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230,851 M O R T G A G E ~ ~
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Outdcor Resorts of Am~rica, int,
DOU GLAS B.& BEITSRLY J._ GARVEY~ hi s wi f e~
tht~ murt~,•agor, in co~isideration of the prinri~l sum specified in the promissory note her.eafter descri~ed. r~
~~~~i~•ed from OUTDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the I.aws y
~~f the State of Tennessee. the Mortgagor, hereU~> on thi.___23r.i~day of 1'~reh 'f , lg~~, '
m~n•tgxge~ to the ltortgagee the real pmperty in St. Lucie Count~, Ftorida, described as:
Lot NolQD~I __in that certain condominium knoHn as OUTDOOR,
RESORTS .OF All1ERICA AT NETTLES ISLAND. as shown by plat
A
recorded in the OfiSce of the Circuit Court in and for St. Lucie County. ' ~
F`lorida, in Piat Book 16, page 1:1A through 1J. `~t'~ i
~
THIS IS A PURCHASE DiONEY MORTGACE t
,ecurit~• for the payment of the promissory note of which the follo~ving is a copy:
Installment Note and Dis~losureStatement~
6 ~ ~ ~ ~ St . Lucie Count
,-_~435
-0~~~.-t~ry S~amps p~ pp " PERSONIII PNOrER~1Y, y Florida
att;xed cr.~,;::ai nots ~ TO ClIAflE* 11-131. JYCTS OF 1Si11.
arw canceued ROGER PORRI?R M82'Ch?3. 1972
Cif1~ C1ACU17 OOUiCT. Si. LHCIE 00. fUl
For Value Received, I. w•e or either of us promise to pay to the order of OUTDOOR RESORTS 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 u•ritinfi, the sam of SiX thousand four hundred thirty five ~ 6, 435.Ot~ - Dollars.
thi, sum being the Total of Payments referred to in the Disclosure Statement below, which includea a FINANCE
t'f1ARGE on the amount financed, payable in__ 60_ equal consecutive monthly installments of
~ 107 .25 each, and the first. installment to become payaUle on the lst _day of~~y
.
t~ 72 , and one such installment to become due and payable on the- lst day of each succeeding month
ur~ti! the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
},t~fore the final installment date, the unearned portion of the FIIv'ANCE CHARGE shall be rebated under
the Rule of 78's.
In the eti~ent of default in the due and punctual payment of any installment on thia Note for a period of
tt~irty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
t~~• this Note is found to be untrue in an~~ material respect, or in the event THE UNDEftSIGNED~ WITHOU'T
THE PRIOR ~i'RITTEN CONSENT OF TNE HOLDER HEREOF, SHALL SELL. ENCUMBEK (EXCEPT
FnR ANY ~iORTGAGE V4'HICH 13 SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
('L'MBEff OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT UR SUFFER ANY LIEN TO
F:.l'IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ Tf~F. CREDIT EVIDENCED BY THIS NOTE or in the event of the 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 holder hereof without demand, presentment
s <~r notice of any kind. Any failure of holder to esercise said option shall not constitute a waiver of the right
E to exercise the same at any other time.
E .
; Time is of the essence of this I`'ote. In the eti•ent an3• installment is not paid when due or within ~E~1
1 ~iays thereafter, the holder may collect, and the undersi~,•ned agrees to pay a late charge an such inatallment in ~
~ an amount equal to 5~~ of such installment or $5, whichever is less, and in the event this Note is collected by
la~~ or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
including rea.sonable 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 i
; assign to the Holder a suflicient amount of such homestead or exemption as may _be aitowed, including such ;
h~mestead or exemption as may be set apart in i~ankruptcy, to pay this note in full, with all costs of collection, ~
and do hereby direct arYy trustee in bankruptcy having posse~~ion of such homestead or exemption to deliver to t
the Holder a sufficient amount of property or money set aE~art ac exempt to pay the indebtedneas evidenced
hereby, or any renewal thereof, and do hereby, jointly and ,e~~erall~•, appoint the Holder the attorney in fact for
° each of them, to claim any and all homestead exemptions alfo«•ed by law.
;
~ A first mortgage for the security of the aforesaid indebtedne~s is retained by OUTDOOR RESOftTS OF
; ~MERICA, INC., on Lot Nnl(~/I in that certain Condominium known aa OUTDOOB RESORTS AT NETTLES
ISLAI~iD, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
~ corded in the Office of the Circuit Court in and for St. Lucie ('ounty, Florida. in Plat Book 16, page 1:1A
; through 1J. 0 R ~
d00N V PACt U
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