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2~~~.~ M O R T G A G E
;
~ _ JAMES Js AND GERTRUDE A~ SIMS husband & wife~ ,
the mortgago~ in consideration of the principal sum specified in the promissory note hereafter described, re-
~•f~i~•ed from OU'I~DOOA RESORTS OF AMERICA. INC., a corporation organized and existing under the Lawa
~~f the State of Tennessee. the Mortgagor, hereby on this ~ day of M?s ' , 19~.2.
murtgages to the 1liortgagee the real property in St. Lucie County, Florida. described as:
Lot No. 46~II ~in that certain condominium known es OUTDOOR
RESOftTS OF AMERIC~ AT I~E1"fLES ISLAND, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16, page 1:1A through 1J.
THIS IS A PUBCHASE h~ONEY MORTGAGE ~
a~ securit~ for the payment of the promissory note of which the fo2lowing is a eopy: ,
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Installment Note and Disclosure Statement
~9•g9
~ 9, 945 . 00 --1~ 1M1~11~ ~ St . Lucie County Florida
° on~ a~ a,~s s~~sa~t rNOro~r. - ~
~:.st note lIIR~M~T 1D pMriElt T1•2.91. #{,7! Of 1!)1. ! May 3 ig 72
. c~:;c~i+eA IIOOER fOItIGV~
{x~I GAqiIT COtRT..ST. ~
For Value Received. I. we or either of us prom ise to pay to the order of OUTDOOft RESORTS OF
a~IERICA, INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457, or any other place as the holder hereof may
c~e•i~nate in writing, the sum of Nine Thousand-Nine Hnndred-Forty-Five ~9.945.00
this sum l~eing the Tota1 of Payments referred to in the Disclosure Statement below. which includes a FINANCE
('~~ARGE on the amount financed. payable ir?_.__ 60 equal consecutive monthly instaliments of
165.75 each. and the first installment to become payable on thp lst day of July
.
1~_~? , and one such installment to become due and payable on the-lst day of each sutceeding month
~~?~ti~ the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
hefore the final installment date, the unearned portion of the Flh'ANCE CHARGE shall be rebated under
the Rule of 78's.
In the erent of default in the due and punctuai payment of any installment on this Note for a period of
thirty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
?3~~ this Note is found to be untrae in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR WRITTEN CONSENT OF THE HOLDEB HEREOF, SHALL SELL. ENCUMBER (E'~CEPT
~ FOR ANY MORTGAGE VF'HICN 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- ~
CUbiBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR. SUFFEB ANY LIEN TO ~
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGIi
THE 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
! due shall become immediately due and payable at the option of the holder hereof without demand, presentment .
or notice of any kind. Any failure of holder to exercise 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 event any installment is not paid when due ar .within ten ~
days thereafter. the holder may collect~ and the undersigned agrees to pay a late charge on such iustallmenY'in ~
an amount equal to 5~~ of such installment or $5, whichever is less, and in the event this Note i~
collected by (
law or through an attorney at taw or under advice thereof. the undersigned agrees to pay all costa-,of colleetion,
inciuding reasonable attorney's fees and covrt costs to the extent permitted by Florida law. r
The underaigned and all endorsers or other parties to this note jointly and severally transf~~ convey and
assign to the Holder a suflicient amount of such homestead or exemption as may be allowecl, ineluding sueh
homestead or exemption as may be set apart in hankruptcy, to pay this note in f~til~ with all cost~'of collection,
and do hereby direct any trustee in bankruptcy having posse.~sion of such homestead or exemptio~ to deliver to
` the Holder a suflicient amount of property or money set apart as exempt to pay the indebtedness evidenced
' hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for ~
; each of them, to claim any and all homestead exemptioms allow•ed by law.
; A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF '
' AMEBICA, INC., on Lot Nb 4 Ilin that certain Condominium known aa OUTDOOR RESOftTS AT NE'TTLES
` tSLAND, and on any imptovements, 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 County, Florida, in Plat Book 16, page 1:1A ~
! through 1J. ~
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