HomeMy WebLinkAbout0920 _ • - ,
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~'y~~~ MORTGI~GE
~a ~g.~~-~_l~ a v~ ~T o~/ I R~nr r ln )
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o N~~ ~ s I~t) ~~~y
the mort~?Figor, in consi deration o f t
he principa
l sum speci fi e
d in t
he promiss o r y n o t e h
e r
e
a f t e r d e s c r i b e
d, re-
~~t~i~~ed from OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the Laws
~~f the State of Tennessee~ the Mortgagor, hereby on this~-day of ~ , 19~~~
mortgage, to the Mortgagee the real property in St. Lucie County. Florida. described as: ,~o~FY`
Ms~,:,.. ;~,,:.;s Lot No.~~~in that certain condominium known as OUTDOOR o~c~91y~~.
^'~L RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat ~ .
, r~ , ~ . . _
recorded in the OflRce of the Circuit Court in and for St. Lucie County~y/,r' ~ d'~
=p"'~ Florida~ in Plat Book 16. page 1:1A through 1J. ~ ;^;'~Q,~ ~J%
THIS IS A PURCHASE DiONEY MORTGAGE ytio G~~c~'''~or'~J~~,',~:~J~~
a. ;ecurity for the payment of the promissory note of which the fo11oH ing is a copy?~~~o~~ J~~
d~ ~s~' ~\~C' " r_'
Installment Note and Disclosure Stotemeni~''
~ 7, 604 . 40 St . Luc ie County , , Ftorida
19~
For Value Recei~ ed. I. v~ e or either of us prom ise to pay to the order of OUTDOOR RESORTS OF
:~~IERICA. INC., P. O. Box 1116, Jensen Beach. Flor ida. 33457, or any other place as the holder hereof may
~ff~~i~nate in writing, the sum of~ventq-Bix hundred,four & 40/100------~ 7,604.40~ ~~~a~, ~
thi~ sum being the Total of Payments referred to~in the Disclosure Statement below, which includes a FINANCE ,
('tiARGE on the amount financed, payable in 60 equal consecutive monthly installments of i
~ 126 .?4 each, and the first instaliment to become payable on the 18t -day of Apri 1 ~
1~?3 , and one such installment to become due and payable on the lst day of each succeeding month
; ~mtil 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 CHABGE 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
1~~• this Note is found to be untrue in any material respect. or in the event THE UNDERSIGNED, WITHOIJT
T~iE PRIOR WRITTEN CONSENT F THE HOLDER HEREOF. SHALL SELL~ ENCUMBE~t (EXCEPT ,
FOR ANY MORTGAGE WHICH 1S ~CURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- }
('L'MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PEftMIT OR SUFFER ANY LIEN TO
EYIST ON THE REAL PROPERTY PURCHASED BY THE UNDEftSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (hoa?soever
e~•idenced) 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 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 o~ within ten !
clays thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in ±
an amount equal to 57 of such installment or $5, whichever is less. and in the event this Note is collected by '
~ la~r or through an attorney at law or under advice thereof. the undersigned agrees to pay all cos~s of collection,
includ;ng reasonable attorney's fees and court costs to the extent permitted by Florida law. ' t
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and ~
a~sign 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 cost~~of collection, . ;
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemptior~ to deliver to ~
the Holder a suf~'icient amount of property or money set apart as exempt to pay the indebtedhess evidenced 1
hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorA~,y in fact for ;
each of them. to claim a~:~? and all homestead exemptions alloH~ed by la~v.
A first mortgage for the sec ity of the aforesaid indebtedness is retained Uy OLJ'fDOOft RESOBTS OF
~MERICA, INC., on Lot No.~~d~ that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
ISLAND, and on any improvements, fixtures or after acquired pmperty added thereon, as shown by plat re-
corded in the Oflice ef the Circuit Court in and f~~r St. Lucie County, Florida~ in Plat Book 16R page l:lA ;
through 1J. 0 R 1A ~ g~g ~
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