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MORTGAGE 26'7494
M~ri~lia Hvmnmel _ ,
~ che mortgagor, Itl consideration of the principal sum specitied in the promissory note hereafter described, re-
~•t~i~•ed from OL'TDOOR RESORTS OF AMERICA, INC., a corporation organized and existing under the I.a~~s
~~t the State of Tennessee, the Mortgagor, hereby on this__~~day of _ 19J~_,
murtgafiec to the ~iortgagee tbe real property in St. Lucie County, Florida, described as:
Lot No. 1260/II ~n that certain condominium knoK•n as OUTDOOR
RESORTS OF AMERICA AT NF.TTLES ISLAND, as shown by plat ~
• recorded in the Oflice of the Circuit Court in and for St. Lucie County, .
Florida, in Plat Book 16, pa~e 1:1A through 1J.
THIS IS A PURCHASE ~tONEY MOftTGAGE
a, securit~• for the pa,r•ment of the promissory note of which the following is a copy:
tnstall nt Note and Disclosure Statement
rE~EIYfA 0 IM Par»r1iIT OF TIIXES
5t394. 6_Q_ r~• ~~t•ar.~~_~ .,;c~-.~ v:^.o~aslr~ St Luc ie County
pURS'.W ~ TO ChA~:E~ 71•131, ACTS OF lylt. , Florida
ROGER PO~TRI?s ~ June? S.r-1973 29J_~_
For Value Recei~ed. I,C~ o~~er ouf~us~'
prom~se to pay to the order of OUTDOOR RESORTS OF
.-~~IERI('~?, INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
' dE:.i~,=nate in ~rriting, the sum of Fiftv one hundred ninety___nine & 60 100 ~ 5, 199. 60~ ~~lars,
thi, sum being the Total of Payments referred to in the Disclosure Statement icelow. which includes a FINANCE
(~tiARGE on the amount financed, payable in ~ 60 equal consecutive monthly installments of
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~ 86. 66 ___4each, and the first installment to become payable on the 1~~ _day of
,
1~ 73_, and one such installment to become due and payable on the_ 1~~ day of each succeeding month
;:,~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by ca.sh
1~t~f~~re the final instailment date, the unearned portion of the FI1`'A11~'CE CHAAGE shall be rebated under
the Rule of r8's. ~
In the event of default the due and punctual pa~~ment of any installment on this Note for a perio~l of
~}~i,•t3 (30) days, or if any statement, representation or warranty in any appiication for the credit evidenced
' t~s• this Note is found to be untrue in at~y material respect, or in the event THE UNDERSIGNED, VPITHOUT
~
' THE PRIOR W'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL~ ENCUMBEB (EXCEPT
' FnR ANY MORTGAGE WHICH IS SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
('L'MBER OR COMMIT Ai~'Y RREACN OF THE MORTGAGE OR PF,RMIT OR SUFFER ANY LIEN TO
~ F.1IST ON THE REAL PROPERT~' PURCHASED BY THE U:~'DERSIGNED AND FINANCED THROUGH
s TEiE CREDIT EVIDENCED BY THIS :~'OTE or in the event of the incompetency. insolvency (hoxsoever
e~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~ clue shal! become immediately due and pa~•able at the option of the holder hereof without demand. presentment
! ~r notice of any kind. Any failure of hoider to exerci~e said option shall not constitute a waiver of the right
~ to exercise the same at any other time.
Time i"s of the essence of this ~•ote. In the event any installment is not paid when due or within ten
days thereafter, the holder may collect, and the nndersigned agrees to pay a late charge on such installment in
~zn amount equal to 5','~ of such installment or $5, whichever is less, and in the event this Note is collected by
]au or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law.
The undersigned and all endorsers or other parties to thi, note jointl~ and severally transfer, convey and
assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in l~ankruptcy, to pay this note in full, with ali costs of collection,
and do hereby direct any trustee in bankruptcy having posse~sion of such homestead or esemption to deliver to
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof, and do hereby, jointly and se~•erally, appoint the Holder the attorney in fact for
each of them, to claim a~ and all homestead exemptions alloN•ed i,~• law.
' A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
' :~11iERICA, INC., on Lot No1~S2~~that certain Condominivm known aa OUTDOOR RESORTS AT ~TETTLES
ISLA:~tn, and on any improvements, fixtures or after acquired property added thereon, a.g shown by plat re-
c~~rded'Sn the Oflice of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
, throi~~1S 1J. ' ~ 8,70M~~~ FAGF~~~ ' ~ ~
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