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~-~t~ M 0 R~ G.A;C E 2b`~488
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thr mort~,~a~;~r, in consideration of the princip~il sum speci~eci in the promi~sory note hereafter de~cribed, re-
~~~•i~-ed fi•un~ OL'TllOOIt RESORTS OF AIIERICr1. I~C., a coi•par~tion arganized anci existing under the La~vs
~~t the State of Te~uiessee, the Alortg~gor, hereby on this_~~-day of _ , 19~.
m~~~•t~;u~;e, t~? the ~Iortgxgee the real pibperty in St. Lucie County, Florida, des ri as: ~
TL ~
Lot \o.~~_____in that certain condominium kno~sn as OUTDOOR
RESORTS OF ADiERICA AT 1~'E'ITI.ES ISLA\TD, a. sho~~~n by pl:.i
recorded in the Oflice of the Circuit Coui•t in aiid for St. Lucie Cou:~tv.
Florici:?, in Plat Book 16, page 1:1A through 1J.
THIS IS A PURCHASE \l0\EY ~IORTGAGE
.e~•urit~• for the paSment of the promissoiy note of ~~hich the follo~~•ing is x cop~~:
fnstallment Note and Disclosure Statement
R~~ i- 7 Y IN r~wR?Vr pF rAttE~ S t. Luc ie Count~ . Florida
; _9 ~359 .40 0.;:. .~A~ ~c ~~~ncie~ ~E~ P-o: uts
WRSUANI TO Cf1At?ER 71•13~. ~crs oF iy~~
Rn'
ROOE~ PORRIIS ~ lg~
F:~i• Value Recei~•ed, T; ~r~f~~ ~,~e to pay to the or er of OUTDOOR RESORTS OF
=\~If~:F:I('A, ItiC., P. O. Box 1116. Jensen Beach, Florida, 33457, or any other pl~c~~,s~e holder hereof may
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~;c~:i~,•nate in ~.•ritin~, the sum of Ninety Three Hundred~ Fif ty Nine & ( L ) Dollars.
tl~i, .um bein~? the Total of Payments referred to in the Disclosure Statement belo~v. ~vhich inctudes a FINA\'CE
C'I(:1RGF, on the amount financed, payable in----60---------- equal consecuti~~e monthly installments of
155 .99-____each, and the first installment to become payable on the-.[ S~_day of-~ v~ ~
. ,
' t~? 7.s_, and one such installment to beeome due and pa~•able on the_.~ S~ day of each succeeding month
; ~~t~til the ~~~hole of said indebtedness (Total of PaS•ments) is paid. In the event of prepayment in full by cash
~ !~t~fore the final instaliment date, the unearned portion of the FII~TAI~CE CHARGE shall be rebated under
! the P.ule of 78's. .
~
~ In the e~ent of default in the due and punctual paS~tnent of any installment on this Note for a period of
~ il~i~•t~• (30) da}•s, or if any statement, representation or warranty in any application for the credit evidenced
~ this 1~'ote is found to be untrue in any material respect, or in the event THE UNDERSIGi~ED, ti`'ITHOUT
~
¢ 'I'fIF. PRIOR «`RITTE\' COI~'SENT OF THE HOI.DER HEREOF, SHALL SELL, ENCUDiBER (EXCEPT
~
~ I'OR A\~ D'[ORTGAGE ~VHICH 1S SECURITl' FOR THIS 1\'OTE) OR OTHER~VISE DISPOSE OF OR E~T-
~ C'li,IiBER OR CO~i:1iIT A;~'1" RREACH OF THE 1~10RTGAGE OR PER~IIT OR SUFFER ANY LIE:~' TO
~ I?1IST ON THE RF,AL PROPERT~' PURCHASED RY THE UI\DERSIGi~TED A\TD FINANCED THROUGH
'I'FIE CREDIT EVIDEI~'CED BY THIS hOTE or in the event of the incompetency, insolvency (ho~•soe~er ~
~ e~-idenced) or bankruptc3• af anyone or more of the undersigned, then the entire remaining indebtedness then
~ clue shall become immediatel ~ due and a•able at the o tion of the holder hereof without demand
3 p ~ p ~ presentment
= ot- notice of anp kind. Any failure of holder to e~ercise said option shall not constitute a v?ai~er of the right
to e~ercise the same at any other time.
~
~ Time is of the essence of this Note. In the event any installment is not paid when due or within ten
~ ~ia3-s thereafter~ the holder may collect, and the undersi~;ned agrees to pay a late charge on such installment in
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~~n amount eyual to 5 i~ of such installment or $5, «~hiche~•er is less, and in the e~ ent this I~'ote is collected by
' law or throufih an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
E~ includin~ reasonable attorney's fees and court costs to the extent permitted by Florida la~v.
The undersigned and all endorsers or other parties to this note jointiy and se~•erally transfer, convey and
a:~i~~i to the Holder a sufficient amount of s~ch homestead or exemption as niay be allowed, including such
T~' h~,mestead or exemption as may be set apart in bankruptcy, to pzy this note in full, w~ith 9ll costs of collection~
and do herebS• direct any trustee in bankruptcy ha~~ing posses~ion of such home:~tead or exemption to deliver to
the Holder a sufficient amount of ro ert or mone set a art as exem t to
p p y y p p pay the indebtedness evidenced
hereh • or an reneKal thereof, and do hereb ~ ointl and se~•ei•ail}, a
y y, j y ppoint the Holder the attorney in fact for
e<<ch of them, to claim at and all homestead exemptions dllo~~•ed b~ la~s.
`~'3 A first mortbage for the security of the afoi•esaid indeLtedness is retained b~• OUTDOOR RESORTS OF
~
~ :1ti1ERICA, INC., on Lot ~`o ~`~Z in that certain Condominium known as Oli'I'nOOR RESORTS AT ~'ETTLES
ISI.~\I) and on an im rovements, fixtures or after ac uired ro ert added thereon, as shown b
e~.A . 3' P 9 P P S' Y Plat re-
corded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
thro;~h~h IJ. 90dN~~o P~GE1~~~ : ~
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