HomeMy WebLinkAbout1355 - - - - ~r
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MO AGE
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;he mort~;agor. in considerat~on of the principal sum specified in the promissory note hereafter described. re-
~~ei~~eci from OUTDOOR RESORTS OF AMERI(:A. INC.. a coivporxtion org~ni and existing under the Laws
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c~f the State of Ten~iessee. the Mortgagor, hereby on this~~
~ay of C~y~'`~ 19 , ;
m~?rtgage~ t~ the Diortgagee the real roperty in St. Lucie County. Florida. descriUed as: s
~ Lot No.L~~ __in that certain condominium known as OUTDOOR
' RESORTS OF AMERICA AT 1`ETTLES ISLAND. as sh~~~~plat
recorded in the Ofl'ice of the Circuit Court in and for St. nty.
Florida, in Plat Book 16, page 1:1A thruugh 1J. pU~FC~~~~~/;~ ?
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THIS IS A PURCHASE 1iONEY ~lORTGAGE To ~Mavc,B~ ~N P~r,y ~
~lfR ~1.~ E Pf fM OF i
T
As security for the payment of the promissory note of which the following is a c~f:~j~~~~ Pol~ ,~~S~~~[ pP~pER
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~ Installment Note and Disclosure Statement Q°'~'~ ~'y''- '
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S I. ~~ie .o mtv , Flor~a ~
~ 9,281_ 8 _
o~~'n,x~o~ ~ s~ ~u~~/ ~ 3 ~s~
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For Value Received, I. w e or either of us prom ise to pay to the order of OUTDOOR RESO~tTS OF ;
~~iERICA. INC.. P. O. Box 1116N~ensen Beach Flor ida. ~3457 or~ny o~tre y
lone the holder hereof may
ne thoue,~nd two unc~re ei nt 9~ 281. 28 ~~~a,~
de~ifina.e in writing. the sum of ~-~/-~{}f}~-- - ~ ~ •
thi~ ~um being the Total of Payments referred to in the r)~sclosure Statement below. which includes a FINANCE ;
~'~~ARGE on the amount financed. payable in -96- equal consecutive monthly ins lments of ~
e ~ `ST /~C , i
,___Q~._ 8-- each, and the first installment to become payable on th day of ~
j 1~~ . and one such installment to become due and payable on the--~day of each succeeding month :
j t>>~til the whole of said indebtedness (Total of Payments) is paici. In the event of prepayment in full by cash
~ t~efore the fina! installment date, the unearned portion of the FIVANCE CHARGE shall be rebated under
i
€ 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 ~
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~ thirty (30) days~ or if any statement, representation or warranty in any application for the credit evidenced ~
1~~~ this Note is found to be untrue in any material respeet, o: in the event THE LTNDEBSIGNED, WITHOUT
~ "1'H~: E'HIUR WRI'I`fiEN CONSENT OF THE HOI.DER HERF.OF, SHALL SELL~ ENCUMBER (EXCEPT
~ FOR ANY MORTGAGE WHICH 1S SECUftITY FOR THIS ~TOTE) OR OTHERWISE DISPOSE OF OR EN-
('CJMBER OR COMMIT ANY RREACH OF THE MORTGAGE OB PEftMIT O~t SUFFER ANY LIEN TO i
E~IST ON THE REAL PROPERTY PUftGHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE 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 ent~rg remaining indebtedness then
d~ie shall become immediately due and payable ai the option of the holder hereof without demand, presentment
or notice af any kind. Any failure of holder to exercise said option shail 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 any installment is not paid when due or within ten
clays thereafter, the holder may collect, and the undersigned agree~ to pay a late charge on such installment in
an amount equal to 5 J of such installment or $5, whiche~•er is le.ss. 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,
including reasonable attorney's fees and court costs to the extent permitted by Florida law. `
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~ The undersigned and all endorsers or ~ther parties to this note jointly and severally transfer. convey and t
assign to the Holder a suffi'icient 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. €
and do hereby direct any trustee in bankruptcy having posse~sion of such homestead or exemption to deliver to
the Holder a suf~'icient amount of propert~ or maney set apart as exempt to pay the indebtedness evidenced ~
hereby. or any renewal thereof. and do hereby, jointly and se~erally, appoint the Holder the attorney in fact for '
each of them~ to claim a: and all homestead exemptions allow•ed by law.
A first mortgage for the s urity of the afore.said indebtedness is retained by OiJTDOOR BESORTS OF
AMERICA, INC., on Lot No.~~~~"'n that certain Condominium knownaa OUTDOOR RESORTS AT 1~iE1TLES
I~T.'.NP, and on any improvements, fixtures or after acquired pmperty added tt?ereon, as shown by plat re-
. .n thP Office of the Circuit Court in and for St. Lucie County, F:orida, in Plat Book 16, page 1:1A
.j~.h 1.1. SGC!S2?9 PAGE1354
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