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23a815 M 0 R T G A G E u This Instrumant ~•~ep~ QY
lqnn R~, :°,r
Outd Re crts o! Arnerica, (nC.
_ James C, and Patricia Anne Rhody~708 KittyHawk~ ~'alm Beach; Fla. ,
the mort~,?agor. in consideration of the principal sum specified in the promissory note hereafter described, re-
~•~~i~•ed from OUTDOOR RESORTS OF A111ERICA, INC., a corporation organized and existing under the Lawa
,~t' the State of Tennessee~ the Mortgagor, hereby on this_ 26_day of ~ April , 1972 ~
mu~•tgxges to the Mortgagee the real property in St. Lucie County, Florida. described as: ~
Lot No.~ Y~in that certain condominium known as OUTDOOR
RESORTS OF AMERICA AT NETTLES 1SLAND, as shown by plat
recorded in the OflSce of the Circuit Court in and for St. Lucie County~
Florida, in Plat Book 16, page 1:1A through 1J.
THIS IS A PURCHASE il01EY MORTGAGE /
~ecurity for the payment of the promissory note of ~hich the following is a copy: ~
j
Installment Note and Dis~losure Staterrrent ~ ~
~
,
~ ?+~.80 ~ ~ ~ ~ St . Lucie County Florida
~;,,~r,}s D!~ d ~tASt q1T11tK18LE rERSOMK PROPERIr~ '
.~t note l11RSiNNT r0 p~APTER 71•134.11CTS OF 191L~ Ap~il 26 lg rf 2
A06ER ~OITRI1S /,jt~j
and canatltd ST. UICIE 00, R~/
For Value~ Received, I, w~ ei er-of us promise to pay to the order of OUTDOOft BESORTS OF
~iERICA, INC., P. O. Box 1116. Jensen Beach, Flor ida. 33457. or any other place as the holder hereof may
~i~~:i~nate in ~vriting, the sum of F~~ and nine hundred seventv fiv~ 4475• $p~ Do~~ars,
this s?~m being the Total o~~'ayments referr to in the Disclosure Statement below. which includes a FINANCE
c'~~ARGE on the amount financed. payable irL_____ E~___~ equal consecutive monthly installments of
~2
•
93 each, and the first. installment to become payable on the lst day of
J~e ~
1~ _22 and one such installment to become due and payaUle on the- ls t day of each succeeding month
uniil the whole of said indebtednes.s (Total of Payments) is paid. In the event of prepayment in full by cash
i~efore the final installment date, the ui~earned portion of the FINANCE CHARGE shall be rebated under
the Ruie of 78's.
In the event of default in the due and punctual payment of any installment on this Note for a period of
tt~irty (30) days, or if any statement, representation or ~arranty in any application for the credit evidenced
E,~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOtTf
'I'HE PRIOR WRITTEN CONSENT OF TNE HOLDER NEREOF. SHALL SELL, ENCUMBEB (EXCEPT i
FOR ANY MOftTGAGE~ WHICN 1S SECURITY FOR THIS NOTE) OR OTHEftV{~ISE DISPOSE OF Oft EN- ~
CL'MBER OR COMMIT ANY RREACN OF THE MORTGAGE OR PERMIT OR, SUFFER ANY LIEN TO
E~IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
'I'iiE CREDIT EVIDENCED BY THIS NOTE or in the event of ihe incompetency, insolvency (howsoever
e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
clue shall become immediately due and payable at the option of the hoider hereof without demand~ presentment
or notice of any kind. Any failure of holder 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 e~•ent any installment is not paid when due or within ten ~
days thereafter, the holder may coZlect, and the undersigned agrees to pay a Iate charge on such instaliment in ~
an amount equal to 5~~ of such installment or $5, ~hichever is less, and in the event this Note ie collected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay al) costa oi collection, '
inciuding reasonable attorney's fees and court costs to the extent permitted by Florida law.
The undersigned and all endorsers or other parties to this note~ jointly and severally transfer, convey and '
assign to the Holder a sufficient amount of such homestead or exemption as may be allowed. including such
homestead or exemption as may be set apart in bankruptcS, to pay this note in ful1. with all costs of collection,
and do hereby direct any trustee in bankruptcy having posse.~ion of surh homestead or exemptioa to deliver to
the Holder a sufficient amount of property or money sei apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof, and do hereby, jointly and severall~~, appoint the Holder the attorney in fact for
earh of them, to claim any and all homestead exemptions allu«•ed by law.
A first mortgage for the secu~~~~#~~}~,le ~f~resaid indebtedness is retained by OUTDOOR RESOBTS OF
a~iERICA, INC., on Lot No._'~3 in that certain Condominium known as OUTDOOR RESORTS AT N~'TTLES ;
[SLAND, and on any improvements, fixtures or after acqaired property added tt?ereon~ as shown by plat re-
corded in the Office af the Circuit ('ourt in and for St. Lucie County, Florida, in Plst Book 16, page l:lA
through 1J. sooK 203 PA~E 59
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