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. . . . ORTGAGE ~22131 G`~ , ;
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ihe mortgagor. in consideration of the principal sum specified in~ the promissory note hereafter described, r~ ;
,•~~i~•ed fmm OL'TDOOR RESORTS OF AMERICA. INC.. a corporation organized and existing under the Laws
~~f the State of Tennessee, the l~iortgagor, hereby un thi~~day of ~ . 19~.
ni~~i•tka},?e. to the ~iortgagee;the i•ea1 property in St. Lucie County. Florida, desc bed as:
Section II
I.ot N~~{_ n that certain candominium knuwn as OUTDOOR
RESQRTS O~~biF,RICA AT NETTLES ISLA\D, as show n bS~ piat
recordeci in the Oflice of the Circuit Court in xnd for St. Lacie County,
Florida, in Plat Book 16, page 1:1A through 1J.
mH~c tc a P11R(`HASE MOl\EY 11iORTGAGE ,.N ~mv~
.a: ~c~~urit~• fur the a•ment of the romisso note of which the fotlo~~~in ~ is a co 00`°'~~°~ ~
P J P rY PY = on~'~
instailment Note and Disclosure Statement
/6 3 ~ 4
~1~-' RECC~YCJ ; - IY PAYMEYT OF TqXES -
` 1.--/ ~ DUE Qtl ~UIiS 'C' ItiTa:iGtBLE PEASC~V1l PRQr'ERiV, l~_-. Florida
• PURS;lAYi TO CKAPTEA 7I•13t, ACTS JF 13i1. t ,y
ROGER i'0~1 ~ - 19~~
RAS, C:etA C;raii C~~rt, SL tut,;e Co, ~
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F'~~r ~'alue Recei~•ed, 1, ~~•e or either of us prom~se to pay to the order of OUTDOOR RESORTS OF'
:;~IE~;R[('A, INC, P. O_ Box 1116, Jensen Beach, Florida, 33457. or any other piace as the holder hereof~t;av j
~ir:i~,~~iate in «•ritin~,?, the sum o _1~~~~ ~ (-~~2~~d ) Dollars, .
c!~i~ ~um Uein~• the Total of PaSmen s re rred to in the Disclosure State ent below, which includes a FINANCE
` ~'~I~RGE on the amount financed, payable in___ equal consecuti~ onthly i tallments of
~_~~p• ~Q____each, and the first ~nstaliment to become payable on the~L! day of_ ,
' I ~~f and one ~uch installment ta 1~ecome due and pa~ able on the__ _~day of each succeeding month 3
I until the ~chole „f ,aid indebtedness (Tatal of Payments) is paid_ tn the event of prepayment in full by cash
!~~~f~,r~ the fina} in~taliment date, the unearned portion of the FII\ANCE CHARGE shall be rebated under
!he Rule of 78'~.
In the e~•ent of default in the due and puiutual payment of any installment on this Note for a period of
thirty (30) days, or if any statement, representation or warrant~~ in any application for the credit evidenced
t~~~ this Iv'ote is found to l,e untrue in an~ material respect, or in the event THE UNDERSIGNED, WITHOUT
' TtiE PRIOR ~i'RITTEN ('ONSE~T OF' THE HOLDER HEREOF. SHALL SELL, ENCUMBEB (EXCEPT
_ ~'nR A1~Y MORTGAGE ~t'HI('H 1S SECURITY FOR THIS ~'OTE) OR OTHERWI5E DISPOSE OF OR EN-
3 ~'L'MBER OR CODii1~1IT r1~I' RREACH nF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
' F~:IIST OR' THE REAL PROYERTY PL'RCHASED BY THE UNDERSIGNED AND FINANCED THROUGH -
~ THE CREDIT EVIDEI~CED BY THIS :~'OTE or in the event of the incompetency, insolvency (howsoever I
- e~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then ;
~ ciue shall become immediately due ar.d payable at the option of the holder hereof without demand. presentment
' ~ ~r notice of any kind. Any failure of holder to e~ercise said option shall not constitute a waiver of the right '
_ to exercise the same at any other time.
= Time is of the es:ence of this :~ote. !n the e~ent any installment is not paid when due or within ten
` days thereafter, the holder may cullect, and the undersigned agrees to pay a late charge on such installment in
s an amount equal to of such installment or $5, whiche~er is less, and in the event this Note is collected by
law• or throuKh an attorne~• at laH- or under ad~ ice thereof, the undersigned agrees to pay atl eosts of coltection, -
_ includin~ reasonable attorney'~ fee~ and court costs to the extent permitted by Florida law.
' The undersiRried and al: endorser~ ar other parties to this note jointly and severally transfer, convey and
a.si~,?n to the H~?lder a sufTicient amount of ~ueh home:tead or exemption as may be allowed. including such
homestead or exemption as may t,e set apart in hankruptcy, to pay this note in full, with all costs of coltecteon,
~ and do hereby direct any trustee in hankruptcy having po,ses~ion of such homestead or exemption to deliver to
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the Holder a suf~icient amount of property or money set apart as e~empt to pay the indebtedness evidenced
hereby~, or any reneK•al thereof, and do hereb~~, jointly and se~•erall}•, appoint the Holder the attorney in fact for
- each of them, to claim any and a11 homestead exemptiuns alloH~ed b~• law.
A first mort~age for the securjty ~ect~ori °`~Pi'Said indebteclness is retained by OUTI)OOR RESORTS OF
~ A:~1E;RI('A, INC., on I,ot tio/~?~~~i that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
a
- ISLA:~n, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
rorded in the Office of the Circuit Court in and for St. I.ucie County, Florida, in Pl~tt Book 16, page 1:1A
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