HomeMy WebLinkAbout2623 251'7'83 'y ~N o~ ~
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i~'°- . M 0 R T G A G E MlRSWMT TO t~IAP.~R ~1-1i4. ~ ~y,?.~~
fCO~.ER POIfRIIS • ~
1'_-'ri~'~' i; , i t; _,,,Y & I~±~Y"'.c~ T1. ]J?_ttT~..,r ~ t•'? ~F' .
the mort~a~,~or. in consideration of the principal sum specified in the promissory no e erea er escri ~
rei~~eci Cr~m OUTDOOR RF.SORTS OF AMERICA. INC.. a corporation organized and existing under the Laws
~~f the St~te of Tennessee, the Mortgagor, hereby on this 1`~ ~__day of J^ nt'"r`~ _ lg 7 3.
murtga~;eti to the ~lortgagee the real property in St. Lucie County, Florida, described as:
Lot No. 4'' ~~I i in that certain condominium kno~vn as OUTDOOR
RESORTS O~ AMERICA AT NETfLES ISLAND, as shown by plat
recorded in the Oflice of the Circuit Court in and for St. Lucie County.
Florida, in Plat Book 16, page 1:1A through 1J.
THIS IS A PURCHASE MONEY bIORTGAGE
a. securit~~ for the payment of the promissory note of which the following is a copy:
Instailment Note and Disclosure Statement
7 C~1~.=:-~ ,t. Luc~~ Cot~n~~.•, ~Florida
~ _
~~unuar- 1 lg7'
Fur Value Recei~•ed, I, vee or either of us prumise to pay to the order of OUTDOOR RESORTS OF
:~~TERI('A, INC.. P. O. Box 1116. Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
clt~~i~nate in ~vriting, the sum of~'~`~°n ~?'°i''`"_r. =,nir~~t:~_~» & ''~?/1`~~ _ ( Dollars.
t},;s sum bein~? the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
('iiARGE on the amount financed. payable in equal consecutive monthly instaliments of
1 1~, . ~ ~ each, and the first installment to become payable on the 1 S ~-day of-'~'~?r ~ r`'
` '
1~ and one such installment to become due and payaUle on the day of each succeeding month
k t~i~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
; t~rfore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
~ the Rule of 78'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
t,~• this Note is found to be untrue in any material respect, or in the event THE iJNDERSIGNED~ WITHOUT
THE PRIOR VVRITTEN CONSENT OF THE HOLDER HER~OF. SHALL SELL, ENCUMBEK (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
('UMBER OR COMMIT ANY KREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
EYIST ON THE ftEAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
TtiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever
eridenced) 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.
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 collected by
la~v or through an attorney at law or under advice thereof, the undersigned agrees to pay all cos~s of ~ollection,
includin~ 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 trans~gr, convey and
assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, ~Mcluding such
homestead or exemption as may be set apart in t~ankruptcy, to pay this note in full, with all cosEs of eollection,
and do hereF~y 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. jointly and sererally, appoint the Holder the attorney in fact for
each of them, to claim a~ and all homestead exemptions allo~•ed b~ laH . x''
A first mortgage for the security of the aforesaid indel~tedness is retaineci by OUTDOOR BESORTS OF
~1MH;RICA, INC., on Lot Na- ~ l~ ~ that certain Condominium known sa OUTDOOR RESOftTS AT NETI'LES
1~[,A1I), and on any improvements. fixtures or after acquired property added thereon~ ax Shown by plat re- ;
~•~~rded in the Office of the Circuit Court in and for St. Lucie ('ounty. Florida, in Plat Book 16, page 1:1A
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