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HomeMy WebLinkAbout2632 / , ~,,~s~uc~ ~'p~~y MORTGAGE . , i 'U ,-i ~Ai ~ A ~9~ aS7"ANI~?~~+~s , ~ !d l. ~ ~ ~ the mortgagor~ in consideration of the principal sum s~ed in the promissory note ereafter descnbed. re- reired from OUTDOOR RESORTS OF AMERICA, INC.. a corporation organized and existing under the Lawa of the State of Tennessee, the Mortgagor, hereby on thi~ day of~~'u~ , 19~~ mortgages to the Mortgagee the real property in St. Lucie County~ Florida~ described as: - ~ ~ Lot No in that certain condominium known as OUTDOOR, - RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat ~ recorded in the Oti'ice 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 MORTGAGE - 2$~~8~ As security ~or the payment of the promissory note of which the following is a copy : - ` Installment Note and DisclosureStatement ~ ~ ~ c~ 1! ' J t . L! i c 1 ~ ~ - - , _ FIOr1dS ` 19~ For Value Received~ I. we or either of us promise to pay to the order of O DOOR RESORTS OF AbiERICA, INC.~ P. 0. Box 1116, 3ensen Beach, Flor ida. 33457~ or any o~e~~~e as the holder hereof may designate in writing, the sum of~'in" '~='°t~G~'~ • ~'-n 'n 'r'''-' ~ --°z'-`.-t~~r~•~~ ~ Q, 9r 3 ~ilars,~ 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 equal consecutive monthly installments of 5 3• each. and the first installment to become payable on the ~~~day of , ~ . and one such installment to become due and payable on th ~L day of each succeeding month ~ 19_~ «ntil 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 CHAAGE ahall be rebated under the Rule of 78's. In the evenf 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 tJNDERSIGNED~ WITHOUT ! THE PRIOR WRITTEN CONSENT OF THE HOLDEft HEREOF, SHALL SELL, ENCUMBER (EXCEPT ~ FOR ANY ~iORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OB OTHERWISE DISPOSE OF Oft EN- ' CUMBEB OR COMMIT ANY BREACH OF THE MORTGAGE OR PEftMIT OR SUFFEB ANY LIEN TO ~ EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH THE CREDIT 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 the option of the holder hereof without demand, presentment or nntice 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 ~ 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 severally transfer~ convey and assign to the Holder a sufficient amount of such homestead or exemption as may be altowed, including 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 direct any truatee in bankruptcy having possession of such homestead or exemption to deliver to the Holder a sufi'icient amount of property or money set apart as exempt to pay the indebtednesa evidenced hereby~ or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for each of them, to claim a~ and all homestead exemptions allowed by law. ' _ ~ ; A first mortgage for he a~r~ty of the aforesaid indebtedness is retainsd by OUTUOOR RESORTS OF t AbiERICA~ INC., on Lot N~~~ that certain Condominium known as OUTDOOR RF.SORTS AT NE'I"I'LES ISI.AND, and on any improvements. fixturea or after acquired property added th~reon, aa shown by plat re- corded in ~he Ot~ice of the Citcuit Court in and for St. Gucie ('ounty. ~1Qri a in P1at Book 16. page 1:1A throu~,~h 1J. 6~~~iz y~~b' ~ F,~'- ~ ~ ~ _ - :