HomeMy WebLinkAbout0801 ( ~r
~ , ~ MO RTGAG E ,
- . 23'7838 , ~
~?`ilton F. `nlooc3 ~ Lv~retta~ hi. Wood, P.C .~ox 246, nockvil_?.e, ~'or~n. OE0~6
the moi•tgagor, in consideration of the principal sum specified in the promissory note her~fter described. re-
~•r•i~•ed from OU'TDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the Laws
~~f the State of Tennessee, the Mortgagor~ hereby on this 24 -day of SeptelCbeT _ 19~.
moi•tg~ges to the riortgagee the real property in St. Lucie County. Florida, described as: ,
Lot No. 1~-in that certain condominium known as OUTDOOR
RESORTS OF ADiERICA AT NETTLES ISLAND. as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie Cuunty,
Florida, in Plat Book 16~ page 1:1A through 1J.
THIS IS A PURCHASE DiONEY biORTGAGE
securit~• for the pa~ment of the promissory note of which the follo~ving is a copy:
Instaliment Note and Disclosure Statement
6435.00 St. Luc~e County , Florida
~ ~
September 2~+ 19 71
For ~'alue Recei~•ed. I, ~~•e or either of us promise to pay to the order of OUTDOOR ftESORTS OF
~ti1F.RICA, INC., P. O. Bos 1116, Jensen Beach, Flor ida. 33457, or any other place as the holder hereof may
~lt~~ignate in ~vriting, the sum ofsi~_housand four__hundred thirty~Y~_ ( ) Doilars,
thi, sum Uein~; the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
('1(ARGE on the amount financed, payable in 60 equal consecutive monthly installments of
~ each, and the first. installment to become payable on the lst_day of
~ovem.ber
. 1~. 2~---- '
1 ~ Zl , and one such installment to becume due and payable on the- 1 s t day of each succeeding month
u,~til the whole of said indehtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ t,t~fore the fina} installment date. the unearned portion of the FINANCE CHAAGE shall be rebated under
f
! the Rule of 78's.
~
In the event of default in the due and punctual payment of any instailment on this Note for a period of t
I ,
thirty (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, WITHOUT
T~iE PRIOR ~VRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT
F'OR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
('UMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO '
F,tIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
TFiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
ciue 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 the esset~ce of this Note. In the e~~ent 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 installment in
~ an amount equal to 5~: of such installment or $5, whichever is less, and in the event this Note is collected by
~ la~+• 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 endorsers or other parties to this note jointly and severally transfer. convey and ;
~ assign to the Holder a suflicient amount of such homestead or exemption as may be aliowed, including such ~
~ homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with ali costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption- to deliver to
~ the Holder a suf~'icient amount of property or money set apart as exempt to pay the indebtedness evidenced ~
hereby, or any renewal thereof, and do hereby, jointly and se~reraliy, appoint the Holder the attorney-in fa~fer
each of them. to claim any and all homestead exemptions alloH•ed by law.
~ A first mortgage for the security of the aforesaid indet~tedness is retained by OUTDOOR RESORTS OF
~:11ERICA, INC., on Lot No~2 1 in that certain Condominium known aa OUTDOOR RESORTS AT NET1'LES
ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re- :
4
corded in the Oflice of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
~ through 1J. ~ R 2os PACE ~oo
. BG~K
~ ' ~ - ~ - ~ ~ ~
~ ~~s~~Y's°*~d~~°4a . . ~~S _