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2286'78 M ~ R T G A G E - mis. lnst~un~ent Pre~3r~d Br 6
• ` ~ `lYnn ~Cativiey
I// "j~l `l /1 Outdoor Rewrts of Ameria, Inc.
,_lynti. a~~ /"/a~Ice~n L/. l-11[I~V~ ~
the mortgagor. in consideration of the principal sum specified in the promissory note hereaiter described. re-
ceived from OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the Lawa
of the State of Tennessee, the Mortgagor, hereby on this 6~~ day of tiarch , 19~,
mortgages to the Mortgagec the real property in St. Lucie County~ Florida~ described as:
Lot No in that certain condominium known as OLTTD008
RESOBTS OF AMERICA AT NEITLES ISLAND~ as ahown by plat
recorded in the Oflice of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16. page 1:1A through 1J.
THIS IS A~ PURCHASE MONEY MORTGAGE
As security for the payment of the promissorq note of which the following is a copy:
~ Instatlment Note and Disclosure Statement
~ ~,9l~[~.h0 Columbus, Ohio ~
Dacumentary SUmpi
aftixed origimt a~ :-arCh 6, is.32
and apaMd .
For Value Received, I, we or either of us promise to pay to the order of OUTDOOR RESORTS OF
AMERICA. INC.. P. O. Box 1116. densen Beach. Flor ida. 334b7, or any other place as the hotder hereo! may
designate in writing, the sum of I~f~e Th~~sand t~ine :~und.red Forty raur 1~0/100 ( q~~l~. ~0 ~~11~~
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
CHARGE on the ambunt financed. gayable in b0 equal consecutive monthly installments of
~ i65.7l~ each, and the first installment to become payable on the 2~h day of~~nr~? ,
19 ?2 , and one such installment to become due and payable on the 2~th day of each succeeding month
i~ntil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
t~efore the fina} installment date. the unearned portion of the FINANCE CHAftGE shail be rei~ated under
the Rule of ?8's.
In the event of default in the due and punctual payment of any installment on thia Note for a period of
thirty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
by this Note is found to be untrue in any material respect~ or in the event THE UNDERSIGNED. WITHOIJT
THE PRIOR WBITTEN CONSENT OF THE HOLDER HEREOF~ SHALL SELI,, ENCUMBEB (EXCEPT
FOA ANY MORTGAGE WHICH 1S SECUR~TY Fo08 THIS NOTE) OR OTHERWISE DISPOSE OF O~i EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT O~t SUFFER ANY LIEN TO
EXIST ON TH~ AEAL PftOPEBTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGPI
THE CftEDIT 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 beoome immediately due and payable aL the option of the holder hereof without demand, presentment
or notice of any kind. Any failure of holder to exereise said option shall not conatitute 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 o~ within ten .
days thereafter, the holder may collect, and the underaigned agrees to pay a late charge on such fistallment -in
an amount equal to 5 J of such installment or $5, whichever is less, and in the event this Note is• collected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay all coats: of oollection,
including reasonable attorney's fees and court costa to the extent permitted by Fiorida Iaw. ~ •
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
assign to the Holder a suf~'icient amount of such homestead or exemption as may be allowed, iaeluding such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs9f collection. ;
and do hereby direct any truatee in bankruptcy having possession of such homestead or exemption~o deiiver to
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof, and do hereby~ jointiy arid severaliy, appoint the Holder the sttorney in fact for
each of them, `..o ciaim any and all homestead exemptions allowed by law.
A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOIt RESORTS OF
AMERICA. INC., on Lot No. lul in that certain Condominium knovm ~s OUTDOOB ~iESOAT3 AT NETTI.E3
1SLAND, and on any improvements, fixtures or after acquired property added thereon, as ahown by ptat r~-
corded in the Office of the Circuit Court in and Q
o~r t ucie Co t Florida, in P1at Book 16, page 2:1A
thmugh 1J. BO~K ~AC~ ~~~V
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