HomeMy WebLinkAbout0851 ~
iL ~r'` _ ~ ~ ~ ~ ~ ~ ~ 2'79'710
MORTGAGE
~ ~ ~ - ~
__/:4 _~~~~:-~~l~ --~"-~.i:-~~~ci:~t~-_ ti~=r~~ _c~~_'__ _
the m~n•t~.•agur, in consideration of the principal sum specitied ~n the promi:soc~• n~~te hereafter descrihed, re-
r~~i~-~~~~ il•~~n~ OL?TnOOR RF.SORTS OF ADiERICA, 11C., a cor~atiou urg~u~ized .tnd existing under the LaHs
~~f the titzite ~?f Ten~ie~.ee, the Mortgagor, hei-eb~• on thi._ .~1f ~ da~• ~?f_. _ ,,i~~~~tt- ~ ~~?-L 191-f ,
nun•t~,.i~,~~~, t~? the ~Iortgagee the reat pmpertp in St. Lucie Counh, Flurida, de~crihed as:
.
Lot 1\0.__ %`j~
~'~~r_ in that certaiu conclominium kno~cn <<s OUTI~OR
RESORTS OF AD'IERICA AT \F.TTI.ES 1SLA\'n. ~i~ .ho~~•n b~• plat
recorded in the ORice of the ('ii•cuit Court in and f'or St. L~ County.
Florida, in Plat Rook 16, p<<~;e 1:1A thi•ough 1J. p~o
~__.-,__L~S~O
'LfURSlIAM! + ~~T'~~~~?BlE' EPAYA~IE'/y~ Of Tiu(E~
THIS IS A PURCHASE ~IONEl' ~IORT(.~(. tp t~ ~~a~ P~
~eciu•it~• fo?• the pa~~ment of the pi-omi~sory note of ~~•hich the follo~~•ing is a co~ c~ Rp~;E~ ~~'~IS p~ ~y~~ E~~~,
POII
Instaliment Note and Disclosure Statement ~'~i "0"~~ sj~
~9, 281. 28 _ St Lucie__ Cou nty , Florida
~t`.~n k~t1tL~`t ( 19 7~
F~~r ~'alue Recei~•ed, I, ~~•e or either of uti pr~~mi~e to pay to the order of OUTDOOR RESORTS OF
:~~Ii~:hl('A, I\'C., P. O. Box 1116, Jensen Beaeh, Flor ida, 33457, or an~• other place as k~~~r hereof may
~ir~i~,rnate in ~+•riting, the ~um of Nine thousand two hundred_eiqhty.-one &(9, 28~.. 28 ) Dollars,
~ his .t~m l,ein~,? the Total of Payments referred to in the I1i,closure Statement below, ~vhich includes a FII~'ANCE
~~i{~R(:F. csn the amount financed, pa~~able in-__ ___-9~?- equal consecutiv monthly installments of
' f
~ ` 9_C~, 68 ____each, and the first installment to become payable on the_ ~day of-~Z L~ ~~Q--L~'{
l ~ , and one Guch installment to become due and paS~able on the___ _day of. each succeeding month
~~~~til the ~.hole of said indebtedness (Total of Pa~ments) is paid. In the e~ent of prepayment in full by cash
~ t~t~ture the tinal installment date, the unearned portion of the FI\.~?NCE CHARGE shall be rebated under
~ the Rule of 78'~.
~ In the e~•ent of default in the due and punctual payment of any in~tallment on this :r'ote for a period of
~ thirt~• (30) da~~s, or if an~ statement, representation or ~carrant~• in an~~ application for the credit evidenced
~ t~~• thiti \'ote is found to 1>e iintrue in any material respect, or in the e~~ent THE UNDERSIG:VED, WITHOL'T
TE(E PRIOR «'RITTE\ CONSENT OF THE HOLUER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
F'nR AN~' MORTGAGE R'HICH 13 SECURIT~' FOR THIS \'OTE) OR OTHER«'ISE DISPOSE OF OR EN-
i't':~iBER OR COl'1:~iIT A\'Y RREACN OF THE I~iORTGAGE OR PF.R\ZIT OR SUFFER ANY_ LIEN TO
~:.1"IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
'I'~IE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
e~~idencecl) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shall become immeciiately due and pa~•able at the option of the holder hereof ~~~ithout demand. presentment
~ ~~r notice of any kind. Any failure of holder to exerci~e said option ~hall not constitute a H•aiver of the right
to esercise the same at any other time.
~ Time is of the essence of this ~'ote. In the e~~ent an~• instaliment i~ not paid when due or within ten
da~~s thereafter, the holder may collect, and the undersi~,med a~ree~ to pa~• a late charge on such irtsta~lment in
an amount equal to 5~. of such in~tallment or ~5. ~~hiche~•er i: les,, and in the event this Note is fioliected by
la«• or throu~;h an attorney at law or under ad~ice thereof, the undersi~?ned a~,?ree~ to pa~• all costa~bf collection,
inciudin#.~ reasonable attorney's fees and court costs to the extent prrmitted b~• Flarida la~~•. ' -
' ~u '
~ The undersigned and all endorsers or other parties to this note jc?intl~~ and se~•erall~~ transf~y convey and
~ assi~n to the Holder a sufficient amount of sueh home,tea~l or e~emption as ma5• be allowed, including such
~ homestead or e~emption as may be set apart in bankruptc}•, tc, pa~~ this note in 1 ull, «•ith all cost~of collection,
and d~ hereby direct any trustee in bankruptcy ha~•ing posse~:ion ~f such homestead or exemption .to deliver to
~ p p y y { ~ pa~• the indebtedr~~ evidenced
the Holder a sufiicient amount of ro ert or mone • set a~art a~ e~em ~t to
hereb}•, or an~• renewal thereof, and do hereb~•, jointly and ~e~•erull~•, app~int the lic,ider the attorney in fact for
~ach of them, to claim a?:,• and all homestead exemption~ allv~+-ed h~- la~.•.
:Y~
A first mortgage for the sec,urity of the afoi•esaid indef,tedne~~ is i-et.~ined 1?~~ OGTnOOR RESORTS OF
:~.IiERI('A, INC., on I.ot No.~ that certain Comiominium known aa OLT[1pOR RF.SORTS AT NETTLES
~y I~I.Atii), and on anS• impro~ements, fixtures or after acquired property added thereon, a, shown by plat re-
c~~rded in the Ofi'ice of the Circuit ('ourt in and for St. Lucie ('~~unty. Florida, in Plst Book 16, page 1:1A
thro~iy~h IJ.
' ~ 4 R FACf ~ - i
BOOK ~ .
-