HomeMy WebLinkAbout0928 ~ MORTGAGE
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4u~ QIY~F~2.S~rl A"~o ~J~l`i?~ M, NOE~Sor~ w~ r-E ,
the mortgagor, in consideration of the principal sum specified in the promissory note hereafter describQd. r~
ceived from OUTDOOR RESORTS OF AMERICA. INC.. a corporation organized and existing under the L~aws
of the Stute of Tennessee, the Mortgagor, hereby on this~-day of F~8~1~T , 19.~,
mortgages to the Mortgagee the real pmperty in St. Lucie County, Florida, deacribed as:
.~,s
Lot No ~a m that certain condominium known as OUTD04R ~ a~r'
RESORTS~OF AMERICA AT NE'I"rLES ISLAND, as shown by lat
potumentary Stemps recorded in the Office of the Circuit Court in and for St. Lucie County. L911~
d~~~ te Florida~ in Plat Book 16. page 1:1A through 1J. ~ -`~Q~~'~~sd` ~
THIS IS A PURCHASE MONEY MORTGAGE ~~~~~~~'~U~
.f; p < S~,
As security for the payment of the promissory note of which the following is a copy:G~~a~~~~o~'~`~J~t. ~i~p
lnstallment Note ond Disclosure Statemen~,',~~~
g 8774.40 St. Lucie Co
ntY , Florida
~ FkBI eL/A le~/ 19~ ~
For Value Received. I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF
A1~fER~ICA. INC.~ P. O. Box 1116, Jensen Besch, Flor ida, 33457, or any other place as the holder h reof may
8ight ?hansand Sev~n Hbndred Seventy F~ & 40~ DO11~,
designate in writing. the sum of
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
CHARGE on the amount financed. payable in 60 equai consecutive~monthly i stallments of
si
~ 146.23 each, and the first installment to become payable on t
SeT__~___day of
19~. and one such installment to become dae and payable on th day of each succeeding raonth
until the whole of said indebtedness (Total of Payrnents) is paid. In the event of prepayment in full by cash
before the fina} installment date, the unearned portion of the FINANCE CHARGE 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. regresentation 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 WRITTEN CONSENT OF THE HOLDEft HEREOF, SHALL SELL, ENCUMBER (EXCEPT
f FOR ANY -MORTGAGE WHICH 1S SECUKITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
I CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PEftMIT O~t SUFFE~t ANY LIEN TO
; E~IST ON THE REAL PKOPERTY PURCHASED BY THE UNDEftSIGNED AND FINANCED THROUGIi
; THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever
j evidenced) or bankruptcy of anyone or more of the ur.der~igned. then the entire remaining indebteclness then
~ due shall become immediately due and payable at the option of the holder hereof withont 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 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 sach installment in
an amount equal to 5% of such installment or $5, whichever is less, and in the event this Note ia 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 sufl5cient amovnt of such homestead :~r 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 collection,
; and do hereby direct any trustee in bankruptcy having posse.ssion of such homestead or exemption to deliver to
; the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedne~s evidenced
~ hereby, c~-. any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorneq in fact for
; each of them, to claim any and all homestead exemptions allowed by law.
` A first mortgage for the aecurity of the aforesaid indebtedness is retained by 0~3'fDOOR BESOBTS OF
; AMERICA~ INC., on Lot No. n that certain Condominium known as OUTDOOR RESORTS AT N~'TTLES
~ ISLAND, and on any improvements, fixtures or after acquired property arlded thereon, as shown by plat re-
~orded in the OflSce of the Circuit Court ~ in and for St. Lucie C u y orida~ in Pli?t Book 16, page 1:1A
through 1J. SGDK~~~ PAGf t7~~ ,
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