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~J MORTGAG E
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• the mortgagor, in consideration of t e principal sum specified in the promi, ry note hereafter described. re-
rei~•ed from OUTDOOR RESORTS OF AMERICA. INC.. a corporation organized and existing under the Laws
of the State of Tennessee. the Mortgagor, hereby on this~~~-daY of fe6/~-va~ y , 192~.
mortgages to the Mortgagee the real property in St. Lucie County. Florida, described as:
Lot No ~n that certain condominium known as OUTDOO~t
.
RESORTS OF AMERICA AT NETTLES ISLAND. as shown by plat
st~ ~ recorded in the Office of the Circuit Court in and for St. Lucie County,
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~~xFA Florida~ in Plat Book 16. paSe 1:1A through 1J. ~~ryEn
THIS IS A PUftCHASE MONEY MORTGA~~ ~~~r~cie~ P~ T~
As security for the payment of t he promissory no te o f w hi c h t
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Instaliment Note and Disclosure Statemen~ f,,~
612 .48 St . Lucie Countv _ Floridu
~s" /~c6 ~ v1 19~
For Value Received, I. uc or either uf ss grcmise t~ ~?~!y to ~he ~rder of OUTDOOIt RESORTS OF
A1iERICA, INC.. P. O. Box t1l~ine sthousand sixa hundred tw'elve place a~ the holder hereof msy
desi finate in writing. the sum of ~ $ DO~~a~'
this sum being the Total of Payments referred to in the ise~ure Statement below, which includes a FINANCE
~'NAftGE on the amount financed. payable in -96- equal consecutive monthly installments of
c_1_~~ 1~ each, and the first installment to become payable on thP ~ s t day- of y-~
~I 1~~~. and one such installment to become due and payable on the ~ sr 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
~ l~efore the fina! installment date. the unearned portion of the FINANCE CHARGE shaU 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
thirty (30) days, or if any statement, representation or ~varranty in any ap~lication for the credit evidenced
bv this Note is found ta be untrue in any material respect, or in the event THE UNDEItSIGNED. WITHOUT
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOA THIS IvOTE) Oft OTHEBWISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PEBJ~iIT Oft SiJFFEB ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEBSIGNED A1VD FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incomgetency, insolvency (howsoever
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shail become immediately due and payable al 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~vaiver of the right
to exercise the same at any other time.
Time is of the essence of this Note. In the event any instal)ment is not pa.id when due or within ten
days thereafter. the holder may collect, and the undersigned agrees to pay a late char~e on such installment in
an amount 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 costa of collectian.
including 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 Holder a suflScient amount of such homestead or exemption as may be alloweri. including such
homestead or exemption as may be set apart in bankruptcy. to pay this note in full, with all costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
the ~Iolder a sufl5cient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof. and do hereby, jointlq and severally. appoint the Holder the attorney in fact for
each of them. to claim a~:; and all homestead exemptions allowed by law.
A first mortgage for the security of the aforesaid indebtedness is retained by OtJTD008 BF.SOR'fS OF
AMEBICA~ INC., on Lot No.~~n that certain Condominium known aa OUTDOOB BESURT3 AT NE'1'TLES
ISLAND. and on any improvements, fixtures or after acquired property added . thereon, as ahown by p1At re-
corded in the Oti'ice of the Cireuit Court in and for St. Lucie o n orida, i Book 1G. paSe 1:1A
through 1J. BOOK PAGf ~a7~