HomeMy WebLinkAbout0884 . a
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l~ g,1'w`~ M 0 R T G A G E zS4800 ~
Hara~ld Lorenz & Sva R. Lo enz~ h;s wife ~
the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. re-
~•ei~~ed from OIJTDOOR RESORTS OF AMERICA, INC.. a corporation organized and existing under the Laws
~~f the State of Tennessee, the Mortgagor, hereby on this 22na day of November 19.~~,
mortgages~ the Mortgagee the real property in St, Lucie County, Florida, described as: ~~~s
~~~g ~ oF
Lot No. Z S6 N in that certain condominium known as OUTDOOft "
c - " . `e~~ea y~ ,~`Q a,~-
e~~~~ a ~an RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat `NRA~~:•
sr . recorded in the Office of the Cireuit Court in and for St. Lucie County~ c~ ~~s
Florida, in Plat Book 16, page 1:1A through 1J. ~e~ p '
THIS IS A PURCHASE MONEY MORTGAGE •c;
a~ security for the payment of the promissory note of which the following is a col~,O~O~~~o~R~~oR~'~~
Installment Note and Dis~losure Stotemeno~`~
~
g 9,944.fi8 St. Lucie , Florida
November 22~ ~9_1~ ~
For Value Received, I, we or either of us promise to pay to the order of OUTDOOR BESORTS OF ~
a~iERICA. INC.~ P. O. Box 1116. Jensen Beach, Flor ida. 3345T, or any other plac a~the holder hereof may
~8/100 7
de~i finate in writing. the sum of TNOIISAND NTNR t~iiN FD FOBTY '~ttFF and ($9 ~ 943.68) ~O~~arg~ i
this sum Ueing the T~tal of Payments referred to in the Disclosure Statement below, which incIudes a FINANCE
CHARGE on the amount financed, payable in 96 equai consecutive monthl -
y installments of
5~~8 each, and the first instaliment to become payable on the 22nd day of ~ecember , i
19_~. and one such installment to become due and payable on the 22nd day of each succeeding month t
t,ntil 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 CHARGE ahall be rebated under
t h e 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 UNDERSIGNED. WITHOLJT
THE PRIOB WRITTEN CONSENT OF THE HOLDEB HEREOF, SHALL SELL~ ENCUMBE~t (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR 4THERWISE DISPOSE OF OR EN-
' CUMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PEKMIT 08 SUFFEIt ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEBSIGNED AND FINANCED TIiROUGIi
THE CBEDIT 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
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 installment is no4 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 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 allowe~, including such
' homestead or exemption as may be set apart in bankruptcy, to puy 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 suf~'icient amount of property or money set apart as exempt to pay the indebtedness evidenced ~
' hereby~ or any renewai thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for ~
I, each of them, to claim ar:;? and a11 homestesd exemptions allowed by law. ~
i A first mortgage for the security of the aforesaid indebtedness is retained by Oi!'fD008 KESORTS OF
~
~ AMERICA, INC., on Lot No.1,5b~i_in that certain Condominii~m known as OUTDOOR RESORTS AT NF.'TTLES
E ISLAND~ and on any improvemen~s, fixtures or after acquired property added thereon. as shown by plat re-
r corded in the Oflice of the Circuit Court in and~ for St. I.ucie County, ~~~r' n Plst ~ook 16, page 1:1A
~ throu~h 1J. BC::y~...1''~ i'hL: vG~
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