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=~,he m~?rt~ii~,*O!•, in consideration of the principal sum specified in the promi~.sory note hereafter described. re-
~•~~i~•eci frum OtJTDOOR RESORTS OF AMERICA. INC.. a corporation organized and existing under the Laws
uf the State of Tennessee, the Mortgagor, hereby on this~~_._day of ~T~ N U A'~y ~ 19-~~~ i
me?rt~;.~~e~ to the Mortgagee the real_property in St. Lucie County, Florida. de.gcribed as:
Lot No.~~__in that certain condominium kno«n as OUTDOOR
RESORTS OF AMERIGA AT NETTLES ISLAND, as shown by plat
recor.ded in the Oftice of the Cireuit Court in and for St. Lucie County,
Florida, in Plat Book 16. page 1:1A through 1J.
THIS IS A PURCHASE 1iONEY MORTCA(:E q~,C ~~~,~~~E~? P~r?•.n,T p~ T~
,erurit~~ for the payment of the promissory note of which the following is a cop~ T~ ~'ER 71_13~, n~~~ERir.
~E'R IbITItAS "iS OF 11A~1. .
Instaliment Note and Disclosure Statemer~!" ~R ~,,,,~,E
` _17~.?~7
-1Si_ ~t-. T »~i p CC1LUitT-.-, Florida
_~L~A N. 19Z`~
For `'alue Recei~•ed, I, we or either of us promise to pay to the order of OUTDOOB RESORTS OF
:~~I~:RI('A. INC.. P. O. Box 1116. Jensen Beach, Flor ida, 33457. or any other place as the holder hereof may
Seventeen thousand two hundred thirty-17,237.7
dr~i~,mate in ~vriting, the sum of- ~o~~Q ~._7~~ nn ( ~ Dollars.
thi~ ~um being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
~`I1~RGE on the amount financed. payable in.._ '96' equal consecut~ve monthly ir.~,.allments of
; 1~ .~f each, and the first installment to become payable on the day of f~~ .
~ and one such installment to become due and payaUle on the-~ day of each succeeding month
~ 1~~~. .
t ~~t~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by ca.sh
i t~efore the fina! installment date. the unearned portion of the FINANCE CHAAGE shall be rebated under
a -
~ 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
t,~~ this Note is found to be untrue in any material respect. or in the event THE UNDERSIGNED. WITHOUT
THE PRIOft WRITTEN CONSENT UF THE HOLDER HEREOF. SHALL SELL, ENCUMBEft (EXCEPT
I~'OR ANY MORTGAGE WHICH 1S SECURITY FOft THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
~'UMBER OR COMMIT ANY BftEACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
E~IST ON THE REAL PROPERTY PURCHASED BY THE UNDEBSIGNED AND FINANCED THROUGH
Ti~E CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shall become immediately due and payable aL the option of the holder hereof without demand, presentment
ar 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
c:ays thereafter, the holder may collect. and the undersigned agrees to pay a late charge on such installment in
an am~unt equal to 57 of such installment 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 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 se~erally~transfer. convey and
~ assign to the Holder a suft~icient amount of such homestead or exemption as may be allowed, including such
homestead or exemption as may be set apart in bankruptcy. to pay this note in full, with all cost8 of collection,
~ and do hereby direct any trustee in bankruptcy having pos.session of such homestead or exemption to deliver to
~ the Holder a suflicient amount of property or money set apart as exempt to pay the int~ebtedness evidenced
~ hereb~, or any renewal thereof, and do hereby, jointly and se~erally, appoint the Holder the attorney in fact for
each of them, to claim a~ and all homestead exemptions alloH•ed by laH . ~
A first mortgage for the urity of the aforesaid indebtedness is retained by OUTDOOR RESOATS OF
~~iERICA, INC.. on Lot Na~~~,~in 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-
c•orded in the Office of the Cireuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
through 1J. ~ R ~,(rp PACE~O~V
~ 600K
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