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~ M O R T G G E 254818
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the mortgxgor, in consideration of the principal sum specified in the promissory note hereafter described~ r~
~•E~i~•ed frnm OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the Laws
~~f the State of Tennessee~ the Mortgagor, hereby on this_~~-day of M~~ , 19~
m~~rtgxges to the Mortgagee the real property in St. Lucie County, Florida~ described as: . ;
S . ,S,t.y.-':
i`4~'Dy,,, , 1
ppWmentary S~~"~? Lot No. ~n that certain condominium known as UUTDOOIt
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ioal nota RESORTS O AMERICA AT I3L'TTI.ES ISLAND, as shown by plat
recorded in the Office of the Circuit Court in and for St. Lucie Coun~? ~b ~,~,~~'~S
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R 11- '~tr~~\~.
~ Florida, in Plat Book 16, page 1:1A through 1J.
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THIS IS A PURCHASE MONEY MORTGAGE ~~~t~ ~ cX~'~~E~ t. S~
A~ security for the payment of'the promissory note of which the fo l lowing is a c~`~~5~~ c\~~C ~"t
- Instailment Note and Disclosure Statement ~ ~
11, 933. 76 St. Lucie County , Florida
19
For Value Received. I. wa or either of us promise to pay to the order of OUTDOOR -RESORTS OF
:~~tERICA. INC.. P. O. Box 1116, Jensen Beach. Flor ida. 33457. or any other place as the holder hereof may
c;c~:i~nate in writing, the sum o~leven thousand nine thirtv-three 76/1OQ11.933. 7Fj ~~1a~,
t}~iti ,i~ni ~eing the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
('~IARGE on the amount financed. payable in-9Fi e9ua1 consecutive monthly installments of
~_124. ~l each, and the first installment to become payable on the?
~~day of .
1~ Z~, and one such installment to become due and payable on the_lst day of each succeeding month
II until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ l,efore the fina! 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 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 UNDERSIGNED. WITHOLJT
THE PRIOR WftITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL. ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
C'L'MBER OR COMMIT ANY BKEACH OF THE MORTGAGE OR PEftMIT OR, SUFFER ANY LIEN TO
EXIST ON THE REAL PftOPERTY 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 ~
r~r notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver of the right
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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, ~nd the undersigned agrees tn pay a late charge ~n such installment 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 costs of collection,
including reasonable attcrney's feea and court costs to the extent permitted by Florida law. V
The undersigned and all endorsers or other parties to this note jointly and severally transfer. convey and ~
~~sign 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 not:~ in fu11. with all costg of collection,
and do hereby direct any trustee in bankruptcy having possession of such nomestead or exemption to deliver to
the Holder a sufticient 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, appoint the Holder the attor~3? in fact for
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each of them, to claim a~ and alI homestead exemptions aliow~ed by law. . ,
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A first mortgage for the s~ity of the aforesaid indebtedness is retained Uy OUTDOOB RESOftTS OF ;
~MERtCA, INC., on Lot No~in that certain Condominium known sa OUTDOOK RESORTS AT NEITLES
ISI,AND, and on any impmvements, fixtures or after acquired pmperty added thereon, as shown by plat re-
corded in the Of~'ice of the Circuit Court in and for St. Lucie County, Ftorida, in Plat Book 16, page l:lA
through 1J. '
BODK PACE ~7Vc7 J 2 ~ {
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