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the mortga o, in consideration of the principal sum specified ip th~ promis~ory note hereafte described.
~•ri~~ed from UTDOOR RESORTS OF AMERICA~ INC.. a corporation organized d existing under the I,~}~ ~
uf the State of Tennessee;~he Mortgagor. hereby on thi d~v of ~
mortgages to the Mortgagee the real property in St. Lacie unt~y. Flor~du,. described as: y~.~~~, ~o, _
~'~?Q ~S~
g~ `c-
Lot No.- ' that certain condortiinium known as OUTDOOR 3/ Q~ d1;
amps RESORTS OF AMERICA AT NETTLE3 ISLAND, as shown by plat 4~e`~'~•~~~~
~~ts recorded in the Office of the Cireuit Court in and for St. Lucie County~ ~ 1p~' ~ ~
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-~-a"~ ~can~E,~~ Florida~ in Plat Baok !6. page 1:1A through ld. t~, ~
THIS IS A PUKCHASE MONEY MORTGAGE ~~o~~~tP' j l~
s e c u r i t y f
o r t h e p a
y m e n t o f t h e p r
o m i s s
o ry n o t e o
f w h i c h E
h e o l l o
w i n g i s a c o p
y~~~,
o_~ ~
Ins ta l lmen t Note on d Disc losure Statement~~~~~~
g_$~617.92 3t. Lucie County;
, Florida
19~
For Value Received, I, Ke or either of us promise to pay to the order of OL'TDOOR RESORTS OF
~`iERI('A. INC.. P. O. Box 1116. Jensen Beach, Florida, 33457. or any other place as the holder hereof may
cle.ifinate in writing, the sum of
giaht thousg~six seveut~een & 92/100 617. 92 ~ Dollars,
thi, sum being the Total of Payments referred to in the Disclosure Statement below~ which includes a FINANCE
('f~ARGE on the amount financed~ payable in 96 Qqual consecutive monthl
y ins Ilme s of
~_8~~7~ each, and the first installment to become payable on thp E~" day of . ,
1~1_~, and one cuch installment to become due and payable on the-_lst__day~of each suc ing month
t~~itil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
1~efore the final instaliment date, the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of ?8'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
t~~~ this Note is found to be untrue in any material respect, or in the event THE UNDEBSIGNED, WITHOUT
'I'HE PRIOR WRITTEN CONSENT OF THE HOLDEft HEREOF~ SHALI~ SELL, ENCUMBEB (EXCEPT
FQR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN•
('UMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFE~t ANY LIEN TO
EXIST 4N THE REAL PROPEftTY PUBCHASED 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 or ~.o;e of the u::d~rsignec3, then ±2:~ entire remaining indebteeiness then
due shall become immediately due and payable at the option of the holder hereof without demand. presentment
i or notice of any kind. Any failure of holder to exercise said option shail not constitute a waiver of the right
to exercise the same at any other time.
i 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 installment in
an amount equal to 5~ of such installment or $5. whichever is less, and in the event this Note is coltected by
law or thmugh 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
assign to the Holder a suf~'icient amount of such homestead or exemption as . may be atiowed~ 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 possession of such homestead: or:exemption .to deliver to ~
the Holder a suti5cient amount of ~property or money set apart as exempt to~ paq ~the indebtedness evidenced
hereby. or any renewal thereof~ and do hereby, jointly and severally, appoint the Holder the attorney in fact for
i each of them, to claim a~.~? and all homestead exemptions allowed by law. •
A first mortgage for the s urity of the aforesaid indebtedness is:retaiqed by OLJTDOOft ItESORTS OF
AMERICA, INC., on Lot No G~:~- r
r" that certain Condominium known as OUTDOOB RESORTS AT NE'ITLES
ISi,AND, and on any improvements, fixtures or after acquired proFerty added thereon, as shown by plat re-
corded in the Oflice of the Circuit Court in and for St. Lucie Gounty, Florida. in Plat Book 16, page 1:IA
through 1J. 0 R
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