HomeMy WebLinkAbout2635 . : :MORTGAGE 25~'~1
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the mortgR~,02•. in consideration of the principal sum specihed in the promissory note hereafter described~ re- .
rei~•ed froni OUTDOOR RESORTS OF AMERICA. INC., a co ion organized and existing under the Laws
of the State of Tennessee, the Mortgagor~ hereby on this_~~~ay of /L~(Z~/E~l~[7Z~ . 19
mortgages to the Mortgagee the real property in St. Lccie County. Florida, described as:
Lot No. _in that certain condor~inium known as OiJTDOOR
RESORTS O AMERICA AT NETTLES ISLAND, as shown by plat
recorded in the Office of the Circuit Cuurt in and for St. Lucie County .
Florida, in Plat Book 16. page 1:1A through 1J.
THIS IS A PURCHASE AIOrEY MORTGA(~E
security for the paymei~t of the promis.sory note of which the follo~~ ing is a copy :
instollment Note and Disclosure Statement
z 7, 919.40 f- iN p~Er~r o~ Tu~s _St. Lucie county , Fiorida
DuE oN qJtSS ~C ilRAnG~BtE PE:~soti~u vRO~Eitn. November 30 _ 19 72
pURSIIANT TO GiAPTER 71-134. ACTS Of I9)1. _ •
A06ER POITRAS ~
For Value Received. I, ~RlcrCit~H~~.uSJ• ~I~y f?~b ~ pay to the order of OUTDOOR RESORTS OF
~1~ERICa, 1NC., P. O. Box 1116, Jensen Beach. Flor ida. 33457, or any other place as the holder hereof may
c~esignate in writing, the sum of Seven thousand ninet~en & 40,L.100 (7, 019 .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 ~Q_~ equal consecutive monthly installments of
g 116 •99 each, and the first installment to become payable on the 1st day of February ~
t~i3_. and one such installment to become due and payable on the- 1st day of each succeeding month
uiitil the whole of said indebtedness (Total of Payments) is paid.. In the event of prepayment in full by cash
hefore the fina} 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 pay~ment 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 PRIOR ~yRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL~ ENCUMBEB (EXCEPT
FOft ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUhiBEB OR COMMIT ANY RREACH 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, insolveney (howsoever
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shall become immediately due ar~d 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 zindersiKned agrees to pay a late charge on such installment in
an amount equal to 5~4 of such installment or $5, whiche~•er is less, and in the event this Note is collected by
law or through an attorney at law or under advice thereof, the undersiRned agrees to pay all costs of collection,
including reasonable attorney's fees and court costs to the extent permitted Uy Florida law.
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
assign to the Holder a suflicient amount of such homesteaci or exemption as may Ue allowed~ including such
homestead or exemption as may be set apart in bankruptcy. to pay this note in full, with all costs of collection~
and do hereby direct any trustee in bankruptcy having posse~~ion of such hamestead or exemption to deliver to
the Holder a sufficient amount of property or money ~et apart xs exempt to pay the indebtedness evidenced
hereby. or any renewal thereof. and do hereby, jointly and se~•eraily, appoint the Nolder the attorney in fact for
each of them. to claim any and all homestead exemptiuns aUok•ecl t,~ laH.
A first mortgage for the uritv of the aforesaid indebtedness is retained hy OUTDOOR RESORTS OF
A:1~iERICA, INC., on Lot No.~Da ~n that certain Condominium known as OUTDOOR RESORTS AT NETTLES
ISI.AND, and on any improvements, fixtures or after acyuired property added thereon, as shown by plat re-
corded in the Office ~~f the Circuit ('ourt in and for St. I,ucie ('~unty, E~'lorida, in Plat Bouk 16, page 1:1A
throuKh IJ. U R
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