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HomeMy WebLinkAbout2131 Y t~ . ~ ~ ~ - , ~ M O R T G A G E 284'708 Gerxrd J. Johnson & Rosemary B. Johnson ~ the mnrtgago: ~ in consideration of the principal sum specified in the promissory note hereafter described. re- cei~~eci ~from OLTTDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the I.aws ~?f the State of Tennessee, the Mortgagor, hereby on this lOth day of February ~ 1g 74 ~ mortbages to the Mortgagee the real property in St. Lucie County, Florida, described as: Lot No.ll~_in that certain condominium known as OUTDOOft ~ pec. '~.~~p~ RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat ~~xEA 1~ recorded in the Of~ice of the Cireuit Court in -and for S~ Lu~ CountY. ~t111~ ~ Florida, in Plat Book 16. page l:lA through 1d. ~~„F~ QYIr - THIS IS A PURCHASE MONEY MORTGA~~ ~'r~,~~ m p~~ . p As security for the payment of the promissory note of which the following is a ~~P ~j j~ ~RSn t,~ ~ ly"~~ . . Installment Note and Disclosure Statemen~"R ~~`~T ~ S~~`` 10,608.00 St. Lucie Coun~y ~,~+id~da~ February 10 , 19 74 For Value Received, I, w e or either of us prom ise to pay to the order of OUTDOOIt RESORTS OF a~fERICA. 1NC.. P. O. Box 1116. Jensen Beach. Florida~ 33457. or any other place as the holder hereof may de~i~;nate in writing, the sum o~'Pn thoLand s~x himd~pd eight 00/10p (7~6~-0(~ Dollars, this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE ('HARGE on the amount financed. payable in -96- equal consecutive monthly instailments of ; ~ ~ 110 , SO each, and the first installment to become payable on thP lst _day of ~y I 19 74 , and one such installment to become due and payable on the lst day of ea~ch succeeding month I ~intil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash E t,efore the 6na1 installment date, the unearned portion of the FINANCE CAABGE shall be rebated under ~ the Rule of 78'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~y this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT THE PRIOft WBITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (ERCEPT FOR ANY MO~tTGAGE WHICH 13 SECURITY FOB THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- CUMBER OR COMMIT AI~Y BREACH OF THE MORTGAGE OR PE~tMIT OR SUFFER ANY LIEN TO EXIST ON THE REAL PROPERTY PUACHASED BY THE UNDERSIGNED AND FINANCED THROUGH TNE 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 aL 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 J of such installment or $5. whichever is less. and in the event this Note -is coUected by law or t hroug h a n a t t orne y at law or under advice thereof. the undersigned agrees to paY all costa 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 ~ assign to the Holder a sufi'icient amount of such homestead or exemption as may be allowed, ~ncluding such ~ homestead or exemption as may be set apart in bankruptcy, to pay this nate in full, with aIl costs of collection. and do hereby direct any trustee in bankruptcy having possession of such homestead or exemptioR~to deliver Lo the Holder a sufl~cient amount of property or money set apart as exempt to pay the indebtedu~ss evidenced hereby~ or any renewal thereof, and do hereby, jointly and severally. appoint the Holder the attor~ey in fact for each of them, to claim any and all homestead exemptions allowed by law. A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOUR KESORTS OF AbiERICA, INC., on Lot No1164 ~that certain Condominium known as OUTDOOR RESORTS AT NETTLES ISLAND. and on any improvements, fixtures ar after acquired property added thereon, as shown by plat re- a corded in the Oflice of the Circuit Court in and for St. Lucie County. Florida, in Plat Book 16, gage 1:1A ~ through 1J. 600K~r~rV PACE~~~~ ~ - - - - - _ - ~ ~ ~ ' " ~~'~'=r ~ . Q~,~ a _ .