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~ M O R T G E 25 806
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the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. re~ ~
ceived from OUTDOOR RESOBTS OF AMERICA. INC.~ a corporation organi and existing under the ws `
of the State of Tennessee, the Mortgagor. hereby on this_~~ day of ~ ~ ' , 19 ~y
mortgages to the Mortgagee the real property in St. Lucie unty, Florida, described as: ~c
~
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Lot No j in that certain condominium known as OUTDOOR v:_ S
O~d~
:,.;~T,Enrzry StampS $ESORTS OF A ERICA AT NETfLES ISLAND, as shov~m by plat 5 ~e~~~ts'~~' ~4~
,x"; ~oce ~o~~ in the Office of the Circuit Court in and for St. Lucie County ~~,1~~~•
and c~~~euea Florida, in Plat Book 16. page 1:1A through 1J. ~ ti~`~ S~•~ r
THIS IS A PURCHASE MONEY MORTGAGE ~~~'``~o~o~~~~~~',, ..L~~
As security for the payment of the pmmissory note of which the following is a cop~~~ ~~~'J +
Instaliment Nofe and Disclosu~re Statement
~ : ~ r p~~ . ^t Lucie Co~int~~ ~ Fiorida
_sJi~sl/~/i~i(,}~ v~ o~ 19_L~
For Value Received. I. 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 of ~"`~"'n thoti.;~n :^ix hun~r~~ Lo~~r &r0/10~J~ 7, 604.Q~ Dollars.
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
payable in ~ ~ equal consecutive monthly in 1 ments o
CHARGE on the amount financed~
, g 12 6• ~ c----' each, and the first installment to become payable on h~day of ~L
~ 19 and one such installment to become due and payable on the day o f eac
h succ e
e
ding mon t h
/ l
~ unfil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in fu l l by cas
h
t~efore t he fin a
1 ins ta
llment date, the unearned portion of the FINANGE CHARGE ahall be rebat e
d un der
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 vFarranty in any -application for the credit evidenced
uy this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOiJT -
THE PRIOK WRITTEN CONSENT OF THE HOLDEB HEREOF, SHALL SELL, ENCUMBEA (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OB EN- _
CUMBEft Oft COMMIT ANY BREACH OF THE MORTGAGE OR PEftMIT OR. SUFFEB ANY LIEN TO '
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEKSIGNED AND FINANCED THROUGH
'?'I-TE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howscever
evidenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness tfien ~
due shall become immediately due and payable at the option of the holder hereof witho«t demand, presentment i
or 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. t
,
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 J 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 aU costs of collection,
including reasonable attorney's fees and court costa 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 fuU, with all costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or excmption to deliver to
~ the Holder a sufficient amount of property or money set apart as exempt t~ 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 ai:;~ and all homestead exemptions allowed by law.
A first mortgage for the u"ty of the aforesaid indebtedness is retained by UL'TD00B BESOBTS OF
AMERICA, INC., on Lot No in that certain Condominium known as OUTDOOR RESORTS AT NE'ITLES
ISLAND, and on ~y improvements, fixtures or after acquired property added tliereon, as shown by plat re-
cor~ed' in the Of~ice ~of the Circuit Court in and for St. i.ucie County. F' *i*I at (16. page 1:1A
throug`. 1J. ~~~K~~~-°`GE~i73 '
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