HomeMy WebLinkAbout0648 ' . - , MORT~AGE ~ 2~4~g
Geor~e A. & Bett~r Lou Lon~acre~135_Armstrong St. ~ Dayrona. Beach~ Fla.,
the mort~;aKar, in consideration of the principal sum specified in the promissory note herea~ter described. re~
t~t~i~•eci from Ot,iTDOOR RF.SORTS OF A1~IERICA, INC., a corporation organized and existing under the Laws
~~f the St~te af Tennessee. the Mortgagor, hereby on this__l4 _ da of Ma~r
- Y . 1~--~2.
mcrrtg~tges to the l~iortgagee the real property in St. Lucie Coe~nty. Florida, described as:
Lot No.l?2$~II___in that certain condominium known as OUTDOOR _
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie Coanty,
Fiorida. in Plat Book 16, page 1:1A through 1J.
THIS IS A PURCHASE Di0\EY M012TGAGE
Th:~ ;.,.:..::'~'•'C i i ~n,2rt:d gy
securit~~ for the payment of the promissory note of which the following is a copy; ,
i;~~r::e
t,~. , Y
Instoltment Note and Disclosure Statement ~utd~cr Resorts c; ~merica, lnc,
~ St . Lucie Countv , Florida
edfixed original nota j`~y lp 19 '72
~q pMwl~ai
For Value Received, I. ~ve or either of us promise to pay to the order of OUTDOOR RESORTS OF
~IERICA. INC.. P. O. Box 1116. Jensen Beach, Flor ida. 33457. or any other place as the holder hereof may
de~i~nate in ~riting, the sum of'~ine Tho~zsand Three Hundred Sixt & no/ ~60.00~ ~~lars.
this sum being the Total of Payments referred to in the Disclosure Statement below. h includes a FINANCE
('IiARGE on the amount financed, ~ayable in-___ 60 _ equal consecutive monthl
y installments of
`_I~6.00 _`~Qach, and the first instaliment to become payabie on the lSt day of August '
.
1~1_ ~2. and one such installment to become due and payable on the-1s~~day of each succeeding month i
u,ttil the ~i•hole of said indebtedness (Total of Payments) is paid. In the event of prspayment in full by cash
hefore the final installment date, the unearned portion of the FINANCE CHAAGE shall be rebated under
t he Rule of 78'G.
In the e~ent of default in the due and punctual payment of any installment on this Note for a period of
±hirty (30) days. or if any statement. representation or warranty in any application for the credit evidenced
t;~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOLTT
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL; ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 13 SECURITY FOB THIS \'OTE) OB OTHERWISE DISPOSE OF OR EN-
C'UMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFEft ANY LIEN TO
F,XIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDEIti'CED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
eti~idenced) or bankruptcy of anyone ar more of the undersigned, then the entire remaining indebtedness then
clue shall become immediately due and payable al the option of the holder hereof without demand, presentment
~r notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver of the right
to exereise the same at any other time. r
Time is of Lhe essence of this I1~'ote. In the e~~ent any~ installment is not paid when due or within ten
days thereafter, the holder may collect, and the undersi~ned aRrees to pay a late charge on such installment in
= an amount equal to 5~: of such installment or $5, whiche~•er is less, and in the event this Note is collected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of co]lection.
including reasonable attorney's fees and court costs to the extent permitted by Florida Iaw.
The undersigned and all endorsers or other parties to this note jointly and severally transfer~ convey and
a.ssign to the Holder a suPficient amount of such home~tead or eremption as may be allowed~ including such
homestead or exemption as may be set apart in bankruptc~~, to pay this note in full, with all costs of collection.
and do hereby direct any trustee in bankruptcy having posse~sion of such homestead or exemption to deliver to
the Holder a suflScient amount of property or money set apart as exempt to pay the indebtedness evidenced
herebp, or any renewal thereof~ and do hereby, jointly and sec-eraily, appoint the Nolder the attorney in fact for
each of them. to claim any and atl homestead exemptions ai~o~c•ed by law. ~
A first mortgage for the s~ et~?
'tiori ela~foresaid indebtedness is retained by OtJ'fDOOA RESORTS OF ~
A:1iERICA, INC., on Lot No122a/ in {hat certam Condominium known as OUTDOOR RESOBTS AT NETfLES ~
ISLAND, and on any improvements, fixtures or after acquired property added therean~ as shown by plat re-
corded in the Oflice of the Circuit Court in and for St. Lucie ('ounty Florida~ in PIAt Book 16~ page 1:1A
throuqh 1J. $D~r~~ ~
~.rVV
~~a.~~.~~ T _ , . . - ~ ~
.
~ ` .u