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the mortgagoi•. in consideration of the principal sum specified in the promissory note hereafter described. re-
rei~~ed from OUTDOOR RESORT S O F A M E R I C A. I N C.. a corpora
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~~f the State of Tennessee~ the Mortgagor, hereby on this~~_=day of =~}N . 192~
mortgages rt~ the Mortgagee the real property in St. Lucie County, Florida, described as:
. ~
_ Lot No. ~ in that certain condominium known as OUTD008
~ RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat 2
; recorded in the Oftice of the Circuit Court in and for St. Lucie County, s~ ~
Florida~ in Plat Book 16~ page 1:1A through 1J. 3
THIS IS A PURCHASE MONEY MOftTGAGE
As security for the payment of the promissory note of which the following is a copy :
~ Installment Note and Disciosure Statement '
~.55.52 r IN PAYMIENi OF~IIXES St Lucie County, . Florida
Ot~ ON CJ.ASS 'C INTAN618LE PERSOliaL Po0= ERI~,
pURSUAMT TO CFIAP7E~' 71•134. ACTS Of 19/1/•; ~ ~ n_ 19•~
ROGER POITRAS
For Value Received, I, otett~bL~R6lUtiAlouB~ 8i[~ ~e~ Pay to the order of OUTDOOR R.ESORTS OF
A1iERICA, INC., P. O. Box 1116. Jensen Beach~ Flor ida. 3345?, or any other place as the holder hereof may
cie.ifinate in ~vriting. the sum ofSeven thousand,nine_ hu~d~~el~iftv-five ~7, 955.52~ ~~lars.
this sum Ueinb the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
C'HARGE on the amount financed, payable in 96 equal consecutive monthly instaliments of
82 • 87 each, and the first installment to become payable on the l~l day of y~~'«~
n~ ~
i 1~_ L~, and one such installment to become due and payable on the day of each succeeding month
I until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ t,efore the final 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 instaliment on this Note for a period of
thirty (30) days, or if any statement, representation or warranty in any application for the credit evidenced
b~~ this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT ;
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT '
FOR ANY MOftTGAGE WHICH 1S SECURITY FOft THIS NOTE) OR OTHEftWISE DISPOSE OF OR EN-
CUMBEft OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFEK ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEBSIGNED AND FINANCED THROUGH
THE CREDIT 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 notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver of the rjght
to exercise the same at any other time.
Time is of the essence of this Note. In the event any instaliment 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 J of such installment or $5. whichever is less, and in the event this Note is coilected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection~
including reasonable-attorney's fees and court costs to the extent permitted by Florida law.
~ .
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
a.ssign to the Holder a sufficient amount of such homestead or exemption as may be allowed. inciuding such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full~ with all costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
the Holder a suH'icient amount of property or money set apart as exer.~pt to pay the indebtedness evidenced
hereby. or any renewal thereof, and do hereby. jointly and severally, appoint the Holder the attorney in fact for
each of them. to claim ar.~? and all homestead exemptions allowed by law.
A first moMgage for the security of the aforesaic~ inciebt,edness is retained by OUTDOOR RESORTS OF
AMERICA. INC., on Lot No.~~ that certain Condominium known as OUTDOOR RESORTS AT NE'1TLES
IS[.AND, and on any improvements. fixturea or after acquired ~?roperty udded thereon, aa shown by plat re-
corded in the Oflke oi the Circuit Court in and for St. Lucie ('ounty, Florida~ in Plat Book 16, page 1:1A
throuRh lJ. b00K~~~ PAGf ~~~17
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