HomeMy WebLinkAbout2127 _
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f,~'~k . o e e ve ~Po!v_ ~,~.i re .
rh~~ n~~?~•t~;lgoi•. in cont~derAti n of the princi~xl s~im specified in the prom~ssor~~ nate hereafter descril~ed, re-
~•~•i~•eci irc,m OUTDOOR RF.SORTS OF AMERICA, INC.. a coi-poration org~nized and existing under the Laws
~~f the Stnte of Tennessee~ the Mortgagor, hereby on this Z_ __day of-~RC~-. 19~~.
rn~~rt~,?~~~;es to the Mortgagee the real property in St. Lucie County~ Florida. described as:
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Lot No.~~ 3 __in that certain condominium known as OUTDOOR
RESORTS O AMERICA AT NETTLES ISLAND, as shown by plat
" S~~ recorded in the OftSce of the Circuit Court in and for St. LR~''uunty,
o~~ l~ Florida, in Piat Book 16. page 1:1A through 1J. ~ ok~~,~G.z~
THIS IS A PURCHASE MONEY AtORT(=A(:E-""'r tp ~~kr„~ry;:~ : r ~;~r,.
~l~ B~F Ae,•~. 'u'~ :~F
,ecurity for the payment of the promis.sory note of which the follo~ving is a@t~ ~~i. r;.~ ~Tq,r~
Installment Note ond Disclosure Statement R'~"'~
~'-T'~;,c~ ;~y
8 808.60 St. Lucie County ,~~a
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. ~ Z /~l dR G ~ 19~~1
For Value Recei~ ed. I. ~ce or either of us prom ise to pay to the order of OiJTDOOR RESORTS OF
:~~IERI('A, INC., P. O. Box 1116, Jensen Beach, Florida, 33457, or any othPr place as the hoider hereof may
Eight thousand eight htmdred ~g , gpg , 60 ~ Dollars.
~l~~~i~,rnate in ~vritin~?, the sum of - -
tt~i~ ~um being the Total of Payments referred to in e D~closure tatement below, which includes a FINANCE
t'Ei~RGE on the amount financed, payable in -60- equal consecutive monthly installments of
S*
: 146.81 each. and the first installment to become payable on the~~-day of ~T-,
1~ 7~, and one such installment to hecome due and payable on the-L S
r day of each succeeding month
I~ ;,ntil the ~~~hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
E ~~t~fore the finai installment date, the unearned portion of the FINANCE CHAFGE shall be rebated under
E the Rule of 78's.
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~ In the event of default in the due and punctual payment of any installment on this Note for a period of
tt~irty (30) days, or if any statement. representation or warranfy in any application for the credit evidenced
this Note is found to be untrue in any material respect, or in the event THE TJNDERSIGNED, WITHOUT
"I'1~E PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBEft (EXCEPT
i~'nR AtiY MORTGAGE WHIGH 1S SECURITY FOR THIS NOTE) OR OTHER~yISE DISPOSE OF OR EN-
l'L?MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OA SUFFE~t ANY LIEN TO
N:~IST ON THE REAL PROPERTY PURCHA~SED $Y THE UNDERSIGNED AND FINANCED THROUGIi
'I'IiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
cliie shall become immediateiy 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 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 ~n such installment in
:~n amount equal to 5~~ of such installment or $5, whichever is less, and in the e~ent this Note ia collected by
ri law or through an attorney at law or under advice thereof, the undersiKned agrees to pay a11 costs bf collection,
includinK 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, i~cluding such
homestead or exemption as may be set apart in bankruptcy, ta pay this note in full, a~ith all costs of collection~
and do hereby direct any trustee in bankruptcy having posses~ion of such homestead or exemptiort~ 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 thereof. and do hereby, jointly and se~•eraliy, appoint the Holder the attorney in fact for
each of them, to claim a~ and all homestead exemptions alloN~ed b~ IaH .
A first mortgage for the security of the aforesaid indel,tedness is retained Uy OU'1'DOOR RESORTS OF
:~11F.RI('A, INC., on Lot No.~'~"Y~_'n that certain Condominium known aa OUTDOOR RESORTS AT NET1'LES
iSLANn, and on any improvements, fixtures or after acquired property added thereon, as shown b3 plat re-
~~~~rded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
throu~;h 1J.
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