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~-17. ~rse ~l8 ~S~ ,
~hE~ mortgag~r. in consideration of the princip.~l sum specified in the promissory note hereafter describeci. r~ '
~~t~i~•eci from OUTDOOR RESORTS OF AMERICA. INC., a corporation organizetl unc~ esisting under the Laws
~~f thc State of Tennessee. the Mortgagor, hercby on this_~_day of b~- 19..~.
mu~•tgaKes to th~ 1lurtkage~ the redl ~ruperty in St. Lucie County, Florida, described as: `
. Lof No._l~`~n that certain condominium known as OUTDOOR
RESORTS OF A1~iER1CA AT h'ETTLES ISLAND, as shown by plat
recorded in Lhe OAice of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16~ page l:lA through 1J.
THIS IS A PURCHASE 1tiONEY ~tORTTAGE
security for the pa+yment of the promissory note of which the foltowing is a copp :
Insto~im~nt Note and Disclosure Stotement
~ /
~ • ~ ~ RfCENEO t- lG
~ IN PAIIRlEtIT OF TAXES S?% ' ~G/ ~i L-f~
f! ~T C~; C1ASS 'C lNTM16181E PE'='v?:~l P~OPER{Y. . Florida
pURSIIANT 10 GIlIPTER 71•134. JY~TS Of ly)i.
~~T~s ~ o.~ .~c. 19 ?a
CIENK CiRW1T COURT. ST. UlClf 00~ FlA
For Value Recei~ ed. I. ~ e or either of us prom ise to pay to the order of OUTDOOB RESORTS OF
a~1ERICA, INC.. P. O. Box 1116. Jensen Beach. Florida. 3345?, or any ether place as~tl~~o~ld~~reof may
c?e:i~;nate_ in ~+riting, the sum o~~ 7f~~~itl~~IVd/l6~ fTN~ ~/.itrt ( )~~~a~,
thi, ~um being the Total of Payments referred to in the Disclosure Statement below~ whieh includes a FINANGE
('HARGE on the amount financed. payable in ~O'~ equal consecutive monthly installments of
_~~~~~each. and the first installment to become payable on the~~
r
day of
~~3
19 and one such installment to become due and payabte on the___~day of each succeeding rr.onth
~,~~tii the v~hole of said indebtedness (Total of Paymer.ts) is paid. In the event of prepayment in full by cash -
hefore the fina! instailment date, the unearned portion of the FI:1TAI~TCE CHARGE shall be rebated under
the Rtde of 78's.
In the event of default in the due and punctual payment of any installment on this Note for a period of
t}:irty (30) days. or if any statement. representation or vearranty in any application for the credit evidenced
t,~• this NoEe is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT
THE PRIOR WRIITEN CONSE\T OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT
FOR ANY ~IORTGAGE WNICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
t'L?MBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PEEMIT Oft SUFFER ANY LIEN TO
F.lIST ON 'FHE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
e~•idenced) or bankruptcy of anyone ar more of the undersigned, then the entire remaining indebtedness then
ciue shAll become immediately due and payable at the option of the holder hereof without demand, presentrrient
~r notice of any kind. Any failure of holder to exercise said option shatl nat constitute a waiver of the right
to exercise the same at any other ti.ne:
Time is of the essence of this hote. In the e~•ent anS installment is not paid when due or within ten
~ayc therp~fter, the holder may collect, and the undersigned ~grees to pay a late charge on such installment in
an amount equal to 5 i~ of such installment or $5, whiche~er :a less, and in the event this Note is coIlectet3 by
law or through an attorney at law or under advice thereof. the undersigned agrees to pay all costs of collection,
including reasonabJe attorney's fees and court costs to the extent permitted by Florida law.
The undersigned and al] endorsers ~r other parties to this note jointly and severally transfer. convey and
assign to the Holder a sufficient amount of such homes~ead or exemption as may be allowed, including such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full. with all cos~4 of collection,
and do hereby direct any trustee in t~ankruptcy having posses~ion of surh homestead or exemption to deliver to
the Holder a suflScient amount of propertl• or money s~t apart as exempt to pay the indebtedness evidenced
hereby, or any renewa! thereof, and do heret;y, jointly and severally, appoint the Holder the attorney in fact for
each of them, to claim any and all homestead exempc~ns ~'toN•ed by ld~.
A first mortgage for the security of the aforesaid indef~tedness is retained by OIITDOOft ftESORTS OF
~?tiiERICA, INC., on Lot ~iq~~ in that cer:air. Conderriiniu~n 4nown as OUTDOOR RESORTS AT NETTLES
[SGAND, and on any improvements, fixtures or after ~cquireci pmperty added thereon, a.3 shovr•n by plat re-
corded in the Office of the Cireuit Court in artd fer •Si.' Lucie Countv. Florida, in Plat Book 16, page 1:1A
throuRh 1.1_
aoox 211 ~A~: ~4 4
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