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~rr,.-. ~ ~ ~S1i .'t- o v- ~ t~ a Sc ~ ~ o ~ H:I i^
r,i~~,•~,.~~ur, i~i consideration of the principal sum specified in the promissors• note hereafter described, re-
~~~~i. e~~ frvm OUTDOOR RESORTS OF AI~iERICA, INC., a corporation organized and existing under the Laws
,~i th~ ~t.~te ut T~nnessee, the l~Iortgagor, hereby on thi~~_day of J~ _ , 19 ,
r~~~~r;~~a~,e• to the 1lortgagee the real property in St. Lucie County. Florida, descri ed as:
Lut l~o.~~ in that certxin co:~dort1inium kno~vn as OU'TDOOR
RESORTS OF AIIERICA AT \'ETTLES ISLA\D, as shown by plat
recurded in the Oftice of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16, page 1:1 ~ through 1J.
~ THIS IS A PURCHASE ~IO\EY 110RTGAGE t-1 `
~eciii•it~• for the payment of the promissory note of which the foltowing is a copy:
lnstellment Note and Disclosure Statement -
,15 912 .00--- St . Lucie County , Florida
1- -
" . _ - J~j~ ~5" ~9?~
F~i- ~'alue Received, I, a•e or either of us prom ise to pay to the order of OUTDOOR RESORTS OF
:~~IERIC~, I:~C., P. O. Box 1116, Jensen Beach, Florida, 33457~ or any other place as the holder hereof may
Fifteen thousand, nine hundred, twelve
~;~~,i~;nate in writing, the sum of ~~_1
n~_ (15 ~ 912 .0(~ Dollars,
-:~i~ ~um being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
+'E(~I:C=E on the amount financed. payable ir~-------96-~--- equal consecutive monthly installments of
~ ~_165 .75------ each. and the first instaltment to become payable on the day of ,~!'a ~r'?~+ ~ts•
; 1~~ _~jL, and one such installment to become due and payable on the ~ s
x day of each succeedinR month
I ::~~~iI the «hole of said indebtedn~ss-(Total of Payments) is paid. In the event of prepayment in full by cash
a '~~:ore the fina! in~tallment date. the unearned portion of the FIti'A~V'CE CHARGE shall be rebated under
~ ~ ^e F.ule of i8's. . .
~ In the event of default in the due and punctuai payment of any installment on this Note for a period of
* t~~ii•t~ ( i0) days. or if any statement, representation or warranty in any application for the credit evidenced
~ this I~ote is found to be untrue in any material respect, or in the event THE IJNDEftSIGNED, WITH~JUT
~ '~'FiE PRIOR ~VRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL~ ENCUMBER (EXCEPT
~ r{)R A~Y 1+IORTGAGE WHIGH 15. SECURITY FOR THIS ?\'OTE) OR OTHER`YISE DISPO~E OF OR EN-
~ i; ~IBER OR COi?'IMIT ANY KREACH OF THE MORTGt~GE OR ~ERMIT OR SUFFER ANY LIEN TO
~ E~IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FIAIANCED THROUGH
~ TEtE CP.EDIT EDIDE\CED BY THIS \OTE or in the e~ent of the incompetency, insolvency (howsoever
~ e~: idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~ ~tue 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 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 instaliment is not paid ~shen due or within _ten
~ c'.ays thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in
ws an amount equal to 5`~ of such installment or ~5, whiche~er 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,
~$~F i,icluding reasonable attorney's fees and court co3ts to the e~ctent permitted by F'lorida law.
The undersigned and all endorsers or other parties to this note jointly a~id severaliy transfer~ convey and
a~ sign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
~~E ~;omes±ead or exemption as may be set apart in bankruptcy, to pay thi~ note in fu11, with a11 costs of colleetion,
~ and do hereby direct any trustee in bankruptcy ha~ing 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
y, ppoint the Holder the attorney in fact for
hereby, or any renewal thereof, and do hereby, jointly and se~•erall a
each of them, to claim ai and all homestead exemptions allo~.ed by la«.
" A first mortgage for the security of the aforesaid indebtedne~s is retained by OUTDOOR RESORTS OF
~iEP.[C a, II~'C., on Lot I`'o.~in that certain Con~laminium known as OUTDOOR RESORTS AT NETTLES
ISL:~\D. and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
F,4 corded in the Office of the Circuit Court in and for St. Lucie Ceunty, Florida. in Plat Book 16, page 1:1A
~ ~ through 1J. - n
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