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HomeMy WebLinkAbout0085 / ~ ` MORTGAGE 2~~~.s5 , ~/3 /2 ~~S ~ v s ri p~i~2 ~I~c. V, A vs ?/~1/ the mortgagor~ in consideration of the principal sum specified in the promissory note hereafter described. r~ c~i~~ed frcm OiJTDOOR RESORTS OF AMERICA, ING., a corporation organized and• existing under the Laws of the State of Tennessee. the Mortgagor, hereby on this '~~-S Tda`y of • I~~ mortgages to the Mortgagee the real property in St. Lucie County, Florida. described as: Lot No~_`~-~l n that certain condominium known as OUTDOOR ~ RESORTS OF AMERICA AT NET"fLES ISLAND, as shown by plat - recorded in the Office of the Circuit Court in and for St. Lucie County. , Florida, in Plat Book 16, page 1:1A through 1J. R::c_~n~ ~ Z ~ THIS IS A PURCHASE MONEY MOSTGAG ~n P"v~~~ ~RSUAMT TO ~ ' •IL'!. c .r ~ ~ OF T/U(~ As security fQr the payment of the promissory note of which the following is a copy: ti~~l•1~. ,~TS='•~ PNo~~p~r . ~ = ~ Installment Note and Disclosure Statemen`~ ~"~D1R ~ ~ ~ ~%j~' S t. Luc ie County _~o~ ~ z 1Qs 6081. 00_ - ~ . 4 ~m ~ ~ ~ ~ 19~ o~~ No~ For Value Received~ I~ we or either of us promise to pay to the order of OUTDOOB BESOftTS OF A1iERICA. INC.. P. O. Box 1116, Jensen Beach. Flor ida. 33457. or any other pl~~~~~ holder hereof may ~'Pn thousand s~ h~m_c_l~d S~~i & (10.6,_,_ 08.00~ Do]lars, designate in writing. the sum of ~ this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE CHARGE on the amount financed, payable in -96- equal consecutive monthly inatallments of g 110.50 each, and the first installment to become payable on the ~S~ day of.~p~~ L , i ~ 19_ ~ yand one such installment to become due and payable on the~~ / day of each succeeding month until the whole of said indebteciness (Total of Payments) is paid. In the event of prepayment in full by cash ~ t~efore the fina} installment date, the unearned portion of the FINANCE CH A ft G E a h a l l b e re ba t e d un der 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 bc this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT FOft AI3Y MOKTGAGE WHICH 1S SECURITY FOR, THIS NOTE) OR OTHEAWISE DISPOSE OF OR EN- CUMBEB OR COMMIT ANY BREACH OF THT MORTGAGE OR PERMIT OR SUF`FER ANY LIEN TO EXIST ON THE REAL PftOPEftTY PUBCHASED BY THE UNDERSIGNED AND 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 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 event any installment is r.ot 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 instailment 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 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 jointiy and severally transfer, convey and assign to the Holder a sufi'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 collection~ ~ and do hereby direct any trustee in bankruptcy having possession 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 evidenced hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for each of them, t~ claim a~ and all homestead exemptions allowed by law. A first mortgage for the secu~of the aforesaid indebtedness is retained by OLJTDOOB RESORTS OF~ AMERICA~ INC., on Lot No11 y~n that certain Condominium known se OUTDOOR RESORTS AT NETfLES ISLAND, and on any improvements, fixtures or after acquired property added, thereon. as shown by plat re- corded in the Office of the Cireuit Court in and for St. Lucie County, Florida~ in Plat Book 16, page 1:1A through 1J. ~ " ` - - _ - w . , - ~ ~ 2 , - , ; ~ , G , , ~ ~ _ _ _ . ~ _ _