Loading...
HomeMy WebLinkAbout0936 ~I J~I I~ ' ~ , ~ MORTGAGE _ ~ Fred W. Stock & Helen M. Stock (his wife) , tha murtgugor. in consideration of the principal sum specihed in the promissory note hereafter described. re- cei~•eci from OUTDOOR RESORTS OF AMERICA, INC.. a corporation organized and existing under the Laws of the State of Tennessee, the D~ortgagor. hereby on this 25th day of JaIIUary ~ lg 74 ~ liortgages to the 1~Iortgagee the real property in St. Lucie Coanty. Florida, described as: 947/II Lot No. in that certain condominium known as OUTDOOR, RESORTS OF AMERICA AT NETTLES ISLAND, as s own by plat ~ a~,. recorded in the Office of the Circuit Court in and for St. ~ unty, '~'~x+' ~r ~i~~ Fo To ps Florida, in Plat Book 16. page 1:1A through 1J. Gyy ~4C . ~ R~'~ ~iYr ~pp THIS IS A PURCHASE MONEY MORTGAGE ~ v ~ '~s As security for the payment of the promissory note of which the following is a~ ~I~R ~il~P ~ ~')IPI~ jlT ~Fa ,3)~,~~' '~Ct~~ ~ T~ 1nstallment Note and DisclosureStatement "p"~r °~19,'~~. ~ 8,505.00 St. Lucie County ~~da/ January 25, 1974 19 74 For Value Received. I, we or either of us promise to pay to the order of OUTDOO~t RESORTS OF A~tERICA. INC.. P. O. Box 1116. Jensen 'Beach. Flor ida. 33457. or any other lace as the holder hereof may desi nate in writin~. the sum of Eight thousand five hundred and ~ive ~8, 505.00~ Dollars. ~ . this sum heins the Total of Payments referred to in the Disclosure Sta ement below~ which includes a FINANCE CHARGE on the amount financed~ payable in -60- equal consecutive monthly installments of ~ 141.75-- each. and the first installment to become payable on the lst day of April 19 74 , and one such installment to become due and payable on the lst day of esch succeeding month untii the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash ~ before the final installment date~ the unearned portion of the FINANCE CHAAGE shall be rebated under the 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 UNDERSIGNED, WITHOUT THE PRIOR ~VRITTEN CONSENT OF THE HOLDER HEREOF~ SHALL SELL. ENCUMBER (E?~CEPT FOR ANY MORTGAGE VVHICH 1S SECURITY FOR THIS NOTE~ OR OTHER~VISE DISPOSE OF OR EN- CUMBER OR COM;ViIT ANY BftEACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO I EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED A11TD FINANCED THROUGH THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever evidenced) 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 kin~. Any failure of holder to exercise said option shall not constitute a waiver of the right to exercise the same at any othar time. Time is of the essence of this Note. In the event any instaliment 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 instaliment or ~5, whichever is less. and in the event this Note is collected by ~r th:oLgh a: attorney at law or ui~uer advice thereoi, the undersigned agrees to pay all costs of collection, 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 se~erally transfer~ convey and assign to the Holder a sufficient amount of. such homestead or exemption as ma~/ be allowed, including such homestead or exemption as may be set apart in bankruptcy, 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 exemptian to deliver to tne Holder a sufficient amount of property or mone3 set apart as exempt to pay the indebtedness evidenced hereby, or any renewal thereof, and do hereby. jointly and severally, appoint the Holder the attorney in fact for = { each of them, to claim at: ~ and al~ homestead exemgtior.~ allo~~~ed b3~ la«. = s A f rst mortgage for ,SI urity of the aforesaid indebtedness is retained ~y OUTDOOR RESORTS OF ~ ~~tiIF:P.ICA, INC., on Lot I~a9 ~~n that certain Condominium known ae OL'TDOOR RESORTJ AT NE'f'I'LES ~ IS~~:~\ D, anc~ on any improvements, fixtures or after acquired property add~d thereon, as shown by plat re- corded in the Uffice of the Circuit Cou.t in and for St. Lucie County, Florida, in Pla~ Book 16, page 1:1A throu~;i? 1J. ~~~jo _ 17 _ 7~ / ~ ~ a~ ~00~226 0 ICf ~ _ - - T._~ _ . - .