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MOR~TGAGE
-Mr~---KPnnQth~.~iddle~, 146 Easv St~,, Stuart~Florida 33494 ,
~ h~~ mort~,~Si},~Ol•, in consideration of the principal sum specihed in the pibmissory note hereafter described. re-
~•~~ired from OUTDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the Laws _
~~C ihe State of Tennessee, the Mortgagor, herebS~ on this_ lOth_~R~. ofJanuarY_____ _ _ 19 ~73
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m~~?•t~,?a~e~ to the liortgagee the real property in St. Lucie County. Florida, descriUed as: ' a~,~,~~' $
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Lot No.~ II that certain condominium kiioti~•n as OUTDOOR o% ~g~yPOE ~y,
RESORTS OF AMERICA AT :~TETTLES ISLAND, as shown by plut ~ `o~~.Q tS~'S ,E~" [
recorded in the Office of the Circuit Court in and for St. Lucie County,~ ~~G ~'~'`~~s ti~.~ ;
Florida, in Plat Book 16~ page 1:1A through 1J. J'~' ~C '
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THIS IS A PURCHASE MONEY ~fORT(:A(:E ~,c~
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_1~ .ecurit~• for the payment of the promissory note of ~vhich the follo~~•ing is a copy ~F~~~ f
tnstailment Note ond Discfosure Statement
. 7_, 019 .40 _ St , Lucie County__.~ ~oriaa ;
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~Ian~r_y 19th, _ 19 73 ~
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F~~r Value Recei~•ed. I, ~~•e or either of us prc,mise to pay to the order of OUTDOOR RESOItTS OF
:1 ~tH:I~I('A. INC., P. O. Box 1116, Jensen Beach, Flor ida. 33457. or any other place as the holder hereof may 3
~I~~:i~,~nate in ~ti•ritin~, the sum of~n_ThQ~sand__ & Nineteen-----40/100 ~ 7,019.40~ ~~~ars, ;
t}~i~ ~IIRI I)@ll1~,~ the Total of Payments referred to in the Diselosure Statement below, which includes a FINANCE ~
~
~ H~KGE on the amount financed. payable in _~2Q-_ _ equal consecutive monthly installments of ~
~ 116.9~_,_each. and the first installment to become payable on the 1st day of June ~ ;
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a~ 73 ancl one such installment to become due and payable on the_1St day of each succeeding month ;
~:»ti! the ~~hole of said indebtednes.S (Total of Payments) is paid. In the event of prepayment in full by cash ~
}~~~fc~re the fina! installment date. the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of 78's,
Iiz the e~ent of default in the due and punctual payment of any installment on this Note for a period of
tl}irt~• (30) da~s, or if any statement, representation or warrant~ in any application for the credit evidenced
this Note is found to be untrue in an}~ material respect, or in the event T~iE UNDERSIGNED. WITHOUT
~rttE PRIOR t~~RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
F(~R ANY MORTGAGE WHIGH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~'L'AiBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO
~:.1'IST OIv' THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
T'FiF. CREDIT E~'IDENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever
«~~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~lue shall become immediately due and payable at the option of the holder hereof without demand, presentment
~~c- notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver of the right
t~ exercise the ~ame at any other time.
Time is of the essence of this Note. In the event any in5tallment is not paid when due or within ten
days thereafter, the holder may collect, and the undersi~,*ned agrees to pay a late charge on such installment in
<{?i amount eq~al to 5~~ of sueh installment or $5, whiche~er is le,s, and in the event this Note is collected by
ia«~ ar through an attorney at law or under advice thereof,'the undersiKned agrees to pay all costs of collection~ i
includin~ reasonable attorney's fees and court costs to the extent permittecl by Florida law. t
The undersi ed and all endorsers or other ~
8'n parties to this note jointly and severally transfer, convey and ,
a„i~,?n to the Holder a sufficient amount of sueh 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 herel~y direct any trustee in bankruptcy having posses~ion 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 '
hereb~~, or any renewal thereof. and do hereby, jointly and se~-erall~•, appoint the Holder the attorney in fact for
each of them, to claim a~ and all homestead exemptions allo~recl by la~~.
A first mortgage for the security of the aforesaid indel~teci~iess is retained by OUTDOOR RESORTS OF
:111~:RICA, INC., on I,ot No8~42IZin that certain Condominium known as OL'TDOOR RESORTS AT NETTLES
(~I.Ati'I), and on any improvemerits, fixtures or after acquired property added thereon, as shown by plat re-
c~~rded in the Office of the Circuit Court in and for St. Lucie County, Florida. in Plat Book 16, page 1:1A
through 1J.
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