Loading...
HomeMy WebLinkAbout1027 - ~ - - - 260980 . ~s~1~ MORTGAGE . r ~ the mortgagor. in consideration of the principal sum specified in the pmmisso"ry note he ter described. r~ ceived from OUTDOOR RESORTS OF AMERICA, INC.. a corporation organized and existing under the Laws of tFie State of Tennessee. the Mortgagor, hereby on this_._1~.~day of , 19 ~ mortgages to the Diortgagee the real pmperty in St. Lucie County, Florida. described as: , ~c~ Q~,~ Lot No. in that certain condominium known as OUTDOOR. Q~'~.~9~`' RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat ~ ~~~Sd~ recorded it~ the Office of the Circuit Court in and for St. Lucie County r~ F7orida, in Plat Book 16. page 1:1A through 1J. ~ THIS IS A PURCHASE MONEY MORTGAGE ,~9~5 ~~~~,st' ~ As security for the payment of the promissory note of wh:ch the following is a cop~~o_,~c ~`~~t ~,~6L Instaliment Note and Disclosure Statemen~"~~,,~~` s 7, 604 .40 St . Lucie County ~ Fiorida ~ A~~: / ~s~ ~9.2,~ For Value Received, I. we or either of us promise to pay to the order of OUTDOOR RESO~tTS OF ADiERICA, INC.. P. O. Box 11~6, Jensen Beach, Flor ida. 3345?, or any other place as the holder hereof may designate in writing, the sum of Seventv-six hundred, four & 40~100-----C 7,604.40) ~~lars, this sum being the Total of Payments referred to in the Disclosure Statement below~ which includea a FINANCE CHARGE on the amount financed, payable in 60 equal consecutive monthly installments of S 126 . ~ ~ ~ 74 - each~ and the first installment to become payable on thp day of ~y~ay ~ ~ 19~. and one such installment to become due and payable on the 1"~ day of each succeeding month until the whole of said indebtedness (Total of Payments) is paid. In the e~•ent of prepayment in full by cash before the final instaliment date, the unearned portion of the FINANCE CHAAGE shall be rebated under - the Rule of ?8's. I 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 g by this Note is found to be untrue in any material respect, or in the event THE UNDEKSIGNED, WITHOUT - ; THE PRIO~t WftITTEN CONSENT OF THE HOLDER HEREOF~ SHALL SELL, ENCUMBE~t (EXCEPT FOR ANY MORTGAGE WHICH 1S SECUA~TY FOR THIS NOTE) OR OTHEKWISE DISPOSE OF OR EN- CUMBER OR COMMIT ANY BREAC~I OF THE MORTGAGE OB PEBMIT 08 SUFFER ANY LIEN TO EXIST 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 (howsoever evidenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness then due shall become immediately due and payable aL 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. Z~me 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 on such instaliment in~ an amount equal to 5~~ of such installment or $5, whichever is less, and in the event this Note is collected by la~v 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 Hoider a suflicient amount of such homestead or exemption as may be allowed. including such ~F 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 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 severaily, appoint the Holder the attorney in fact for each of them. to claim ai:; and all homestead exemptions allowed by law. ~ A first mortgage for the security of the aforesaid indebtedness is retained by OUTUOOFi RESiJRTS OF AMERiCA, INC., on Lot No.L~~in that certain Condominium known aa OUTDOOR R.~SORT.°, AT NFT;LES ISLAND, and on any irr~provements, fixtures or after acquired property added therec~n, as shown by plat re- corded in the Office of the Circuit Court in and for St. Lucie County, Florida. in Plat Ba,k 16, page 1:1A L through 1J. ~ ~oox 21? P~c~1~22 ~ ~ : _ - . ~ . ~ . :~~.~~.r ~a~.~ ~ _ _ ~ ~