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~ MOltTGAG E 24s50~ ~ ~
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~sar~~~._ _ ~L4s~.~Q--- ~c.-.~~s.s
the mort~;a~,ror. in ru~~sideration of the princcpal sum specifiec) in the promi,sury note hereafter descril?cd, r~
~•~•ireci f~~om OL''I'DOOR RF.SORTS OF A~11ER1CA, INC., a curporation organized and existing under the Laws
~~f the State af Tennessee. the 1liortgagor. hereby on thi.__~q_~~'~da~ of~~,~°~'Pi-YZ,~.e! 19
m<~rtg~i~,?e:~ to the :1ioz•tgagee the real property in St. I~ttcie Cuunty, Florida, aesce•ibed as:
I.ot. l~o.~'~~~~1 that c~rtain condominium knoHn as OUTDOOR
RESORTS OF A~IERICA AT NETTLES ISLAND, ~is shoH•n by plat
recorded iti the Oihce of the Cireuit Court in and for St. Lucie Co~mt~,
Florida. in Plat Book 16. page l:lr1 through ~J.
TNIS IS ~ PURCHASE Af0\EY 1tORTGAGE
a~ securit~• for the payment of the prumis.uwiy note of which the follo~cing is a cops~:
Instollment Note and Disclosure Statement
RfrEIY"EO S~r! iR P~YMENT Of TAX~
~ Z0~529.40 8eJ" L•': t~J1SS'C' INiANGIBLE ?E;:;:,~L Y'?0:'ERtr, _ St _ Lu~~~ount~ , Florida
PURSIWIT TO GiI1PiER 71-13l. ACiS OF 19I1,
NDeER PO~TRAS f~ --Q~ r~1~1~2~C_l 19~s~-
(xf~ CliiqtR OOUIfT. ST. ILCIE OQ. F1A
For Value Receivecl. I. ~~e or either of us promi,e to pay to the order ot' OUTDOOR RESORTS OF
~f ERICA. INC.. P. O. Box 1116. Jensen Beach, Flor i~a. 33457, or any~8t~ea~lace as the holder hereof may
~i
~le~i~*nate en writing, the sum ofTen thousand, five hundred, twenty-nine 10, 5~9.4~ ~l~ars.
thi. sum being the Total of Payments referred to in the I)i,closure Statement below, ~vhich includes a F~I~iANCE
t'iiARGE on the amount financed, payable in 6d equal consecutive monthl
y installments of
e_ 175.49 each, and the Srst installment to become payable on the~~_day of
~7~~7_~
19.~, and one such installment to become due and payaUle on the-! ~1=-day of each succeeding month
~~~~cii the Khole of said indebte~ness (Total of Payments) is ~aid. In the event of prepayment in full by cash
t~efore the fina! installment date. the unearned portion of the Fli~'A1V'CE CHAAGE shall be rebated under
the Ru1e of 78's.
In the e~•ent of default in the due and punctua! payment of any instaliment on this Note for a period of
thirty (30) days, or if any statement, representation or ~arranty in any application for the crPdit evidenced
E~~~ this ~Tote is found to be untrue in an3• material respect, or in the event THE Ul\TDERSIGNED, WITHOUT
THE PRIOR WRITT~K C.ONSE\'T OF THE NOLDER HEREOF. SHALI. SELL. ENCUMBER (EXCEPT
FOR A1V'Y MORTGAGE tiVHICH 1S SECURITY FOft THIS NOTE) OR OTHER~VISE DISPOSE OF OR EN-
CliAiBER OR COMhiIT AI~Y RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
E~IST ON THE REAL PROPERTl' PURCHASED BY THE U~iDERSIGNED AND FINANCED THROUGH
THE CREDIT E~'IDENCED BY THIS :~OTE or in the event of ihe incompetency, in.~sol~ency (howsoever
e~-idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
clue shall betome immediately due and pa~able at the optian af the holder hereof ~ithout demand, presentnient
or notice of any kind. Any failure of holdsr to e~cercise said option shall not constitute a waiver of the right
to exercise the same at any other tin~e.
Time is of th~ essence of this \'ote_ In the e~ent any instailment is not paid when due or within ten
day~s thereafter. the i~older may collect, and the undersigned aKrees to pay a late char~e on such instatlment in
an amount equai to 5`,-~ of such installment or $5, whiche~•er i; ie~s, and in the e~ent this Note is colie~ted by
ia~.• or thmugh an attorne~• at law or under advice thereof, the ander~i~ned agrees to pay all costs of cc~llection,
including reasonable attorney's fees and court casts to the extent permittec~ by Florida law.
The undersigneci and a:l endorsers or other parties to thi~ note jaintl~ and se~erally transfer, convey and
ass;gn to the Holder a sufficient ameunt of such homestead ur exemption a~ may be allowed, including such
homestead or exemption as may be set apart in i,ankruptcti, to pay this note in full, ~vith all costs of collection,
d~~d do hereby direct any trustee in bankruptcy ha~~ing po.se:.ion of such homestead or exemption to deliver to
ihe Holder a s~ffi'icient amount of property or money .et apart a~ exempt to pay the indebtedness evidenced
hereby, or any reneK~al thereof, and do hereb~, jointly and se~•eralh•, appoint the Holder the attorney in fact for
each ~f them, to claim any and all homestead exemptions xllo~ced by la~.
A first mortgage f~r the security of the aforesaid indebt~clness is retained bp OIiTDOOR RESORTS OF
~:~iERICA, INC:., on Lot N hat certain Condominium known sa OUTDOOR RESORTS A".' N~TTLES
I~LAND, and on any impro~ements, fist~~res or after acquired property added thereon, as shown by plat re-
cnrded in the Office of the Circuit ('ourt in and for St. I.t~cie ('~,rjnty, i~l~ri~la. in Ylat RM~k 1R. nave l:lA
throufih 1J. U R~~~ r~~
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