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the mortgagor, in onsideration of the principal sum specified in the promissory note hereafter described. re-
ceived from OUTDOOR RESOBTS OF AMEBICA, INC., a corp~~ation orga ed and existing under the Laws
of the State of Tennessee. the Mortgagor~ hereby on thiS_~-day of , 19~,
mortgages to the Mortgagee the real property in St. Lucie County, Florida. described as:
Lcjt No. ~~in that certain condominium known as OUTDOOR, ~
~`:,t;ry s~amvs RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat ~
~-~u~ recorded in the OfiSce of the Cireuit Court in and for St. Lucie County,
att~*ed o~~s"'~ no~ ~`lorida~ in Plat Book 16, page 1:1A through 1J.
°"d ~a~~"~ ~ THIS IS A PURCHASE MONEY MORTGAGE ~
As security for the payment of the promissory note of which the following is a copy: _
Installment Note and Disclosure Statement
Q 7, 604.40 St. Luefe Countv, , Florida
~ ~'e6 / L: i9~
For Value Received. 1. we or either of us promise to pay to the order of OUTDOOR RESORTS OF
A`IERICA, INC.~ P. O. Box 1116. Jensen Beach~ Flor ida~ 33457. or any other place as the holder hereof may
designate in writing, the sum o~"eveAty-six hundred, four b~ 40/100----- ~7, 604.40 ~~~lars,
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
CNARGE on-the amount-financed, payable in 60 equal consecutive monthly installments~of
~ 126.74 each, and the first installment to become payable on the~~day of ~'L . ;
~ 19~,~, and one such installment to become due and payable on the 1~ day of each succeeding month t
~ until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
t~efore the fina! 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 installmen~ 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 tJNDERSIGNED. WITHOUT ~
THE PRIOR WRITTEN CONSENT OF THE HOLDER I-~EREOF. SHALL SELL. ENCUMBEB (EXCEPT !
FOR ANY MORTGAGE WHICH 1S SECURITY FO~t THIS NOTE) OR OTHERWISE DISPOSE OF OB EN- ;
CUMBEft OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO
EXIST ON 'I'HE AEAL PROPEftTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever
evidenced) 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
nr notice of any kind. Any failure of holder 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 pa~? a late charge on such installment in
an amount equal to 5`~~ of sach installment or $5, whichever is less, and in the event this Note ia collected by :
law or through an attorney at law or under advice thereof~ the undersigned agrees to pay all coats of collection.
including reasonable attorney's fees and court costs to the extent permitted by Florida law.
The undersigneu and all endorsers or other parties to this note jointly and severally transfer, convey and
assigm 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 possession of such homestead or exemption to deliver to
the Holder a suflicient amount of property or money set apart ~s exempt to pay the indebtedness evidenced
hereby, or any renewxi 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 m~rtgage for t~he~/
~s,/ec~rity of the aforesaid indebtedness is retained by OUTDOOA AESORTS OF ~
AMEAICA. INC.~ on Lot No.LQ~~n that certain Condominium known aa Ot1TDOOR BESOftTS AT NE'ITLES ;
ISLAND~ and on any improvements, fixtures or after acquired property added thereon~ sa shown by plat re- '
corded in tt~~ Oflice of the Circuit Court in and for St. Lucie County, Fiorida,oi ~ P1at Book 16, page I:lA
throuRh 1J. 6~CK~~`t °,~GE :~~~`i ~
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