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M O R T G A G E 2~9~~s
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Lorrain~ P. briel or AuRust F. Gabriel ,
the mortgagor, in consideration of the principal sum speci6ed in the promissory note hereafter described. re-
ceived from OUTDOOR RESOBTS OF AMERICA, INC., a corporation organized and existing under the Laws
of the State of Tennessee, the Mortgagor, hereby on this 3rd day of November _ ls 73
mortgages to the blortgagee the real property in St. Lucie County, Florida. described as: ~
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. Lot No1302/II in that certain condominium known as OUTDOOB ?R
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RESOBTS OF AMERICA AT ~1E"fTLES ISLAND, as shown by plat ~+tnc,~ pp~
recorded in 'the Office of the Cireuit Court in and for S~ ~ County,
Florida. in Plat Book 16. page 1:1A through 1J. ~ue on ; jy
THIS IS A PURCHASE MONEY MORTGA~YT~
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As security for the payment of the promissory note of which the following is a:~y; ~
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. • `l~~T ~~KT~lT~U~~ S ~ 19/1.
~ Installment Note and Disclosure Stotement sr ,F , ~r :
~7, 643 .52 ~ St . Lucie Cotmty ~-jorida
~ - November 3 , lg 73
For Value Received~ I~ we or either of us promise to pay to the order of OUTDOOR RESORTS OF
Ab1ERICA. INC.. P. O. Box 1116, Jensen Beach~ Flor ida, 33457 or an other ~i~ee the holder hereof may
Seven Chousand sig• ~iun~red t~orty- 7 643.52
designate in writins, the sum of - - nn _ ) DoUars,
this sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE -
CHARGE on the amount financed, payable in -'-~---96--~---~ciual consecutive monthly installments of
~ C 79 . b2-'----' each, and the first installment to become payable on the lst day Qf January ~
19~, and one such installment to become due and payable on thP lst day of each succeeding month
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the final installment date, the unearned portion of the FII~'ANCE CHABGE shall be rebated under
the Rule of 78's.
In the event of default in the due and punctual pay-ment 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 UNDERSIGNED. WITHOUT
THE PRIOA WRITTEN CONSENT OF THE HOLDEft HEREOF. SHALL SELL, ENCUMBEK (~XCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE Oft PERMIT 08 SUFFER. ANY LIEN TO
EXIST ON THE ftEAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGIi
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 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 shali not constitute a waiver of the right
to exercise the same at any other time.
Time is of the essence of this 1`'ote. 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 instaltment or $5. whiche~er is less, and in the event this Note is collected by
law or through an attorney at law or under advicE thereof, the undersigned agrees to pay all costs of collectio~°
including reasonable attorney's fees and court costs to the extent permitted by Florida law. '1°
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey an
assign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including suc
homestead or exemption as may be set apart in bankruptcy~, to pay this note in full~ with all costs of collection,~
ar~d do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver tdR
the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenc
- herehy, or any renetival thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact fo
e~ch of them, to claim ar~~ and all homestead exemptions allo«•ed by la~v. _
A~rst mortgage for the security of the aforesaid indebteclness is retained by OUTDOOR. RESORTS OF-
~ 1~*ERIr..A, INC., on Lot Nol.~~$~ that certain Condominium known aa OUTDOOR RESOftTS AT NETTLES
tS:.A:3n; a.r.d on any improvements, fixtures or after acquired nroperty added thereon~ as shown by plat re-
~ c~rded in the Office of th~ Cii`cuit Court in and for St. Lucie County. Florida, in Plat Book 16, page 1:1A
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