HomeMy WebLinkAbout0820 i 25U4'76 NI O R T G A G E
. .
. ' ~ . ~ ~ Y 1~V 1 - '~'t~ ~G
: , _m~r~ ~ " ,
1 the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described, re-
c~.~i~ed from OUTDOOR RESORTS OF AMERICA, INC.~ a corporation organi~xd and existing under the L~?ws
c~f the State of Tennessee, the Mortgagor, hereby on thi4 °'z 7~day of ~~-T~'l'?~ ~ 19~.
mortgages to the Mortgagee the real property in St. Lucie County, Florida. described as:
Lot No.~~~_in that certain cond~minium k~wwn as OUTDOOft t~ ~
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
recorded in the OfiSce of the Circuit Court in and for St. Lucie County, 'I~ ~
Florida, in Plat Book 16. page 1:1A through 1J. `~~~g1~~\~~~\~ t'A•'
THIS IS A PURCHASE MONEY MORTGAGE ~~¢~~~~,5
r1s security for the payment of the promissory note of wh:ch the follo~ving is a coppa
~d~
~ G~~~ ~
.
Installment Note and Disclosure Statement
~ 9, 359.40 • U.c ~ c~ Co • , Florida
- 19 ~
For Value Received. 1. we or either of us promise to pay to the order of OUTDOOR AESORTS OF
~:~iERICA, INC.. P. O. Box 1116~ Jensen Beach~ Flor ida. 33457. or sny other place &t
~~~~d~e~~hereof may
V
cle~ignate in writing, the sum of nine thousand tlu'ee hundred fifty-nine ~9, . ) Dollars,
this sum being the Total of Payments referred to in the Disclosure Statement below~ which includes a FINANCE
CHARGE on the amount financed, payable in 60------------- equal consecutive monthly instaliments of
g 155.99 each. and the first installment to become payable on the lst day of JanuarY ,
19~_. and one such installment to become due and payable on the lst 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
E t~efore the fina! installment date, the unearned portion of the FINANCE CHAFGE shall be rebated under
the Rule of ?8's.
In the event 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
by this Note is found to be untrue in any material respect. or in the event THE UNDERSIGNED, WITHOUT
THE PRIOft WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MOBTGAGE WHICH 1S SECURITY FOR 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 PUBCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE GREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shall become immediately due and payable at ~he 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 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 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 collPcted by
law or thmugh 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
assigr? to the Holder a suflicient amount of such homestead or exemption as may be ailowed, including such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs~of collection,
a??d do hereby direct any trustee in bankruptcy having possession of such homestead or exemptio~ -to deliver to ~
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedne~s evidenced
hereby,.or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attoriiLq in fact for
- each of them. to claim any and all homestead exemptions allowed by law.
A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
AMERICA, INC., on Lot No~~in that certain Condominium known as OUTD008 ftESORTS AT N~'TTLES
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 County. Florida, in Plat Book 16, page 1:1A
through 1J. ?t,R~ Z~ ~ 'r (`z0
...i -
~ - - - - ~