HomeMy WebLinkAbout0554 i` -
;
~
. f
~
~
~ ~ s`
~ ~
. - _ _ _.._.z..__ -
•
, . - 32522~~ . .
- - ORTGAGE .
6/ E ~Ji~
. - E ' ~
the mortgagor. in consideration oi the prin ipal $um specified in the promissory note hereafter described, re-
ceired from OUTDOOR RESORTS OF A111ERICA. INC., a corporation organi and existing u~der the Laws .
of the State of Tennes~ee, the Mortgagor. herek~y on thi~.L~~ day of~ -19~[_~
mortgages to the Mortgagee the real property in St. Lucie County. Florida, de as:
~ I,ot No.fll!f2~~_in that certain condominium known as OLJTDOOft
RESORTS OF AMERICA AT NE'!"FLES ISLAND, as shewn by plat
. „j' recor~ded in the Ot~ece of the Circuit Court in anc~~or St. Lucie County,
Florida~ in Plat Book 16, page 1:1A through 1J. ~~sF~s . ~
~ . ucE or~tY . ~S~ -5a-~oQa - csaq/
THIS IS A PURCHASE 1110NEY MORTGAGE
.4s security for the payment of the promissory note of which the following is a copy: ~ ~
: Instaiiment Note an '
o ~~~~re St tem t . -
~ ~
~~11atM~~ ~ 1911. Florida
. CKrr .
F11~
P11A~~ ~ D ls~ ~
For Value Received. I. we or 61A~ us promise to pay to the o er- of OUTDOOIt RESORTS OF
A~iERICA. INC., P. O. Box 111 . ensen Beach. Flor id , 3345? or an other place as the holder hereof may
t
desi~nate in writing, the sum o
this sum beinb the Total of Pay ts referred to in the Disclosu tement below, which includes a FINANCE
(-'HARGE on the amount financed. payable in ~ 4 equal consecutive monthly ' tallments of
~~~-~c~-each, ~nd the first installment to become payable on the_L_._day of
137~, and one such installment to become due and payable on the____~ day of each succeeding month
untii the whole of said indebtedness Total of Payments) is paid. In the event of prepayment in full by cash
t?efore the final installment date, t~e unearned portion of the FINANCE CHAAGE shall be rebated under
the Rule of ?8's. ~
.
.
; 1n the event of default in the due and punctual payment of any installment on this Note for a period of
I thirty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
h~- this Note is found to be untrue in any material respect, or :n the event THE UNDERSIGNED, WITHOUT °
THE PRIOR WRITTE;7 CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
~ FOR ANY MORTGAGE WHICH 1S SECURITY~ FOft THIS NOTE) OR OTHEftWISE DISPOSE OF Oft EN-
CUMBEB Oft COMMIT ANY BREACH OF THE MO~tTGAGE OR PERMIT Oft SUFFEB ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THBOUGH
THE CRELIT 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
or notice of any kind. Any failure of h~lder to exereise 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
days thereafter, the holder may collec±. and the undersigned agrees to pay a late charge on such inst,~liment in
an ~amount equal to 57 of such installment or $5, whichever is l~.SS. and in the event this Nate ~.collected by
la:v or through an attorney at law or under advice thereof, the undersigned agrees to pay alf cast~ of collection~
including reasonable attc,rney's fees and court costs to the extent permitted by Florida law. -
i -
~ The undersigned and al! endorsers or other parties to this note jointiy and severaliy transl~r, convey and•o
~ a.ssign to the Holder a sufficient amount of such hon~estead or exemption as may be allowed, irrc7uding such~~
homestead or exemption as may be set apart in bankruptcy, to pav this note in full, with all costs of coliection,}~
and do hereby dire~t any trustee in bankruptcy having possession of such homestea~l or exemptio~.F.'-ta deliver toli~
the Holder a suflicient amaunt of property or money se~ apart as exempt to pay the indebted~+ess ~videnced ~
hereby. or any renewai thereof, and do hereby. jointiy and severally, appoint the Holder the attorw~~j? in fact for ~
each of them, to claim at and all homestead exemptions allowed by law.
~ A first mortgage for the security of the aforesaid indebtedness is retained by OtTTD(?OR RESOftT3 OF
AbiER~CA, INC., on Lot No~~~in that certaih Condominium known as OUTDOOR RESORTS AT NETfLES
ISLAh'D~ and on any improvements, fixtures or after-acquireci property added thereon, as shown bq plat re-
cordAd in the Of~ce of the.Circuit Court in and for St. Lucie County~ Florida, in Plat Book 16, page l.:lA
through 1J.
" ~ . _ _ _ i ~ s~~ ~ -
_z ~ -y ~.~;t - , _