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~ M O R T G A G E 254'7'76
\w _ Earl M. Foote, 724 Pinehurst Blvd., Kalamazoo, Mich. 49007
the mcrtgagor, in consideration of the principal sum specified in the promissory note hereafter described, re
ceived from OUTDOOR RESORTS OF AMERICA. INC.. a corporation organized and existing under the s
.
of the State of Tennessee, the Mortgagor. hereby on thisl~th _day of January 1~
mortgages to the Mortgagee the real property in St. Lucie County, Florida~ described as: QP~~~~
Lot No. 466/II in that certain condominium known as OUTDOOR C~` ~,~°.~s ~
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RES4RTS OF AMERICA AT NETTLES ISLAND~ as shown b
o~;~x2d ,,;,,~.'.;,3~ n~~a recorded in the Oflice of the Cireuit Court in and for St. Lucie County.'~~ ~0~0~~~a~'S~J~~~`"
c~:n<<,i~ Florida. in Plat Book 16. page 1:1A through 1J. ~ y,~~~~Q S~•
THIS IS A PURCHASE MONEY MORTGAGE G~~~J~~~
As security for the payment of the promissory note of which the following is a copy~,~ ~ ~ t
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~nstollment Note and Disclosure Statemenf 4~`~
q6,240.00 St. Lucie County
Florida
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- ~ January 13 1973
For Value Received~ I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF
AMERICA. INC.~ P. O. Box 1116, Jensen Beach~ Flor ida~ 3345T. or any other place as the holder hereof may
desi~nate in writing, the sum of Six thousand,two hundred, forty &~to/100 ~ 6, 240.00~ ~~~a~~
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
CHARGE on the amount financed~ payable in 96 eqnal consecutive monthly inatallments of
~ 65.00 each, and the first installment to become payabte on the lst day of ~reh
.
19 73 . and one such instaliment to become due and payable on the lst day of each succeeding month
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in fult by cash
t,efore the. final installment date, the unearned portion of the FINANCE CHAAGE 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 statement, representation or warranty in any application for the credit evidenced
by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR WftITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOA THIS NOTE) OR OTHEBWISE DISPOSE OF ~R EN-
CUMBEK OR COMMIT ANY BftEACH OF THE MOftTGAGE OR PEBMIT OR SUFFEft ANY LIEN TO
EXIST ON THE REAL PROPERTY PUBCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insoivency (howsoever
~ evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
i 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 tiolder to exercise 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 event 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 instavment 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 law or under advice thereof~ the undersigned agrees to pay all costa 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 `
assign to the Holder a sufficient amount _of such homestead 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 costs of collection,
and do hereby direct any trustee in bankruptcy having possessio-: of such homestead or exemption to deliver to
the Holder a suft3cient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof~ and do hereby, jointly and severally, apE,oint the Holder the attorney in fact for
each of them~ to ciaim ar~? and all homestead exemptions allowed by law.
A first mortgage for the security of the aforesaid indebtedness is rett~ined by OUTDOOft BESOKTS OF
i AMERICA, INC.~ on Lot NaF~66 II~n thati certain Condominium known v OUTDOOB RESORTS AT NETTLES
i ISLAND, and on any improvements, fixtures or after acquired properEy added thereon, as shown by plat re-
corded in the Oflice of the Circuit.("ourt in a~d for St. Lucie County~ I~'lorid~ Rn~Pl~t~ Book 16, page 1:1A
through 1~. 600K~~'~ F,',GE ~~c~
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