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J ~ AYMSI~i . .
~ ` MO RTGAG EE , ~ ~S
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the mort~?agor, ~n consideration of the principal sum specified ~n the promissory note hereafter described, re-
~•~~i~•eci from ULJTDOOR RESORTS OF AMERICA. I~TC.. a• corporation orguniz and e!cisting under ~ the Laws
~~f the State of Tennessee. the Mortgagor. hereby on this_~ day of . 191
n~c~~•tb:ige~ to the riortgagee the real property in St. Lucie County~ Florida, describ~d as:
Lot TTo -1 in that certain condominium known as OUTDOOR
RESORIS OF AMERICA AT NETTLES ISLAND. as shown by plat
~ op~, S~N~` recorded in the Ofl9ce of the Cir~uit Court in and for St. Lucie County,
Florida, in Plat Book 16, page 1:1A thmugh 1J. ~YED _
~N PAYMEM
THIS IS A PURCHASE MONEY MORTGAG ~~NS~etE ~~_~.~,ti ~ T~
A. ~ecurit for the payment of the promissory note of which the following is a cop~y'. r~ •~s oF 1y~i,~~ `
Y R~S
Installment Note and Disclosure St temen~` 00t'~•
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For Value Recei~ed. 1. He or either of us promise to pay to the order of OUTDOOR RESORTS OF
Al1ERICA. INC.. P. O. Box 1116. densen Reach. Flor ida. 3345?. or ~ny o er lace as the holder hereof may
. ' ~ ( ~ ~ • ~'4~ Dollars,
de.i~nate in riting. the sum of - .
thi, sum bein~; the Total of Payments referred to in the Di ~ sure Statement below. which includes a FINANCE
('tIARGE on the amount financed. payable in ~o equal consecutive onthly installments of
c ~s • each and the first installment to become payable on th~-
daY of +
_ ~ .
19 and one such installment to become due and payable on the-_~~~ day of each sucee~ding month
tjntil the ~hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
' heforQ the final instaUment date. the unearned portion of the FII~'ANCE CHABGE shall be rebated under
~ the Rule of 78's.
I
In the event of default in the due and punctual payment of any installment on this Note for a period of
thirtv (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
TNF. PRIOB V~'RITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBEft (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOA THIS NOTE) Oft OTHER~i?ISE DISPOSE OF OR EN-
CUMBER OR COMMIT ANY RREACH OF THE MORTGAGE Oft PERMI~ OR SUFFER ANY LIEN TO
E:~IST 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
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
due shall become immediately due and payable at the option of the holder hereof without demand, presentment
or notice of any kind. Any failure of holder to esereise 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
day s 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 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,
including reasonable attorney's fees and court cosc.~ 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 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 costs of collection,
and do hereUy 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 indebtedness evidenced
hereby, or any renewal thereof, and do }~ereby, jointly and se~•erally. appoint the Holder the attoraey in fact fo"r
each of them, to claim a~:~ and all-homestead
exemptions allo~~ed bv law. t
A first mortgage for the s;nrity of the aforesaid indebtedness is retained by OUTDOOR RESORTS OF
AMERICA. INC., on Lot No.,~~in that certain Condominium known a+s OiJTDOOR RESORTS AT'NE'TTLES
ISLA~'D, and on any improvements, fixtures or after acquired property a~lded thereon, as shown by plat re-
corded in the Oflice of the Circuit Court in and for St. Lucie County. Florida, in P1At Book 16, page l:lA
through iJ.
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