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c~4A~ -3" s~ _ MORTGA`GE ~c~ ` 3~~
c~,~ ~A c~"oN ~ s C^~, s w, r~~ 2~~~us~~/ ~-~7
the mortgxgor. in consideration of the principal sum specific~d in the promissory n6'te-fieceafter. described. re-
~E~i~•c~ci from OUTDOOR RESORTS OF AMERICA. ING., a corpor~tion organized and existing under the LaHs
ut' the State of Te~~nessee. the Mortgagor~ hereby on this_ ~`~-da3• of_ QCG~~ ~'~`'-1-~ , 19 ~
m~,rtgages to the riortgagee the real property in St. Lucie County. Florida. descriUed as:
Lot No.~~~~rin that c2rtain condominium known as OUTDOOR
RESORTS OF ADiER1CA AT NETTLES ISLAND, as shown by plat
recorded in the Of~ice of the Cireuit Court in and for St. Lucie County.
Florida. in Plat Bouic 16. page 1:1A through 1J.
THIS IS A PURCHASE 1lONEY MORTGAGE
securit~~ for the payment of the promissory note of which the follo~ving is a copy:
Installment Not~ and Disclosure Statement
~ C1 ~ ~ ~ RE~EiYED ~ IN PAYMENT OF TAXfS ~ ` . Florida
~l£ Oi: C~J1SS'C ~?7TATIGIBIE ?E=SJ'~:l S'~'.OPERIY. n
pURS11111fi TO C11u''« 71-1?4. ACTS OF 19)~~~ ~~M ~C11~- I'~~ 19
ROGER POITRAC
For Value Received, I, we~„t~ce~lAc~K o~uttTS~'
~~SO~ a to the order of OUTDOOR BESORTS OF
a`lER1CA. INC.. P. O. Box 1116. Jen``
s"
en Beae'F'i.'r`~oida, 4, or any other place as the holder hereof may
de~i~nate in writing. the sum ofSE?EN ~Na~~SA~/~.~~dl~7 ( • v ) Dollars.
th:. ~um being the Total of Payments referred t~ in the Disclosure Statement below. which includes a FINANCE
cxaRGE on the amount financed. payable in- equal consecutive monthly installments of
~___~~1L •~each, and the first installment to become payable on the~-day of ~C ~ .
'I l~1_ and one such installment to become due and payable on the~ `~~day of each succeeding month
` u»til the vehole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
t:efore the fina} installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of 78's.
In the event of default in the due and punctual payment of any installment on this Note for a period of
thirty (30) days. or if any statemeni, representation or warranty in any application for the credit evidenced
1~~• this Note is found to be untrue in any material respect. or in the event THE UNDEBSIGNEV. WITHOUT
T~iE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELI.. ENCUMBER (EXCEPT
FOR Ai~Y MORTGAGE WHICH 1S SECURITY FOB THIS NOTE) Oft OTHEftWISE DISPOSE OF OR EN-
CL'P+~iBEA OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT QR SUFFEB ANY LIEN TO
E~IST ON THE REAL PROPERTY PURCHASED BY THE L~NDERSIGNED AND FINANCED THROUGH
THE CftEDIT 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 iiotice of any kind. Any failure of holder to exLrcise 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 evenf any installment is not paid when due or within ten
~ days thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in
~ an amount equal to 5~~~ of such installment or $5, whichever is less, and in the event this Note is collected by
law• or through an attorney at lsw or under advice thereof, the undersigned agrees to pay all costs of collection.
~ includin~ reasonable attorney's fees and court costs to the extent permitted by Florida law.
~ The undersigned and ali endorsers or other parties to this note jointly and severally transfer. convey and
a~si~n to the Holder a sufficient amount of such homesteaa or exemption as may be allowed~ includinR su..h
homestead or exemption as may Ue set apart in bankruptcy, to pay this note in fu11, with all costs of collection,
" and cio hereby direct any trustee in bankruptcy having posses~ion of such homestead or exemption to deliver to
~ the Holder a sufficient amount of property or money set apart as e~cempt to pay the indebtedness evidenced
hereb}. or any renewal thereof. and do hereby. jointiy and severally, appoint the Holder the attorney in fact for
each of them, to claim ar~~ and all homestead exemptions allo~ed by lav~.
A first mortgage for the se~urity of the af~resaid indebtedness is retained by OLJ'TDOOR RESORTS OF
ahiERICA, INC., on Lot No~~ that certain Condominium known aa OUTDOOR RESOKTS AT NETTLES
ISI,AND, and on any improvements, fixt~.~res or after acquirecl property added thereon, as shown by plat re-
corded in the Office of the Circuit ('.~urt in and for St. Lucie County, Florida. in Plat Book 16, va¢e 1:1A
~ .hrouRh 1J.
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