HomeMy WebLinkAbout2924 ~~4~ MORTGAGE ~
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; he mort~,•.~goi•, in consideration of the principal sum specitied in the prom~ssory note hereaf er. described~ re-
~•~~i~•ed fmm OUTDOOR RESORTS OF A111ERICA, INC., a corpc~y~tion organ' ed and .e.cisting under the Laws
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~~f the State of Tennessee, the Mortgagor, hereby on this.-a~j day of ~ - , 19
m~~rtga~,•es to the l~iortgagee the real roperty in St. Lucie County, Flurida, descri a3:
Lot No.-~ ii~ that certain condominium known as OUTDOOR
RESORTS OF AMERICA AT ~iETTLES ISLAND, as shown by 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.
THIS IS A PURCHASE iltONEY i10RTGAGE
a. securit~• for the payment of the pi^omissory note of which the following is a copy:
Installment Note and Disclosure Statement
~ ~ 1 v ~ ~,,air aF T,u~s
~ 9359.40 ~ ~ ~ ~ ~Rrc~ St, Lucie County , Florida
~t~S1y1NT TO G111rTER 71•131. 11CiS OF 1971. A' cy~
;,~~i,~i o:~b~nal not~ 1106ER POITi1~S ~i 19~
•nd crncelled i~F1lI CIAf:Ul1 OOIIRT. ~i. LJlCIE 00. RA~
For Value Received. I, we or either of us prom ise to pay to the order of OUTDOOR RESORTS OF
a~tERICA, INC.. P. O. Box 1116. Jensen Beach. Flor ida, 33457, or any other place as the hol er h~ereof may
cie~ignate in writing, the sum of Nine Thaasat~d Three Hundrecl Fifty Nine~ ) Dollars,
thi~ sum Ueing the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
CHARGE on the amount financed, payable in 60 equal consecut've monthly installments of
~___~~5 _99 each. and the first. installment to become payable on the day of OV~'B~
; ,
! 19_ L~'and one such installment to become due and payable on the-~day of each succeeding month
C utitil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ ?~t~fore the fina} installment date, the unearnc~9 portion of the FINANCE CHARGE shall be rebated under
the Rule of ?8'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,~~ thi, Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
T~(E PRIOR ~~'RITTEN GONSEI~`T OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1~ 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,IIST ON THE REAL PROPERTY PURCHEISED BY THE UNDERSIGNED AND FINANCED THROUGH
Tf~E CREDIT EVIDENCED BY THIS I`'OTE 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
c3ue 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 esercise said option shall not constitute a waiver of the right
±o exercise the same at any other time.
Time is of the essence of this Note. In the event any~ instaltment is not paid when due or within ten
~iays 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, 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 collection,
~ including reasonable attorney's fees and court costs to the extent permitted by Florida law.
~ The undersigned and all endorsers or other partie~ to this note jointly and severally transfer, convey and
~ assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in t~ankruptcy, 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
herebp, or any renewal thereof, and do hereby, jointly and se~~erally~. appoint the Holder the attorney in fact for
~ each of them, to claim any and all homestead exemptions allo~~~ed by law.
~ A first mortgage for the s urity of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
A:4tERICA, INC., on Lot No. in that certain Condominium known ae OUTDOOR RESORTS AT NETTLES
ISI.AND, and on any improvements, fixtures or after acquired property added thereon, as shown by piat re-
corded in the OfFce of the Circuit Court in and for St. Lucie County, Florida. in Plat Book 16, page 1:1A
~ through 1J. BOCI( ~O / Pr,~f ~,7~
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