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~ MORTGAGE 2~s3~4~ -
---~~e~~_,~. ~Haw~.~-s J~-?~ ~_~_~~~+~:.-s w ~1:~-_--
rhe niort~,?ag~u•, in con~ideration of the principal sum specified in the promissory note hereafter desrrihed, re-
~ t~i~-iKl frum OL'TDOOR RESORTS OF AMERICA. INC., a corporation organized and existing under the La«•s
~~f the State of Tennessee, the Mortg~gor. hereUy on this_ 37_ ___~ia~• of-__~____~~dTD(3~~~ 19 _7.,~_,
m~~i•t~;a~,~e~ to the :1lortgagee the real property in St. Lucie C~,unt~-, Florida, descriUecl as:
Lot ~'0.__?3?_f ~ iii that certain condominium kno~sn as OUTDOOR
RESOR'fS OF ~DiERICA AT ti'F.TTLES ISI.AND, as shown Uy plat
recorded in the Of~ice of the Circuit Court in and for St. Lucie County,
Floridn, in Plat Book 16. page 1:IA through 1J.
THIS IS A PURCHASE ;1~OTEY :1fORTCAGE
.a. securit~• for the pa~•ment of the promissory note of which the follo~ving is a copy :
Installment Note and Disclosure Statement
a-~-~~ ~ ' ~i ~ M~C 1 - ~"f~LON
, Florida
~ ~z Ge~~~2. ~s~
For Value Recei~•ed, I, ~•e or either of us promise tu pay to the order of OLJ'fDOOR RESORTS OF
:1~IERIC~, I\C., P. O. Bo~ 1116, Jensen Beach, Florida, 3345?~ or any other place a the holder hereof may
~le:i~,•nate in ~~•riting. the sum of~SLi~__IX~~_S~Q %
~c.~G ftt!r+~21.'~_~L~_~~ ~ ¢ Q7 ( ~ . ~~1 Dollars,
?hi, sum bein~,• the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
c~IiARGE on the amoe~nt financed, payable in-_= ~6_=-'_ equal consecutive tnonthly installments of
•~C'~' ____-each, and the first instaliment to become payable on the ~~_.day of~Arl4t
J~i-
l~~ and one ~uch installment to become due and payabte on the___~__day of each succeeding month
~~r~?i1 the «~hole of said indet~tedness (Total of Payments) is p:~id. In the event of prepayment in fult by cash
i~t~f~,re the fina} installment date, the uneacned portion of the FII~'ANCE CHARGE shali be rebated under
?he Rule of 78's,
In the e~•ent of default in the due and punctual payment of any installment on this I~'ote for a period of
;hii•ty (30) days, or if any statement, representation or warrant~• in any application for the credit evidenced
t this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOIJT
; T1IE PRIOR R'RITTEN CO\'SENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR Ai~Y MORTGAGE ~t'HICH IS SECURITY FOR THIS :~TOTE) ~R OTHER«'ISE DISPOSE OF OR El\T-
('LMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIE:~ TO
F:X1ST OI~' THE REAL PROPERTY PURCHASED BI' THE UNDERSIGNED AND FINANCED THROUGH
~ THE CREDIT EVIDENCED BY THIS NOTE or in the e~ent of the incompetency. insolvency (howsoever
~ e~-idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
<iue shall become immediately due and payable at the option af the holder hereof without demand. pre¢Entment
~~r notice of any kind. Any faih~re of holder to exercise said option shali not constitute a waiver of the right
E to exercise the same at any other time.
' Time is of the essence of this i~'ote. In the event any installment is not paid when due or within ten
;
days thereafter, the holder may collect, and the undersigned a~reeti to pay a late charge on such installment in
an amount equal to 5;~~ of such installment or ~5, w hiche~•er i. less, and in the event this Note is collected by
: law or through an attorney at law or under advice thereof. tbe undersigned agrees to pay all costs of callection. i
inciudin~ reasonable attorney's fees and court costs to the extent permi~ted by Florida law.
The undersigned and all endorsers or other parties to this note jointly and se~•erajly transfer, com~ey and
assign to the Nolder a sufficient amount of such homestead or exemption as may be allowed, including ~uch
t homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of collection, ~
and da hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
the Holder a sufficient amount of property or money set apart as e~empt to pay the indebtedness evidencecl •t~~
hereby, or any renewal thereof, and do hereby, jointiy and se~•erally, ap~-,oint the Holder the attorney in fact for `
each of them, to claim a~:,~ and ali homestead exemptions allo~i•ed b~~ laK•.
A first mortgage for the s urity of the aforesaid indel~tecl~iess is retained Uy OUTDOOR RESORTS OF
~;1iERICA, INC., on Lot ?~'oZ~in that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
; ISI.ANI~, and on any improvements, fixtures or after acyuired pmperty added thereon, as shown by plat re-
corded in the Office of the Circuit Court in and for St. Lt~cie ('~~unty. Fiorida, ' t Book 16, page 1:1A
thrrn~~~h 1.1. '--fi ~52 k /
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