HomeMy WebLinkAbout0905 i -
~~y MORTGAGE
r 1~n~g i. Pi ~l~Pri nv~S~l e owner
the mortga~oi-, in consideration of the prl~(~ipal sum specified in the promissory note hereafter described. re-
cei~•ed from OUTDOOR RESORTS OF AMERICA, 1NC., a corporation organized and existing under the l.aws
of the St~te of Tennessee, the Mortgagor. hereby on this_ ~ 3.__day of- a~'~ ~C.~----, 19~,
mort g.~es`~ the ~iortgagee the real property in St. Lucie County, Florida. described as: fL~
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PS
Lot No.1$_~~-in that certain condominium known as OUTDOOR --..:;N~
RESORTS OF AMERICA AT \ETTI,ES ISLAND, as shown by plat
- recorded in the Office of the Circuit Court in and for St. L4i~~,~ounty.
Florida. in Plat Book 16. page 1:1A through 1J. oN ~ ~
• ~ THIS IS A PUftCHASE 1110NEY 11iORTGA('~lE "'"'~+r to ~MTMr~~B~ ~H ~R~~.
r~s sec~it~ for the pa?~ment of the promissory note of which the follo~ving is a C~: ~
R~!-t~ pf'"~~'a~~
f~4~'E~
~ _ ~ ~~'?Ct.yT ril,j~r~~,;,~~?S ~ 1y~Of=r~ry
Installment Note and Disclosure Statement
• ~ ur ~E ,Q
G 9,180 . 00 S t. Luc ie County , Ffor~da
November 23, lg 73
For Value Recei~ed, I, w•e or either of us promise to pay to the order of OUTDOOR RESOBTS OF _
A1~iERICA, IIv'C.. P. O. Box 1116. Jensen Beach, Flor ida. 33457~ or any other place as the holder hereof may ;
de~i~nate in ~.•riting, the sum of Nine thousatld otle t~undred eighty Dollars,
_ et~.~.-_
this sc~m being the Total of Payments referred to in the ~isclosure Statement below. which includes a FINANCE
' C'HARGE on the amount financed, payable in -60- equal consecutive monthly installments of
.
~ 153 .00-- each, and the first installment to become payable on the lSt day of February
f 19~~!-, and one such installment to become due and payable on the- lst day of each succeeding month
t~ntil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash -
1~efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of 78'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
t~y this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, VVITHOUT
THE PRIOR ~'VRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBEB (EXCEPT
FOR ANY MORTGAGE ~'VHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT O~t SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDF.RSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the e~~ent of the incompetency, insolvency (howgoever
evidenced) or bankruptcy of anyone or more of the andersigned, 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 optian 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 undersi~;ned a~reeG 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 event this Note is collected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
includin~ reasonable attorney's fees and court costs to the estent permitted by Florida law.
- - The undersigned and all endorser~ or other parties to this note jointly and severally transfer, convey and
assign to the Holder a sufficient amount of such homestead or exemption as may be ailowed. includin~ such
- homestead or exemption as may be set apart in l~ankruptcy, to pay this note in full, with all costs of collection,
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
~ the Holder a suflicient amount of property or money set apart as exempt to pay the indebtedness e~ idenced
~ hereby, or any renewal thereof~ and do hereby, jointly and se~•eraliy, appoint the Holder the attorney ~n fact for
each of them, to claim at and all homestead exemptions allo~+•ed by law.
~
A first mortgage for t83~i urity of the aforesaid inc~ebtedness is retained by OUTDOOR RESORTS OF
~ AMERICA, INC., on Lot No~ ~n that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
ISLAND, and on any improvements, fixtures or after acyuired pmperty added thereon~ a.g shown by plat re-
corded in th ~ Office o~ the.C~ircuit Court in and for St. Lucie County. Flor t Book,-~„6,~age 1:1A
through 1J: - 800K~ PAGf t~U , i'
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