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HomeMy WebLinkAbout2086 i ~ _ _ .y_ _ _ _ ~ 'C ~ s _ l~ ~.r i ~ . '_yvV~ • MO 'AGE 4 ~ ` ~ the mortgz?gor, in consid ion of the principal sum s i ed in the promis•.gory note hereafter described, re- ~•ci~•eci from OLITDOOR SORTS OF AMERICA, INC.. corporation organized an existing under the Laws ~~f the State of Tennessee, the Mortgagor, hereby on this_~~-day of 19~ mortga~,•es to the Mortgagee the real property in St. Lucie County~ Florida. described as: Lot No.~~~ that certain condominium known as OUTDOOft RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat recorded in the Of~ice of the Cireuit Court in and for St. Lucie County, Florida, in Plat Book 16. page 1:1A through 1J. TNIS IS A PUftCHASE MONEY 1110ftTGAG~ . as security for the payment of the promissory note of which the following is a copy: - . ~ Installment Note and Distlosure Statement ~ , i1 DOC. S~IIMP'S ~V i 'TIOY'ld8 ~ ~ ~ 19~ F~~r ~ralue Recei~~ed, I. ~re or either of us promise to pay to the order o UTDOOR RESORTS OF ~ tiFRT(•A. TN('.. P. O. Box 1116. Jensen Beach. Flor ida, 33457, or any other place as the holder hereof may ~lt~~ignate in ~tiritin~. the sum of ~`n~~~~ ~ '~~~-~r ~~46e ~ Dollars~ tl~i, .um bein~ the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE ('FiARGE on the amount financed. payable i~-__~s1~-equal consecutive monthly ' stallments of ~___~f •_~each, and the first installment to become payable on the~._day of~ • 19_ and one such installment to become due and payable on the-.~~day of each suc i month ~i ~mtil the Hhole ~f said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash f i~efore the final installment date, the unearned portion of the FINANCE CHAF.GE shall be rebated under ` the Rule of 78's. In the event of default in the due and punctual payment of any installment oa this Note for a period of t?:irty (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 respect, or in the event THE UNDERSIGNED, WITHOUT Tt~E PRIOR ~'VRIT'fEN CONSENT OF THE HOLDER HEREOF. SHALL SELL~ ENCUMBEft (EXCEPT FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO EtIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH THE 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 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 ingtallment, 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 instaliment in ~ an amount equal to 5`~ of such installment or $5, uhichever is less, and in the event this Note is collected by l~~w or fhrough an attorney at law or under advice thereof, the undersiRned agrees to pay all costs of col ection, ~ 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 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 such homestead or exemption to deliver to the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced - hereby~ or any renewal thereof, and do hereby. jointly and severally, appoint the Holder the attorney in fact for each of them, to claim at and all homestead exemptions allow~ed by law. A first mortgage for the ~ of the aforesaid indeUtedness is retained by OLITDOOR RESORTS OF ~ M E R I CA, INC., on Lot No.~~~n~at certain Condominium known sa OUTDOOR RESORTS AT NETTLES ISLAND, and on any ~mprovements, fixtures or after acquired property added thereon~ as shown by plat re- corded in the Office of the Circuit Court in and for St. Luc'ie County, Florida, in Plat Book .16, page 1:1A thmugh 1J. ' 6QOK~.ViJ PAGE~~ , - - - - - ~ ~ ~~~~-v~~" _ .__s _ _ -