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~y~'~ MORTGAGE 2~482
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the mortgagor, in consideration of the principal sum specified in the promissory note hereafter described. r~-
eei~~ed from OUTDOOft RESORTS OF AMERICA. INC.. a corporation organized and existing under the Lawa
of the State of Tennessee, the Mortgagor, hereby on this~~__day of ~ b~ , 19~,
mortgages to~the Mortgagee the real property in St. Lucie County, Florida. described as: .
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Lot No. '~:~~!`-!_Z~-in that certain condominium known as OUTDOOR, y~ ~h
St~Y~ RESORTS OF AMERICA AT NETTLES ISLAND as shown by • plat Q~
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- ~ ny~ Fler da~. in Plat Book 16, page x 1A t rou h 1J. d for St. Lucie County `i,~~qG1L~
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, THIS IS A PUBCHASE MONEY 11iORTGAGEg~,~~o~~~`~o ~°'~~y"~'~~~~~ ~ tj ;
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As security for the payment of the promissory note of which the following is a co~;~=:~' L`e~v~_ k~ c''
- Instaliment Note and Disciosure Statement ~
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For Value Received~ I, we or either of us promise to pay to the order of OUTDOOR RESOFtTS OF
A~iERICA. INC., P. O. Box 1116. Jensen Beach, Flor ida, 334b7~ or any other place as the holder hereof may
designate in writing, the sum of'~ i- i~t~. iY 'r:ur~dr-~=, ~~~v~nt~en &°2!100 ~3, ti17.~2~ ~~lars,
this sum being the Total of Payments referred to in the Disclosure Ststement below. which includes a FINANCE
CHARGE on the amount financed. payable ir~
equal consecutive monthly inatallments of
Q ST
_ each, and the first installment to become payable on thP ~ day of~9~K'
19 and one such installment to become due and payable on the ~ S day of each succeeding month
u?~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the finai installment date~ the unearned portion of the FINANCE CHAKGE shall be rebated under
the Rule of ?8's.
In the event of default in the due and punctual payment of any installmerit 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 iJNDERSIGNED~ WITHOiJT
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~UMBEft OR COMMIT ANY BREACH OF THE 11iORTGAGE OR PEftMIT OR SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THftOUGH
j 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 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.
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 i
law or through~ aj~ 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
as~~gn 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 sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced ~
~ hereby, or any renewal thereof~ and do hereby~ jointly and seceratly, appoint the Holuer the attorney in fact for
~ each of them. to claim a~:;? and alt homestead exemptions allowed by law.
A first mortgage for the ~urity of the aforesaid indet~tedness is retained by OUTDOOR RESOBTS OF
AMERICA, INC., on Lot No~~~in that certain Condominium known as OUTDG~OR ~tESORTS AT NETTLES ~
; ISLAND, and on any imnrovements, fixtures or after acquired property added tbereon~ as shown by plat re- `
corcied in the Office of the Circuit Court in and for St. Lucie Count F[orida, in Ptat Book 16. page 1:1A
thmu~h 1J. ~ R '
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