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C0 ~ M 0 R T G A G E 9~ti2
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~ a ~ ~S~dnev T. Busch & Rose A. Busch (his wife) ~
the mc~rt~,?agur, in consideration of the principal sum specified in the promissory note hereafter described, re~-
~~t~iced from OUTI)OOR RF.SORTS OF ADiERICA. INC., a corpor~tion organized and existing under the Laws
~~f the State c?f Teiinessee. the Mortgagor, hereby on this-2$___day of November _ , is73 .
n~~~rt~;~?ge~ to the riortgagee the real propert~ in St. Lucie County, Florida. described as:
Lot No._~2~I--.--in that certaiu condominium known as OUTDOOR
RESORTS OF ADiER1CA AT NETTLES ISLAND, as shown by plat
recorded in the Ofi'ice of the Circuit Court in and for St. Lucie County,
Florida, in Plat Book 16, page 1:1A through 1J.
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THIS IS A PURCHASE MONEY 1110RTGA(~ ~N q~ ~N PAYM
`ecurit~• for the pa~,•ment of the promissory note of which the following is a co~ TD GIAP1~ ~1_1~PE'~~?:a~cb~,E~
ACTS OF lsi1. •
lnstallment Note ond Distiosure Staterr~~
oov~r,` ~'i
~~E
9,2$1 • 28 St . Lucie County , Flor~"a
November 28 , _ lg ~ 3
F~~r Value Recei~•ed, I, ~~•e or either of us promise to pay to the order of OUTDOOR RESORTS OF
~~ERI('A. INC., P. O. Bo~ 1116, ~~ne t~iousanc~ ~~wo3I15i1il~re~ ~i-g~i~y
~o~~ the holder hereof may
~;,~;i~,~nate in ~sriting, the sum of r~Q~}~j ~ 9,281.28~ ~llars,
r},i~ .um Uein~; the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
i ~'EIARGE on the amount financed, payable in '96- equal consecutive monthly instaliments of
? ; 96.68-- each, and the first installment to become payable on the lst day of February ~
~ 1~ 74_, and one such installment to become due and payable on the- ls~ day of each succeeding month
~ >>r~til the N~hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
_ ~~efore the final instaliment 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 period of
~ ?}~irt,r• (30) days, or if any statement. representation or warranty in any application for the credit evidenced
~ rn- this :~'ote is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT
~ T~iE PRIOR «'RITTEN COI~SENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBER (EXCEPT
~s FOR ANY MORTGAGE NHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF Oit EN-
~ ('L?MBER OR COMMIT A~'Y RREACH OF THE MOftTGAGE OR PERMIT OR SUFFER ANY LIEN TO
~ E.l'IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
TF~E CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
=y e~•i.ienced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
:u~ ciue shali become immediately due and payable at the option of the holder hereof without demand, presentment
~~r notice of any kind. Any failure of holder to exercise said option shall not constitute a waiver af the right
:~j to exercise the same at any other time. ~
Time is of the essence of this 1~'ote. In the event any instaliment 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, inst~llment in
an amount equal to 5`: of such installment or $5, whiche~er is less, and in the event this Note ~e-c lected by
law or through an attorney at law or under advice thereof. the undersigned agrees to pay all cost~ of~collection,
~ including reasonable attorney's fees and court costs to the extent permitted by Florida law. % -
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The undersigned and all endorsers or other parties to this note jointly and severally trans~er. convey and
assi~n to the Holder a sufficient amount of such homestead or exemption as may be allowed, filcluding such
homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs_,,,pf 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 property or money set apart as exempt to pay the indebted~Less evidettced
hereb~~, or any renewal thereof, and do hereby, jointly and se~•erally, appoint the Holder the attorn
y in fact for
each of them, to claim any and all homestead exemptions allowed by law.
r~r= A first mortgage for the sec~r~'ty of the aforesaid indebtedness is retained by OUTDOOR RESOKTS OF
- AbiERICA, 1NC., on ~t :~o. 954 ~n that certain Condominium known sa OUTDOOR RESORTS AT N~'TTLES
~;~<~3 ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
corded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
, through 1J. BOCK 22~ r~CE C7~7
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