HomeMy WebLinkAbout2662 . ~5~809
~ia~ ~Eb~E J, w,,~E.~n~~~MORTGAGE ~ : _
,r ~a4`~ r?-,s~ss A~
~'1A,.c. ~C`~8.t,r•~~D~CF~H~i wr~~~ _r~oKC~~t ~.c. ~ASS. _ , i
the mortgagoi•.
~~c
sideration of the principal sum specified in the pror~~issory note hereafter described. re- ;
rei~•ed from OUTDOOR RESORTS OF AMERICA, INC.~ a corporation organized and existing under the Laws ~
uf the State of Tennessee, the Mortgagor~ hereby on this_~ day of ~Af/~M~E~- , 19~, ~
mortgages to the Mortgagee the real property in St. Lucie Countq. Florida. described as:
- Lot No.1~ s3 ~ in that certain condominium known as OUTDOOR
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16. page 1:1A through 1J.
TNIS IS A PURCHASE MONEY MORTGAGE
As securit~~ for the payment of the promissory note of which the following is a copy :
Instaliment Note and Disclosure Statement
~ 10 , 5 2 9. 4 0 ~p IN PA1f1AENT OF TAXa S Lu c i e Co . _ Florida
DUE ON CIASS'C INTANGIBLE ?E~cSO:~'~L PROPERtY. .
pUR~MNt TO CHAPIER 71•134. ACTS OF 19/i.~ -~/~v,~~~~ ~ 19L
pOGER POITRAS ~
ItI. ST. IUGtE 0~., Fl/l
For Value Received. I, we 6~i~~~us prom~se to pay to the order of OUTDOOR AESORTS OF -
~~iERICA, INC.. P. O: Box 1116~ Jensen Beach. Flor ida, 33457, or any other place~~b~older hereof may
de~ignate in writing, the sum ofTen thousand five hundred twenty nine ~:0, 529.40~ 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 60 equal consecutive monthly installments of
S 175 .49 Qach. and the first installment to become payable on the ~ S T day of
,PN'• .
~ 19 and one such installment to become due and payable 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
t~efore the final installment date, the unearned portion of the FINANCE CHAAGE shall be rebated under ~
zhe Rule of 78'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
b~• this iJote is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR WRITTEN CONSENT OF THE HOLDEft HEREOF, SHALL SELL~ ENCUMBER (EXCEPT ~
FOR ANY MORTGAGE WHICH 1S SECURITY FUR THIS NOTE) OR OTHERWISE DISPOSE OF OA EN-
CUMBER OR COMMIT ANY BftEACH OF THE MORTGAGE OR PEftMIT Oft SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THftOUGH
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 i
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 undersigned agrees to pay a late charge on such inatallment 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 thmugh 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 suflicient 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 poss~ssion of such homestead or exemption to deliver to
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness 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 any and all homestead exemptions allow•ed by law.
- A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR ~ESOftTS OF
AMERICA, INC., on Lot NqlG~~in that certain Condominium known as OUTDOOR RESORTS AT NF.°I'TLES
(SI,AND. and on any improvements. fixture.g or after acquired property added tbereon. as shown by plat re-
corded in the Office of the Circuit ('ourt in and for St. Lucie County. Florida~ in Plwt Book 16, page 1:1A
throuKh ld.
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