HomeMy WebLinkAbout0897 .
f ~ ~ r~
~ MORTGAGE ,~.9~~4
~ ~ ~ /C / L_ ~ 2 l~~
;_r-~~ r G l~iy i~, L ,c
the mort~,•a~or. in consideration of the principal sum specified in the promissory note hereafter described, re-
~•e;~-ed from OL"fDOOR RESORTS OF AMERICA. INC., a corpor tion organized and existing under the I.a~~•s
~~f the State of Tennessee, the Mortgagor, hereb~~ on this_ ~~_~~day~ of L~. 19.~-~
,
mortKages to the iiortgagee the real property in St. Lucie Cowrty. Florida. described as:
~ Lot I~o.u _~_~in that certain condominium known as OLJTD008 h-~ ~
- ~ RESORI'S OF AMERICA AT NETTLES ISLAND, as shown by plat ~~zEDSTO ~
recorded in the Of~'ice of the Circuit Court in and for StRF~~'~~e County. ~~~~11 Kp~ _
Florida, in Plat Book 16, page 1:1A through 1J. oN 7• a/
- THIS IS A PURCHASE b10NEY MORTG~R~IyT
o~~' ~N
~.,v~~ ~M Pqy~,
Ax
P?s securit~ ~r the pa~•ment of the promissory note of which the following is~, ~o~ py: ~lfR ~~.1~ ~E °~r~.~ oF r~
~Y "`~~C ~ER IbIT ~TS'~F ~ERn'.
Installment Nore end Disctosure Stotemen~° S~ 'y''-,,rr
S t. Luc ie County ~ida/ '
~ 8,SOS.00- :
~1/1~ ~ ' S~ T i~ is~ ,
For ~'alue Receired, I, v~•e or either of us promise to pay to the order of OUTDOOR RESORTS OF
a~1ERIC I\C., P. O. Box 1116, Jensen Beach. Flor ida, 33457, or any other lace as the holder hereof may
Eight thousand five hundred and f~ve =
de~ifinate in N•riting, the sum of ( ) Dollars, _
this sum being the Total of Payments referred to in the Disclosure tatement below. which includes a FINANCE
('HARGE on the amount financed, payable in -60-___ equal consecutive monthly installments of
~
~ g_~1,_75-- each, and the first installment to become pay able on thP -Z ~ T day of ~
1~1_7
~ and one such installment to become due and payable on the ~ 1 day of each succeeding month
until the whole of said indebtedrre~s (Total of Payments) is paid. In t he even t o f prepaymen t in fu l l by cas h
t~efore the final inctaliment date, the unearned portion of the FINANCE CHAAGE shall be rebated under
the Rule of 78's.
In the e~ent of default in the due and punctuai 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
b~• this ~ote is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOtJ'T
THE PRIOR «'RITTEN CONSEI~T OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
FOft A1Y MORTGAGE ~~'HICH 1S SECURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CL'~IBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PEftMIT OR SUFFER ANY LIEN TO
EYIST O;~' THE REAL PROPERTl' PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT E~'IDENCED BY THIS ~tOTE 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
due shall become immediately due and payable at the option of the holder hereof without demand, presentment
or notice of any kind. An3 failure of holder to exercise said option shali not constitute a waiver of the right
to exereise the same at any other time.
Time is of the essence of this :1~ote. In the event an~ installment is not paid when due or within ten _
~ days thereafter, the holder maS collect, and the undersi~;ned 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 undersiKned agrees to pay all costs of collection, oo ~
including reasonable attorney's fees and court costs to the extent permitted by Florida law. ~
~ -
~ The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
assign to the Holder a suf~icient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of colleci~on.
~ and do hereby dirert any trustee in bankruptcy having posses~ion of such homestead or exemption to deliver to~
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness e~~idenced
~ hereb~, or any renewal thereof, and do hereby, jointly and se~~erally, appoint the Holder the attorney in fact for~
~ each of them, to claim a~:~~ and all homestead exemptions allowed by la~+~. '
~ A first mortgage for the sec~ of the aforesaid indebteciness is retained by OUTDOOR RESORTS OF~
~ A~IERICA, tNC., on Lot No: ~n that certain Condominium known sa OUTDOOR RESORTS AT NETTLES
~ ISL~\D, and on any improvements, fixtures or after acquireci property added thereon, as shown by plat re-
~ corded in the Office of the Circuit~Court in and for St. Lucie County, Florida~ in Pls~t Book 16, page 1:1A
.
= thm~i~h ]J_ - ' ' • • ~ ,
- - _ _ -
-