Loading...
HomeMy WebLinkAbout0101 ~ M O R T G G E , . 28~~ ~ C ~ the mortgagor, in consideration of he principal sum specified in the promissor3• n e hereafter described. re- cei~~ed from OUTDOOR RESORTS OF AMEftICA. INC., a corporation organiz and existing under the Laws of the State of Tennessee, the Mortgagor. hereby on thia~day of 19.~ ~?ortgxge~ to the Mortgagee the real property in St. Lucie County. Florida~ d bed as: Lot No: S~ ~n that certain condominium known as OUTDOOft RESOItTS O AMERICA AT NETTLES ISLAND, as shown by plat • • recorded in the Office of the Circuit Court in and for ' County.~? Florida, in Plat Book 16. page 1:1A through 1J. ~ qASS ~~~s1e ~p p~~~ 0? ~ THIS IS A PURCHASE MONEY MORTGAG~ T~ ~~f As security .for the payment of the promissory note of which the following is~~~pjq~R ~AOR~ ~~~~1~ . ST. l Instaliment Note ond Distlosure Statement ~0~ ~ ~~~L ~R , pu,~ Florida . ~IpitY1L N07E 19~ For Value Received~ I, we or either of us promise to pay to th rder of OiJTDOOR ItESOBTS OF A`iERICA, INC., P. O. Box 1116 Jensen Beach, Flor ida 334 o an ther place as the holder hereof may N3.ne thousand two fiun~~~c~ eiyg ty-one ~ 9~ 2g1. 2~ Dollars, desifinate in writing. the sum of ~c--~$~ this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE CHARVE on the amount financed, payable in -96- equal consecutive monthly installments of i ~ 96.68-- each, and the first installment to become payabie on the-[-~! day of . E 19~, and one such installment to become due and payable on the~~day of each succeeding month i until the whole of said indebtedness (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 CHAftGE 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 PRIOB WftITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT FOR ANY MORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OR OTHEftWISE DISPOSE OF OR EN- CUMBEft OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft 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 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 exereise said option shall not constitute a waiver of the right to exercise the same at any other time. 15me 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 ~ 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 agreea 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 severally transfer, convey and a.ssign to the Holder a sufficient 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 sufi'icient 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. to claim si:~~ and all homestead exemptions a11oH ed by law. A first mortgage for th~e.y'; ec~ ity of the aforesaid indeUtedness is retained by OUTDOOR ftESORTS OF AMERICA~ INC., on Lot No.-~ o~~'fn that certain Condominium known ua OUTDOOR BESORTS AT NETTLES ISLAND. a~d on any improvements, fixtures or after acquired property added thereon, as shown by plat re- corded in the Ofi'ice of the Circuit Court in and for St. Lu ' , Florid , in Plat Book 16, page 1:1A thros~~,rh 1J. - 8 QK~~~ ~ . : _ . . . - - - - - - _ _ _ _ ~ 5.~ ~ ~ ~ ~ ~ .