HomeMy WebLinkAbout1035 t
~ - ~ ` - . _ _ _ - - - - - - . ~ ` _ _--26~98 -
MOR.TGAGE 6
War~ H. Pettit & Lorraine V. Pe~it (his wife)
the mort~ngor. in consideration of the principal sum specified in the promissory note hereafter described. re~
cei~•ed from OUTDOOR RESORTS OF AMERICA. INC., a corporation organized snd existing under the Laws
c?f the State of Tennessee, the Mortgagor, hereby on this~_day of March ~ 19 73 ~
mortgages to the Mortgagee the real property in St. Lucie County~ Florida. described as: s
Lot No in that certain condominium known as OUTD008 ~j Q~.~M~~ Q'~'~
RESORTS F AMERICA AT NE1"fLES ISLAND. as shown by plat ~N Sp~' ~y
. recorded in the OflSce of the Circuit Court in and for St. Lucie County,~ Q~~'~S
Florida, in Plat Book 16, page 1:1A through 1J. ~5~~ r¢.
~N 1~' 1~ ~E
• THIS IS A PURCHASE MONEY 11iORTGAGE~LE~.NC~s~~'~~Ey~
s~•~
As security for the payment of the promissory note of which the follo~ving is a c~F.a cS~ ~G"
instaiiment Note and Disc1osure Stoteme~t~ ~
a 7, 604 . 40 S t. Luc ie County Ftorida
,
March 23 _ ly 73
For Value Received, I, we or either of us promise to pay to the order of OUTDOOR RESORTS OF
A~iERICA, INC.. P. O. Box 1116, Jensen Beach. Flor ida. 33457, or any other place as the holder hereof may s
cle•ignate in ~vriting, the sum of Seventy-six hundred, four & 40/100-----~ 7,604.~+0~ Dollars,
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
C;~~ARGE on the amount financed, payabte in 60 equal consecutive monthly installments of
126.74 each~ and the first installment to become payable on the lst _day of June
,
1~_ 7.3_, and one such installment to become due. and payable on the lst 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
i,efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated ut?der~
the Rule of 78's.
In the event of default in the due and punctual payment of any instaliment on this Note for a period of _
thie•ty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT •
T~~E PRIOR WRITTEN CONSEI~T OF THE HOLDER HEREOF~ SHALL SELL, ENCUM~ER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY F08 THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER Oft COMMIT ANY BREACH OF THE MORTGAGE OR PE~tMIT OR SUFFEIt AI~~Y LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVTDENCED BY THIS NOTE or in the event of the incompetency. insotvency (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 exercise said option shall not constitute a waiver of the right
' to exercise the same at any other time.
1`ime i~ of the essenc~ of this Note. In the e~ ent any instaliment is not paid when due or within ten
; ~lays thereafter, the holder may coliect, and the undersigned agrees to pay r~ tate charge on such installment in
a~~ amou~t equd~ to 5 J of such installment or $5, whichevei• is 1ess, and in the event this Note is eollected by
?aw or threagh an attorney at law~ or ander advice thereof~ the undersigned agrees to pay all costs of collection,
~nclu~inK re~.^ona?~IE attorney's fees and court costs to the extent permitted by Florida law.
T~e undersigned and all endorsers or other parties to this note jointly and severallj• transfer, convey and
:~:c:.ifi~i to the Hol ~er a sufficient amount of such homestead or exemption as may be allowed, iacluding such .
h~_~mesi~•ac'•. ^i~ e~emption as may be set apart in bankruptcy, to pay this note in full, ~vith all costs of collection, j
and uo t:~reLy direct any trustee in bankruptcy having possession of such homestead or exemption to deli~er to
the Holder a suf~'icient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby. or a~~y rene~va! 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 allo~~•ed b~~ law,
A first mortgage for the security of the aforesaid indel,teciness is retained by OUTDOOR RESORTS 4F
A biERICA, INC.~ on Lot No.420~5~ that certain Condominium known aa OUTDOOR RESORTS AT NETTLF.S
tSLANi), and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
cc~rded in the OfT'ice of the Circuit Court in and for St. Lucie County, Florida, in P1at Book 16, page 1:1A
through 1J.
, • ; ~OOK ~7 AM6E
~.y y G~ 4 _ - - - - - ~
~
s ~ ~