HomeMy WebLinkAbout0811 ~ 23'7846 MO RTGAG E
^ ~ Robert R. Sells & Sharon June Sells, H/W, P. 0. Box 13, Roselle, Illinois 60172
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thE~ mortgaKor, in consideration of the principal sum specified in the promissory note hereafter described~ r~-
~~ri~•ed from OLTDOOR RESORTS OF AMERIGA, INC., a corporation organized and existing under the Laws
~~f the State of Tennessee, the Mortgagor. hereby on th~~_ 28t!' -aa~ of February 1~ 72 ,
m~rtgafie~ to the :~~ortga~ee the real property in St. Lucie County, Florida, described as:
Lot No. 21
~ -_in that certain condominium knoHn as OUTDOOR
' RESORTS OF A11iERICA AT NF.TTI.ES ISLAND. as shown Uy plat *
recorded in the Office of the Circuit Court in and for St. Lucie County, ~
Florida, in Plat Book 16~ page 1:1A through 1J.
1 THIS IS A PURCHASE b~ONEY 11iORTGAGE : ~
as securit3~ for the pa~ment of the promissory note of which the foilowing is a copy:
, .
Instalime t at N~~losure St~tement
,z~
S__~Q.~D- - p~ Otl CIASS'C' INTANG{BLE PE~~ 1fP~~n~ Florida
p~R~t Tp CHJIPTER 71-13~. February 28 1972
ibGER POIiRAS
~~R~t RT, ST. lUC1E 00. ~
For Value Received, ~e or either of us promise to pay to the order of OUTDOOft RESORTS OF
.-~~IERI('A, I:~C., P. O. Box lll~i, Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
clt~~i~nate in ~sritinfi, the sum of Six Thousand Two_1~,111511"4~ Fortv ~11d 00/10~_ ( 6240_~0 ) Dollars~
thi. ~um Ueing the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
c~~tARGE on the amount financed, payable in _~i0 equal consecutive monthly installments of
~_~Q4~QQ_ each, and the first installment to become payable on thp 1 st day of
.~une , ;
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' 1 ~ 72__, and one such installment to become due and payable on the_ 1~t day of each succeeding month
~ u:~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ I~efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under e
~ the Rule of 78's.
In the e~ent 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
t~~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR «'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (EXCEPT
FOR ANY MORTGAGE WHICH 13 SECURITY F08 THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
('UMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFEB ANY LIEN TO
EtiIST ON THE REAL PROPERTY PUBCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ THE CREDIT EVIDENCED BY THIS I`OTE or in the event of the incompetency~ insolvency (howsoever E
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
c~r 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 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 undersi~ned agree~ to pay a late charge on such instaliment in
~ an amount equal to 5`,'~ of such instaliment or $5, whiche~•er is less, and in the event this Note is collected by ;
~ law~ or throuRh an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
~ includinR 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, conve~• and
~ assign to the Holder a suflicient 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 full, with all costs of collection.
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereb~~, or an~• rPnewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
each of them, to claim ar;~ and all homestead exemptions alio~•ed by la~~.
A first mort~age for the security of the aforesaid indebteciness is retained by OUTDOOR BESORTS OF '
~:~iERICA, INC., wn Lc~t No.~LL_in that certain Condominium known aa OUTDOOR RE-SQLtT_S AT NETTLES
ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
~ corded in the Office of the C.ircu~it, Court in and for St. Lucie County, ~FlRrida in Plat Book 16, page 1:1A
throt~~h IJ. @OOK~~~ PAf,E ~~O
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