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~ MORTGAGE 2~~~5
~'/LAN~+ ~C . Q 1~lOl?~ AM IC1
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O M~S uJ/Fc . 1 +S i~1~q/~?~'t~~
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thc~ murt~,?~~?~~r, in con,icieration of thc princip~?I ~un; specified in the promissur~• note j~ereafter descril~ed. re-
~~t•i~•ed from OL'TI~OOR RFSORTS OF A~iERI('A, I\'('., a curp~?cation orgxniz~.•ci xnci'existing under the I.aws
~?~v ~~/~'~QE'iar--, 19~.
~~f the State of Tenne~~ee, the Dlortg~i~;or, hcreb~• on thi~_~Q_ __da~~ oL-~~°_
m~~~•t~;ii},rl'1 to the :~tortga~;ee the real propert~• in St. Lucie ('uunt~~, Florida, descriLecl as: _
Lut \0._1 in that certnin condominium known <<s OUTDOt~R
RESORTS OF A~IEE:ICA AT \ETTLF.S 1SLA\D, as sho~~•n by plat
recorded in the Oflice of the Circuit ('ourt i~i a~ul for St. Lurie Count3~,
Florida, in Plxt Rook 16, page 1:1A through IJ.
THIS IS A Pt!RCHASE 110\E1' 110RTG~GE •
securitr for the pa~•ment of the promi.~ory note of ~rhich the follo~cin~,? is a cop~•:
Installment N and Disclosure Statement
~ o~ T~
~ 6434.40 DIJE oit ~'C St. Lncie Connt~~, Florida
° _ ~aume~r3y 5tam~g ~1NIT ~0 ~tER 71•134. ~C~S Oi 1l1L~(~
af~ued ori~~,a~ R~ Yf. WCIE CO,~ H~ --`-`-~E
/~'!~6_~1~. 191~
~ cancelteq ~T ~
F~n• Value Recei~•ed, I, ~~~e or either of u~ prumise tu pay to the order of OUTDOOR RESORTS OF
.-~~1~:I2IC~. INC., P. O. Box 1116, Jensen Beach, Florida, 33457. or any other place as t~he oldOer hereof may
~l~~~i~,=nate in ~~•riting, the sum of_Six Thansand FouY' Huttdrecl _ Thix'ty F~r_ b( ) Dollars,
thi~ sum bein~; the Total of Payments referred to in the I)isclosure Statement below. which includes a FINANCE
~'IIARGE on the amount financed, pa~~able irL--__ 60 ________-_,equal consecutive monthly installments of
~__~~~4 -each, and the first. installment to become pa~ able on the~ S/ day ofLlC~~2`/h3Fi~~
1 and one such installment to become due and pa~~aLle o?~ the~y day of each succeeding month
; tu~til the «~hole of said indehtednesc (Total of Payments) is paid. In the event of prepayment in full by cash
j hefure the final instaUment date, the unearned portion of the F'I:~'AI~CE CHARGE- shall be rebated under
i the Rule of i8's.
~
s
~ In the e~•ent of default in the due and punctual pati•ment of at~y installment on this Note for a period of
thirty (30) days, or if an~~ statement, representation or ~•arranty in any application for the credit evidenced
~ f~~- this Note is found to be untrue in an~• material respect, or in the event THE UNDERSIGNED, WITHOUT
~ TFiE PRIOR ~`'RITTEN CONSF.NT OF THE HOI.DER NEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHER~'VISE DISPOSE OF OR EN-
('L~biBER OR COMM[T ANY RREACH OF THE biORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
F.IIST Oh' THE REAL PROYEKTY PURCHASED BY THE L';~'DERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED R~' T1IIS ~'OTE or in the e~~ent of the incompetency, insolvency (howsoever
e~•idenced) or bankruptc~• of an~ one or more of the under~iKned, then the entire remaining indebtedness then
due shall become immediatel~- due and pa~~able at the option uf the holder hereof H•ithout demand, presentment
~~r- notice of any kind. Any failure of holder to e~cercise said option shall not constitute a w~siver of the right
' to exercise the same at an~• other time.
Time is of the e,sence of this \'ote. [n the e~•ent an~~ in.t~sllment is not paid when due or within ten
days thereafter, the holder may collect, and the undersi~,?ned agree, to pay a late char~e on such installment in
~ x~i amount equai to 5'~ of such installment or ~5, ~hiche~-er i~ less, and in t.he e~ent this Note is collected by
~ law or through an attorney at laH• or under advice thereof, the under~iKned agrees to pay all costs of collection,
" includinK reasonable attorne3's fees and court costs to the extent permitted by Florida law•. '
~
a;
~ The undersigned and all endorsers or other partie. to thi~ n~?te jointly and ~e~•erally transfer, convey and
~ a~~i~;n to the Holder a~uf~'icient amount of such homestead or exemption as may be altowed, iucluding such
homestead or exemption as may be set apart in hankrifptc~•, tu pa~~ thi~ note in full, with all costs of collection,
~ and do hereby direct any trustee in hankruptcy ha~~ing posse~~i~ai of such homestead or exemption-~o deliver to
~ the Holder a~ufficient amount of propertv ur money set apart xs exempt to pay the indebteclness evidenced
~ hereby, or an~• rene«•al thereof, and do hereb~•, jointly ~ill(~ se~-erall~•, xppoint the ~iolder the attorney in fact for
~ each of them, to claim any and all h~~mestead esemptions all~n~~ed h}• la~r. '
~
= A first mortKa~?e for the security of the aforesaid indel,teciness is retained t,~• OUTI~OR RESORTS OF
a:1'IERICA, INC., on Lot tic~~~ in that certain Condominium known aa OliTDOOR RESORTS AT NETTLES
ISLANI), and on any improvements, tixtures or after acquired pmpertp added thereon, as shown by plat re-
~ ,
~ rorded in the Of~ice of the Cireuit ('~urt in and for St. Lucie ('c~untp, E lorida, in Plat Bouk 16, page 1:1A ,
throufih 1J. '
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