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HomeMy WebLinkAbout2231 ~ ~ 3~~ M O R T G A G E 2b~ 81~ , , . i'~ % ; Q ' ~ - ' - the mortgagor, i nsideratio f t e pri pal s m specifi in the promi. ry note hereafter described. re- cei~~ed from OUTDOOR RESORTS UF AMERICA, INC., a corporation orgunized and existing under the Laws of the State of Tennessee, the Mortgagor, hereby on thiS ~~day of ~ P~ 19~. mortgages to the Mortgagee the real property in St. Lucie County~ Florida. described as: r~7~ T~____ ~x - Lot No.~ U.--in that certain condominium known as OUTDOOft RESORTS OF AMEBICA AT NETTLES ISLAND, as shown by plat ,,..t recorded in the Office of the Circuit Court in and for St. Lucie County, ~ Florida, in Plat Book 16. page 1:1A through 1J. - - THtS IS A PURCHASE MONEY MORTGAGL As security-for the payment of the promissory note of which the following is a copy: ~ ~ lnstallment Note and Disclosure Statemen~ g 8, 6I~ _ S t. Luc ie Count v , Fiorida ~ 19~ For Value Received. I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF A:tiERIGA, INC.. P. O. Box 2116. Jensen Beach. Flor ida, 33457, or any other place as the holder hereof may designate in ~~riting, the sum of_ Eight~-si.u~ hundred~_seventeen & 92/Z00 ~ 8,617.9~ ~)lars, 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 -96- equal consecutive monthl y installments of ~__~2• 77 each. and the first installment to become payable on the ~5t' day of~8 ~ ~ 1~~~, and one such installment to become due and payable on the-~s~ 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 CHAftGE shall be rebated under the Ru1e of 78's. - In the event of default in the due and punctual payment of any instatlment on this Note for a periocl of thirty (30) days, or if any statement, representatian or warranty in any application for the credit evidenced t~y this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOIJT ' THE FRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT ; FOR ANY MORTGAGE WHTCH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- ~ CUMBE~t OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO ; EXIST ON THE BEAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH j THE CBEDIT EVIUENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever j evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then s due shall become immediately due and payable at the option of the holder hereaf without demand~ presentment ; or notice of any kind. Any failure of holder to exercise said option shall not constitute s waiver of the right ! to exercise the same at any other time. f k 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 on such installment in an amount equal to 5 J of such installment or ~5, whichever is iess, 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 permiLted 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 altowed, including such homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with a]I costs of collection, and do hereby direct ariy trastee in bankruptcy having possession of such homestead or exemption to deliver to ~ the ~Iolder a su,~'icient amount of property or money set apart as exempt to pay the indebtedness evidenced ~ hereby, or any renewal thereof, and do hereby, jointly and se~ eraily, appoint Lhe 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 BESORTS OF ~ AMERICA, INC., on Lot No.~_in that certain Condominium knowrt as OUTDOOft RESORTS AT NETTLES ISLAND, and on any impmvements, fixtares or after acquired property added thereon, as shown by plat re- corded in the Qfltce of Lhe Circuit Court in and for St. Lucie County,o Qlo idat~.~in Plet Book 16, page 1:1A throtigh 1J. 800K~+~ ( PACE22~ - - _ ~ x„ ~ = - ~ , . . ~ . ~ ~ ~.e~~