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l~''~ MORTGAGE ~ 2~s8~8
u/~ll~.~a~S Ity f.' ~di//~.~~rs ~,s
~~/fe ~/a Ga.-al ~ t.v. P-~.u~rr t~ N kr~~j~c t Ya +~9~
/M I -
~i~~~ r.~~~rt~;.?~;rn•, in con•iileration of
the principal sum specitieci in the promi~soi•~• note herea ter descrit~eci, re-
~,•~~~~•~l fr~?m (1tTTDOnh I:ESORTS OF A~iERICa~ I\C.. a corporation organized xnd esi~tin~ under the l.aws
~~f tt~r St;~t~~ „f "I'enn~~~ee, the ~Iort~;agor, hereby oii thi.__.~:_~day- of._ L'~_ ~ 19?~,
r,,~~rr„~,~~e; tu ti~e ~Inrt~~kee the real property in St. Lucie Cuunt~~, Florida, described as:
Lot \0.21-~~~ ii~ that cert.iin c~,ndominium kno~~•n as OUTDOOR
I:ESORTS OF A~IERICr1 AT \FTTLES ISLa\D, as ,hon-n l,S~ piat -
r«u2•c:eci in the Offiice of the Circuit Court in and for St. Lucie Cow~ty,
I~:_•?-i~ia, lll Plat Book 1G, page ]:lA through 1.I.
~ THIS IS PURCH ASE ~IONEI' ~IORTG ~GE
,~:-i:r~tr fur the p<!~•ment of the promi::s~~i-t note of ~~hich the following i, a coP3•: ~
~ ir~~fiallment Note and Disclosure Statement ~
~~_18`~ ._40 St . Lucie Count~__ , Florida
n,. ~ ~ - ~ ~ 3 (
..~c _ i~
~~;~r~a . :
t~+~:- ~"alue E~~:~?t'~i~;~ I, ~~-e or either of u~ prvmise to pay to the order of OUTD00~: RESORTS OF
:~`,Ii:E:(t: a, I\G.. P. O. Box 1116. Jense~i 13each. Flor ida. 33~5i, or any other place aoOhe holder hereof may
~:.~:i~r.,tte iri ~+•riting, the _i~rn ofEi Y~~t~? One_Hundred,__Eighty_Nine & 40/1 ~_g~g9~40) Dollars,
::~rr~~ h.~in~ the Total ot Payments referred to in the Disclosure Statement belo~v, «hich includes a F1\TA\CE
~ ii:1i;GF, on the amount financed, payable in -----6~~---_--- equal consecutive monthly in~tallment; of
136 .49--__each, and the fir:st installment to become payable on the / Sl
day of~~~'~~~/.~~x,--
- ~r
i? J_j__., an~ oiie such instaliment to become due and pa~aUle on the__~-day of each succeeding month
~ ;:?:til the ~chole of ~aid indebtedness (Total of Payments) is paid. In the event of prepayment in ful! by cash
; ~~~•f~>re the final installment date. the unearned portion of the FI;\ANCE CHARGE shall be rebated under
~ ii~t~ Ru~e of 78's.
~ In the ecent of default in the due and punctual pa~-ment of any in5tallment on this 1~'ote for a period of
€
~ ,'~:rtp (30) da~-s, or if any statement, representation or ~carrantt~ in any application for the credit evidenced
~ h~- this 1Vote is found to be untrae in any material respect, or in the event THE UNDERSIG~TED. ~VITHOUT
~ ';'EI~; PRIOR tit'RITTE~T CO\'SE\T OF T~IE HOLDER ~iEREOF~ SHALL SELL, ENCU1iBER (E?~CEPT
~ F~~`1z; A\l" 110RTCAC=E ~t'NICH IS SECURITY FOR THiS tiOTE) OR OT~iER~t~'ISE DISPOSE OF OR E\'-
~ ~,~L~1~3FsR OR C01I~IIT A~Y ~REAC~I OF TfiE ~'IOP.TGAGE OF. PERtiiIT OR SUFFER A~tY LIEi~ TO
I::LIS'IL O\ THF. REAL PROPERTY PURCHASED BI' THE ti\'DERSIGti`ED Ai~'D FI~TAI~CED THROUGH
'~~IIE CREDIT E~'InE\CED BY TNIS 1~'OTE or in the e~~ent of the incompetency. insolvency (howsoe~er
;~le~ce~l) or bankruptc~- of anyone or more of the unclersigned, then the en~ire remaining indebtedness then
,:~.;e sha~t i,ecome immediately due and payable at the optiun c~f thc holder hereof ~ti•ithout demand. presentment
~ c,r notice oi an3 kind. Any failure of holder to exercise said option shall not con;titute a:~-aiver of the right
~ to e~ercise the same at any other time.
~
~ Time is of the essence of this I~'ote. Iii the ere~it any in~tallment i. nat paid «hen due or ~vithin ten
~ d:~. s thereafter, the holder m~y collect, and the under,i~;ned a~;ree~ to pa3- a late charge on ~uch installment in
~n amnunt equal to 5;~~ of such installment or $5, «•hiche~-er is less, and in the e~~ent this `ote is collectec~ by
1~~+~ ~r throu~;h 1n attorne~~ at law or under advice thereof, the undersi~,•ned afirees to nay all costs of cotlection,
i~~cl;:ctin~.~ re.:sonable attorney's fees and courf costs to the estent permitte~i by ~'lorida i~~~s.
F.^.+
s~ Tne ~ir~dersi~,rneci and all endorsers or other partie: io this nute joiiitl~- ar.d ~ec~erall~• transier, convey and
~.=;i~:r~ ta the Holder a sufticient amount of such home~tead or exemption as maS~ i~e allo:~~ed~ including such
~~~:~~e;tesd oi- exemption as may be set apart in bat~kruptce-, to pa~• this ~iote in full, ~cith all co~ts of coitection~
r~t:; r.~ hereht direct a~iy trustee in hankruptcy having po~~ession of stirh home;tead or exemption to deli~•er to
:
r t':e ~Iold~~r a~uf~icient amount of property vr money set apart a~ etem~~ to pal the iiidebtedness e~~idenced
}:.~reh~-, or an} rene«al thereof, and do hereby, jointly and se~•erall~•, appoint the ~Ioldcr the attorney in fact for
e:~cn of them, to ciaim ai:~- ard all homestead exemptions alloa~ed b~• fa~v.
E~~ A fir:t m~rtb•a~e fo:• the security of the afure::iid indelrtedt:e,s is ret:.~ined OUTDOOR RESORTS OF
:1'~Ik:"r:Ii':1, t~C., on Lot \o.J_I£,~in that certain Condominium known as OLiTDOOR RESORTS AT I\F.TTLES
itiL~~;;U, ~ic~d on any improrements, fittures or after acquired pmperty added thereon, as shown by plat re-
~~~~-d~~r~ ~n rhe Oflice of the Circui~ C:o!i~t ir. and for St. Lucie t'o::nt~•, Florida, in Plat °ook 1G~ page 1:1A
~ thrc~'~~it 1.1.
aoor 220 P~~E 30~ ~ t?;
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