HomeMy WebLinkAbout0679 - ~8'7g97 M O R T G A G E
~~~4~ Patriek .7 ,arofalo & Nao i Garofalo (his Wife) ~
the mortgagor. in consideration of the principal sum specified in the promissory note hereafter described. re~
cei~•ed fmm OUTDOOR RESORTS OF AMEAICA, INC.. a corporation organizcd and existing under the Laws ~
of the State of Tennessee, the MortgaSor, hereby on this lst day of September ~ lg 73 ~ ~
mortgages to the Mortgagee the real property in St. Lucie County, Florida. described as: ;
t
Lot No ~b LT-T- in that certain condominium known as OiJTDOOR
RESORTS OF AMERICA AT I`TETTLES ISLAND, as shown by plat
recorded in'the Office of the Circuit Court in and for St. Lucie Countq.
Florida, in Plat Book 16. page 1:1A through 1J.
. THIS IS A PURCHASE AIONEY MORTGAG~
As security for the payment of the promissory note of nhich the following is a copy:
Installment Note and Disclosure'Staternent ~
~ 8,189 .40 ' ` St . Lucie Cotaity Florida
• ~
~ September 1, 19 73
~inK NolE
For Value Received. I. we or either of us promise to pay to the order of OUTD00B ~tESORTS OF
A~IERICA, INC.. P. O. Box 1]L~,g The~ns~~~uea~c~~l$n~a,h~~~,~p~ a~~~}~~~~s the holder hereo! may
de~i~nate in writing, the sum of &1~n ~10~ ( 8 Dollars,
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
, CHARGE on the amount financed, payable in""""60~~--~~ equal consecutive inonthly installments of
5~,3~ ~L~,q-------each, and the first installment to become payable on thp lst day of 'DeCember
~ 1~1 73 , and one such installment to become due and payable on thP lst ~ day of each succeeding month
~ until the whole of said indebtedness (Totat of Payments) is paid. In the event of prepayment in full by cash
~ l~efore the final installment date, the unearned portion of the FINANCE CHA~.GE shall be rebated under
~ the Rule of ?8's.
~ In the event of default in the due and punctual pa3-ment of any installment on this Note for a period of _
thirty (30) days~ or if any statement, representation or ~varranty_ in any application for the credit evidenced
by this Note is found to be untrue in any material respect. or in the event THE UNDEftSIGNED. WITHOIJT
THE PRIOR WBITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (EXCEPT
FOR ANY 14iORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY RREACH OF THE MOBTGAGE OR PERMIT OR SUFFER ANY LIEN TO
EXIST ON THE REAL PROPESTY PURCHASED BY THE Wi DEBSIGNED AND FI~TANCED THROUGH
THE CAEDIT EVIDENCED BY TIiIS 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 at 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
gned agrees to pay a late charge on such installment in
~ days thereafter, the holder may collect, and the undersi
~w: an amount equal to 5% of such installment or $5, ~vhichever 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.
~ 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 ared severally transfer. conve3~ and {
~ assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
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 possession of sitch homestead or exemption to deli~~er to i
~ the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness e~~idenced
~ 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 ar~? and all homestead exemptions allo~ved by law.
A first mortgage for the secu~ity of the aforesaid indebtedness is retained by OUTDOOB ftESORTS OF {
~ ~tiIERICA, INC., on Lot No.~in that certain Condominium known sa OUTDOOA RESORTS AT I~'ETTLES
~ (S[.atiD, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
cord~d in the Otfice of the Circuit Court in and for St. Lucie Count Florida, in Plat Book lo, page I:lA
th rough 1J. BOOK ~~L1 `AGE ~ r v j-; t~ ~r~~
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