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Home My WebLink About0097 - ~ ~ ~ ~ ~q~ ~.~4 MORTGAGE 1y 0 ~?~~2-k~--1~?---8r'~~~T ~-1 ~S! ~L n.. e~~ R~G.~ r~ ~ , the mortgagor, in consideration of the prmcipal sum specified in the promissory not 1?ereafter described. re- cei~ed from OUTDOOR RESORTS OF AMERICA. INC.~ a corporation organized and existing under the Lawa of the State of Tennessee, the Mortgagor, hereby on thi~~.L-day of h~• ~ 19~~. mortbages to the Mortgagee the real pmperty in St. Lucie County. Florida, described as: ~ Lot No in that certain condominium known as OUTDOOR. RESORTS OF AMERICA AT NEITLES ISLAND. as sh plat recorded in the Office of the Circuit Court in and for St. j#, tY. y Florida. in Plat Book 16 page 1:1A through 1J. ~ THIS IS A PUftCHASE MONEY MORTGAG~ p~~.~,~~~'~~ ~~~M,~,~~4YT p~ As security for the payment of the promissory note of which the following is a coFy:-~'"~ ~/bit~'k7s Installment Note and Disclosure Statement ~ 9, 281. 28 ~ S t. Luc ie County. ~~d~ µ ~ ps ~ ~ ptE .3/ ~.~4 N• 19T~ For Value Received. I. we or either of us promise to pay to the order of OUTDOOR ~tESORTS OF ~;~viERIi.A. Ii+~'C.. P. O- Bo~? 11~i,nJen~~ ~SII~d two ~i~~re~ e~g~ityr BiQe ~ the holder hereof may cle~i~nate in writin~, the sum of &~A~i nn ~ 9, 281. 28~ ~ua~~ this sum Ueing the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE t'NARGE on the amount financed. payable in -96- eq~~ ~onsecutive monthly instaliments of g_9~68-- each, and the first installment to become payable oa the~t~day of- ; 191~, and one such instaliment to become due and payable on the.-~~day of each succeeding month ~ until the ~~hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash ( i~e i~~!•e the final instaliment 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~~• this Note is found to be untrue in any material respect, or in the event THE iJNDERSIGNED. WITHOUT THE PRIOR WAITTEN CONSENT OF THE HOLDEB HEREOF, SHALL SELL, ENCUMBER (ERCEPT FOR ANY MORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OB OTHERWISE DISPOSE OF OR EN- CUMBER OR COMMIT ANY BREACH OF THE MOftTGAGE OR PEBMIT OR SUFFEB ANY LIEN TO EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED TH~tOUGH THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howacever e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness 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 thia Note is collected'.by law or through an attorney at law or under advice thereof, the undersigned agrees to pay all cost~ of collecf~pn, including reasonable attorney's feea and court costs to the extent permitted by Florida law. ~ The undersigned and all endorsers or other parties to this note jointly and severally transf~c, convey and assign to the Holder a suft'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 costnbf collection, and do hereby direct any trustee in bankruptcy having possession of such homestead or exemptionito deliver to the Holder a suti'icient amount of property or money set apart as exempt to pay the indebtednei~8 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 any and all homestead exemptions allowed by law. A first mortgage for the s urity of the aforesaid indebtedness is retained by OUTDOOB BESORTS OF AMERICA, INC., on Lot No.~~i~ that certain Condominium known aa OUTDOOR KESORTS AT NE"TTLES ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re- corded in the 4ft'ice of the Circuit CourE in and for St. Lucie County, Florida, in Plst Book 16. page 1:IA through 1J. ~ ~ R. p. _^-.-n. ` _ Y~ ~ ' . . . _ _ . . _ !r .Ry.r~r:..,~'~~~~ .e ~ t v~ - t;;. ~'s