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the mort~,•.i~or, in consideration of the principal sum specified in the promissury note hereafter d ribed, re-
rei~•ed from OL'TDOOR RESORTS OF AMERICA~ INC., a co~ation orga ized and ex~sting under the Laws
o f the State of Tennessee. the Mortgagor, hereby on this_~____ _-day of V,`~~•j , 19~.
murtgage~ to the blortgagee the real property in St. Lucie County~. Florida, escribed as:
Lot No.-~~~ in that certain condominium known as OUTDOOR F~ sT~,;~~
. RESORTS OF AMERICA AT I~ETTI.ES ISLAND, as shown by plat ~r~~
~ recorded in the Clffice of the Circuit Court in and for St. Lucie County.
~ Florida. in Plat l3ook 16, page 1:1A through 1J. Rf~IV~
~ oH =~-~_,Tk
THIS IS A PURCHASE riONEY MOftTGAI~~~s •c~ ,h. 1~~ .
As security~or the payment of the promissory note of which the following is a copy t~ ~~~EU ~js~` ''t L~F~F ~Ax~
~iE~ RQCfP, p~1T ' qCTS ~ j9a'FFr/p
,T ~uts
~ Installment Note and Discfosure Statemer~~" ~?RT
• ; r_ . . ST, l(/C~~ />>r~
G 9 s 28 28. S t Luc ie County ,~~a ~
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For Value Received, I, We or either of us promise to pay to the order of OUTDOOR RESORTS OF
j A`tERICA, II~'C., P. O. Box 1116, Jensen Beach. Flor ida, 33457, or any other place as the holder hereof may
~ Nine thousa d~~~imdred eighty-one ~ 2g1 _ 2g ~ Dollars,
~ desi~:nate in writing, the sum of _
this sum being the Total of Payments referred to in the Disciosure Statement below, which includes a FINANCE
E ('~~ARGE on the amount financed. payable in '96- equal consecutive monthly installments of
i
~ ~_~.~i~-=_-__each, and the first installment to become payable on the "~~'iO~day of- ,
~ 1~1_~~ and one such installment to become due and payable on the_~~day of each cceeding month
~ until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash -
t,efore the final installment date, the unearned portion of the - FINANCE CHAAGE shall he rebated under
the Rule of ?8's.
~ In the event of default in the due and punctual pay~ment of any instaliment on this Note for a period of
~ thirty (30) days. or if any statement, representation or warranty 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. WITHOUT
~ THE PRIOR ~'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL. ENCUMBER (EXCEPT
~ FOR ANY MORTGAGE WHICH 1S SECURITY FOB THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~ CUMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT Oft SUFFER ANY LIEN TO
~ EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
~ THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howsoever
~ e~~idenced) or bankruptcy of anyone or more of the undersigneci, 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 I~'ote. In the event any installment is not paid when due or within ten
~ days thereafter. the holder may collect, and the undersifined agrees to pay a late charge on such instaliment in
` an amount equal'to 5 i~ of such instaUment or $5, whichever is less, and in the event this Note is collected by
law or through an attorney at law or under advice thereof, the undersigned agtees to pay all costs of collection.
~~z includinR reasunable 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 may be allowed~ including such
homestead 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 posse~sion of such homestead or exemption to deliver to
- the Holder a sufl'icient amount of property or money set apart as exempt to pay the indebtedness e~idenced
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 exemption~ allowed by la~+•.
r.t :
-
A first mortgage for the sec~
ity of the aforesaid indebtedness is retained Uy OUTDOOR BESORTS OF
AMERICA, INC., on Lot No.~~'~t"n that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
ISI.AND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
corded in the Oflice of the Circuit Court in and for St. ,Lucie County,~F~o n Plat Book 16, page 1:1A
_ throu~-h iJ. • ' ~ 8001(~.~.~ pAC: ty
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