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MORTGAG E , . ~
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the m~rtKagor, in consideration of the principal sum specified ~n the promissory note hereafter described~ re-
.•~~i~•ed from OUTDOOR RESORTS OF AMERICA. INC., a corporation organized nd existing under the Laws
uf the State of Tennessee, the Mortgagor, hereby on thi~~-day of - 19~~
nwrtga~;es to the 1liortgagee the real property in St. Lucie County. Florida. descri ~ as:
Lot No.~_~3 -_~in that certain condominium known as OUTDOOB
St~ RESORTS OF AMERICA AT 1~E'I"fLES ISLAND, as shown by plat
F J,.~`,~~ ~°~i recorded in the Ott'ice of the Circuit Court in and for St. Lucie County,
Florida, in'Plat Book 16. page 1:1A through 1J. ~
THIS IS A PURCHASE 11IONEY itORTGAGE ~ ~~s•"~= -
Ai 'C• r • •'r p.,~,
securit~~ for the payment of the prnmissory note of which the following is a copy: T To p~~,~.p ~.3<<,,~,., •!S
7~_,
Installment Note and Disclosure Statemen'~'~'r ~"~'`~,,,RjPo~.S
~ 3,~2~. 8$ St . Luc ie Couodty
~ -/G 19~
For Value Recei~ ed. I. a e~or . either of us prom ise to pay to the order of OiJTDOOR RESORTS OF
:~~tERICA, INC., P. O. Box ll~eee~hous~n~~s~~ ~~7d1Q~~~~~11~y-ace as the holder hereof may
the sum of QQ~~ ) Dollars.
clt~~i~nate in ~vriting. 3 629.88
t},;, sum bein~,• the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
E t~ RGE on the amount financed, payable in - 36' equal consecutive monthly instaliments of
~ 100 .83 each. and the first installment to become payable on thp lst day of- ~y ,
l~ 74. and one such installment to become due and payable on the- lst day of each succeeding month
! t~ntil the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by ca.sh ~
~ ht~iore the fina} installment date, the unearned portion of the FINANCE CHAAGE shall be rebated under
~
~ the Rule of 78's. -
In the event of default in the due and punctual pay~ment of any instaliment on this Note for a period of
tnii•ty (30) days~ or if any statement, representation or warranty in any apglication for the credit evidenced
t;~• this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
T~[E PRIOR WRITTEN CONSEI~T OF THE HOLDER HEREOF, SHALL SELL~ ENCUMBEB (EXCEPT
FnR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OB EN-
t'UMBEB OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OB SUFFER ANY LIEN TO
Eti1ST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
TIiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever i
e~•idenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness then ~
ciue shall 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 of the right ~
to exercise the same at any other time. ~
'ISme is of the essence of this Note. In the event any installment is not paid when due or within ten ~
clays thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such'installment in ~
an amount equal to 57 of such instailment or $5. whiche~er is less, and in the event this ~tote is collected by
~f la~+ or thmugh an attorney at law or under advice thereof, the undersiKned agrees to pay all costs of coliection,
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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 severally transfer. convey and
~ assign to the Nolder a sufficient amount of such homestead or exemption as may be allowed, including such
home.Stead or exemption as may be set apart in bankruptcy, to pay this note in full, «ith all costs of collection,
and do hereUy direct any trustee in bankruptcy having posses~ion of such homestead or exemption'to deliver to
the Holder a suf~'icient amount of property or money set apart. as exempt to pay the indeUtedn~ss evidenced
hereby, or any renewal thereof, and do hereby. jointly and se~•erall~, appoint the Nolder the attorney in fact for
each of them, to claim at:~~ and all homestead exemptions allo~ed by IaH.
~ A first mortgage for t~,e, .s~ec ' of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
.aiiERICA, INC., on Lot No.~ n that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
ISI.AtiD, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
c~~rded in the Oflice of the Circuit Court in and for St. Lucie County, ~'lorida, in Plst Book 16, page 1:1A
throu~;h 1J. 600K~~~ PAGE~Vt70
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