HomeMy WebLinkAbout0816 MORTGAGE 25~4'73
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the mortgagor. in consideration of the principal sum specified in th promissor~~ note hereafter descri re~
cei~~ed from OUTDOOR RESORTS OF AMERICA, Ii~TC., a corpurati~n'orgunized and existing under tdie Law ~
c?f the State of Tennessee, the Mortgagor, hereby on this~-~~day of ~~r~'~'~- J' 19 4
mortgages to the Mortgagee the real property in St. Lucie County, Florida, described as: ~
~-~y~ i~~-^ Q~~
Lot No.1~~"'in that certain condominii~m known as OUTDOQft .'V ~
RESORTS OF AMERICA AT NETTLES ISI.AND, t~s 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. i •
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THIS IS A PURCHASE MONEY MORTGAGE ,
security for the payment of the promissory note of which the folloK ing is a copy ~
lnstallment Note and Disciosure Statement
~~35 • a ~T~ ~ ~ UCL~ ~O • _ Florida
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For Value Received, I, Ke or either of us promise to pay to the order of OUTDOOR RESORTS OF
:~IIERICA. INC.. P. O. Box 1116, Jensen Beach. Flor ida. 33457~ or any other place as the holder hereof may
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cle~ignate in writing, the sum o~~'~t`/~?~s.s~?.~O..~i(~?'~~1'~vyae~"~~t~4=. ~t/..vE"(~4~,__~_A Dollars,
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
('~iARGE on the amount financed, payable in ~d equal consecutive monthly installments of
~ ~S~ 4`~ each, and the first instaliment to become payable on the ~ sTday of -S~ ~
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191~~ and one such installment to become due and payable on the day of each succeeding month
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
t~efore the final installment date, the unearned portion of the FINANCE CHABGE shall be rebated under
the Rule of 78's.
In the event of default in ~he due and punctual pa~~ment of any installment on this Note for a period of
thirty (30) days. ar if any statement, representation or uarranty in any application for the credit evidenced
by this Note is found to be untrue in any material respect, or in the event THE UNDEftSIGNED, WITHOUT
THE PRIOR WKITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEH (EXCEPT
FOR ANY MORTGAGE WHICH 13 SECURITY FOB THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
; CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
' THE CREDIT EVIDENCED BY THIS NOTE or in the e~~ent of the incompetency, insolvency (howsoever
't evidenced) 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 ~
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. .
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Time is of the essence of this Note. In the event anS• 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
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 parties to this note jointly and sevecally transfer, convey and ;
assign to the Hoider a suflicient amount of such homestead or exemption as may Ue 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 posse.s~ion of such homestead or exemption to deliver to E
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. jointly and se~erallv, appoint the Holder the attorne~ in fact for
i each of them, to claim any and all homestead exemptions allo~ced by law.
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A first mortgage for the security of the aforesaid indebtedness is retained by OU1'DOOR RESORTS OF
AMERICA. INC.~ on Lot No.~~ that certain Condominium known sg 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 ('ourt in and for St. Lucie County, Florida. in Plat Book 16, page 1:1A j
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