HomeMy WebLinkAbout2626 ' ~ 251'785
~ ~ ~ ~ MORTLAGE
is ~ - ~ `
~v .
:ce mort~ag in consider~tion of the princ~pat sum saec1~ tha pr~miasory note hereafter described~ re-
:~ired irom OtiTD00R RESORTS OF A~'IERICA. I:~'C.. a corE,o on organi arrd existing under the ws
the State of Tennessee, the Mortgagor. hereby on this_~~y of ~~~~C~~ , 19 .
n:ortgabes to the ~Ioi•Lba~ee the real property in St. Lucie Couniy. Florida~ described as:
I.oi \o.Lb 7 in that certain condominium kno~vn as OUTDOOR
RESORTS O AMERICA AT 1~ETTLES 1SLAND. as shown by plat
recoi•ded in the Ofhce of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16. page 1:1A throubh 1J.
THIS IS A PURCHASE \iO1~EY ~IORTGAGE
:ia sEtiulity I01 tha payment of the piromissoiy note of which the following is a copy:
Instollment Note and .Disclosure Stotement
j ?955 _ 52 R~EIVED ~ ~s~ I/ IN P~YNENT OF TI1X6 • ~ + Florida
DlE ON C111SS 'C INTANGIBIE ~?'0.'ERIY~ D 19~
p!lRSUANT TO CFIAFTER 71-13Q. ACTS OF lyit. y'
Q06ER POITRAS ~ /
For Value Received, I, H•re~or eG~r~Us~ p~or~i pay to the order of OUTDOOR RESORTS OF
:~~:Ei,IC~. I\C.. P. O. Box 111G. Jensen Beach, Florida. 3345?. or any other place as the h d hereof may
& 5a~~~5
.:~~:~;n:~te in ~rritinb. the sum ofseven Thousand Nine Hundred Fifty Five ~7955,52 Dollars,
sum being ~the Total of Payments referred to in the Disclosure Statement below~ which includes a FINANCE
C:iARGE on the amount :~nanced. payable in 96 equal consecu ' e monthly installments of
~ h r t installment to become - a able on th ~ da of .
82 ,^87 each. and t e fi s p y Y
' and one such installment to become due and payable on the-~-day of each succeeding month
i :.,::il the ~tihole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
E :,~~:ore the final installment date, the unearned portion of the FI~A\'CE CHAr.GE shall be rebated under
;:~e Rule of ?8's.
I» the event of default. in the due and punctual payment of any installment on this ~'ote for a period of
:i:;rt3• (30) days, or if any statement. representation or warranty in any application for the credit_evidenced
this I`ote is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
TFiE PRIOR «'RI':'TE\ CO~SEITT OF THE HOLDER HEREOF, SHALL SELL. Eiv'CUMBEB (EXCEPT
:'Ok A\I' 1tORTGAGE WHICH 1S SECURITY F08 THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
; ~"IiBER OR CO:~IJ'fIT ~~Y RREACH OF TiiE 1+SORTrAGE OR PERMIT OR SUFFER ANY LIEti TO
:::~:~T 7\ TIiE REAI. PF:OPI:RTY PURCIIASEL ~iY T~iF, ti\DF.RSIGti'F.D AIvD FI\'AtiCED THROLGH
:'i-:i:i~iT E~'IIiL\C~U L'T TIIIS \OTE or in the event of t:~e :ncompetency, insolvency (howsoever
~~-i.:e:~ced) or i~an~ruptc3• of anyone or more of the undersigned, then the entire remaining indebtedness then
,:::e shall become imr.-~ediat~ly due and payable at the optioti of the holder hereof without demand, presentment
o: not:ce of any kind. Any failure of r.older to exercise said option shall not constitute a waiver of the right
to exercise the. same at any other time.
Tir:ze is of the essence of this Note. In the e~ent any installment is nut paid when due or within ten
;i:~ys thereafter~ tha hoider may collect, and the undersi~,?ned abrees to pay a late charge on such installment in
a: an:ouat equal to 5`i~ of such insta:iment or $5, uhic~ever is less, and in the event this Note is collected by
- :a«• or throu~;h an attorney at law or under advice thereof, the undersigne~ agrees to pay all coats of collecfion,
::,cluding reasunable attorney's fees and court costs to the eatent permitted by Florida law.
~
The undersibrned and all endorsers or other parties to this note jointly and severally transfer, convey and
::~~irn to the ~'.oldei• a sufT'icient amount of such homestead or exemption as may be allowed, including such '
: on:estead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of collection,
:.:;,i .io herei:y direct any trustee in bankruptcy having X,ossession of such homestead or exemption to deliver to
~~;oider sutlicient amount of property or money set apart as exempt to pay the indebtedpess evidenced
::~:ebl~. or :.ny renc~cal thereof, and do hereby, jointly and severally. appoint the Holder the attorney in fact.for ;
~ac~ oi ;.hem, to claim any and all homesteacl exemptions ailowed by law.
~1 :irst mori~;ab•e for the se ity of the aforesaid indebtocin~ass is retained by OUTDOOR RESORTS OF
.;~:E:;ICA, I~C., on I.ot ~'o in that certain Condominium known as OUTDOOR RFySORTS AT I~ETTLES ,
ll, and on any improve ents, fixtures or after acquired property added thereon. as shown by plat re-
;.,:.i~d '.c; the Os:ice of the Circuit C:ourt in and for St. Lucie County, Ftorida, in Plat Book 16, page 1:1A
: ;ro;:~h ld. Bp~2i~ PAGf~G,V~
ry *:bT~ ' ~c^% ' ' _ . ~~'~i
p
_
_ ,