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HomeMy WebLinkAbout2181 ' r~ . - ; r, ~ - . j M 0 R T G A G E 28~4'742 ~ ~ r4v1 i7 Lb - rt ~ d LU ch~ mort~;akor. in consideration of the principal sum spe~.ified in the promissor~~ note hereafter described. re- ,~~~i~~ed fi~n~ OliTDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the Laws ~~f the State af Tennessee. the Mortgagor~ hereby on thi~~~ day of T~~ . 19~ n~~~rtg:~~?e~ tu the Diortgagee the real property in St. Lucie County. Florida. described as: Lot No.~~_s"=in that certain condominium known as OUTDOOR RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat tt~M~ recorded in the Ofi'ice of the Circuit Court in and for St. Lu e County, S~~ F'lorida, in Plat Book 16, page 1:1A through 1J. ~,O~rEb ~t~~~~~ ~ THIS IS A PURCHASE MONEY i110RTCAt~I~ N~ 1C ~M. Z security for the payment of the promissory note of which the follo~~ing is a co ~r ~~~~~1~.*~,;~~RO~ tarQ ~ ~r Installment Note and Disclosure Statemen ~1°~'R ~"D,~~ 1~•~''`~'r• ~ S~ ~t~ L~~, ~ ~o ~ 8 ~ o 19''/ T For Value Recei~•ed. I, tie or either of us promise to pay to the order of OUTDOOR RESORTS OF :1JIERI('A, INC., P. O. Box 1116. Jensen each, Flor~a, 3~7. or any other place as the holder hereof may E~cs'NT ~hiO~~~-~ ~~I~ ('~~iv/JrtF~ ~ ~r . ~ Dollars, ~l~~~i~?nate in ~tiritin~. the sum of ' t}~;, s~~m bein~* the Total of Payments referred to in the I7isclosure tatement below. which includes a FINANCE ~ ~ ('}I~RGE on the amount financed. paysble in equal consecutive monthly ins allments of . ,/~(o ~ O~ each, and the first installment to become payable on theL--~-day of L" . I 1~7 and one such installment to become due and payable on the-_~ ST day of each succeeding month until the whole of said indebtedness (Totai of Payments) is paid. In the event of prepayment in full by cash _ ?~etore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebaterl under f the Rule of ?8's. ' ( In the e~ent of default in the due and punctual payment of any installment on this Note for a period of tl~irty (30) days, or if any statement, representation or warranty in any application for the credit evidenced E~~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT TF~E PRIOR VVRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT s ~'nR AN~' MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OT~IERWISE DISPOSE OF OR EN- ~'tiMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO F..l'IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH "I'EIE 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 d~~e 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 event any installment is not paid when due or within ten ciays thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in ~ :in amount equal to 5 i~ 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 collection, k; 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 transf~r. com•ey an ~ a~si~*n to the Holder a sufticient amount of such home~tead or exemption as may be allowed, including such ~ homestead or exemption as may be set apart in bankruptcy, to pay thi~ note in full, with all costs of collection, ~ ~nd do hereby direct any trustee in bankruptcy having possession of such homestead or e~cemptioA~ to deliver to the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced ~ hereb}•, or any renewal thereof, and do hereby, jointly and se~erall~. appoint the Holder the attoflney in fact for each of them, to claim ar~~ and all homestead exemptions allo~ced b3~ law. ~ ~ A first mortgage for the seeur ty of the aforesaid indebteclness is retaineci Ly OUTDOOR RESORTS OF ~ that certain Condominium known sa OUTDOOR RESORTS AT NETTLES r~~1ERICA, INC., on Lot N~~ ISI.AND, and on any improvements, fixtures or after acquired property added thereon~ as shown by plat re- corded in the Office of the Circuit Court in and for St. Lucie County, Ftorida, in Plat Bo~k 16, page 1:1A through 1J. ~ _ - - - - - - ~ - ~ , ; ~ ~ ~ . ~ k ~ r~~. ~ .,r"~` ` , _ ' ~ ~ - . ~ ~ ~ ~ _ . . ~ , - _ .