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r~:' ~ tvl O R~T G A G E %~s~49 '
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rr~~~rt~;~k~o2•, in consideration of the principal sum specified in the promissoey note hereafter described, r~ ~
~~~~~~~d fr~~m OLTDOOR RESORTS OF AaIEBICA, INC., a corporation arganized and existing under the Laws
i~ he St,ite of Tennes~ee, the I~Iortgagor, hereby on this~~~ day of v~-- y , 19 7~
~:.~~rt,~:t~,~e~ to the \Iortgagee the real property in St. Lucie County, Florida, described as:
Lot I~'o. ~'Tn that certain condominium known as OUTDOOR
RESORTS~-j~1~~ A14fERICA AT \ETTLES 1SLArD. as shown by plat
recorded in the Oflice of the Circuit Court in and fai• St. Lucie County,
Florida. in Plat Book 16. page 1:1A through 1J.
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- THIS IS A PUftCHASE 110~IEY lIOBTGAUE J
.eceerit~~ for the payment of the promissory note of ~vhich the following is a copy:
Installment Note and Distlosure Staterr~ent
` _9~359.40 St. Lucie Countv , Florida
, ~ U ~.T_ ~ / 19~„~ :
Foi- Value Recei~ed, I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF
:`+`~IERICA. Ii\C.. P. O. Box 1116. Jensen Beach, Flor ida. 33457, or any other place as the holder hereof may
a.e in writing, the sum of Nine thousand th~~e hundred fifty-nine 9 3~9.40
t..~n _ _ s i n nn ( a ) Dollars,
~~~i~ sc~m being the Total of Payments referred to in the Disclosure Statement below~ which includes a FINANCE
+ Ft aRGE on the amount financed~ payable in ~---~--60-------equal consecutive monthly installments of
~ 1~~._~9------ each. and the first installment to become payable on the ~-5 / day of d C~
~.•a ..np anrh ~natallment to become due and payable on the-.._~day of each succeeding month
r: t i 1 the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
.~-`~>~-e the final installment date, the unearned portion of the FI~ANCE CHARGE shall be rebated under
;ne Rule of ?8's.
In the erent of default in the due and punctual payment of any installment on this Note for a period of
t}?irt~ (30) days, or if any statement, representation or warranty in any application for the credit evidenced
t~;• this Note is found to be untrue in any material respect, or in the event THE UNDEItSIGNED, WITHOLTT
T t i E PRIOR VVRITTEN CONSENT OF THE HOLDER HEftEOF, SHALL SELL~ ENCUMBEft (EXCEPT
FOR ANY htORTGAGE WHICH 1S SECURITY FOB THIS NOTE) OR OTHER`i/ISE DISPOSE OF Oft EN- ~
L 1IBER OR COMMIT ANY BREACH OF THE biORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
F,1IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
` Z'i~F. 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
~ ci~,,e 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 sarne at any other time.
,
~ Time is of the essence of this Note. In the event any installment is not paid c~hen due or within ten
; cla~•s thereafter, the holder may collect, and the undersigned agrees to pay a late charge on snch.installment in
; an amonnt equal to 5`J of such installment or $5. whiche~er is less, and in the event this Note_~s col~ected by
' 1<~;~• or through an attorney at law or under advice thereof~ the undersigned agrees to pay all costa of coltection,
ir~luding reasonable attorney's fee9 and court costs to the extent permitted by Florida law.
The undersigned and all endorsers or other parties to this note jointty and severally transfer, convey and
; assign to the Hoider a sufficient amount of such.homestead or exemption as may be allowed, including such
: homestead or exemption as may be set- apart~ in hankruptcy, to pay this note in full, ~vith a11 cos£'s of collection,
; and do hereby direct any trt~stee in bankruptcy having possession of such homestead or exemptioII to deliver to
the Holder a sufficient amount of propertv or money set apart as exempt to pay the indebtedness evidenced
hereb3•. or any renew~~~hereof, and do hereby, jointly and se~erally, appoint the Holder the attorney in fact for
e~sch of them, to claim ai and all homestead exemptions alto~~•ed by law. ,
~ A first mortgage for the seeu~ of the aforesaid indebteclness is retainecl by OUTDOOR RESORTS OF
:~~IERICA. [NC., on Lot No.~.in that certain Condominium knowtt as OUTDOOR RESORTS AT NETTLES
; [~[,:~\D, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
! ~~~rded in the OflSce of the Circuit Conrt in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
~ t~rou~h 1J.
RECEIYEO ~ IN PAY~IENT OF TAl(E$
OUE ON CLASS 'C ~NTANGIBIE PE~SOHIU. PRppERry~
IURSUAHT TO ClL~P E~ 71•13~, AC1S Of 1971. ~i~ (1 P~~O ~~a V ..~j `s~/f''~ ` ~
Ro~Ea Po:rrt~:c I ~OOK PAtE j
' ~ - ~'J,1RT, SL LtIC~E CO., flA ~