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HomeMy WebLinkAbout2653 i~ MORTGAGE 251803 - ti~ LJ ,T, ~,~r~~E,~ , the mortgagor, in consideration of the principal sum specified in the promissory note hereafter descriUed. re~ cei~•ed from OUTDOOft RESORTS OF AMERICA~ INC.. a corporation organized and existing under the Laws uf the State of Tennessee~ the Mortgagor, hereby on this_~___da~ of~Y~~~~~"~~E~ , 19~. mortgages.ts the Mortgagee the real property in St. Lucie County~ Florida. described as: Lot No. in that certain condominium known as OUTDOOR RESORTS O AMERICA AT NETTLES ISLAND, as shown by plat recorded in the Oft''ice of the Cireuit Court in and for St. Lucie County~ • Ftorida, in Plat Book 16, page 1:1A through 1J. , ~ THIS IS A PURCHASE MONEY MORTGAGE As security~~or the payment of the promissory note of which the following is a copy: Instaliment Note and Disclosure Statement ~ 3 ? - _ L~~c; - ;,<~„n;-' , , Florida w ~ ~ I 1Yf3UEi`~dt-7C~ 19~ For Value Received. I, we or either of us promise to pay to the order of OLTfDOOR RESORTS OF AMERICA, INC.. P. O. Box 1116, Jensen Beach~ Flor ida, 33457~ or any other place as the holder hereof may 7~i ~~Oa, 11, ^3? designate in writing. the sum of ~ ~--rr 'r.~', ?~r~---1 ,rT . ) ~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 equal consecutive monthly installments of i - ~ each, and the first installment to become payable on the ~sr-day of R'n~- , i ~1 ~ 191~_, and one such installment to become due and payable on the~day of each succeeding month ~ iintil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash l~efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under f the Rule of ?8'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 by this Note is found to be untrue in any material respect. or in the event THE UNDERSIGNED~ WITHOLJT THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBEB (EXCEPT FOR ANY MORTGAGE WHICH IS SECURITY FOR THIS NOTE) OR OTHERWISE DISP03E OF OR EN- CUMBEft OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEftSIGNED 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 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. ltime 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 $5, whichever is less, and in the event this Note is collected by ~ law or through an attorney at law or under advice thereof. the undersigned agrees to pay all costs of collection~ including reasonable attorney's fees and court costs to the extent permitted by Florida law. The undersigned and all endoraers or other parties to this note jointly and severally transfer. convey and assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of collection. and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to the Holder a suflicient amount of property or money set apart as exempt to pay the indebtedness evidenced hereby. or any renewal thereof, and do hereby~ jointiy and severally, appoint the Holder the attorney in fact for each of them, to claim a~ and all homestead exemptions altuwed by law. A first mortgage for the urity of the aforesaid indebtedness is retained by OUTDOOR ftESORT$ OF AMERICA. INC.~ on Lot No3~in that cert~?in Condomi~iium krn~wn aa OUTDOOR RESORTS AT NE'CI'LES ISI.AND, and on any improvements. fixtures or aiter acquired property added thereon. aa shown by plst re- cordtd. i+~ the Ot~ice of the Circuit Court in and for St. Lucie C:~ur,ty, Flor~~ ~,~J~t B~a~16 ~ge 1:1A throu~rh 1J. BOLI1 ll v~t~ 5 - - - ~~w~~`,.