HomeMy WebLinkAbout0872 ~''P M O R T G A G E 254'791
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~N f~ eh y /'?i ~dh 4D ~?ti h ,~:s L~~ ~o (~/~~r Wr~~ .
the mortgagor. in c nsideration f the principal sum specifi in the promissory note hereafter described. re-
ceived from OIJTDOOR RESORTS OF AMERICA, IKC:; a corporation organized and existing under the Laws -
of the State of Tennessee, the Mortgagor, hereby on thit~ L day of J~~+ v~1? Y 19~_,
mortgages to the Mortgagee the real property in St. Dueie County~ Florida, described as -~y ,
; ; Q~~
Lot No .in that certain condominium known as OIJTDOOR _;a ,aty
RESORTS O AMERICA AT NETTLES ISLAND, as shown by plat l~ ~;~`j4:''s~
. , P~t ~
' c~~ recorded in the Office of the Circuit Court in and for St. Lucie County
~ Florida~ in Plat Book 16. page 1:1A through IJ. , g~ `~~y'~~~>>~~~ y~,J~~
_ . . . _ tts}} rl Si~J
THIS IS A PURCHASE MONEY MOATGAGE
As security for the payment of the promissory note of which the following is a copy~a~~~y:~~ ~
Installment Note ond Disclosure Statement ~
$ 9281.28 .~f
~ ~ ciG ~'c ~o c, yr Florida
~
~ . Ja~. a~s Y L 19~
For Value Received. I. we or either of us promise to pay to the order of OUTUOOR RESORTS OF
A MERICA, INC., P. O. Box 1116, Jensen Beach, Flor ida. 33457, or any other place as 2 e ol O r hereof may
de~ignate in writing, the sum of N~e ~ou~and ~ro $anarea $iqhty on~ "
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
CHARGE on the amount financed, payable iri 96 equal consecutive monthly instaliments of
$ 96.68 each, and the first installment to become ~ S~
. payable on the day of r C ,
19_~. and one such installment to become due and payable on the day of each succeeding raonth
until 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 portion of the FINANCE CHAKGE 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 (3Q) 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. WITHOUT
' THE PRIOR WBITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBEB (EXCEPT
~ FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PEBMIT 08 SUFFER ANY LIEN TO
I'~ EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ THE CREDIT EVIDENCED BY -THIS NOTE or in the event of the incompetency. insotvency (howsoever
f evidenced) or bankruptcy of anyone or more of the undersigneci, ihen ihe eni~ire remaining itt~et,t~:,e~ ~~;en
~ 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.
I
j Time is of the essence of this Note. In the event any installment is not paid when dae or within ten
i 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 ia collected by
I; law or thrnugh 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 atl endorsers or other parties to this note jointly and severally transfer, convey and
~ assign to the Holder a sufl5cient 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 callection,
E and do hereby direct any trustee in bankruntcy having possession of sucTr. 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, jointly and severally, appoint the Holder the attorney in fact for
each of them~ to claim any and all homestead exemptions allowed by law.
E
! A first mortgage for the security of the aforesaid indebtedness is retained by OLTfDOOR RESOBTS OF
f Ai~IERICA, INC., on Lot No.~.~in that certain Condominium known as OUTDOOB RESOATS AT NE"ITLES
~ ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
~ corded in the Ofnce. of the Cireuit Court in and for St. Lucie County, Florida, in PLt Book 16, page 1:1A
through ld. ~G~!~ 214 ?AGE ~ i v ~ .
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