HomeMy WebLinkAbout0840 ~ ~ . ~ .
;
~'i~ MORTGAGE~? 2~~6~ ~
a/a1~. PS ~s s-~r cG i?- .Sl~r ~~d Fora~irC~ ~ I~Nd ~t/~~~,
the mortgagor, in consideration o the principal sum specified in the promtssory note hereafter described. r~
c•ei~•ed from OUTDOOR RESORTS OF AMERICA, INC., a corporation organazed and existing under the Laws
~~f the State of Tennessee. the l~dortgagor, hereby on this_~__day of 6}uc31~- Y , 19~~,~~
moi•tgages to the Mortgagee the real property in St. Lucie County, Florida, descriFrad as: ~d~~
~
~ Q'~,~1Y
Lot No.~_~~~_in that certain condominium known as OUTI~OR ~ Qp
ootu~c~:~~ry st~~+as RESORTS OF AMERICA AT NETTLES ISLAND, as shown by ~1at N/ ~~QE~~~s~` Q~
ey~1Xe~ o,,~;,ai eot~ recorded in the Office of the Circuit Court in and for St. Lucie County. G~0`~'.~p.
Florida, in Plat Book 16, page 1:1A throu h 1J. 1~
yAd canc~iled S ~ ~ ; r ~ , . . i ~~~~~~p SZ~ ~ L.,
THIS IS A PURCHASE MONEY MORTGAGE ~~~i9~
a~ securit~~ for the payment of the promissory note of which the following is a cop~,~"'p~"
Installment Nofe and Disclosure Statemen~~~
~ . - ~
~ 7,604.40 _ St. Lucie County,
. F'lorida
19
For Value Receive~. I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF
:~1IERICA, II~TC.. P. O. B~x 1116, Jensen Beach. Flor ida, 33457, or any other place as the holder hereof may
ctc•,i~?nate in writing, the sum of Sevellty-six hundred, four & 40/100----- ~7, 604. 40
this sum beinb the Totai of Payments referred to in the Disclosure Statement below. which includes a FINANCE
t'~iARGE on the amount financed, payable it~4_ equal consecutive monthly installments of
~-12fi. ?_4 each, and the first installment to become payable on the-l8t_day of ,
1~_73 , and one such installment to become due and payable on the4 lst day of each succeeding month
ui~tii 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, Lhe unearned portion of the FINANCE CHAAGE shall be rebated under
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
?~y this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIBR WRITTEN CONSENT OF THE HOLDER HEBEOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
f CUMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PEBMIT Oft SUFFER ANY LIEN TO
F.XIST ON TH~ REAL PROPEATY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
f TIiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompE?.tency, insolvency (howsoever
~ e~~idenced) or bankruptcy of anyone or more of f,he undersigned, then the entire rem~.:^ing indebt~n~s thsn-
4 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 halder to exercise said option shal! not constitute a waiver of the right
E to exercise the same at any other time.
~
! Time is of the essence of this Note. In the event any instaliment is not paid when due or within ten
E 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 ag~ees to pay a11 costs of collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law.
r The undersigned and all endorsers or other parties to this note joiittty 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 bankrnptcy, to pay this note in fu11~ with al1 costs of collection,
; and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
R the Holder a sufl5cient 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 allow ed by law.
t .
5
~ A first mortgage for the secnrity of the aforesaid indebtedness is retained by OVl'DOOB RESORTS OF
~ AMERICA, INC., on Lot No.~in that certain Gondominium knotvn sa pUTDOOR RESORTS AT NEITLES
iSLAND, and on any improvement~~ fixtures or after acquired property added thereon, as shown by plat re-
~ ~orded in the Office of the Circuit Court in and for St. Lucie Coanty, Florida, in Plat Book 16, page l:lA
F through 1J.
~ ~o~K2~.4 PA~ 8~ , .3
~ ~
~ ~s
.*...-;t ..a- . ' - _ _ . xt ~~.,,~a* „
~ ~ r ~
~ ~ ~ ~
. _.3~.-. . _