - - - - - ~