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RECEIYED j.~7. IM P•••••rtlT Oi 1AXES
~ ~~ja~3 OUE ON CUSS 'C' Itl1!V:CIBIf : ~ 't P?~?EKIY.
M O R T G A G E~T i0 C1iM"~R 7l•131. ~:~5 ~~y,~.
ROCER ~OITRAS ~.5~~
n1 ~ ~BR IRqIIT c~ RT. ST. LUC o~~ ~ ~ r
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~h~~ iu~~rt~..?.i~ur, i~~ ~~~~~~icierltio» of the ~~ri~i~ip~?1 si~n~ speciheci in the promi~~or~~ i:ote hereafter descril,eci, re-
~-~•i~~c~~l tl•um O[;TI100I: RFSORTS OF A:1iERIC~. I\C., a corpor~tion organizeci .ind existing under the I.aws
„f t hr ~ta1e ~~i '1'r~i~~e•sce. the Mort~;agor, hereb~ on thi.- - _d~i~~ c?f. _ .l'~~?- _ . 19 7~'~-.
r~~~~rt~,ru~.~e~ tu the \IortKa~;ee thc real pi~pert~ in St. Lurie C'ounty. Florida, ciescri~icxi as:
pp~. Sii?MtS I.ot Nu.l~l ~~_l~ in that ccrtai» condominium kuu~cn xs OUTI?OOR
F~1xEV ~ FESORTS OF ADIN:RI('A AT \ET7'I.FS IS1.AI~1), <<. ~ho~~•u 1?~~ plat
~1?e?IIAL. 1~ recurded in the Oflice of the Cireuit Court in and for St. I.ucie County,
Flurida, in Plat Rook 16, pxge l:lA through 1J.
THIS IS A PURCHASE ~10tiE1' \10BT(:~\GE
.erw-it~• for the pa~~meut of the promi~:ory note of ~vhich the follo~~•in~? is a cupy:
Instaliment Note and Disclosure Statement
j Q~1_ 070 _ - _~-_Q`U~C:C~Q. ~O' F'lorida
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F~~r ~'alue Recei~•eci, 1, ~~•e or either of us p~ti?m ise to pay to the order of OUTDOOR RF.SORTS OF
:~~IH:1~1('.~. I~('.. 1'. O. Bor 1116, Jensen Beach, Florida, 33457, or an~• other place as the holder hereof may
,?~•~i~•nat~ in ~~riting. the sum of_~•~~rJ~ • °n'~~ , - ~ ~-~`-L-~ ) Doliars,
±i;:: :um I,ein~,• the Total of Payment~ referrecl to in the I)i;clo,ure Statement below, ~vhich indudes a FINANCE
,}I,-~{Z~;F; ~n the amount financed. pa~~able in-- 12-Q- ----equal consecuti~Te monthly installmen~s of
• ___each, and the first installment to become payable on the~~ -dal of-`~~--
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1'.~ rI'j~ ,.~nd one such installment to i?ecome due and pa~ aLle on the day of each succeed6n~ month
;,~:tii the ~~hole of ~1id indebtedness (Total of Payments) is paid. In the e~ent of prepayment in full b~• ca.sh
' ~,~•f~~rr the tina! in~tallment date, the unearned portion of the FI\ANCE CHAT.GE shall be rebated under
f ? i<<• l~ule ~~f 78',.
~ !n the e~•ent of default in the diie ancl punctual pa~ment of an~• installment on this ~ote for a period of
~:,irt}• (30) cla~-s, or if any statement, representation or H•arranty in an~• application for the credit e~idenced
i.~- thi~ :~ote i~ found to l,e untrue in an~• material respect, or in the event THE UNDERSIGNEU. ~i'ITHOLJT
"?'I1 E YRIOR «'RITTE` CONSE~T OF THE ~IOLDER HEREOF. SHALL SELL, ENCUDiBER (EXCEPT
I~ ~?R A11' 1'IORTCAGE ~i'Ii[CH 1S SECURITY FOR THIS \OTE) OR OTHER~VISE DISPOSF, OF OR EN-
i't':~iRER OR CO~i:?i1T A\Y RREACH OF THE 110RTGAGE OR YF.R~1ilT OR SUFFER ANY LIEti' TO
F:.l"IST OI` THE RF.AL PROPERTI' PURCHASED BY THE U\DERSIG\TED AtiD FINANCED THROUGH
'I'iiE CRF.nIT FVIDEI`TCED RY THIS NOTE or in the e~~ent of the incompetency, insolvency (how.soever
c~~~iclencecl) or Lankruptey of an3•one or more of the under,ignecl, then the entire remaining indebteciness then
~aue shall become immecliately due and pa~~able at the opti~~n of the holder hereof ~~~ithout demand, presentment
~~r notice of anp kind. Any failure of holder to exerci~e ~id option shall not ronstituie a wai~er of the right
exercise the same at any other time.
Time is of the essence of this I~Tote. In the e~•ent an~~ installment i~ not paid ~rhen due or within ten
~ia~•s thereafter, the holder maS• collect, and the undersi~,?ned a~?ree~ t~? pay a late charge ~n such installment in
a?~ amount equal to 5;-~~ of such ins;allment or ~chiche~•er is le.~, and ir~ the e~•ent this Note is eollected by
la~ti- ur throu~;h an attorney at lav? or under ad~•ice thereof, the undersi~,?ned ay,~rees to pa~• all costs of collection,
;r,cludin~ reasonable attorney's fees and court costs t~~ the extent permitteci ln~ Florida la~~. ~
The undersigned and all endorsers or other partie~ t~? this note iointl} snd ~everall~ transfer, convey and
,~~;i~~n to the H~~ider a sufficient amount of such homestead or esen~ption a~ mas' be alloK•ed, includin~ such
- h~~me~tead or exemption as may t~e set apart in hankruptc~~, to pa~ thi~ nvte in full. ~.•ith ali costs of coliection.
.~nd do herei?}• direct any trustee in bankruptcy ha~ ing p~~•se~~ion ~~f such hame,teacl or exemption, to deliver to
the }~~ider a ~uf~icient amount of property or money set apart ati exempt tu pay the inciebtednQss evidenced
i;~•refr}'. ~r an~• renewal thereof, and do herehy, jointly SIS(~ .e~-erall~•. ap~x?int the H~Ider the attorney in fact for
~•ac•h ~f them, to claim ai:,• and all nomestead exemptions allu~~•ecl i?~' la«'.
A first mortgage for the security of the afore~aid indel,teclne~. is rctained t,}• OL~TI~OR RESORTS OF
:\~i~:KI('A, iNC., on Lot ti'o. 9~ S~ in that certain Condominium known aa Ot;TI)OOR RESORTS AT tiETTLES
I~I,A\'i), and on any improvements, fixtures or after acquireci prnperty added thereon, as shown by plat re-
r~~rdeci in the Oflice of the Circuit Court in and for St. Lucie (bunty. ~'lorida, in Plat Boc~k 16, page 1:1A
throu}?h 1J. t~ ~ ~ ~0~~
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