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rht~ ~uurt~,~a~,•ur. i~i col2~icltaration of thc~ princi~,al sum speclier~ ui the }»Ynni.sor~• note he~'eafter describecl, re-
~~~•i~•~cl from OL'TI~OOR RF,SORTS OF aD1ERl('A, 1\l'., a rui•~wrnt}u:i or~?anized an~f existing under the La~~s
~~f the Stxte of Tennes~ee, the 1lortgagor, hereU~- on thi. _ci•~~• .~L ~3_~i2__ 19~~
m~~rt~;.i~e~ t~~ the `I~~rt~;agee the re~?I pmpert~• in St. I.ucie i'u~;ntr, Fl~?i•ida, describecl as:
I.ot :~'o.~~~_ ~ in thut certain condomi~iiam ICiIOR'il as OL'TDUOR
RESORTS OI~' ~1•IF.I:It'~1 AT tiF,T'CLE~ I~I.A\n, a~ ~hu~~•n bs• pl~it
reco~•deel in the Oflice uf the Circuit l'uurt i~i an~l foi• St. Lucie C~~wit~•.
Fl~~rici~, in Plat Rc~k 1G, p.i~e 1:1~ thruu~,•h 1.1.
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` THES I~ !'l?NE'HASE 110\F.l' .110RTG.1G~:
a: serurit~• for the p~~•meut of the pi•omi,.<?rti~ tiote of irhieh the fulli?u•ing iti a cup~•;
instollment Note and Disclosure Statement
. 9 ~ ~ ~ ~ ~o IN PAYMEM OF TAI~ ~
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:---C- ~ c~!~1_ Florida
- DiIE ON CIJISS'C' INTANGIBIE PERSO!IAl PROPERIY, .
PURSUAMT TO CNAP'ro )Z-23-i. ACTS OF ly)l. ~ ~
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ciE~ac c~t~pIT CJu f, sr. ~,K;~
F~~r Value Receirecl, l, ~~-e or either o~ u~ pi-t,n~ i~' pa~• to the order of OUTUOOR_ RESORTS OF
.a.liF.Rl('~, I\C., P. O. Rox l 116, Jensen Beach, Flor ida, 3345i, or any other place a~ the holder hereof may
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~i~~:ign.ite in ~~•ritin~;. the sum o~N~~i+tt~Df (~vNZ~E 7~j~,~/l/tNC_ -~--~o%~-a_._ ( li~~Ca-) Dollars,
thi~ siim bein~,? the Totai of Pas•ments referred to ir~ the I)i.closure Statemeni Ueloti~•, ~+hich includes a FINANCE
~~tl aRGE on the amount financed, pa3•a61e ir~ ~C equal consecuti~e monthiy instaltments of
c S r'
?_~-~5~ _y _1__each, and the first installment to become pa~•a1,le on the ~_~__day of ~/'4 N• ~
1~ 7-3 and one such installment to become due and papa},le on the__. S~da~• of each succeeding month
until the ~c-hole of ~aici indebtedne~. (Tota] nt' Pa~•ments> is paid. In the e~•ent of prepa3•ment in full by cash
~~E•f~~e-e the fina! itlad,~i~rt~c~~3n~le, fhe i~nearned portion of the Fl:~:~\CE C'HARGE shall be rebated under
the Rule of 78's. at~n~a cr:,~~,3~ noce
In the e~•ent ~~c~~`~`~u'~ in the due and pu~ictuat pa~•rnet~t of any installment on this Note for a period of
thirty (30) ciays, or if any statement, representation or ~~•arrant3• in an~~ application for the credit evidenced
this Note is found to be untriie in an}• material respect, or in the event THE UiV'DERSIGNED, WITHOUT
TFIE PRIOR ti~'RITTElti' CONSE~T OF THE HOLUER NEREOF, SHALL SELL, ENCUMBER (EXCEPT
FnR ANY MORTGAGE ~VNI('H 1S SEC'URITY FOR THIS NOTE) OR OTHER«'ISE DISPOSE OF OR EN-
('L'~BER OR CO~i111IT ANY RREACH OH' T~IE 1~iOHTGAG~: OR I'ER~i1T OR SUFFER ANY LIEN TO
~:IIST OI~' THE REAL PROP~:RT~' PL'RCHASF,D BY T1iE ti\DERSIG\F.D ANI~ FI~IANCED THROUGH
`i'I~E CREDIT E~'InE~'('Ei) BY 7'}i15 NOTE or in the e~-ent of the incompetenc~•, insol~ency (hoWSOever
E~.•idenced) or bankruptcy of an~•r>ne rn• mc~re of the under~i~:ned, then the entire remainink? indebtedness then
d~~e shall become immediatel~• due and pa}~af~te at the optiun ~~f the hotder hert~ff «•ithout demand, presentment
ur notice of an~• kind. Any f~iture of hotder to exercise ~.~id option shall not constitute a~s•aiver of the right
t~~ esercise the same at any oihee• timc:.
Time is of the essence of thi~ \~~te. In the e~~ent an~- in~tallment i. n~t paid ~~•hen due or within ten
days thereafter, the holder ma~• c~,llect, and the unciersi~.rned agree. to pa~ a late char~,~e on ~uch installment in
xn amount equal to 5'; of such iI1~Latlment or ~5, ~rhirhe~~er i. lE:.:, and in the PL•ent thi, Note is collected by
la«• ar throu~h an attorney at laK~ or uncler ad~~ice there~~f, the under~igned a~,~rees to pa~~ all costs of coUection,
includinK reasonable attorne~~'s fees and cotu•t custs to the extent permitted b}~ Florida la~~~.
The undersigned and all endorsei•. or other partie: tu thi: note iointl~• and se~-erail~- transfe_~, convey and
a~sign to the H~ider a sufticient amou~rt ~~f ~urh home~tead ur exemption a~ m~it• 1?e aNuH~ed, including such
h~mestead or e~emption as may be set apart in hankruptc}•, tc~ Fr,e~• thi. note in f~~ll. »•ith a11 costs of collection,
and do herehy direct any trustee in t~ankraptc~• hacing p~~~~e~:it?» ~,f ,uch hume;tead ~r eremption to deliver to
the Nolder a~uffiicient amount of prnpertp or moneS• ~et ~i~~art a• exempt to pa~• the indebtedness e~idenced
hereby, or an~• rene~cal therec,f, and du herel~~-, jointl~ and ~~~i~c:r:~ll~-, app~~int the Hvlder the attorney in fact for
each of them, to claim am• and all humestead C~E'It1~t1UI1~ ~~ll~~~~-ed h~• la~~•. '
A first mc,rt~,~a~,~e for the seet~rity c~f the afuresaid inrle!,tc~lnt~:: is retained 1,~• OliT1K)OR RESORTS OF
:~JiF:RICA, INC., on I~t tio:~~L`~.in that certain Condvmirlii~ni kn~wn sa UliTllOOR 1tESORTS AT NETTLES
ISt,ANI), and on any impro~~ement., fixtares or after acyuired pr~?pert3 added thereun, as shown by plat re-
r~>rded in the O~1ice of the C'ircuit ('~>urt in ancl f~~r tit. I.ucie ('~,tu~t~•, ~lorida, in Plat Book 16, page 1:1A
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