HomeMy WebLinkAbout2644 ~ ~ ~ ~ ; ; ..z . : 251'79'7
SQ . - MORTGAGE
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the mort~?~iKor. in consideration of the principal sum specified in the promissory note hereafter described~ re-
~•~~i~•eci frnm OUTDOOR RESORTS OF A;4IERICA. INC.~ a corporation organized and existing .under the Laws
~~f the State of Tennessee~ the Mortgagor, hereby on this-~.--day of ~LC~~~~ , 191'Z,
m~~rtg:i~?e~ to the Mortgab~ee the.r ~,property in St. Lucie County, Florida~ described as:
Lot No.~Q
d~in that certain condominium known as OUTDOOR,
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
recorded in the OflSce 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 MORTCAGE
a. securit~ for the payment of the promissory note of which the following is a copy : ~
Instaliment Note and Disciosure Statement
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F~~r Value Received, I. w•e or either of us pi~m ise to pay to the order of OUTDOOR RESORTS OF
:1~I~:RI('A. INC.. P. O. Box 1116, Jensen Beach. Flor ida, 33457, or any other ~lace as the holder hereof may
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~i~~.i~nate in writing, the sum of ~ ''"'n ,~t'°'n'_Ln?.n'"--=1_,n -r~. - ~ :~v : (7, n" ~ =•2 ) Dollars~
tf~i, .um being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
~~}IARGE on the amount financed, payable in equal consecutive monthly installments of
~r
. g 7 each. and the first installment to become payable on thp l-day of~~~ .
1~ 7.3__, and one such installment to become due and payaUle on the-~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
~ ~~c•fore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebated under
E the Rule of ?8's.
~ In the e~~ent of default in the due and punctual payment of any installment on this Note for a period of
t}~irty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
i~~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
Tf~E PRIOR VVRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT
~'nR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
c'UMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO
F.IIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
TiIE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever
e~•idenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness then ~
due shall become immediately due and payable a1. the option of the holder hereof without demand, presentment ,
oi• notice of any kind. Any failure of holder to e~ercise 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
elays thereafter~ the holder may collect~ and the undersi~ned agrees to pay a late charge on such installment in
<in amount equal to 5 ~ of such installment or $5. whichever is less, and in the event this Note is collected by
iaa?• or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of coliection~
includinK reasonable attorney's fees and court costs to the extent permitted by Florida law. . ~
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~ The undersigned and all endorsers or other parties to this note jointly and severally transfer~; co~ivey and
a,si~,rn to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
h~~mestead or exemption as may be set apart in l~ankruptcy. to pay this note in full, with all costs~of collection. '
and do herel~y direct any trustee in bankruptcy having posse..ion 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 indebtedn~ss evidenced
herei~~~, or any renewal thereof, and do hereby, jointly and se~•er:illy, ap~int the ~iolder the attornqy in fact for
' each of them. to claim at and all homestead exemptionti alloH•ed i»• lav?•. , ~
A first mortgage for the security of the aforesaid indet,tedne,s i:s retaincd by OUTDOOR RESOATS OF
A1iE:ltt('A, INC., on I.ot No~~in that certain Condominium known aa OUTUOOR RESORTS AT NETTLES
Iti1,A`I), and on any improvements. fixturea or after acquired property added ther~on, aa ~chown by plat re-
c~rrded in the Oft'ice of the Circuit ('ourt in and for St. l.ucie ('nunty, Florida, in Plat Book 16, paKe 1:1A
throuy;h 1J. 600K2~z ~~~2645
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