HomeMy WebLinkAbout0550 i
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- O R T G 32822'
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the mortgagor~ in consideration of th principal su specified in the romissory ot hereafter described, r~
ceiveci from Ot1TDO0R BFSORTS OF AMERI INC., a corporation orga ' d n existing under the Lawa
of the State of Tennessee. the Mortgagor. hereby on this~...~d of . 19~.^
mortgages td;the Mortgagee the real pmperty in St. Lucie County, F~lorida, d bed aa: .
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Lot No ~ - that eertain condominium known as OUTDOOR
J~ ~ RESORTS OF AMERICA AT NETTLES ISLAND~ as ahown bq plst
recorded in the Ofl9ce of ~the Circuit Court in and for_ 3t~ucie County~
Florida, in Plat Book 16. page 1:1A through 1J. ~~s~s .
' ~ THI8 I3 A PUBCHA3Ts MONEY MORTGA EONLY •~S'O a-~'08ld~•~
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As security for the payment of the promissory note of which the following ie . s copy :
, Instollment Nate ~ nd~~sure Sta em nt. ~
~ 0 ~ ~C pttN~M~ ~ Floriaa
~~Ij~NT 10 t~•n•r~ ~i-13l. M1TS OF I9I1.
p+t ~ ~ r; =r~ 3 U - 19~
, W~:~t C0, ~
For Value Received. I, stiR6~~~e~o~ us promise to_pay to the rder of OUTDOOR RE30ItT3 OF
AMERICA. INC.~ P. O. Box 11 d nse Beach. o'da. 5?. or an ther ace as~~holder hereof may
designate in writing~ the sum o ~ Dollars.
this sum being the Total of Payme refened to in the isclosure Stateme be w, which d~~ NANCE
CHARGE on the amount financed. payable i ~ equal consecutiv monthlq i ments of
3 ~ each, and the first ir_stallment to become payable on ~ th day of '
19~ and one such installment to become due and payable on th ay of each succeEding month ~
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full t~y cash
~ before the fina~ installment date. the unearned portion of the FINANCE CHABGE ahall be rebated under
~ the Rule of 78's. . _ . ~
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~ In 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 im any application for the credit evidenced ~
~ by this Note is found to be untrue in any material respect. or in, the event THE LTNDER3IGNED, WITHOUT r
~ THE PRIOR 1NRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBEA (ERCEPT
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 O~t SUFFE~t ANY LIEN TO
EXIST ON THE REAL PBOPEBTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY Z'HIS NOTE or in the e~ent of the incompetency, insolvency (howsoever
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining iridebtedness then
due shaU become immediately due and payable at the option of the holder hereof without demand, presentment
4 or notice of any kind. Any failure of holder to exer~ise said option shall not constitute a wsiver of ~he 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
days thereafter, the holder may collect, and the undersigned agrees to pay a late ~harge on such installment in
~ an amount equal to 6~~ of such installment or $5, whichever is IsssR and in the event this Note is coUected by
law or through an attorney at law or under advice thereof, tt.e undersigned agrees to p~y all oosts of collection,
~ncluding resisonahle attorney's fees and court costs to the extent permitted by Flarida law.
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The undersigned and all endorsers or other parties to this note jointly and severally transfer. cunvey and ~
assign tn the Holder a suR'icient 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 horriestead or exemption to deliver to ~
the Holder a sufticient amount of property or money set apart as exempt to p~y the indebtedness evidenced ~
hereby. or anp renewal thereof, and do hereby. jointly and severally, appoir_t the Holder the attorney in fact for -
each of them~ to claim ar:y and all homestead exemptions allowed by ;aw.
A first mortgage for the ty of the aforesaid indebtedness is retained by OUTDOOR KESORTS OF
AMERICA, INC., on Lot No:~~~ that certain Condominium known aa OUTDOOB RESOKTS ~AT NETTLES
ISLAND, and on ~n~ improvements, fixtures or after acquired property added thereon, as ahown by plat re-
corded in the O~ice of the Circuit Court in and for St. Lucie County, Florida. in Plat Book 16, page ::lA
through 1J. • ' - -
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