HomeMy WebLinkAbout2924 ~ - s~f 4 - _ ---w'" ThiS li~~;:.:..,,,,t Prnnared B~I ~ -
2~ M 0 R T G A G~ E ~~ynn R'~~vl~?- ~
_ ~Outdoa Resats o~~~'`w."x'.
Lero~F. & Janice K.Robinson, 3579 ~rbank Ave., Ann ~rbor, Mich.
,
the mortgagror, in consideration of the principal sum specified in the promissors• note hereafter described. ro-
ceived from OUTDOOft RESORTS OF AMERICA. INC., a corporation organize~ and existing under the Laws
of the State of Tennessee. the Mortgagor, hereby on this 21 day of Mareh ~ 19 72.
mortgages'to the Mortgagee the real property in St. Lucie County, Florida, described as:
Lot No 1.
63.
1~IZ in that certain condominium known as OUTDOOR.
RESOBTS OF AMERICA AT NETTLES ISLAND. as shown by plat
recorded in the OflSce of the Cireuit Court in and for St. Lueie County,
Florida. in P~at Book 16. page l:lA thmugh 1J.
THIS IS A PURCHASE MONEY MG~RTGAGE
As security for the payment of the promissory note of which the following is a copy:
tnstaiiment Note and Disciosure StQtement
~ 7955.52 L St. Lucie Coanty ~yQ~;da
Documentary
,n~a «~g~~~ March 21 i9 72
For Value Received, I, we or either of us promise to pay to the order of OUTDOUIt BESORTS OF
AtiiERICA, INC.. -P. O. Box 1116, Jensen Beach, Flor ida, 3345?, or any other place as the holder hereof may
desi~nate in writing, the sum of SeVeII thousBIId II121e ~fifty five ~7955• 52 ~ Dol~ars,
this sum being the Total of Payments referred to in the Disc osure tement below. which includea a FINANCE
C'HARGE on the amount financed, payable irL 96 equal consecutive monthly installments of
$ 82• 87 each, and the first installment to become payable on the 1St asy of ~y
19__j~, and one such installment to become due and payable on the ls t day of each aucceeding month
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the fina~ installment date, the unearned portion of the FINANCE CHARGE shall 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, WITHOIIT
THE PRIOB WBITTEN CONSENT OF THE HOLDER HEKEOF, SHALL SELL, ENCUMBEB (ERCEPT
FOR ANY MORTGAGE WHICH IS SECURITY FOB THIS NOTE) OR OTHERWISE DI3P'OSE OF OR EN-
CUMBER OR COMMIT ANY RREACH OF THE MORTGACE OR PEBMIT OR SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEftSIGNED AND FINANCED THROUGIi
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 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 constitute a waiver of the right
, to exercise the same at any other time.
Time is of th~,~ssence 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 latQ charge on such instaUment in
an amount equal to 5% of such installment or $5, whichever is less, and in the event this Note ia collected by
law or thmugh an attorney at law or under advice thereof, the undersigned agrees to pay all coata of oollection,
including reasonable attorney's fees and court costs to the extent permitted by Florida taw.
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
assign to the Holder a sut~'icient amount of such homestead or exemption as may be allowed~ including such _
homestead or exemption as may be set apart in bankruptcy, to pay this note in fult, with all coat8 of coltection,
and do hereby direct any truatee in ba~lcruptcy having possession of such homestead or exemption. to deliver to
the Holder a sufi'icient amount of property or money set apart as exempt to gay the indebtedr~e evidenced
hereby, or any renewal thereof, and da hereby~ jointly and severally, appoint the Holder the sttorney in fact for
each of them, to ciaim any and alt homp.stesd exemptions allowed by law.
A first mortgage for the sec ~~e ~~oresaid indebtedness is retained by OUTDOOB BESOItT3 OF
AMERICA, INC., on Lot No 1 61 ln that certain Condominium known aa OUTDOOR RF.SORTS AT NETTLES
ISLAND, and on any improvements, fixtures or after acquired property added thereon, sa ahown by plst re~- ~
corded in the OflSce of the Circuit Court in and for S~t. R uci County Fiorida. in Plat Book 16, page 1:1A
through id. 600K~1 PACE~~ ~
- . _ _
_ _ _
~ ~
_ . - - - .rn ~ -