HomeMy WebLinkAbout1813 ~ ' ~ ~ 2845i15 ;
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TF~t, murtgaKor. i consideration of the principal sum speci ed in the promi: ry note hereafter de.scr' ~ed, re-
~~c•i~•ed fmm OU DOOR RESORTS OF AMERICA, 1NC., a corporation orga ~zed and existi under t e Laws
~~f the State of Tennes,ec~ the Mortgagor, hereby on this_L_1___day of__ ~ 1c~'vL_~ . 19~ '
the real ro ert~ iii St. Lucie Coifnt~•; Florida, desc-~ as:
m~~i t~,~t~,e~ tc~ the 31ortgugee P .
I.ot No._ --in that certain condominium kno~rn as OUTDOOR
ppC STA:~s RESORTS OF AMERICA AT VETTLES ISI.AND, :?s shoHn by plat
Tp recorded in the Ofhce of the Circuit Court in and for St. L~acte Count~ ,
~X~ Florida. in Plat Book 16. page 1:1A through 1J.
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THIS IS A PURCHASE ,IIONEY \IORTGAt:E
a. .ecurit~• for the pa~~ment of the promissory note of which the following is a copy:
instaliment Note and Disclosure Statement
9,612 • 48 S t. Luc ie County , Fiorida
~v ~ 1T 19~ '
F~?r Value Recei~•eci, I, ~~'e or either of us prumise to pay to the order of OUTDOOR RESORTS OF
:r~tI:RI('A. INC., P. O. Box 1116 Jensen Beach. Florida 33457, or an~~ other place as the holder hereof may
N~ne thousand s ix ~undred twe lve 9, 612 . 48 ~~~ars.
~i~~~i~,~nate in ~s~ritin~;. the sum of _-i~_l~,g/}QO _ ( )
t}~i~ .um t?ein~,• the Total of Payments referred to in the Disclosure Statement below. ~vhich includes a FINANCE
~~1I~RGF, on the amount financed. payable ir~__ ~96- _ equal consecutice monthly installmertts of
,
: 1QQ .13 __-each, and the first instaliment to t,ecome payaUle on the ~--day of- ~
; ] ~ 7~, and one such installment to become due and payable on the-___~-day of each succeedi g month
; ~u~til the ~rhole of said indebtedness (Total of Payments) is paid. In the event of prepa~~ment in full by cash
' :~~~fc?re the final installment date, the unearned portion of the FIi`ANCE CHARGE shall be rebated uncier
i
~ ?he Rule of i8's.
~ In the e~ent of default in the due and punctual payment of any installment on this Note for a period of
tl~i~•ty (30) i~a~s, or if any statement, representation or «arranty in an3• application for the credit evidenced
t~~~ this Note is found to be untrue in an3 material respect, or in the e~~ent THE UNDERSIGNED. WITHOUT
l'EIE PRIOR «'RITTEN CONSENT OF THE HOLDER HERE4F, SHALL SELL. ENCUMBER (EXCEPT
f~'()R A:~Y MORTGAGE WNICH 1S SECURITY FOft THIS NOTE) OR OTHER~'VISE DISPOSE OF OR EN-
('L':~iBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
E~IST ON THE REAL PROPERT~ PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
'I'tIE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
c~~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
clue shall become immediately due and payable at the"option of the holder hereof without demand. presentment
~~r 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 e~ent anS installment i~ not paid when due or within ten
cia~-s thereafter, the holder may collect, and the undersi~?ned agrees to pay a late charge on such installment in
:~?i amount equal to 5~4 of such installment or $5. whiche~~er is le~s, and in the e~ent this Note is collected by
_ la~c or through an attorney. at la~ or under advice thereof, the undersi~;ned aKrees to pay all costs of collection,
including reasonable attorney's fees and court costs to the extent permitted b~• Florida law.
~ The undersigned and all endorsers or other parties to this note joentl~• and se~erally transfer, convey-and
~ a~5i~.?n to the Holder a sufficient amount of such homestead or exemption as may be allowed, ~ncluding such
~ homestead or exemption as may be set apart in bankruptc~•, to pa}~ this note in full, ~~•ith all cost~ of collection,
~ and do herel~y direct any trustee in bankruptcy having posse.~ion of such homestead or eremption to deliver to
~ the Holder a sufficient amount of property or money set apart a~ exempt to pa} the indebtedness evidenced
~ hereb~•, or any renewal thereof. and do hereby, jointly and se~•erall}•, appoint the Nolder the attorney in fact for
each of them, to claim a~ and all homestead exemptions allo«•ed b~• la~c. _
~ A first mortgage for the s rity o[ the aforesaid indel,tecl~~e,~ is retainecl i~~• OUTDOOR ~tESORTS OF
:~:~tERICA, 1NC., on Lot No.~~C~n that certain Condominium known aa OLtTU00R RF.SORTS AT NETTLES
iS[,Atii), and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
cordecl in the Office of the Circuit Court in and for St. Lucie ('ounty. Florida, in Plat Book 16. page 1:1A
J throu~,?h 1J. 0 R ~p
800~~+~0 PAGE VV~7
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