HomeMy WebLinkAbout2194 ~~R ~~s M O R T G A G E ;~,J~
~ ~ ' / Joint Tenanc Q~i""
~chard l~eit~navr & Matilda Stout, Y ~
' the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. re-
rei~ed from OU'TDOOR RESORTS QF A~dERICA, INC., a corporakion organized and existing under the Laws
of the State of Tennessee, the Mortgagor. hereby on this l3t day of.~~D~~r ~ 19 73 ,
mortga~es to the ~iortgagee the real property in St. Lucie County. Florida. described as: '
Lot Na 561/II in that certain condominium known as UUTDOOR '
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat }
recorded in the Office of the Circuit Court in and for St. Lucie County. ~
Florida, in Plat Book 16, page 1:1A through 13. ~
• THIS IS A PURCHASE h10NEY 11i0ItTGAGE
~s security for the payment of the promissory note of which the following is a copp: ,4/~~~ _SQf _ ~~j/~~Q/9
instattment Note and Disclosure Statement
`9~2g1.2$ St. Lucie County ~orida ~
~ September 6, 19 73
For Value Received. I, we or either of us prnm ise to pay to the order of OUTD008 RESORTS OF ~
a~iERICA, INC.. P. O. Box 1116, Jensen Beach, Ftor ida. 3345?. or any other place as the holder hereof *nay ~
Nine thousand two hundred eighty-one 9 2g1.28
d e:i finate in writing. the sum of f- ) DoUars.
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
CHAftGE on the amount financed. payable in "-'--"-96"-----equal consecutive monthly installments of
c 96 .6~------- each, and the first installment to become payable ori the lst day of ~c~~r
l~_.7~. and one sach installment to become due and payable on thP lst day of each succeeding month
z~ntil fhe whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
i~efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under g
the Rule of 78's. ~
In the event of defautt 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 wa~ranty in any application for the credit evidenced 3
t~y this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOIJT 3
THE PRI4R V4'RITTEN CONSENT OF THE HOLUER HEREOF, SHALL SELL. ENCUMBEB (EXCEPT ~
FOR ANY MORTGAGE WHICH 1S SECUAITY FOB THIS NOTE) OR OTHERWIS~ DISPOSE OF OR EN- ~
; CUbiBER OR C4MMIT ANY BREACH OF THE MORTGAGE O~t PER3VIIT OR. SUFFER ANY LIEN TO ~
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIG:`ED AND FINANCED THROUGH ~
t 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 entire remaining indebtedness then ~
~ d~e shall become immediately due and payable at the option of the holder hereof without demand, presenttnent
or notice of any kind. Any failure of holder to exercise•said option shall not constitute a waiver of the right
t~ exercise the same at any other time.
Time is of the essence of this lti`ote. In the event any installmPnt 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
an amount equal to 5`% of such installment or $5, whichever is less, and in the e~ent 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 and severally transfer, convey and :
a5sign to the Holder a sufficient amount of such homestead or exemption as may be allowed, ine?uding such F
homestead or exemption as may be set apart in bankruptcy. to pay this note in full, with a11 costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
- l~~z HUlc3er a su,~'icient amount of pro~erty or money set apart as exempt to pay the in~ebteciness 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 a~.~~ and all homestead exemptions allo~sed by la~v.
A first mortgage for the security of the aforesaid indehtedness is retained by OUTDOUR RESORTS OF
~~tiIERICA, INC., on I.~t No?61 IZin that certain Condominium known sa OUTDOOR RESORTS AT NE'['TLES
` 14I,a:v n, and ~n any improvements, fixtures or after acqaired property added thereon, as shown by plat re-
# ~-lorl iri fhn ~:~o tHo ( i ~ f'n.~.} :v~ ^.1,.3 f~. 'n ~;3i:'.~.:: ii• i
iwv a~iw~ iv sa c i:its
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