HomeMy WebLinkAbout0868 - - -j-------- - '
~ r
~o ~,,,,o,,,,g,~ M O R T G A G E 254'788
~•1~ ~ ~s ~o~ . ,3 ~'o P.4.z~r l~c •
C 1`~ ~C,(~ 1lI c?. C_~iM aYlA~ J~/S l?~ Ft-~~-~ ~~~S iC.C t= _/H . ~'1~5~~6 ,
the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. re-
ceived from Oi1TDOOR RESORTS OF AMERICA. I~TC.. a corporation organized and existing under the Lawa
of the StaLe of Tennessee. the Mortgagor, hereby on this~__.._day of ~~~~E~ ~ 19~
mortgages to the Mortgagee the real property in St. Lucie Coanty. Florida, described as: ~,~o~`~,~'
Lot No. ~~?"-L in that certain coridominium known as OIJTD008 QA~~ ~ ~
v
~~umen!~ry Sts~a~s RESORTS OF AMERICA AT NEITLES ISLAND,- as shown by plat ~`~~E
P~`~ r„~
~-.~::z~ r~t9 recorded in the Of~'ice of the Circuit Court in and for St. Lucie County,~ ~a~~~~~~``~~ 3~
Florida, in Plat Book 16, page 1:1A through 1J.
a, ~ cance;ted G,~ c`• u`v~,,f
THIS IS A PUftCHASE MONEY MORTGAGE ~/i'
~s security for the payment of the promissory note of which the following is a co~~p~~ ~~fi
~
Installment Note and Disclosure Stoteme~ G
~ ~-~'t • ,c ~ . ' .cl%
6, 434.40 ~ u Florida
_ ~ ~ll ~~2 19~
For . Value Received. I. we or either of us prom ise to pay to the order of OUTDOOR RESORTS OF
AMERICA, INC.. P. O. Box 1116. densen Beach, Flor ida, 33467, or any other plac 4~s ~?gOholder hereof may
~x thousand four hundred thirt /iu
desi~nate in writing, the sum oi~ ~ y four ~ 6, 434_4~
this sum being the Total of Payments referred to in the Disclosure Ststement below, which includea a FINANCE
CHARGE on the amount financed. payable in 60 equal eonsecutive monthly instalimenta of
g 107.24 each, and the first installment to become payable on the__~S_Tday of
v~'~ ,
19~~ and one such instaltment to become due and payable on th S~~ day of each succeeding month
untii the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the fina! installment date~ the unearned partion of the FINANCE CHARGE shall be rebated under
the Rule of 78's.
In the event of defautt in the due and punctual payment of any instsllment on thia Note fox 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 materisl respect, or in the event THE UNDERSIGNED, WITHOUT
' THE PRIOB WRITTEN CONSENT OF THE HOLDER HEftEOF. SHALL SELL, ENCUMBEK (EXCEPT
` FOR ANY MORTGAGE WHICH 1S SECUftITY FOB THIS NOTE) OR OTHERWISE DISPOSE OF OB EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO
j EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEBSIGNED AND FINANCED THROUGH
' THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
! ecidenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness then
~ due shall become immedistely due and payabte at the option of the hotder hereof without demand~ presentment
' or notice of any kind. Any failure of holder to exereise 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 instaliment 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 instaliment or $5, whichever is less~ and in the event this Note is collected by
taw 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 Hoider a suflicient amount of such homestead or exemption as ma~• 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 1
; hereby, ar any renewal thereof, and do~t~ereby, jointly and severally, appoint the Holder the attorney in fact for
: each of them, to claim any and all homestead exemptions allowed by law.
; .
~ A first mortgagz for the se~curity of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
' AMERICA, INC.. on Lot No~4 l in that certain Condominiam known aa OUTDOOB ftESORTS AT NETTLES
t ISLAND~ and on any improvements, fixtures or after acquired property added thereon, as snown by plat re-
corded in the Oflice of the Circuit Court in and for St. Lucia County, Florida, in Plat Book 16, page 1:1A
~ through 1J.
` ~ .~o~K2~4 P~ 8~9 ~
~ ~ : - - - - _ - - - - - - - _ ~ ~ , ~ ~
~ . = ~ , , "
~ .u-„-~,,,~,~*~~~ . . _ .K z~ k''." ~ x Y
. _