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ORTGAGE
N2- e ~''o ~ c 2`79'71~ .
the mortgagor. in consideration of the principal sum specified in the promissory note hereafter described. re-
rei~•ed from OUTDOOR RESORTS OF AMEItICA, INC., a corporation organized and existing under the Laws
of the State of Tennessee, the Mortgagor. hereby on this~.L`'~day of ~QT~B~J ~ 19.Z.~ .
mortgages to the Mortgagee the real roperty in St. Lucie County, Florida, described as:
Lot No 'n that certain condominium known as OUTDOOR
RESOBTS OF ADdERICA AT NETTLES ISLAND. as shown by plat
recorded in the Oflice of the Circuit Court in and for St. Lu~ounty.
Florida, in Plat Book 16, page 1:1A thmugh 1J. p~ ~ Q/
THIS I3 A PURCHASE MONEY MOItTGAGL~~MMTaTp
~~E~ r,~e~E f:P~~
P~ l,~
As security for the payment of the pmmissory note of which the following is a co~ C~ ~O~GfR ~'01T4~ ~~S ~ 19~~~~
Instailment Note and Disclosure Statement ~'R Q°"RT, S~"~~,f -
~ S, 505.00 St. Lucie County ~orida
~ ~ Q~~R ~ is~7,~.
For Value Received. I, we or either of us promise to pay to the order of OUTDOOIt BESOBT3 OF
AtiiERICA. INC., P. O. Box 1116, densen 'Beach, Flor ida, 33457, or any other lace sa tbe holder hereoi may
Eight thousand five hundred and ~ive 8.505.00
de~ignate in writing. the sum of ( ~~ll~•
this sum being the Total of Payments referred to in the Disclosun Sta ment below. which include~ a FINANCE
CHARGE on the amount financed. payable in -60- ~ual consecuti
Jre, monthly instaUments of
~ 141. 7 5-- ~b, ~ the first instaliment to become payable on th ~ of ~
19~, and one such installment to become due and payable an the ~ sr dgy oi esc}t succeeding month
until the whole of said indebtedness (Total of Payinents) is paid. In the event of prepayment in full by cash
before the final instaltment date, the unearned portion of the FINANCE CHABGE ahall be rebated under
the Rule of ?8'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
by this Note is found to be untrue in any material respect, or in the event THE ITNDEBSIGNED. WITHOUT
THE PRIOR WBITTEN CONSENT OF THE HOLDER HEBEOF~ SHALL SELL, ENCUMBEB (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OA OTHEBWISE DISPOSE OF OR EN-
CUMBEft OR COMMIT ANY BREACH OF THE DdOBTGAGE OR PERMIT 08 SUFFEB ANY LIEN TO
` EXIST ON THE REAL PROPER,TY PURCHASED BY THE UNDE~tSIGNED AND FINANCED THROUGH
i THE CBEDIT EVIDENCED BY THIS NOTE or in the event of the incompeteney, iusolvency (howsoever
~ evidenced) or bankruptcy of anyone 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 within ten
days thereafter. the holder may collect. and the undersigned agrees to pay a late charge on such installment in
an amount equal to 5% of such installment or $5, whichever is less. and in the event this Note is collected by
!~~v Qr t!::^~Lgh a. a:'.~c-~n~; a~ ;a~c uP ilIIt~act is~~ICe.' tjlEYCUf, tne 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 sufficient amount of such homestead or exemption as inay be allowed, including such
homestead or exemption as may be set apart in bankruptcy. to pay this note in full~ with alt costs of collection.
and do hereby direct any trustee in bankraptcy having possession of such homestead or exemption 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, ap.point the Holder the attorney in fact for
~ each of them. to claim acn and all hnmPqte3d osemgt;!?*~s W~!~~•.~~ b~ '.s:v.
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A hrst mortgage for the s urity of the aforesaid indebtedness is retained by OUTDOO~t RESORTS OF
~ _
~ A~iERICA, INC., on Lot No 'n that certain Condominium known aa OUTDOOR BESOftTS AT NETTLES
ISI.A?v'D, and on any improvements, fixtures or after acquired property added thereon~ as shown by plat re-
t corded in the Office of the Cireuit Court in and for St. Lucie County~ Florida, in Plat Book 6, page 1:1A
through 1J. ~o _ 17- 7,~
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