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HomeMy WebLinkAbout0105 - - - . - f---- . - - - ' `T f/ MORTGAGE 28~80 ~ R. Malcolm Tait and $laine Tait his wife ~ the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. re- rei~~ed from OUTDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the Laws of the State of Tennessee, the Mortgagor, hereby on thi~ 21st day of OGtober , 197~_. mortgages to the Mortgagee the real property in St. Lucie County, Florida~ described as: Lot No. 97~II in that certain condominium known as OUTDOOft RESOBTS OF AMERICA AT NETTLES ISLAND, as shown by plat recorded in the Office of the Circuit Court in and for St R4G6N~p unty, ~ L Florida, in Plat Book 16. page 1:1A through 1J. ~x P ~ THIS IS A PURCHASE MONEY MORTG GE r~ ~R ~~8~ ~S~ p~~ As ~security for the payment of the promissory note of which the foltowing is a~lyf~yq,~~r ~ ftp~l~ ~ ST, ~ ~ /7-ic~y Insta~lment Note and Disclosure Stcte~nent ~ ~ g 10 b08 .0~ DOC. SIA+!?S St . Lucie 6ounty , Florida . , ~ixm To Oc tobe r 21, 19 7 3 For Value Received~ I. we or either of us promise to pay to the order of OUTDOOIt RESORTS OF A~IERICA. INC.. P. O. Box 1116. Jensen Beach~ Flor ida, 3452~ or a ot e lace as the holder hereof may Ten thousand six ~iundred e~g'~~ 10 608 .0n de~ignate in writing, the sum of g{~ ( ~ 'I Dollars~ this sum being the Total of Payments referred to in t e I)isclosure Statement below, which includes a FINANCE CHARGE on the amount financed. payable in --96-- equal consecutive monthly installments of S 110.50-- each, and the first installment to become payable on thp lst day of~ril , ~ 19_Z4, and one such installment to become due and payable on the -~s .-_day of esch succeeding month ` until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash ~ t~efore the final installment date, the unearned portion of the FINANCE CHARGE 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 UNDEBSIGNED. WITHOUT THE PftIOR WftITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL~ ENCUMBEB (EXCEPT FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) 08 OTHEftWISE DISPOSE OF OR EN- CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO EXIST ON THE BEAL PROPERTY PURCHASED BY THE UNDEBSIGNED 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 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 $5. whichever is less, and in the event this Note is collected by law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of coliection, including reasonable attorney's fees and court costs to the extent permitted by Florida law. The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such homestead or exemption as may be set apart in bankruptcy,,to pay this note in full, with all costs of collection, and do hereby direct any trustee in bankruptcy h~ving posse.ssion of such homestead or exemption to deliver to the Holder a sufl5cient amount of property or money set apart as exempt to pay the indebtedness evidenced hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for each of them~ to claim ar;~ and all homestead exemptions allowed by law. - A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF AMEftICA, INC.~ on Lot No97 ~I in th$t certain Condominium known sa OUTDOOB RESOftTS AT NE'ITLES ISLAND, and on any improvements, fixture~ 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 Plitt Book 16, page 1:1A th rou gh 1 J. ~ ~OOK rvT.r ( PACE . - s- ~ . ~ ~ ~ ; _ - - - ~ ,