HomeMy WebLinkAbout2123 - - ~ 284'702
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MORTGAGE
~NC _ rC a e~- , a c cf/a~C~r 7~ ,
the mortgagor- , i n c o n sidera ion of the principal sum specified i t
he promissory no te herea f ter d e s
c r i b e d, r e-
rei~•ed from OUTDOOR R E S O R
T S O F A M E R I C A. I N C.. a c o r
p o r a t i o n o r ganized and existin g under the Laws
~~f the State of Tennessee, the Mortgagor, hereby on this~-day of ~e~~`'vd y 19~.
mortgages to the Mortgagee the real property in St. Lucie County, Florida. described as:
Lot No.~~in that certain condominium known as OUTDOOft
. RESORTS OF AMERICA AT N~.'TTI.ES ISLAND, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie County,
" F7orida, in Plat Book 16. page 1:1A through 1J. REC~ryryEp ~
. D
• ~ ~ OtJ ~N PAYM~'.
THIS IS A PURCHASE MONEY MORTGAGE~~r~ss ~~kr,U,~~1eiE PE?~S n~ T,~'s
As security for the payment of the promissory note of which the following is a copy: ~~ER 71.1~. `~`b°ER~1r,
~nitw~
~s
Installment Note and Disclosure Stateme`n~`~f" ~"~"R ~ w~~ ~
c 9 180 .00 ~ St . Lucie Cotmty ,~orida
~ = ~ fe~i~- v1 ~ r is~y
For Vulue Received, I, we or either of us promise to pay to the order of OUTDOOR RESO~tTS OF
?~~iEftICA. INC., P. O. Box 111~ines t~?ou
aiZd ~ on a~h~dfed8e~.g~_ty place as the holder hereof may
decignate in writing. the sum of fti nO~lOQ ~9,180.00 ~~pars,
ihis sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
C'HARGE on the amount financed. payable in -60- equal consecut~jve monthly installments of
153 00 ST
'I each. and the first installment to become payable on th~ I -day of .
I. 19 and one such instaliment to' become due and payable on the T rr day of each succeeding month
~ uiitil the whoie 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 CHAAGE 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
t~~~ this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITIiOU'f
THE PRIOR WRITfEN GONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEA (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHEftWISE DISPOSE OF OR EN-
CUMBER OR COMMIT Al~`Y RBEACH OF THE MORTGAGE OR PERMIT OA SUFFEB ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENC~D 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 jn the event this Note is collected by
r,~ law oi• through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of col ection,
~ including reasonable attorney's fees and court costs to the extent permitted by Florida law. ~;a
~y ~
~ The undersigned and all endorsers or other parties to this note jointly and severally transfer. con~•ey anci~
~ assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
f homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of collection, ~
~ ar.d do hereby direct any trustee in bankruptcy having possession of such homestead ~r exemption to deliver to ;
- the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced ;
hereby, or any renewal t}iereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
each of them, to claim a~ and all homestead exemptions allowed by law.
A first mortgage for the security of the aforesaid indebtedness is retained by OLJ1'DOOR RESORTS OF
~ AMERICA, 1NC., on Lot No.~~!z.~~r.~n that certain Condominium known ae OUTDOOR RESOftTS AT NETTLES
~ ISLAND, and on any improvements. fixtures or after acquired property added thereon, as shawn by plat re-
~~5 corded in the Office of the Cireuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
; throu~h 1J: ~ ~
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