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M O R T G A G E
~ e~:~ ~ P!~ ~/~I i4 /N~$.~_.~ /_g E T T y Q/~S 1 Eiis W: F~ 1_._,
the mortgagor. in consideration of the principal sum spec:fied in the promissary note heteafter described. r~
~•ei~•ed from OL'TDOOR RESORTS OF A~IIERICA. INC.. a corporation organized and existing under the Laws
uf the State of Tennessee. the i~iortgagor, hereby on this 1~_ day of~~~~ ~ L- , 191~.
mortgages to the l~iortgxgee tha real property in St. Lucie County. Florida. described as:
Lot I~•o in that certain condominium known as OilTD00R
~ RESORTS OF ADiERICA AT \ ETTLES ISLAND. as shown by plat
recorded. iri the OR'ice ~f ~he Circuit Court in and for St. L ie County.
l~ Florida, in Plat Book 16, page l:lA through 1J. ~ / y'7
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• ' THI3 I3 A PURCHASE lIQ1VEY MOftTGAGa:^;~~ ~ p~~~
As security for the payment of the promissory note of which the following is a co,p~? ~M~ ~ ~
'~ltl~ ~r~ilOBt~~'~i ~ ~i~
Instaliment Note and Disclosure Statemen~
~ 9, 984~, 00- . S t. Luc ie County
~l v~,2: ~ 1 A 19.2.~
F~r Vr.~~s~ Ree~ived, I. we or either of us promise to pay to the order of OU'fDOOR BESORTS OF
A1iERICA, INC.. P. O. Box 111 Jense Beach. or'da. 3457 or t er 1 e aa the holder hereof may
~(ine t~ousanc~nine ~vadre~` ~g~it~'-~our
de~ignate in writing, the sum of & 0 100 ( 9~ 984 _ 00) ~p~,
this sum being the Total of Payments referred to in the Disclosure 3tatement below, which includes a FINANCE
CHARGE on the amount financed. payable in '--~~---~96~~~~-equal consecutive moathlq instslLnents of
, 104.00-------~ch, and the first installment to become payable on th~ -1f ~ d
ay of T~
1~_~. and one such instaUment to become due and payable on thp C T ~ay of each succeeding month ~
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the fina! installment date, the unearned portion of the FINANCE CHARGE ahall be rebated under
~ the Rule of 78's.
Tn the event of default in the due and punctual paqment of any installment on this Note for a period of
thirty (30) days. or if any statement, representation or warrsntv in any application for the credit evidenced
by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR WRITTEN CONSENT OF TRE HOLDER HEBEOF. SHALL SELL, ENCUMBIIt (ERCEPT
FOR ANY MOATGAGE WHICH 1S SECURITY FOIt THIS NOTE) OR OTHERWISE DISPOSE OF 08 EN-
CUMBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PEP.MIT Oft SUFFEB ANY LIEN TO
EXIS: ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event af 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 exereise said option shall not eonstitute s 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
days thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in
an amount equal to 6~ of such installment or ;5, whichev~r is less, and in the event this Note is collected by
law or through an attorney at law or under advice thereof, the vndersigned agrees to pay all costa of collection,
including reasonable attorney's fees and oourt costs to the extent permitted by Florida law.
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The undersigned and all endorsers or other parties to this note jointly and severallq transf~er. convey and
- a~sign to the Holder a suf~'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 of collection,
and da hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
the Holder a sufticient amount of prnperty or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof. and do herebq, jointlp and severally. appoint the Holder the attorney in fact for
each of them. to claim az:n and all homestead exemptions allo~ved by law.
A first morEgage for the urity of the aforesaid indebtedness is retained by OUTDOOR BESOBTS OF"
AME~tICA, INC., on Lot No.~n that certain Condominium known aa OUTDOOB RESORTS A~I~ NL'!TLES
ISLAND. and on any impr+~vements, fixtures or after acquired property added thereon, as shown by plat re-
corded in the Of~ice of the Circuit Court in and for St. Lucie County~ Florida, in Plst Book 16, page 1:1A
through 1J. ~ 60~( ~AGf ~r+l~liJ~l •7 _ /8 - j.~,~~~
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