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, MORTGAGE
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t hr m~?rt~, gor, in consideration of the p
inci~
~ul m specified in the ~ promis,or~• note hereafter described, re-
~~~•i~~t~cl fiY~m OL'TnOOR RF.SORTS OF AMERICA, INC., a corporation urga ized and existing under the Laws ~
„i the State of Tennessee, the Mortgagor, hereby on thi~
~__-day of ' L _ 19
„~~~~•t~;.~~,~e. to the Mortgagee the real property in St. Lucie County. Florida, de~ ibed as:
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Lot No.___l~. ____in that certain condominium known as OUTDOOft
RESORTS OF AMERICA AT NETTI.ES ISLAI~D, as shown by plat • ~
recordeci in the Office of the Circuit Court in and foi• St. Lucie County.
; Florida, in Plat Book 16, page 1:1A through 1J.
` THIS IS A PURCHASE MONEY ~iORTGAGE
.ecurit~• for the pa~~ment of the promissory note of ~vhich the follo~sing is a copy:
Instaliment Note and Disclosu're Statement ~
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I _~~1.~'ig _ ~-tQ~ f~ , Florida
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F~?r ~'alue Recei~•ed, I. ~~•e or either af us prom ise to pay to the order of OUTDOOR RESORTS OF
:~~fF:R1('A. INC.. P. O. Box 1116. Jensen Beach, Flor ida, 33457, or any other place as the holder hereof may .
~':~~,i~,•nate in writing. the sum o~,~e~t.4--!-- `l U (9~d 8~ ) Dollars. `
~hi~ sum bein},~ the Total of Payments referred to in the Di losu e Statement below, which includes a FINANCE i
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~}I:1RGE on the amount financed. payable in_._ equal consecutive monthly installments of ~ .
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; ?~J~. each, and the first installment to become payable on th~~-_day of_ ,
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; l~~ ~r , and one such installment to become. due and payable on the-__~~ay of each succeeding month f
; ~~r:til the Khole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
; ?.t~f~~re the fina} installment date, the unearned portion of. the FINANCE CHARGE shall be rebated under
€ ~h~~ Rule of ?8's. -
~ In the e~ent of default in the due and punctual pa~ment of any installment on this I`'ote for a period of
; tt:i?•t~• (30) days, or if any statement. representation or warranty in any application for the credit evidenced E
F i~~- this ~'ote is found to be untrue in any material respect, or in the event THE UNDERSiGNED, WITHOIJT -
i TtiE PRIOR ~~'RITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL~ ENCUMBER (EXCEPT ;
j I~ ~~Fi ANY MORTGAGE V~'HICH 1S SECURITY FOft THIS 1~'OTE) OR OTHERWISE DISPOSE OF OR EN-
` ~~L'tiiBER OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
~ r:lIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGii
"I'iIE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howsoever
~ ~~t~iclenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then
~ ~i;~e shall become immediately due and payable at 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 ~
~ t~~ exercise the same at any other time. £
~ Time is of the essence of this Note. In the e~ent any installment is not paid when due or within ten ,
i da~•s thereafter, the holder may collect, and the undersi~ned agrees to pxy a late charge ~n such instaliment in
< <~n amount equal to 5~% of such installment or $5, whiche~•er is less, and in the event this Note is coliected by
1~~~.- or through an attorney at law or under advice thereof, the undersigned agrees to pay all costs of collection,
- ir~cluding reasonable attorney's fees and court 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 severalty transfer, convey and
~~:~i~?n to the Holder a sufticient amount of such homestead or exemption as may be allowed, includin~ such
- h~~mestead or exemption as may be set apart in bankruptc~~, to pay this note in full, with all costs of collection,
~~nd do herel~y direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
the Hoider a suflicient amount of property or money set apart as exempt to pa} the indebtedness evidenced
~ hc~reLy, or any renewal thereof, and do hereby, jointly and se~~erall~~, appoint the Holder the attorney in fact for
~ each of them, to daim a~ and all homestead exemptions allo~.•ed by law.
~ A first mortgage for the sec~u ity of the aforesaid indel~tednesti is retained 63• OUTDOOR RESORTS OF
~ :1 ~IERICA, INC., on Lot No.~~"'7n that certain Condominium known sa OUTDOOR RESORTS AT NETTLES
~ I~i,A111), and on any impmvements, fixtures or after acquired property added thereon~ as shown by plat re-
° r~~rded in the Office of the Circuit Court in and for St. Lucie County, Florida, in Plet Book 16, page 1:1A
" t t-~ rou~?h 1J. O Q
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