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262921 '
M O~T~~,C~. ~~i~ure Villa e, St;iart
Rowland and Marion Sparks, ~~-~n~e~-Ortvt~f4er~-F~l~c,rt~a33863 3~94~
the mortgagor,-in consideration-of the-principai--sum specified in the promissory note hereafter~ described.-re--
~•eired from OUTDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the Laws
~~f the State of Tennessee. the Mortgagor, hereby on this 26th _duy of Nove~r~ber _ 19~2 .
mortgages to the Mortgagee the real property in St. Lucie County. Flerida. described as:
1359 Secti or~ I ~
Lot No.- -~n ha certain condominium knoHn as OUTDOOR
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
re.^.orded in the Office of the Circuit Court in and for ~t. Lucie Wunty.
Florida, in Plat Book 16~ page 1:1A through 1J.
f:A D40t ST.'.~IPS
THIS IS A PURCHASE MONEY MORTGAGE ~~~xtD To
oz;ctw~p aoTB
a, securit3• for the payment of the promissory note of which the following is a coFy :
_ - - _
Installment Note and Disclosure Statement
~ 7019 . 40 AE~ _/y~' IN PAVMFM OF TAXES St. Luci e County _ Ftorida
DUE ON CIASS 'C' INTANGISLE PERSOtiAL PROPEItTY~
F'URStMWT i0 CH,1PiER 71-134, acJS ~ i9n. November 26 19 ~2
ROGER POITRA3 /G
For Value Receivec~~'~~ ~TerSTO~S~~ ~b~e to pay to the order of OUTDOOR RESORTS OF
:~~IERICA. INC.. P. O. Box lll6, Jensen Beach, Flor ida. 33457. or any other place as the holder hereof may
~iE~~i~nate in writing, the sum of Seven Thousand Ni neteen & 40/ 100 ~ 7019. 40 ~~~~ars,
t'ii, sum Ueing the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
('HARGE on the amount financed, payable in 60 equal consecutive monthly installments of
c_ _ 116.99 each. and the first installment to become payable on the 1St day of
~anuary
.
19 73 , and one such installment to become due and payable on the- lst day of each succeeding month
i ur~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
~ }~rfore the finai 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
~ 1~~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOLI'f
~ THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBEB (EXCEPT
~ r'UR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~ ('UMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFEA ANY LIEN TO
~ N;tIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
~ e~•idenced) 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
c,r 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 e~~ent any installment is not paid when due or ~"'i~thin 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~/ of such installment or $5, whichever is less, and in the event this Note_ia cpllected by
~ la~ or through an attorney at law or under advice thereof. the undersigned agrees to pay all cost~ of, collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law. ~
~ The undersigned and ali 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 full, with all costs of collection.
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemptiQ~, to deliver to
~ the Holder a sufficient amount of property or money set apart as exempt to pay the indebtec~riess evidenced
~ y, y y y y, ppoint the Holder the attorne
g hereb or an renewal thereof~ and do hereb , jointl and se~ erall a y in fact for
each of them. tc, claim any and all homestead exemptions allowed by law.
~
A first mortgage for the sec e~t ~ ~tl~g aforesaid indebtedness is retained by OUTDOOB RESOATS OF
~MERICA, INC., on Lot No. 1359 ~n that certain Condominium known sa OUTDOOR RESORTS AT NET1'LES
~ ISLAND. and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
corded in the Office of the Circuit Court in and for St. Lucie County. Florida, in Plat Book 16, page 1:1A
~
through 1J. 800K F'ACE ~08 7 ~
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