HomeMy WebLinkAbout5930 , MORTGAGE ~ 24Ss
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t},e moi•t~?agor. in consideratiou of the principal ~um spec~hed in the promissor~~ note hereafter described, re-
~•~~i~~ed from OUTDOOR RESORTS OF AMERICA, INC., t' corporutien organized and existing under the Laws
~~f the State of Tennecsee. the Diortgagor, hereby on th:.____~`f -d~y of D~--._ . 19~+2'.
mc~rtgage. to the Dlortgagee the real property in Ct. Lucie Cowit~, Florida. described as:
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Lot I~!o.~~~^__in that certain condo~ninium known as OIJTDOOR
RESORTS OF AMERICA AT NETfLES ISLAND. as shown Uy plat
recorded in the Of~'ice of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16. page 1:1A through 1J.
THIS IS A PURCHASE ~IONEY DiORTGAGE
security for the payment of the pt-omissoiy note of ~vhich the following is a copy:
Instollment Note and Disclosure Statement
11, 933.76 St. Luci~ C~. ,~orida
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pocumentah
eftix~d o+;~:~na1 note ~_LtZ~ ~ / _ 19~~
s?nC ~~~Ge:tad
For Value Received, I, ~e or either of us promise to pay to the order of OUTDOOR RESORTS OF
:~\iERI('A, INC., P. O. Box 1116. Jensen Beach, Florida, 33457. or any other place as ttt~~lipl~~hereof may
El~v~r_ th~~_:~~~n,~ T,in:s n~~::,:r~.;. t',; rt,, f~_ i Z, ~;=~}~bllars,
de~i~nate in ~vriting, the sum of ~
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
' CF~ARGE on the amount financed, payable in equal consecutive monthly installments of
! m ~t
I : . ~ 1 _.L-day of- ~ ~ ~
; c ~ -each, and the first. installment to become payaUle on the ~
' - 1~ ~ and one such installment to become due and payable on the_~day of each succeeding month
; ~~Fi~il the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ l~a~'ore the fina! instaliment date, the unearned portion of the FI1\'ANCE CHARGE shall be reUated under
~ ~th~ Rule of 78's.
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~ ~ In the event of default in the due and punctual payment of any installment on this Note for a period of
~ th~•ty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
r 1~ ~this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
~ TRE PRIOft NRI7"TEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
~ ~ OR ANY MORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~ CUMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
F.XIST ON THE REAL PROPERTY PURCHASED BY THE UNDEftSIGI~TED 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
: due shall become immediately due and payable at the option of the holder hereof without demand, presentment
~ ~~r notice of any kind. Any failure of holder to esercise 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 \ote. In the event any installment is not paid when due or within ten
- days thereafter, the holder may collect, and the undersiKned agrees to pay a late charge on such instaliment in
an amount equal to 5`,~~~ of such installment or $5, whiche~er is less, and in the event this Note is collected by
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_ law or through an attorney at lav? or under advice thereof, the undersi~ned 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 se~erally transfer, convey and
assign to the Nolder a sufficient amount of such homestead or exemption as may be allowed, including such
>;s homestead or exemption as may be set apart in bankruptcy, ta 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 suflicient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof, and do hereby, jointi3 and se~~erally, appoint the Holder the attorney in fact for
each of them, to claim any and all homestead exemption~ alloH-ed b~~ law.
~y
A first mortgage for the security of the aforesaid indebteciness is retained by OUTUOOR RESORTS OF
AMERICA, INC., on Lot 1~`o3~~n that ce~tain Condominium known aa OUTDOOR RESORTS 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 Circuit Court in and for St. Lucie ('ounty, Florida, in Plat Book 16, page 1:1A
through 1J. ~ K 20~ n
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