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, 2~,y~41 M O R T G A G 6~~ r~ ias*~~,~:.' ' :
Ch¢,~ ~w~~~r~~ rl..,~.~(~~ ~ 7-~.-~~~_, ~
r},,. m~u•t~,•a~~?r, in con~ideration of`the prin ,c
~il sum spec~fied ~ the promissory note hereafter descril~;1, re-
~~~•i~•E~~1 fr~~m OL`TDOOR RF.SORTS OF A111ERICA, II\'C., a cor~wration organizeci anci e~isting under the I.aws
~~f the St.?te c?f 'I'emie,sce. the ~iortgagor, hereb~• on this___ ~;5~ d1~• of_--- 2~- 192~--.
n~~~rt~,•.~~,•c~~ to the ~Iortgagee the real propert~ in St. Lucie County, Florida, cl~scribeci as:
FL. ~K!~. ST1~MP! I.ot \'0._7~S/~ ~n th~t cert.~in conclominium kno~~•n as OUTI)OOR
~ixm RESORTS OF AMERICA AT 1'ETTLF.S ISI.Al`'n, us sho~~ n Uy pl~tt
~ recorcied in the OfTice of the Circuit Court in and for St. I.ucie County, _
Florida, in Plxt Book 16, page 1:1A thruugh 1J. _ 3
1
THIS IS A PURCHASE ~IOiVEY ~tORTG AGE
•eeurit~- for the pa~~ment of the promissory note of ~~hich the follo~~~ing is a copy:
Installment Note and Disclosure Statement
~E~ - ~ !N P1qrMENf OF TA1cH .~-._-_cdu~C~-~- ~ , Florida ?
~(Q
f~9_2~_-- ouE oN aus ~ ~rtraicie~ r~cwEen. `
PURSIIANT TO CFUIP'iER 71•13t, ACiS ff 19)1. ~cj~ - 19~ ;
N06ER POITRAS ~ `
F+~r ~'alue Recei~~eci, i, at~B~~Uhe~u~~ sts qx~v~e~ pay to the order of OUTDOOR RESORTS OF
~iF:l:l('A, I:~C.. P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other p~ e as the holder hereof may ~
;+.~~~i~,m:ite in ~~•ritin~,r, the sum of•~-+r ~~/'~~~?~-~~~,..X.~1u-~17~f1LC. (~,..~~~0 ) Dollars,
~ i~i: ~um i~ein~,• the Total of Payments referred to in the nisclosure Sta ement below, ~vhich includes a FINA:v'CE ;
;
1 I~ RGF. on the amount financed. paS~able in-_ equal consecutZ~ e monthly installments of -
, ~ ~
' /~~_.~o~__ _--each, and the first installment to become payaUle on th~ -day of . ~
I t ~ and one such instailment to become due and paS aUle on the__ day of each succeeding month '
~
j ii~~til the ~rhoie of said indei~tedness (Total of Payments) is paid. In the erent of prepayment in full by cash
E ~~~i~~re the final installment date. the unearned portion of the FINA:`'CE CHARGE shall be rebated under
~ , t~e Rule of 78'~. $
In the e~•ent of default in the due and punctual payment of any installment on this Note for a period of -
r},irt~• (30) da~•s, or if any statement, representation or warrant~~ in any application for the credit evidenced
thi, i`'ote is found to be untrue in any material respect, or in the event THE UNDERSIGNED~ WITHOUT
"I'!IE PRIOR «'RITTEN CONSE\T OF THE HOLDER HEREOF, SNALL SELL, ENCUMBER (EXCEPT
F~~R A:~'Y MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERR~ISE DISPOSE OF OR EN-
~~L'D1BER OR ('OM~iIT A1~Y RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
F.:{IST ON THE REAL PROPERTY PURCHASED BY TNE UNDERSIGNED AND FINANCED THftOUGH -
'I'fIE CREDIT EVIDENCED BY THIS NOTF. or in the erent of the incompetency, insolvency (howscever
f~~~icienced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
clue shall become immediately due and payable at the optiQn of the holder hereof ~ti•ithout demand, presentment ~
~~1~ notice of any kind. Any failure of holder to e~ercise said option sha? not constitute a wai~•er of the right
~ t~~ exercise the same at any other time.
~ Time is of the essence of this Note. In the e~~ent ~n~• installment is not paid when due or within ten j
~ .i<~~•s thereafter, the holder may collect. and the undersi~;ned agrees to pay a late charge ~n such installment in ~
~ an amount equal to 5'~ of such installment or $5, whiche~-er is less, and in the event this Note is collected by ~
la.~~ or through an attorney at law or under advice therec~f, the undersi~ned agrees to pay all costs of collection,
~P i~lc~ludin~ reasonable attorney's fees and court costs ta the estent permitted by Florida la~•. ~
z:
'u~ The undersigned and all endorsers or other parties to this note jointly and ~e~•erally transfer, convey and ;
~ ;
a~~i~,rn to the Holder a sufficient amount of such humestead or exemption as may be allowed, including such
~ h~~mestead or esemption as may be set apart in bankruptc~•, to pa~~ thi. n~?te in full, ~sith all costs of collection,
~ and do hereby direct any trustee in bankruptcy ha~~ing pusses~ion of such home,tead or exemption to deliver to
~ the ~Iolder a ~uflicient amount of property or money set apart as exempt t~ pay the indebtedness e~~idenced
hereh~•, or any renewal thereof, and do hereby, jointly and se~•erail~~, appoint the Holder the attorney in fact for
~ ~~.~ch of them, to claim aT:~~ and all homestead exemptions all~n.-eci b~• la~~~.
~
~A A first mortgafie for the security of the aforesaicl indeLtednc~~ is retained i,y OUTDOOR RESORTS OF
~ :~11F.RICA, INC., on Lot No.~~l`T-in that certain Condominium known sa OUTDOOR RESORTS AT NETTLES
~ I~I.A\I), and on any improvements, fixtures or after acquired prop~rty added thereon, as shown by plat re-
~ c~~rded in the Office of the Circuit Court in and for St. Lucie ('ounty, Florida, in Plat Book 16, page 1:1A
~ thruu~,~h 1J.
9 RK ~~0 ~'h~E 2649
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