HomeMy WebLinkAbout0239 % ~ , MO~TGAGE , %~~~~8~
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;;~e mort~aRor, in consider tion of the principal sum specified in ` e promissory note hereafter described, re-
~~~•i~•e~i from OUTDOOR R SORTS OF AMERICA, INC.. a corporation organized and existing under the Laws
~~f the State of Tennessee, the Mortgagor, hereby on thi r~ay of ~ L' L- Y , 19.~~~
m~~c•t~*zges to the Mortgagee the real property in St. Lucie County. Florida, described as:
Lot No. ~n that certain condominium ~rown as OUTDOOR
~ RESURTS OF AMERICA AT NETTLES ISLAN+~ as shown by plat
recorded in ~ the Office of the Circuit Court in and ior St. Lucie County.
Florida, in Plat Book 16~ pa.ge 1:1A thmugh 1J.
. THIS IS d Ft;RCH~~E ~It3NE1' i~iaRTGAGE
:~s ~ecurity for the payment of the promissory note of which the foUowing is a copy:
lnstaitment ~Note ond Disclosure Statement
~ 8 189.40 ' ' St. Lucie County ~rida
~~,;,xro. :,3 ' _ T li f ~1- l'~ T~/~ 19~'
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and canceU~
For Value Received. I. we or either of us promise to pay to the order of OU'TDOOR RESORTS OF
:`IERICA, INC.~ P. O. Box 11Ei.gThe~ns~~o~c~~lgr'~i a,h~~~,Ep~ a~~,.p~~~~~ps the holder hereof may
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de~ignate in writing, the sum of ( 8,189 .40) Pollars,
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
f CHARGE on the amount financed. payable in~-~'-~--60~""""- equal con9ecutive monthly installments of
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i ni • n L ~ at_ c~a • a_t~---~ a- L------ u_ a / S/~.7_» r ~ L
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~ ::~,~t~,-•~~~~---~a~u, diiu uiC w~~ lll.`i~iLltl~tll4 w u~.v~uC }iiaj%avic vii L~'i~ ~ uai 'va - f ,
~ 19_~ and one such installment to become due and payable on the ~ day of ea~ch succeeding month
~ until the ~vhole of said indebtedness (Total of Payments) is paid. In the event of prep~tyment in full by cash
= t~efore the final installment date, the unearned portion of the FINANCE CHAriGE shall be rebated under
; the Rule of 78's.
~
~ In the event of default in Lhe due and punctual payment of any installment on thia Note for a period- of
~ tnirty (30) days, or if any statement. representation or warranty in any application for the credit evidenced
~ t~~ this \~ote is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOtIT
~ THE PRIOR WRITTE~i CONSENT OF THE HOLDEB HEREOF. SHALL SELL, ENCUMBER (EXCEPT
~ FOR ANY MORTGAGE ~'VHICH 1S SECURITY FOR THIS NOTE) OR OTHER~iRSE DISPOSE OF Oft EN-
~ CUNIBER OR COMMIT ANY BREACH OF TAE MORTGAGE OR PERMIT OR SUFFE~t ANY LIEN TO
~ E~iIST ON THE REAL PROPERTY PURCHASED BY THE L'NDERSIGNED AND FINANCED THROUGH
~ 'I~HE 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 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 riQht
~ to exercise the same at any other time.
Time is of the essence of this Note. In the event any instal[ment 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% 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,
K~Y induding reasonable attorney's feea and court costs to the extent permitted by Florida law.
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The undersigned and all endorsers or other parties to this note jointly and severally transfer~ convey and
- assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
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a?' homestead or exemption as may be set apart in bankruptcy. to pay this note in full~ with all costs of collection,
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and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver t~
the Holder a suft~cient 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 ar~? and all homestead exemptions allowed by law.
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A firat mortgage for the sec~ity of the aforesaid indebtedness is retained by OUTDOOB RESOftTS OF
; T .
AMERICA~ INC., on Lot No. ~""in
that certain Condominium known aa OUTDOOR RESORTS AT NE'I'TLES
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tSLA:~D. an3 on any improvements, fixtures or after acqnired property added thereon, as shown by piat re-
cordeJ i~~ the Office of the Circuit Court in and for St. Lueie County, F'lorida, in Plat Book 16, page l:lA
~ through 1J.
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