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HomeMy WebLinkAbout0093 \ P , M O R T G A G E ~.'~l /f EMl_)'_1~ G+~l the mortgagor~ in co~~ tion of the principal sum specified in the romissory note hereafter described. re- ~•ei~•ed from OUTDOOR RESORTS OF AMERICA~ INC., a corpora on organized and existing under the Laws of the State of Tennessee. the Mortgagor, hereby on this~~-~~ay of N , 19 ?y mortgages to the Mortgagee the real property in St. Lucie County, Florida. described as: Lot No.~C~in that certain condominium known as OUTDOOR RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat recorded in the OfTice of the Circuit Court in and for St. Lu~ ty. Florida, in Plat Book 16. page 1:1A through 1J. ~ aN p,~ ~yl~, EIM PAyy~ ~ r~q ~ THIS IS A PURCHASE MONEY MORTGAGT ~r T~ ~1APTER ~1_13~~ P~qp~R~,~ As security for the payment of the promissory note of which the following is a copyt~ ~yq,~ n~ S~ 1~~X Installment Note ond Disclosure Statement ~D- ~ 9. 281~.2$; St . Lucie Countv , Florida ~ ~ ~ - ~ ~3~~/ i_ y ~9~ ; ~ ; Fnr Value ~teceived. I, we or either of us promise to pay to the order of OiJTDOOR BESORTS OF AMERICA. INC.. P. O. Box 1116 Jensen Beach~ Flor ida,~3 45? or n o r place as the holder hereot may Nine thoueand two hundrec~` ~ig~~y-one ~ 9~ 281. 2~ ~11~, designate in writing. the sum of ~~Q, this sum being the Total of Payments referred to in the Discloshre Statement below, which includes a FINANCE CHARGE on the amount financed, payable in '96- equal consecut~_~nonthly installments of ' 96.68-- %t i g each, and the first ir_stallmeqt to become payable on the~-day of~1 h~ ~ N , ~ 19~and one such installment to become due and payable on the ~,~T~ day of each ~ucceeding month ~ until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash ~ i~efore the fina} instaliment date, the unearned portion of the FINANCE CHABGE shaU be rebated under ' the ftule 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 eredit evidenced by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOtIT THE PRI08 WRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL. ENCUMBEB (EXCEPT FOR ANY MORTGAGE WHICH 1S SECURITY FO~t THIS NOTE) OR OTHEBWISE DISPOSE OF OB EN- CUMBEft OR COMMIT ANY BREACH OF THE MOftTGAGE OR PE~tMIT OR SUFFER ANY LIEN TO EXIST ON THE REAL PROPERTY PURCHASED 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 indebfi.edness then due shall become immediately due and payable aL the option of the holder hereof without demand, presentment or notice of any kind. Any failure of holder, to exereise 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 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 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 undersigned agrees to pay a11 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 severally transfer, convey and assign to the Holder a suRScient 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 suflicient amount of property or money set apart as exempt to pay the indebtedness evidenced hereby, or any renewal thereof, and do hereby, jointly and se~~erally, appoint the Holder the attorney in fact for ` each of them, to claim ar~? and all homestead exemptions allov~ ed by law. A first mortgage for the se~rity of the aforesaid indebtedness is retained by OUTDOOB RESORTS OF AMERICA, INC., on Lot No~~n that certain Condominium known as OUTDOOB RESOBTS AT NE'I"fLE5 ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re- corded in the Office of the Circuit Court in and for ~S~ ' County, Florida, in Plat Book 16, page 1:1A throu~h 1J. : . $QQx~,~ ~ ~ > t,:~;~_~ . - - - - - _ . , ~ -