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•h~~ murt~;u~?ur, in c~?nsideration of the princip.~l sum ~pecitied in the pron~i•sur~• n~?tc~ herexfter desrrit,ed, r~
~ t~:~-ed fmm OL'TI)OOR RFSORTS OF ~~1ERICA, INC., a co ration orKanized a d existin~,~ utider tha LaH•s
~h~~ St~?te of Temies,ee. the :liortgagor. hereby on this`_1~~duy of-._ 19?L_.
r=.:~~i•t~,~a~.•e. t~? the ~Ioe•tgagee the real property in St. Lucie County, Florida, descri aQ: .
Lot No.~~~~!`' _ui that rertain condominium knoH•n as OLlTD00R
RESORTS OF A~iFRICA AT :~'ETTI.ES ISLAND, as C~10W11 b~• plat
recordeci in the OflSce of the Circuit Court in and for St. Lurie County,
Florida, in Plat Boc~k 16, page 1:1A through 1J.
THIS IS A PURCHASE biONEY `lORTGAGE
~ECUrit~• for the pa~•ment of the promissury tlutC Vi ~iiia;i i :a: ;::::u::. " _ ~ t' =ti . _
~n ~
~'fix~ ~ .~a. _ ` , L
instailment Note ond Disclosure Statemen ~ ~=~e~~.~
: VQ. Florida -
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Fur t'alue Recei~~eci, l, «•e or either of us pn,m i~e to pay to the order of OUTDOOR RESORTS OF
~TI~:ft1('A, I;v'C.. P. O. Boa 1116 Jense~ Beach, Flor ida, 33457, or any other place as the holder hereof may
~i~~~i~:nate in ~sritin~;, the sum of ~~-~!-!~~.~~~'^~~~a' Dollars,
~ i; i~ sum bein~,• the Tutal of Payme ts referred to in the Disclosure Statement belo . whirh includes a FINANCE
~ t 1~ RGF, on the amount financed, payable in~. equal consecuti~ e monthiy instaliments of
? f3~.S~ __each, and the first installment to become payable on the_L~ day uf ~ ,
?'~7/ , and one such in~tallment to t,ecome due and papable on the__ f5..~~_day of earh ucceeding month
~~:~il the w•hule c~f said indebtedness (Total of Payments) is paid. ln Lhe event of prepayment in full by cash
~~~t~~rc the final in~tallment date, the unearned portion of the FIA'ANCE CHARGE shall be rebated under
r};~~ f~ule of 78's.
In the e~•ent of default in the due and punctual payment of any installment ~n ihis Note for a period of
~ ~::rty (30) da~~~, or if any statement, representation or warranty in any application for the credit evidenced
ihis Ir'ote is found to he untrue in anr material respect, or in the event THE UNDERSIGNED, WITHOUT
"I~EiE PRIOR ~i'RITTE\ ('O:~'SE:~T O~ THE HOLDER HEREOF, SHALL SFLL. ENCUMBER (EXCEPT
?K A:~'l' MORTCAGE ~ti'HICH 1S SECL'R1TY FOR THIS NOTE) OR OTHERWISE DISPOSE OF UR EN-
's ~ t'~iBER OR CO~?iA1IT A:~Y RREACH OF THE ~10RTGAGE OR PERM[T OR SUFFER ANY LIEN TO
j F~:~IST O:`T THE REAL PROPERTI' PL'RCHASED BY THE UI~~DERSIGNED AND FINANCED THROUGH
~ "I'HE CREDIT EVII:ENCEU B1 THIS NOTE or in the event of the incompetency, insolvency (howsoever
f~~ idenced) or Uankruptcy of an~•one or more of the undersigned, then the entire remaining indebtedness then
; ~.?.~e shall become immediatel~ d~ie ar.d pa~•able xt the option of the hotder hereof K~ithout demand, presentment
; ~:r notice of any kind. Any failure of holder to esercise said option shall not constitute a waiver of the right
~ t~~ exercise the same at any other timc_
~ Time is of the essence of this :~ute. ln the e~ent any installment is not paid when due or within ten
- ~:a~•s thereafter, the hoider map collect. ~and the undersiKned agrees to pay a late charge on such installment in
an amount equal to 5',: of such in~tallment or $:i, whiche~er is less, and in the event this Note is collected by
' iaw or through an attorne~ at !aw• or under ad~ice thereof, the i~ndersiKned agrees to pay all costs of collPCtion,
inciuciinK reasonable attorne~•'s fees and court costs to the extent permitted Ly Florida law.
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
a~si~.rn to the Holder a sufficient amount uf such homestead or exemption as may be allowed. including such
h~~mestead or exemption as may be set apart in t,ankruptcg, to pa~~ thi~ 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 amaunt of property or money set apart as exempt to paS the indebtedness evidenced
hrrel~S-, or an~• renew~al thereof, and do hereby~, jointly and se~~erali~•, appoint the H~lder the attorney in fact for
each of them, tu ~laim any and all homestead exemptions xllow~ed by law.
~ A first mortgage for the secur,i,t/y'of the aforesaid indebteclness is retained by OUTDOOR RESORTS OF
` :~~tERICA, INC., on Lot \0~~~15f~that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
!`I:A:~I1. and on an~~ impmvements, fixt~~-E:~ or after acq~ir~d proFerty ~dde~ thereon. as shown by plat re-
c~~rcfed in the Office of the Cirruit Court in and for St. Lucie County, Florida, in Plat Bouk 16, page 1:1A
thrCuy?h 1J. , ~4
. • .~'~:_~5 This t.^.struT~Rt Fre~are~ ~y
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'1 ~~"~:;C, ~ • Atn2!'~S. ItIC.
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