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~ MORTGAGE
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the mort~;:~~;or, in cons' ration of the principal sum specified in the promissor~ note hereafter described~ re-
~•~~i~•ed fmm OUTDOOR RESORTS OF AMERICA, INC., a cor~or~tion organized and existing under the Laws
~~f the State of Tennessee~ the Mortgagor, hereby on this~~ ~rday of-~- , 19 7.
mol•t~,?:ages to the Mortgagee the real~perty in St. Lucie County~ Florida, described as:
Lot No.11_ ~3 ~
n that certain condominium known as OUTDOOR
~ RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
s~~ recorded in the Office of the Circuit Coart in and for St. L i~e County~
~ No~ Florida, in Plat Book 16~ page 1:1A through 1J.
d~` . THIS IS A PURCHASE MONEY MORTGAG'~~Ta~ ~66
securit~• for the payment of the promissory note of which the following is a c,qpy: ~A~~~NCje ~pA
.,~~r f'~ ~ pfr ~~?r
Installment Note and DisclosureStatemen~~t~R ~~R~
~_7~0~00 St. Lucie County • tw~,~or~da '
1
19~
s rom ise to a to the order of O~ RESORTS OF
For Value Rece~ved. I. Ke or e~ther of u p p y
a~1ERICA, INC.. P. O. Box 1116 Jensen Beach. Flor ida. 33457. or any other place as the holder hereof may
~ Seven thousand eight hundred thirty ~ g30.0
cie~i~?nxte in ~vriting, the sum of f ( ~ ~ Dollars,
ti~is sum being the Total of Payments referred to in the Disclosure Statement below. which includes a FINANCE
~'IIARGE on the amount financed, payable in -60- equal consecutive monthly installments of
`_1.~Q.50-- each, and the first installment to become payable on ~~/~L--day of~ L ,
1~ and one such installment to become due and payable on the-~-day of each succeeding month
; ~~r~til the whale of said indebtedness (Totai of Payments) is paid. In the event of prepayment in full by cash
~ !~efore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
~
; the Rule of 78's.
~ In the event of default in the due and punctual payment of any installment on this Note for a period of
tnirty (30) days, or if any statement. representation or warranty in any ~pplication for the credit evidenced
~ t~~~ this Nate is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OB OTHERWISE DISPOSE OF OR EN-
CUMBEft OR COMMIT ANY BREACH OF .THE MORTGAGE OR PERM~T OR 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 undersigned, then the entire remaining indebtedness then
diie shall become immediately due and payable at the option of the holder hereof without demand. presentment
or notice of any kind. Any failvre 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 Note. 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 J~ of such installment or $5. whichever is less. and in the event this Note is collected by
~p law or throu gh an attorne
y at law or under advice thereof~ the undersigned agrees to pay all cost~ of collection,
~ including r.easonable 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 transf~r, 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 bankruptcy, to pay this note in full, with all cost5. of 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~ess evidenced
~ hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorngy in fact or
each of them. to claim ar;~ and all homestead exemptions allowed by law. '
~ A first mortgage for the secy;ity of the aforesaid indebtedness is retained by OUTDOOR BESORTS OF
~ AMERICA, INC.~ on Lot No.~ j'~n
that certain Condominium known sa OUTDOOR RESORTS AT NETTLES
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.
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~OOK~B PAGf ~~~U
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