HomeMy WebLinkAbout1991 ~
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~rl MORT AGE ~ ~
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the m~rtg~gor. in consideration of e pri cipal sum specified in the promissory note ereafter descril~ed. re-
~•ci~•ed from OUTDOOB RESORTS OF AMEftICA. INC.. a co ra 'on orga ' ed and existing under the Laws
~~f the State of Tenne.~ee. the Mortgagor. hereby on thi 0 19~
mortgages to the Mortgagee the real property in St. Lucie County, Florida. escribed as:
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Lot No. Q~~in that certain condominium known as OLTTDOOR '
RESORTS OF AMERICA AT NETTLES ISLAND, ns shown by plat
Sti~'' recorded in the Ot1'ice of the Cireuit Court in and for St.~ unty. ~
FV~ ~EO ~ Florida, in Plat Book 16. paSe 1:1A through ld. DiIE pN ~N P~rN~ pF T~~s
M16181E
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~ THIS IS A PURCHASE MONEY MOR'fGA~~i T~ ~~ER ~l.l~ ~is'`~ 1~~Ri!
as security for the payment of the promissory note of which the following is a f~ C~~~
~ER Ppl~f~
~11Ri S~ IUCI~ Cp~ FlA
Installment Note and Disclosure S ate ent _~a
d Fiorida
~850- ~l
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For Value Received. I. W e or either of us prom ise to pay to the order of OLT!'DOOR BESORTS OF
:~~iERiCA. INC. P. O. Box 1116, densen Beach, Flor ida,~3457 or~pyq ther la e as the holder hereof may
~ Sli1C ~/~Ot/Si9N~4: F'`< <'j I'+~T" /`fiii(lOK~j~ r
de~i~nate in writing. the sum of :-~--~1 Dollars.
ti~is sum beinb the Total of Payments referted to in the D~sclosure Statement Uelow. which includes a FINANCE
t'fiARGE on the mount financed. payable in equal consecutive monthly installments of
~_~G~~ ~ d each. and the first installment to become payable on th _.day of- ~ L .
1 ~ and one such installment to become due and payable on the ~ ay of each succeeding month
uy~t~l the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in ful! by cash
~ hefore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of 78's.
ln 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. V~'ITHOL'T~
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
FOR ANY MOBTGAGE WHICH 1S SF:,URITY FOR THIS NOTE) OR OTHERWISE DTSPOSE OF Oft EN-
CUMBER OR COMMIT ANY AREACH OF THE MORTGAGE OR PERMIT OR SUFFEB ANY LIEN TO
E~IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THBOUGH
THE CREDIT EVIDENCED BY THIS '.~10TE or in the event of the incompetency. insolvency (howsoever
evidenced) or bankruptcy of anyone or mare 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 anq kinci. Any failure of holder to exercise said option shall not constitute a v~aiver 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
day s thereafter, the hclder may collect, and the undersigned agrees to paY a late charge on such installment in
an amount equal to 5I of such installment or $5. whiche~er is less. and in the event this Note is cellected by :
laK or through an attorney at iaw or under advice thereof. the undersigned agrees to pay all cosxs of ~collection~
including reasonabie attorney's fees an~ 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 Nolder a sufficient amount of such homestead or exemption as may be allov~ed,' including such -
homestead or exemgtion as may be set apart in bankruptcy, to pay this note in fu11. with all costs of collection.
and do hereby direct any trustee in bankruptcy ~having possession of such homestead or exemption to deliver to
the Hqlder a sufficient amount of property 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 i
each of them. to claim ar;? and all homestead exemptions allowed by law. -
A first mortgage for e sec 'ty of the aforesaid indebtedness is retaired by OITTDOOR RESORTS OF :
AMERiCA, INC.. on Lot No~Q'~that certain Condominium known sa OUTDOOR RESORTS AT NETTLES
ISLAND, 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. Florida, in Plat Book 16, page 1:1A
through 1J. ~ R 22,g ~ ~991
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