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r};~, ~1z~rtgagor, in consideration of the principal sum specified in the promissory note hereafter described, re-
~~~~i~-c~l fmm OVTDOOR RESORTS OF AMERICA. INC., a corp~ tion organi ed and existing under the Laws
~~f the State of Tennessee~ the Mortgagor, hereby on this_tr~-~ day of I7~%~i.F! , 19~,
niuz•tga~es to the \Iortgagee the real property in St. Lucie County. Florida, described as:
, Lot I~'o. ~36 O in that certain condominium kno~vn as OUTDOOR
? RESORT~ OF A13ERICA AT NETTLES ISLAl~'D, as shown by plut
recorded in the Office of the Circuit Court in and for St. Lucie County~ .
" Florida~ in Plat Book 16, page 1:1A through 1J. '
THIS IS A PURCHASE MO~TEY ~fOBTGAGE
~s security for the payment of the promissory note of which the follo~ving is a copy :
tnstcllrnent Note and Disclosure Staternent
-9 ~ 2g1. 2g ~ St . Lucie County ~orida
~~lG US~ S 19~
For Value Beceived~ I, we or either of us promise to pay to the order of OUTDOOR RESO~tTS OF
A~IERICA, INC., P. O. Box 1116. Jensen Beach, Flor ida. 33457~ or any other place as the holder hereof may
Nin~ thousand two hundred eighty-one 9~281.2$
de~isnate in writing. the sum of -s ~~.o~~, nn ( ) Dollars.
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
CHARGE on the amount financed, payable in --~-96'-""equal consecut~~monthly installments of
S q~ -6g----~-- each, and the first installment to become payable on th~day of ~v~ B
19~, and one such instaUment to become due and payable on th ~ day of ea,ch succeeding month
; ~~ntil the whole of said indebtedness (Total of Payments) is paid. In the event of prepsyment in full by cash
~ !~efore the final installment date. the unearned portion of the FINANCE CHAAGE shall be rebated under
j the Rule of i8's.
~ In the event of default in the due and punctual payment of any installment on this Note for a period of
~ thirty (30) days. or if any statement, representation or warranty in any application for the credit evidenced
§ b~~ this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
~ THE PRIOB WRITTEN CONSENT OF THE HOLDER HEBEOF, SHALL SELL, ENCUMBEB (EXCEPT
F~R ANY MORTGAGE WHICH 1S SECURITY FOR. THIS NOTE) OR OTHEKWISE DISPOSE OF O~t EN-
CtiMBER OB COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
F:YIST ON THE REAL PKOPEftTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howsoever
p~~idenced) or bankruptcy of anuone or more of the undersigned~ then the entire remaining indebtedness then
due shall become immediately due and payable at the option of the holder hereof without demand~ presentment
~ or 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 installment is not paid when due or vrithin ten
~ days thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in
equal to b Jc of such instaliment or $5, whichever is less, and in the event this Note is collected by
~ an amount
~ law 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 this note jointly and severally transfer. convey and
~ assign to the Holder a sufl3cient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of collection.
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
~ tne 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 severally, appoint the Holder the attorney in fact for
~
each of them, to claim at:~ and all homestead exemptions allowed by law.
YV~
~
A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF'
~ Ai~1ERICA. INC., on Lot No~~in that certain Condominium known aa OUTDOOR RESORTS AT NE'ITLES
~ 1~i.AND, and on any improvements~ fixtures or after acquired property added thereon, as shown by glat re-
corded in the Of~'ice of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
~ Q,
~ through 1J. 7-~6 ~~3 ~ ~
~ r 220 20~3 4
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