HomeMy WebLinkAbout0828 zSU482 MORTGAGE .
1~ (his wife)
Loren L. Thompson & Rose F. Thompson 1 Nicholas Dr A~bany, N.Y_ ,
the mortgagor. in consideration of the principal sum specified in the promissory note hereafter described. re- .
cei~ ed from OUTDOOR RESO~t15 OF ADIERICA. INC., a corporation organized and existing under the Lawa
of the State of Tennes.~ee. the Mortgagor, hereby on thia 24th day of- October ~ ig7-2
mortgages to the Mortgagee the real property in St. Lucie County, Florida, described as : ~1~''"$•
Lot No 36~-II in that certain condominium known as OUTDOOR - Q~-l~~
RFSOItTS OF AMEftICA AT N~"fTLES ISLAND, as shown by plat ~~~d
recorded in the Otfice of the Circuit Court in and for St. Lucie County. ~
Florida, in Plat Book 16. page 1:1A through 1J. U -
~ ~ ~~~~j
THIS IS A PUBCHASE MONEY MORTGAGE ~O~g.Q~~~,t ~,U
As security for the payment of the prnmissory note of which the following is a copyQ~ 1~~1 r/~'.~~~
Jv
Installment Note and Disclosure Stotemen~ ,I~
~
g 9+ 359.40 St. Lucie Co., ~~orida
October 24, 19 ~2
For Value Received, I, we or either of us promise to pay to the order of OUTDOOft RESORTS OF
~~1ERICA. INC., P. O. Box 1116, Jensen Beach, Flor ida; 3345?, or any other place ~~~~Ider hereof may
de~;snate in v~~riting, the sum ofNine thousand three hundred fifty nine ~q, ~54,40) 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 ~h, and the first instaUment to beoome payable on the lst _day of December ,
' 19 7 2, and one such installment to become due and payable on the 1 St 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 CHARGE shall be rebate~ under
~ the Rule of 78's.
In the event of default in the due and punctual payment of any instaUment on this Note for a period of
thirty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
b~ this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT
THE PBIOft WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOK ANY MOBTGAGE WHICH 15 SECITBITY FOIt THIS NOTE) OR OTHERWISE DISPOSE OF OB EN-
CL'MBEB OR COMMIT ANY BREACH OF TI~iE MORTGAGE Oft PE~tMIT Oft SUFFEK ANY LIEN TO
EXIST ON THE ~tEAL PROPERTY PUKCHASED BY THE UNDERSIGNED AND FINANCED THBOUGH
THE CBEDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
~videnced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shall beoome imme~iately 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.
Time is of the e.9sence 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 instaHment in
~ an amount equal to 5~J of such instailment or $5, whichever is less. and in the event this Note i~ col~ected by
~ law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of dollection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law. ,
~ The underaigrned and all- endorsers or other parties to this note jointly and severally transfer. convey and
a.s.gig~n to the Holder a sufficient amount of such homestead or exemption as may be allowed, inciuding such ~
homestead or exemption as may be set apart in bankruptcy. to pay this note in full, with all costa. of collection,
and do hereby dire~t any trustee in bankruptcy having poss~ssion of such homestead or exemptioq ~to deliver to
the Holder a suft'icient amount of property or money set apart as exempt to pay the indebtedri~s evidenced
hereby, 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 6rst mortgage for the aecurity of the aforesaid indebtedness is retained by Oi1'fD00R RESORTS OF
AMERICA. INC., on Lot 11To.~in that certain Condominium known ws OLT'fDOO~t RESORTS AT NE"TTLES
ISLAND, and on any improvements, fiatures or after acquired property added thereon, as shown by plat re-
corded in the Of~ice of the Circuit Court in and for St. Lucie County, Florida, in P1at Book 16, page 1:1A
fi ~
through 1J. S~~CK ~ %er -
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