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~;o~-+~ MORTGAGE ;~;g?~p?~
Robert Baker & Gertrude Baker his wife~_
the mortgagor. in consideration of the principal sum specified in the promissory note hereafter described. re-
~•ei~•ed firom OUTDOOR RESORTS OF AMERICA, INC., a corporation or~anized and existing under the I.aws
~~f the State of Tennessee, the Mortgagor, hereby on this__14Ch _day uf ~tober lg 73_,
mort~,•ages to the \iortgagee the real property in St. Lucie County, Floridx; described as:
Lot No. 88~II -in that certain condominium known as OUTDOOR
RESORTS OF ADiERICA AT NETTI.ES ISLAND, as shown Uy plat
~ 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 PUftCHASE :1iONEY MORTGAGE
As security f~ the paymen± of the promissoiy note of which the f~ltowing is a copy :
instollment ~/N'ote and Disclosure Statement
T itECf1VE0 _ IN P~Y?AENT OF 7AXE5 St Lucie GoLt*ity , Florida
Q~n 'nn - ~1JE OR CIASS 'C ~YT~,yGIB~ E'F ~;i;-.~l P~'.OPERIY~
_ Pur~swnr to cr.aP?~p ~i-~~.:. ~cis oF iyn. ~ October 14, lg 73
~ - ROGER POITMC ~
For Value Received, I, ~tl~o~~~~g~f ~Is ~~eF4.b pay to the order of OUTDOOR RESORTS OF
~~1ERICA, INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
de~ifinate in ~~•riting, the sum of Four thousatld and fift~?
&_00/100 ~4,050.00 ~ Dollars,
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
~ ('HARGE . on the amount financed. payable in _~?Q-_ equal consecutive monthly installments of
~
' ~ 67 -SQ --each, and the first installment to become payable on the lSt__day of February
1~__7~, and one such installment to become due and payaUle on the__ lst day of each succeeding month
t~ntil the whole of said indebtedness (Total of PaSments) is paid. In the event of prepayment in full by cash
t,efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of 78's.
In the e~•ent of default in the due and punctual payment of any installment on this Note for a per:od of
thirty (30) days. or i: any statement, representation or warranty in any application for the credit evidenced
bv 'this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED~ WITHOUT
THE PRIOR R'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR Ah'Y MORTGAGE WHi~H 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR COMMIT A~IY BREACH OF THE MORTGAGE OR PERMIT OR, SUFFER ANY LIEN TO '
EXIST ON THE REAL PROPERTY PURCHASED BY THE Uh`DERSIGNED AND FINANCED THROUGH ~
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency~ insolvency (howsoever ;
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then {
due sha:l 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 an~• installment is not paid when due or within ten
days thereafter, the holder may collect, and the undersi~ned agrees to pay a late charge on such installment in
~ an amount equal to 5;'S of such instailment_ or $5, whiche~ er is less, and in the event this Note is collected by
law or through an attorney at law or under advice thereof, the undersiRned agrees to pay all costs of collection, :
includin~ 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. com~ey and o,p i
assign to the Holder a sufficient amount of sueh homestead or exemption as may be allowed, including such " ~
;~omestead or exemption as may be set apart in bankruptc~, 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
the Holder a sufficient amount of propert~* or money set apart as exempt to pay the indebtedness evidenced
hereUy, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for ~
each of them, to claim ai:~~ and all homestead exemptions allo«•ed b~• la~. ~
A first mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR ftESORTS OF ~
AMERICA, INC., on Lot No88 II in that certain Condominium known sa OUTDOOR R~~ORTS AT NET'I`LES
~ ISI,AND, and on any improvements, fixtures or after acquired property added thereon, as shown by pla~'re-
corded in the Office of the Circuit Court in and for St. Li~cie County, Florida, in Plat Book 16, page 1:1A
- thrrn~~.~h 1.1. _ . '
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