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MORTGAGE `
David_A~_& _Patricia K. Hanley, 1718 Sh.errtan Ave., Evanston, Illinois 60201
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thf: murt~xg~~r, in consideration of the principal sum specifiecl in the promissory note hereafter described, re-
~~t~i~•ed fr~~m OL'TDOOR RF.SORTS OF AriERICA. INC., ~ corporation organized and existin~ under the Laws
~~f the St.ite uf Ten~~essee, t~e liortgagor. hei•eb~• oii this__ $th___da~~ of`-~~~e , 1973 ,
r~~~~rt~,?a~,~e. to the ~iortg~~gee the real property in St. Lucie Count~~, Florida, describecl as:
Lot tia 118_ $eC~io~tAt certain condomin:ur:~ known as OUTDOOR
RESORTS OF A1tiERI~ A AT \'ETTI.ES ISLAND, as shown Uy plat
recordecl in the Ofhce of the Circuit Court in and for St. ~ Lucie County.
Florida, in Plat Book 16, page 1:1A through 1J.
'rHIS IS A I'URCHASE r10NEY 1lURT(.A(.E
:ecurit~• for the pa~~me~rt of the pi~omissoiy note of which the following is a co~y:
Installment Note and Disclosure Statement
; 8774,40____ St. Lucie County , Florida
~ , . June 8 ~g73
For ~'alue~ Recei~•ed, i, ~.•e or either of us promise to pay to the order of OUTDOOR RESORTS OF
~tF.Ri('A, 1\C, P_ O. Box 1116, Jensen Beach, Flor ida, 33457. or any other piace as the hoider hereof may
~~~~.;~,~~~<~tc~ ;n .?•ritin~,•, the sum of Ei ght _Thousand_ Seven Hundred Seventy Four&40/140 8774.40 ~ Dollars,
I ;his sum Lein~,~ the Total of Pay~ments referred to in the Disclosure Statement below. which includes a FINANCE
~~IIARGE on the amo~mt financed, pa~~able in-_ __60 - equal consecutive monthly installments of
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146. 23_ _____Qach, and the first installment to become payable on the 15th `day of- ~~~y
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~ 73__, znd one such installment to become due and payable on the-_ ZSth day of each succeeding month
:.~~~til the ~-hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
i~E~fore the fina! installment date, the unearned portion of the FII`'ANCE CHARGE shall be rebated nnder
ihe Rule of i8's.
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; In the e~ent of default in the clue and punctual payment of any installment on this Note for a period of
; tl~irty 130) days, or if any statement, representation or warranty in any application for the credit evidenced
~ f~~• this Note is fuund to be untrue in any material respect, or in the e~ent THE UNDERSIGNED, WITHOUT
~ T}(E PRIOR «'RITTEN CO\'SE\T OF THE HOLDER HEREOF, SHALL SELL. ENCUMBEK (EXCEPT
e I~'OR ANY MORTGAGE ~VHI(;H 1S SECURITY FOR THIS NOTE) OR OTHER~i'ISE DISPOSE OF OR EN-
= t'L'biBER OR COMM[T ANY RREACH OF THE MORTGAGE OR PERMIT 08 SUFFER ANY LIEN TO
I:.l"IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
i "I'F~E CREDIT EVIDENCED Bl' THIS '.~'OTE or in the event of the incompetency, insolvency (howsoever
f t~~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
` ciue shall become immediately due and payable at the option of the holder hereof without demand, presentment
~ ~~r notice of any kind. Any failure of holder to esercise said option shall not constitute a waiver of the right
~ to exercise the same at any other time.
~ Time is of the egsence of this 1'ote. In the eti•ent an~~ instalhnent is not paid when due or within teti
days thereafter, the holder may collect, and the undersigned agree~ to pay a late charge on such installment in
an amount equal to 5;-~ of such installment or ~5, whiche~•er is less, and in the event this Note is collected by
- la~v or through an attorney at law• or under advice thereof, the undersigned agrees to pay all costs of eollection,
ir.cludinK 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 trane~er, convey and
assign to the Holder a suflicient amount of such homestead or exemption as may be allowed, including such
hnmestead or exemption as may be set apart in l~ankruptcy, to paS~ this note in full, with all costs of collection.
and do hereby direct any trustee in bankruptcy having posse~sion 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
' hel'eby, or any renewal thereof, and do hereby, jointty and se~•erali~~, appoint the Holder the attorney in fact for
each of them, to claim any and alt homestead exemptions alloK-ed b~~ laK~. -
" A first mortgage for the se uri y, of ~j~}e aforesaid indel,teciness is retained Uy OUTDOOR RESORTS OF
i A:~IERICA, INC., on I.ot ~,'01_1~_ ~en ~~ia~ ce"rtain Condominium known aa OUTDOOR RESORTS AT NETTLES
15LA1'n, and on any improvements, fixture~ or after acquired property added thereon, as shown by plat re-
~ curded in the Oflice of the Circuit Court in and for St. Lucie C'ount5, Florida, in Plat Book 16, page 1:1A
= throu~,~h 1J.
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