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- MORTGAGE ~84'745
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the mortgag r. in consi eration of the principal sum pecified in the promissory note hereafter described. re-
cei~•ed from OUTDOOR RESOR,TS OF AMEKICA, INC.. a corpo~tion orgaaized and existing under the Laws
of ihe 3tate of Tennessee, the Mortga8or, hereby on thi day of ~~a~ ~ a-~' . 19~~
mortgages to the biortgagee the real property in St. Lucie unty. Florida. described aa:
' I,ot No 6 'n that certain •condominium knov~m aa OUTDOOIt -
Stt~ RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat
Fv?-~~xEO ~ recorded in the Office of the CircuiL Court in and for S~ Lucie CountY,
o~i~W. Florida, in Plat Book 16, paSe 1:1A through 1J. ~E7yFp .
- THI3 LS A PUBCHASE MONEY MOATGA(~T~ ~
As security for the payment of the promissory note of which the following is a copy. T~ CI(~pFT~GlB~ f~;r P~1't!f~ ~
~fR~l~l'~• ~i:lS ~ p"OPE'R~
Installment Note and Disclosure Stateme~i1"~R ~„~PoT~.s .
5 9, 7 20 . 00 St . Lucie County ~~~,l~o~ia ~
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For Value Received. I, we or either •of us promise to pay to the order oi OUTDOOA RESOIiT3 OF
AbiERICA. INC., P. O. Box 1116. Jensen Beach, Flor ida, 33467, or any other place aa tbe holder hereof may
Nine thousand seven hundred twenty 72p_00
designate in writing, the sum of ~ 100 (4 - ) Dollara,
this sum being the Total of Payments referred to in the Disclosure Statement below, which includes a FINANCE
CHARGE on the amount financed, payable i~ -60' ~ual consecutive montlily instaUmenta of
! S 162 .00-- each, and the firat instaUment to become payable on the~~ d~y
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E 19~, and one such installment to become due and payable on thp ~A9 of each succeeding month
~ untii the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
4 before the final installment date, the unearned portion of the FINANCE CHAKGE ahaU be rebated under
~ the Rule of ?8's. .
~ In the event of default in the due and punctual payment of any instaUment on this Note for a period of
~ thirty (30) days, or if any statement, representation or warranty in any application for tbe credit evidenced
~ by this Note is found to be untrue in any material respeck or in the event THE UNDEBSIGNED, WITHOUT
~ T:iE PRIOR WBITTEN CONSENT OF THE HOLDER HEftEOF, SHALL SELL, ENCUMBE~t (E%CEPT
FOR ANY MORTGAGE WIiICH 13 SECU~tITY FOR THIS NOTE) OR OTHEItWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY BREACH OF THE MO~tTGAG~ OR PERMIT Olt SUFFER ANY LIEN TO
EXIST ON THE REAL PBOPE~tTY PURCHASED BY THE UNDERSIGNED AND FINANCED TI~ROUGIi
THE CftEDIT 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 immediatelq due and payable at the option of the holder hereof without demand, presentment
or notice of any kind. Any failure of holder to exereise said option shall not constitute a waiver of the right
~ to exercise the same at any other time.
~ Time is of the essence af 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 tn ~y -a late charge on auch installment in
an amount equal to 5% of such installment or $5~ whichever is less. and in the event this Note ia collected by
law or through an attorney at law or under advice thereof, the undersigned agrees to pay all coats of collection,
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including reasonable attorney's feea and court costs to the extent permitted by Florida law.
~ The undersigned a~nd all endorsers or other parties to this note jointly and severally transfer, convey and
~ assign to the Holder a sufi'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 costs af 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 eX~empt to pay the indebtedness evidenced
~ nereby, or any ren~wal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
~ each of them, to claim ar~? and all homestead exert~tions allowed by law.
- A first mortgage for the security of the aforesaid indebtedness is retained by OIi'TDOOR BESOKTS OF
~a A:~IERICA, INC.. on Lot NQ~~n that certain Condominium known as OUTDOO~t ~tESORTS AT NETTLES
~ ISLAND, and on any improvements, fixtures or after acquired property added thereon, aa shown by plat re-
cnrded ~n the Ofi'ice of the Circuit Court in snd ~jucie Count Florida, in Plat Book 16, page 1:1A
r~ _~-_~o'~'~. BOOK~O PACE~1~b ~~~io-17-?~
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