HomeMy WebLinkAbout0661 ~ 2:5356 .
MORTGAGE
Phili~ & Donna_ Lee_Godfrey, 22127 West Brandon, Farmington, Michigan 48024
thc~ mort~,•a?~~?r, in cun,ideration of the principal sum specifiecl in the promis~ory note hereufte: described, re-
~~~•i~-ed f~Y~m OL;TI)OOR RESORTS OF ADiERICA, I~'C., a corporation organized and existing undar the Laws
~~f the Stxte uf Te~uies,ee, the riortKagor, hereby on this_ 27th _~a~ of-S~~!b~r_ _ , 19~.
m~~rt~;a~;e. to the ~Iort~agee the real property in St. Li~rie Count~, Florida, described as:
1180 Sec~io~ II
Lot No.__ _ in that certain condominium knoH•n as OUTDOOR
RESORTS OF ADiER1CA AT NETTLES ISLAI~D, as shown by plat
,{;;,:..d, ~„t+ recorded in the Office of the Circuit. Court in and for St. Lucie County,
Florida, in Plat Roc~k 16, page 1:1A through 1J.
` ; c~r.cailed
THIS IS A PURCHASE :110tiEY 1110RTGAGE
ati ,ecui-it~• for the pa~~ment of the promissoiy note of which the follo~~•ing is a co~y:
Instellment Note and Disclosure Statement
5199.60 _ St. Lucie County Florida
.
September 27 lg 73
F~~r ~'alue Recei~•ed, l, ~~•e or either of us prum i.e to pay to the order of OUTDOOR RESORTS OF
.-~~IF.RI('A, I1'C.. P. O. Box 1116, Jensen Beach, Flor ida. 33457. or any other place as the holder hereof may
~i~~~i~,~:?ce in ~.•ritin~, the ~um of Five Thousand One_Hundred Ninety Nine & 60/100~ 5199.60 ~ Dollars,
; t h;, ~um bein~; the Tot~~l of Payments referred to in the Uisclosure Statement Uelow. which indudes a FINANCE
~ +}i~RGE on the amount financed, payable irL- _-60__ equal consecutive monthly installments of
i 86.66_ ____Qach, and the first installment to become payaUle on the 15th day of November
! 1~ _73__, and one such installment to become due and payable on the-_ 15th day of each succeeding month
; until the ~ti•hole of said indebtedness (Total of Payments) is paid. In the e~ent of prepayment in full by cash
' ~~~~f~rre the fina? instatlment date, the unearned portion of the FII~ANCE CHARGE shall be rebated under
~ the Rule of 78's. ~
~
e In the erent of default in the due and punctual payment of any installment on this Note for a period of
±hirty (30) days, or if anv statement, representation or warranty in any application for the credit evidenced
~
~ h~- this Note is found to ~~e untrue in any~ material respect, or in the e~~ent THE UNDERSIGNED~ WITHOUT
~ TFiE PRIOR ~'~'RI1"I'EN CO~`SE\T OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
~ FOR A~'Y MORTGAGE «'HICH 1S SECURITY FOR THIS :~'OTE) OR OTHER~'VISE DISPOSE OF OR EN-
~ ~'L'MBER OR COMMIT A\Y "RREACH OF THE MORTGAGE OR PERM[T OR SUFFER~ ANY LIEN TO
~ ~:.1'IST ON THE REAL PROPERTl' PURCNASED BY THE Uh'DERSIG:~ED AND FINANCED THROUGH
"I'IIE CREDIT EVIDENCEU Bl' THIS NOTE or in the event of the incompetency, insolvency (howsoever
e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~ clue shall become immediately due and payable at the option of the holder hereof without demand, presentment
~ ~,r 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 e~•ent any instaliment is r.ot paid when due or within ten
~y= clays thereafter, the holder may collect, and the undersigned agree• to pay a late charge on such installment in
- an amount equal to 5`~ of such installment or $5, whiche~•er is less, and in the e~ent this Note is collected by
la~c or thmugh an attorney at la~• or under advice thereof, the unc~ersi~ned agrees to pay all costs of collection,
= incluclinK reasonable attorney's fees and court costs to the extent permitted by Florida law.
~'3 The undersigned and all endorsers or other parties to tfi?is note jointl~• and severally transfer, convey and
assi~n to the Holder a suflicient amount of such homestead or eremption as may be allowed, inciuding such
`r~~ homestead or exemption as may be set apart in bankruptc~•, to pay this note in full, ~~ith all costs of collection,
and do hereby direct any trustee in bankruptcy having po.se~sion of such homestead or exemption to deliver to
the Holder a sufficient amount of property_ or money ~et apart as eaempt. to pay the indebtedness evidenced
hereby, or an3~ renew•al thereof, and do hereby, jointly and se~•erall~•, appoint the Holder the attorney in fact for `
= each of themt to claim any and all homestead exemptions allo~ced by laH. ~
'':h A first mort~;age for the securit~', of t~ aforesaid indel~tedness is retained by OL'TDOOR RESORTS OF
~~Y A~1ERTCA, INC., on I,ot \o.ll$Q S~n~t?ia~ce'r'tain Condominium known sa OUTDOOR RESORTS AT NETTLES
ISLA:~D, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
c•«rded in the Office of the Circuit Court in and for St. I.ucie ('ounty, Florida. in Plat Book 16, page 1:1A
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