HomeMy WebLinkAbout0295 M 0 R T G A G E 2~~&~z
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~he m~n•t~,?a~*or, in consideration of the principal sum specified in the prumi~sor~• note hereafter described, re-
~•~~i~-ed fiY?m OLTnOOR RF.SORTS OF AMERICA. II~C., a corporation organized and e~isting under the Laws
~~f the State c~f Tenne~see, the Mortgagor, hereb~~ o~i thi.__ ~`l.__daS• of_ ___J~ , 19~~_,
murt},?ages to the ?~Iortgagee the real property in St. Lucie C~unt~•, Florida, descr~Ued as:
Lot ti'o.~1 ~~-T~in that certain condominium knoH•n as OUTDOOR
~ RESORTS OF AMERIC'r~ AT \ETTI.F.S ISLA?~D, as shown by plat
recorded in the Ofl~ce of the Circuit Cow•t in and for St. Lucie County,
Florida, in Plat Book 16, page 1:1A throu~,•h 1J.
THIS IS A PURCHASE 1iONEl' 1iORTGAGE ;
security for the pa~•ment of the promissory note of w hich the follo~ving is a copy : ~
_ Installment Note and Disclosure Statement
~ 6, 369 . 60 • S t. Luc ie County , Florida
- - - ig 1_:
For ~'alue Recei<<ed, I, H'e or either of us promise to pay to the order of OUTDOOR RESORTS OF
:~11ERIC~, I:~C., P. O. Box 1116, Jensen Beach Florida, 33457, or any other pl~ce as the holder hereof may
Six thousan~ three hundred sixty-nine 6 369.6
dt:.i~nate in ~~•ritin~, the sum of & -ba~.~AA__- ( ' q Dollars,
t}~i~ sum bein~,? the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
~ ~~H~R('.E on the amount financed, payable in- _-60 equal consecutive monthly instaliments of
E ~ 106 .16------ e~ch, and the first installment to become payabie on the -~l~day of- S i= A T. ,
~ .
~ 1~ 7.3, and one such installment to become due and payabie on the__.? s r. day of each succeeding month
~ tu~til the ~chole of said indebtedness (Total of Payments) is paid. In the e~ent of prepapment in full b3 cash
~ i~efore the final installment date, the unearned portion of the FINr1NCE CHARGE shall be rebated under
~ the Rule of 78's. -
~ In the e~~ent of default in the due and punctual payment of any instaliment on this Note for a period of
~ tt~irty (30) days, or if any statement, representation or w•arranty in any application far the credit evidenced
f~~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, ~t~ITHOUT
THE PRIOR «'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
~'OR Ai~Y MORTGAGE «'HICH 1S SECURITY FOR THIS ~'OTE) OR OTHERWISE DISPOSE OF OR EN-
~ ('L'MBER OR C0:4ir1IT A1'Y RREACH OF THE hiORTGAGE OR PERMiT OR SUFFER ANY LIEN TO
~ EIIST Oh' THE REAL PROPERTY PURGHASED RY THE L'NDERSIG\'ED Al~'D FINANCED THROUGH
THE CREDIT EVIDENCED B~ THIS NOTE or in the erent of the incompetency, insolvency (howsoever
~ e~•idenced) 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 ~f the holder hereof without demand, presentment
or notice of any kind. Any failure of holder to exerci~e ~aid option ~hall nut constitute a waiver of the right
to exercise the same at any other time.
Time is of the essence of this :~ote. Irr the e~~ent any instaliment is not paid when due or within ten
days thereafter, the holder mav collect, and the under~i~,?ned agree~ to pay a late charge on such installment in
an amount equal to 5;~: of such instaliment or $5, w•hichever is less, and in the event this Note is collected by
~ law or through an attorney at laK~ or under advice thereof, the undersigned agrees to pay all costs of collection,
4;~ includin~ reasonable attorney's fees and court costs to the extent permitted by Florida law.
f,~~
The andersigned and all endorsers or other parties to this note jointly~ and severally transfer, convey and
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assi~*n to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in bankruptc~•, to pay this note in fall, with all costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or esemption to deliver to
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the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidQnced
_ hereby, or any renewal thereof, and do hereby, jointly and ~e~~erally, appoint the Holder the attorney in fact for
each of them, to claim a~:~~ and all homestead exemptions allu«•ed by la«-.
A firat mort~age for the security of the aforesaid indebteclnes~ is retained by OUTI)UOR RESORTS OF
AMERICA, INC., on Lot \'o.~~.L_~n that certain Condominium known aa OL`TDOOR RESORTS AT NET1'j.ES
r~ ISI.A:v'D, and on any improvements, fixtures or after acquired prnperty added thereon, gs shown by plat re-
~~~i corded in the Oflice of the Circuit ('ourt in and for St. Lucie ('ounty, Florida, in Plat Book 16. page 1:1A
thrr,u~h l.J. BOOM ~~0 PACE ~9t~ > - ? ~ '