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HomeMy WebLinkAbout0940 . _ _ _ . . . . _ . _ . _ _ . . . . . .S 6- z ~ ~ , v~, , 54842 ~ - ~ MORTGAGE ~ ;i ~~C"~% ~ ~ ~7L`~?A?~tJ'd•~l ~ i the mort~;agor, in consideration of the principal sum specified in the promissory note hereafter described, r~ ' cei~ed from OUTDOOR RESORTS OF AMERICA. INC., a corpo~ion organized and existing under the Laws ~ ~~f thP State of Tennessee, the Mortgagor, hereby on thi~day of ~e~ll~L~ ~ 19~ ~ mortgages to the Mortgagee the real property in St. Lucie County, Florida~ described as: t r= ; .i'~ .c~~' Lot No.~3_~~~n that certain condominium known as OUTDOOR Q~: - RESORTS OF AMEAICA AT NETTLES ISLAND, as shown by plat .a ~~~~1- Oaumen:ary s~amps recorded in the Office of the Circuit~Court in and for St. Lucie County t~~~ ~1S yryixed onginal not! ~orida, in Plat Book 16, page 1:1A through 1J. P d~,a ~ ~nd ancelied ~y~ 1~ ~E THIS IS A PURCHASE MONEY MORTGAGE ~tio 'L `,ti~ ~ e~0~~~. `~~L ~s securit~ for the pay ment of the promissory note of which the following is a co~o~ N~° c~\~~`~~`~• ~ 1 . S~` 4`Q~G~~ ~ Installment Note and Disclosure Statemei~ G~. ~7 , 604 . 40 St . Luc ie County . , Florida 02-6 19Z~ For Value Receiv~d, I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF ~ a~fERICA. INC.. P. O. Box 1116. Jensen Beach. Flor ida. 33457, or any other place as the holder hereof may ? ; cle~i~nate in writing, the sum of~'venty-siat _hundred, four 8s 40/100------~7,604.40~ ~~~a~~ thiti sum F~ein~; the Total of Payments referred to in the Disclosure Statement below~ which~includes a FINANCE ; , ('~iARGE on the amount financed, payable in 64 equal consecutive monthly installments of i 126.?4 ~ch, and the first installment to become payable on the__~_--day af- . 1~~, and one such installment to become due and payable on the-~day of each succeeding month until 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 shall be rebated under ~ ~ the Rule of ?8's. In the e~•ent 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 hy this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT : THE PRIOR WRITTEN GONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT 4 FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- ~ CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PEftM1T Oft SUFFEK ANY LIEN TO EXIST ON THE REAL PAOPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH ~ THE CREDIT 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 shali 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 or within ten ~ days thereafter, the holder may collect. and the undersigned agrees to pay a late charge ~n 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 sufi'icient amount of such homestead or exemption as may be allowed, including such hom~stead or exemption as may be set apart in bankruptcy, to pay this note in full. with all cost~ of collection, : and do hereUy 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 hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for ~ each of them. to claim a~ and all homestead exemptions allowed by law. _ A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RLSQRTS OF AMERICA, INC., on Lot No in that certain Condominium known as OUTDOOR RESORTS AT NE'ITLES ; ISLAND. and on any improvements, fixtures or after acquired property added thereon, as shown by plat re- j corded in the Offic~ of the Circuit Court in and for St. Lucie County. Florida~ in Plat Book 16, page 1:1A ; through 1J. c~ 600K rG~4 PACf ; c, _ r.; . - - - - - - - _ - - - , ~ `.~<,f _ ~ y ~ ~~`~`°~~~r .