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HomeMy WebLinkAbout2665 _ ; - ~,o~ MORTGAGE 2S1811 ~ Marqaret E. Wattendorf, 129 Massachusetts Avenue, Dorchester, Mass. ~ the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. rc~ cei~~ed from OUTDOOR RESORTS OF AMERICA, INC.. A corporation organized and existing under the Laws of the State of Tennessee, the Mortgagor, hereby on this_13th day of January ~ lg 73 ~ mortgages toYthe Mortgagee the real property in St. Lucie County. Florida~ described as: ~ Lot No. in that certain condominium kno~vn as OUTDOOR - RESORTS O-E~ERICA 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. THIS IS A PURCHASE MONEY MORTGAGE As security for the payment of the promissory note of which the following is a copy: ~ Installment Note ond Disc~osure Statement q 7, 019.40 St . Lucie County ,~orida January 13 lg 73 For Value Received. I~ we or either of us promise to pay to the order of OUTDOOR BESORTS OF A~ERICA, INC.. P. O. Box 1116, Jensen Beach, Flor ida, 3345?. or any other place as the holder hereof may designate in writing, the sum of SPV°n tho~?sanu~ineteen & 40/100 (7, 019.40 ~~~lars, this sum being the Total of Payments referred to in the Disclosure Statement below~ which includes a FINANCE CHARGE on the amount financed. payable itL60 ' equal consecutive monthly installments of ~ 116 _ 9° each, and the first installment to become payable on thP lst day of M~rch ~ ' 19_ 73 . and one such instaliment to become due and payable on the- lst day of each succeeding month I ui~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash ` i~efore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebated under i the 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 by this Note is found to be untrue in any material respect, or in the event THE UNDEHSIGNED. WITHOUT THE PRIOR WRITTEN CONSENT OF THE HOLDEft HEREOF. SHALL SELL, ENCUMBEB (EXCEPT FOR ANY MORTGAGE WHICH IS SECURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT 08 SUFFEK ANY LIEN TO EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH . THE CREDIT EYIDENCED 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 ~ue 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. 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`'I 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 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 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 ar~? and all homestead exemptions alluw•ed hy law. A firat mortgage for the security of the aforesaid indei~tedness is retained by OUTDOOB BESORTS OF AMERICA, INC., on Lot No 3~'r~~I~n that certain Condominium knovv~? ~a OUTDOOR RESOATS AT NE'ITLES 1SI.AND, and on any improvemen~g. fixturea or after acquired property added thereon. as ahown by plat re- corded in the Ofnre of the Circuit ('ourt in and for St. Lucie ('ounty, 1~'lorida~ in P1at Book 16, page 1:1A thro~Rh 1J. KQGR21~ F'A~f ~U~ _ - ,:r.x - - 8 _ s e~ _ ~ " . _ .