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~~212~ MORTGAGE ~ ' ~ ~
_ ~ , i rs ~Y.. J
Maurice and Austa Ka~y_Descham~s
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'tl~' niurt~•.i}[hi', lIl Co~i~iderdtion of the E/CII1C1~).i~ ~UTII ~~it'~'Itlt'tl ?li th~• pr~~mi~~ur~' t:~~;t~ t1C'1'ta;~.tT re-
~~:~~Ed fr~~m Ot'TI)OOR RF.SORTS C)F A'~iEhl(':~. I\C.. a:c~r~~~~ratiun ur~,•.+nize.~el and exi~ti~~~.* urn1~•i• ~1«• [.a~~•s
~~i the State of 7'ennes~ee, the 1liortgagur, hereb}• on th?~_ 23rd ~i~t~• f ~a~Udt'y_ Zl_,
m~~rt~,•a~,•e~ t+? the liortkagee the real ropei•t~• i» St. Lucie ('u~int~•, Fl<~ridx. desc~•ii,ed ~g
Secti on ~I E 14''~r.
Lot Kall02-~L in that certain runduminium knu~~?i a~ OLTI~OOR •t°
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RESORTS ~F ~:~~EKICA a'f \E1"I'LE~ ISI,a\1), a~ ~ho~~•n in• plat ~ c~„ r,3,~,
rec~~rded in the Oflice of the ('ii•cuit ('ui~rt iu ~in~1 fur St. Lt~cie C'uunt~•~~ Q~:`.-,Sp~
Flurida, en Plat R~K~k 16, pake l:l~ thi•u~i~h 1.J. j~
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TH1~ L~. ~l f'L'R(:H:1SE ~l0\El' ~1ONT(::IGE I ~`~t"
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a~ ~ecur~t~- for thr F~a~•rnent uf the prumi~.c?r~• nute of ~rhich ihe tullu~~i~~k~ i~ a cu ~~C?`~,`+\ 4`.y ~J41T p'
~ ~ ti` ` ~1~+~~ ~7-
Instaliment Note and Disclosure Stateme~~~`'~'
: 8325.00 Documentary ~•~T. ~ ae~~e~-~eaE~-~~.-- Ltte~e Florida
ellixed er.bl-~i n~te
,~a ~3n~~~~~ Januar~? 23, 1971
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F~~r ~'alue I:ecei~•ed, I. ~~~e or either of u~ prumi~e tc~ pa}• to the urder of OUTUOOR RESORTS OF
,a~1~:R1('??, I:~('., Y. O. B~?x 1116, Jensen Beach, Florida. 33~57, or any other place as the holder hereof may
?~~~i~•nate in ~.•ritin~,~, the ~um of_E?.~t thousand _three hund?^~1_~lentv f1YE~nD/iQO--$$325.DD nollars,
; ~i;i. wn~ Lein~,• the Total of Yayments referred to in the I)i>clusure Statement below. «hich ::::..~des a F1tiANCE
i ~ k~AItGE on the am~unt financed, pa~•able in___ 60 _eyual con,ecuti~•e monthly instaliments of
? ?]~8.75 -_each, and the first in~tallment tu becume pa~•aUle on the~~_ __-day of___ Mdl"Ch
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~ 14+ 71 , and one such in`tailment to }>ecome due and pa~•at,le a9 the._]St_______day of each succeeding month
~ ~;ntil the ~~-hole of said indebtedness lTotal of Yayments) is paid. In the e~ent of prepa~•ment in fuil by cash
~ ~.~•f~,re the fina} in~taliment date, the tinea?'ned purtion of the F11A1CE CHAFGE shall k,e rel~ated under
~ ; nf~ l~ule of i 8'~.
~ In the e~•ent of default in the due and pw~ctual pa3•ment uf any installment on this tiote for a period uf
f *hii•t~ (30) days, or if any statement, representation or ~-arrant~- in any application for the credit evidenced
; in- this :~ote is found to t,e untrue in an~• r.~aterial respect. or in the e~~ent THE L'NDERSIGtiEU, VVITHUUT
~ ~rHE PRIOR «~RITTE?~ COtiSE:~"i OF THE HOI.UER HEKEOF, SHALL SELL, E:~c~L:~iBER (EXCEPT
~ I~'OR A\'Y MORTGAGE «'HI('ti 13 SECURITY FOR T~iIS :~OTE) OR OTHER~ti'1SE UI~PUaE OF OR EN-
~ (~LMBER OR CO'.?iMIT ANl' RREACN O~' THE MORTGAGE nR PERDi(T OR SLF~'ER ANY I.IEN TO
~ ~:XIST O;~' THE REAL YROYERT~' PL'R(;HASED RY TH~: L'1I)F.RSIG:~~:D ANU FltiAtil'F.U THROliGH
~ "I'IiE CREDIT E~'IDEN('E[) BY T~~IS :~OTE or in the e~•ent of the incompetenc~~, insoivenc}• (howsoever
~ ~~•idenced) or bankruptcy of anyone or more of the under~iKned, thpr: ±hp e~tire remainin~; indebtedness then .
~ ~iue shall become immediately due and pa~•aLle at the upti~,n uf the holder hereuf w•ithout demand, pre5entment
~~r notice of an~ kind. Any failure of h~~lder to exerci~e ,aid upti~~n ~hall not constitute a w~ai~•er ~:f the right
tv exercise the same at any other time.
~ Time is of the essenee of thi~ 1ute. I?i th~ e~•ent an~• in~tallrnent is not paid H•he~i c~ue ~,r ti•ithin ten
~iays thereafter, the hulder may collec•t, and the under~i~~ne~l .t~.~rct•.: t~~ r~a~~ a late char~~e un such f~~-tallment ir~
= an amount eqval to 5'.~ of such in.tdllment or ~+5, whichc~~~er i~ le~~, and in the e~•ent this tiote i~ ~•{~11ec~ted by
!aw or through an attorney at law• or under advice therevf, the un~er:~i~.~ned agree~ to pa~• all custs of cc~llectiun, ~
includinK reasonable attorney's fees and cow•t costs tu the cxtc~nt p~rmitted b~• Fl~rida law•.
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- The undersiqned and all endorsers ur other partieti to thi. n~~t~~ i~~intl3• and se~-erall~~ transfer, cun~~ey and
s~~`. ~ assi~,~n to the Holder a~u~cient amuunt of such hc~me~te~~i ur ex~~mptiem ma~• I,e allu~•ed, includinF~ ~urh
~ humestead or exemption as may be set apart in t,ankruptc>•. t~, E~a}~ thi~ note in full, ~~~ith atl cost~ of coltecti~.in,
~i3 ~ and do heret~y direct anS~ trustee ili batikruptcy ha~~ink Fx,~~~~~~i~~n "f ,uch humestead <~r exemption to deli~er t{>
the Holder a sufficient amount of property or mone}• ,et <?E~:trt :t~ ~~sempt tu pa}~ the i~idei,tc~3ness eridenced
herebS•, or an}~ renew•al thereof, and do heret,y, jnintl~~ and ~~~~~~ra11~. .~E~~~uint the Holder the attor~ey in fact for
=:V~ ~ each of them, to claim any and all home~teud exemptiol« .tll~~"e~~l 1~~~ t~~~+~.
riy.
A first mortga~,~e for ~ ~ i of the afores.iid indet~te~i~?e~~ i, retained i,~• OLTIK)OR R~50KTS OF i
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~ AMERICA, INC., on Lvt No j~'~ that certein Cund~~n~initini kn„wn aa OL'TDOOK R~:SORTS AT ti~;TTLF.S
ISLA?~I), and on any impro~~ements. fixtizres or after acyuire~i ~~r~~E,~rt~• added thereon, as shown by plat re-
~ c~,rded in the Offi'ice of the Circuit ('c~urt in and for St. l.u~~i~~ ~'~~unt~•. N'lorida, in Plat Book 16, paKe 1:1A
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