HomeMy WebLinkAbout2029 L~ ~ MORTGAGE 2684~5
I~ ~ P n P~~ !U ~ f R-I'Z d
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ihe mortgagor. in consideration of the princi p
a l sum s pecified in the promissor y note her
e af t e r d es c r i b e
d. r~
ceiveci from OUTDOOR RESORTS OF AMERICA, INC.. a corp ~r3~on organiz~d and existing under the Laws
of the State of Tennessee, the Mortgagor, hereby on this day of ~ ~ y . 19
mortgages to the ~iortgagee the real property in St. Lucie County. Florida, described as:
Lot No • ?}~in that certain condomenium kno~r•n as OITTDOO~t
RESJR'TS OF AMERICA AT NETTLES ISLA~TD. as shown by plat •
recorded in ~the Office of the Circuit Court in and for St. Lucie County, -
Florida, in Plat Book 16. page 1:IA through 1J.
' THIS IS A PURCHr1SE bIONEY MORTGAGE
As security fer the payment of the promissory note of ~vhich the following is a copy:
lnstallment Note and Disclosure Statement
57 , 643 . 52 St . Lucie County Florida
~ ~ ~ ~ ~ 2 1~~
For Value Received, I, we or either of us prom ise to pay to the order of OLTTDOOR RESORTS OF
AtiIERICA. INC., P. O. Box 1116. Jensen Beach~ Flor ida. 33457 or an other place as the holder hereof may
Seven thousand six• hunc~red t~orty-three
de~ignate in writing, the sum of g~~ ~i nn ~7, 643 . 52 ~~~~a~~
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
' CHARGE on the amount 6nanced. payable in -------96-------~qual consecutive monthly installments of
I ~ 79.62------- each, and the first installment to become payable on the~~
day of
~
~
~ 19_~. and one such installment to become due and payable on the J~ 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 fina! installment date, the unearned portion of the FII~'ANCE CHAAGE shall be rebated under
ihe Rule of ?8's.
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
~ by this Note is found to be untrue in any material respect, or in the event THE UNDER3IGNED, WITHOIJT
THE PRIOft W~tITTEN CONSENT OF THE HOLDEB HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY RREACH OF THE biORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
~ EXIST Ol\' THE REAL PROPEBTY PURCHASED BY THE UNDERSIGNED AI`D FINANCED THROUGH
~ i HE CftEDIT EVIDENCED BY THIS NOTE or in the -event of the incompetency, insolvency (howsoever
~ evidenced) or bankruptcy of ar~yone~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.
~ 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 less, and in the event this Note is collected by
'4 law or through an attorney at law or under advice thereof, the undersigned agrees to pay aU costs of collection,
~ including reasonable attorney's fees and court costs to the extent permitted by Ftorida law.
~
~-1~ The undersigned and all endorsers or other parties to this note jointly and severally transfer, conv~y and
~ assign to the Holder a sufi'icient amount of such homestead or exemptiun as may be allowed, includir.g such
~ hornestead or exemption as may be set apart in bankruptcy. to pay this note in full, with alt costs of collection,
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to d2l~ver to
~ the Hol~er a s~fl5cient amount of property or money set apart as exempt to pay the indebtedness evidenced
he-:~by. or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
each o~ ther.~. to claim ar~• and all homestead exemptions allowed by law.
. A fir:,t in~~rtgage for the security of the aforesaid indebtedness is retained by OUTDOOft RESORTS OF.
~ :1`~ih:RICA, IN~., on Lc?t No 'n that certain Condominium known aa OUTDOOR RESORTS AT 1~TETTLES
t:d,ti:~D, ar.d on any improvements, fixtures or after acquired property added thereon, as sho~vn by ~lat re-
corcieJ ~n the Office of the Circuit Court in and for St. Lucie County~ in Pl t 16, page 1:1A
throu~,~h IJ.
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