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che mort~?uKor, in consi eration of the principal sum specified in the promissor~ note hereafter described. re~- ~
~•~•i~•ecl fiY?m OUTDOOR RESORTS OF AMERICA. INC., a co ration organizec and existing under the Laws ;
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~~t' the State of Tennessee, the Mortgagor, hereby on this ~_-_day of--~[L~L'~-- , 19~ ~
m~?rt~,?a~?e. to the l~iortgagee the real propert~ in St. Lucie County. Florida, described as :
Lot No.~~_ ~ that certain condominium knonn as OUTDOOR .
RE50RTS OF AMERICA AT NETTLES ISLAND, as shown Uy plat
recoi-cied in the Oflice of the Circuit Court in and for St. Lucie County~
Florida. in Plat Book 16. page 1:1A through 1J. ~
THIS IS A PURCHASE 1110NEY btORTGAGE '
.ecurity for the payment of the promis.sory note of which the follo~sing is a copy:
I nstallment Note end Disclosure Statement -
~ . 68 St . Luc ie County , ~orida +
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/ 19~
Fc~r Value Recei~•ed, 1, ~•e or either of us prum ise to pay to the order of OUTDOOR RESORTS OF
:~~IERIC'A.- INC.. P. O. Box 1116, Jensen Beach. Flor ida, 33457, or any other place as the holder hereof may
& 68/100 _
ci~~~i~,rnate in ~~riting, the sum of NinP t.ho»s~n~_nine.~undrPd forty-three ( Dollars,
thi. ~um bein~;_the Total of Payments referred to in the Disdosure Statement below. which
ii~~es a FINANCE
~~}I~RGE on the amount financed, payable in___ -9-~ equal consecuti~~e monthly installments of-
~p~. 5¢____ _ each. and the first installment to become payable on the lst_day of~
t! •
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I~ 7_4_, and one such installment to become due and payable on the-_lst day of each succeeding month
~i~~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
i t~E~fore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
I the Rt~le of ?8's.
~ In the event of default in the due and punctual payment of any installment on this Note for a period of
~ tt~irt~ (30) days. or if any statement, representation or warranty in any application for the credit evidenced
this Note is found to be untrue in any material'respect, or in the event THE UNDERSIGNED; WITHOUT
"~FiE PRIOR «'R1TTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
i~'nR ANY 1~iORTGAGE V~'HICH 1S SECURITY FOR THIS NOTE) OR OTHERR'ISE DISPOSE OF OR EN- •
('L'MBER OR COP~iMIT ANY RREACH OF THE MORTGAGE OR PERM[T OR SUFFER ANY LIEN TO ~
N:.l'IST OI~' THE REAL PROPERTY PL~BCHASED BY THE UNDERSIGNED AND FINANCED 1~HROUGH
TiIE CREDIT EVIDENCEU BY THIS NOTE or in the event of the incor?~petency, insolvency (howsoever ~
e~•idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
clue shall become immediately due and payable aL the option of the holder hereof without demand,_ presentment
~~r notice of any kind. Any failure of holder to exercise 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
clays thereafter~ the holder may collect, and the undersi~necl agrees to pay a late charge on such installment in
<?n amount equal to 5~4 of such installment or $5, whichever is less, and in the event this Note is collected by
j~ la«~ or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
= includin~ reasonable attorney's fees and court costs to the extent permitted by Florida law. ` .
~ The undersigned and all endorser3 or other parties to this note jointly and se~ erally transfex; convey And
~ assifin to the Holder a sufticient amount of such homestead or exemption as may be ~allowed, ix~cluding such #
~ homestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all cost,~ of collection, ~
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemptioa to deliver to ~
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the Holder a suflicient amount of property or money set apart as exempt to pay the indebtedness evidenced ~
hereby, or anS renewal thereof, ~and do hereby. jointly and se~erally, appoint the Holder the atto~ey in fact for
each of them, to claim ar~~ and all homestead exemptions allo~sed by laK . _
A first mortgage for the security of the aforesaid indebtedne,s is retained US• OUTDOOI~RESORTS OF
~~:11ERICA, tNC., on Lot No.`•? '~in that certain Condominium known aa OUTDOOR RESORTS AT NETTLES
'u~ ISI,AND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
c•~~rded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
through 1J. `
- 30~K PACE ~1 ?
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