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C11APiER T1.~~
g QF 19` ~Y 9~ '
AAORTGAGE ~ ' `
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thr murt~ugor. ifi cansideration of the principal sum specified in the promissory note hereafter described, re- ;
~~~~iced f~y?m OliTD00R RESORTS OF AMERICA, INC., a corpgration organized and existing under the Laws *
~~f the State of Tennessee~ the Mortgagor, hereby on this_~'"` day of ~L~___ , 19~. ~
n~~~~•t~x~,?e. to the ~furtgagee the real property in St. Lucie County, Florida, described aS
~
Lot No.1~!~ ~_in that certain condominium known as OUTDOOR ~
~ RESORTS OF AMFRIGA AT ,NETTLES ISLAND, as shown by plat ~
~ i•ecorcled iri the Office of the Circuit Court in and for St. Lucie County.
Florida, in Plat Baok 16. page 1:1A through 1J.
THIS IS A PURCHASE biOtiEY 1110RTGAGE ~a ~ SU/-O/~'7-ODv,~
.ecuritt• for the payment of the promissory note of which the fol{owing is a copy:
~
tnstalime~t Note and Disclosure Statement ~
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~t~c~ ~ ~A . Florida `
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_~c~rcr.~ c~_~_~' 19~ _
F~?r Value Recei~•ed, I, «•e or either of us prumise to pay to the order of OUTDOOR RESORTS OF
:1 ~f E~:RI('~, INC.. P. O. Box 1116. Jensen Beach, Flor ida, 33457. or any other place~~4~ holder hereof may
~l~~~i~,rnate in ~~ritin~, the sum of J~~GL~~ I.~~ ( Dollars,
c!~ i: .~~m bein~,? the Total of Payments referred to in the Disclos~re Statement beiow, which includes a FINANCE ~
~
~~1~:~RGE on.~i.he amount financed. payable in equal consecutive monthly installments of f
9
each, and the first installment to become payaUle on the day of ~ , ~
I~~ 7S and one such installment to become due and pa3 able on the__L ~ day of each succeeding month ~
~.~nr.;l the v~hole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash ?
!~~•iure the hna} installment date, the unearned portion of the FIh'ANCE CHARGE shall be rebated under ~
thr Rule of 7$'~. ~
In the e~ent of default in the due and punctual payment of any instalfinent on this Note for a period of
t h irty (30) days. or if any statement, representation or warranty in any application for the credit evidenced
t~~- this Note is found to be untrue in any material respect, or in the event THE UTIDERSIGNED~ WITHOUT ~
i fIE PRIOR WRITTEN CONSEI`'T OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT ~
F(~IZ A:~'Y MORTGAGE ~VHICH 1S SECURITY FOft THIS NOTE) OR OTHEft«'ISE DISPOSE OF Oft EN- ~
r~L ~iBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO ~
F:.l"IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED A;~TD FINANCED THROUGH ~
TfiE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever ;
i, t~~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then :
~ c3i~e shall become immediately dur 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 event any installment is not paid when due or within ten
, ~iay~s thereafter, the holder may collect, and the undersi~,*ned aRrees to pay a late charge on such in~*allment in
„r: amount equal to 5~~ of such installment or s5, whicherer is less, and in the e~ent this Note is co:.ected by
I<<ti~~ or through an attorney at law or under advice thereof, the undersi~neci agrees to pay all costs of collection,
i~~rluciin~ reasonable attorney's fees and court costs to the extent permitted by Florida law. ~
The undersigned and all endorsers or other parties to this note jointly and severally transfer. convey and
, a~:ign to the Holder a sufficient amount of such homestead or exemption as may be allowed, including such
h~~mestead or exemption as may be set apart in hankruptcy. to pay thi~ nate in fuil, with all costs-of collection,
, and do hereby direct any trustee in bankruptcy having posses~ion of such homestead or exemption to deliver to
, the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof, and do hereby, jointly and se~~erallv, appoint the Holder the attor~ey in fact for i
' ~.~ch of them, to claim a~ and ali homestead exemptions allo~ved li~ lav?.
' A first mortgage for the security of the aforesaid indebtedness is retained bg OUTDOOR RESORTS OF
~1~;RICA, INC., on Lot No~in that certain Condominium known aa OUTDOOR RESORTS AT NETTLES 3
;~I.A:~i). and on any improvements, 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 Plat Book 16, page 1:1A ~
throu~;h 1J. 80GK~t7 PACf1134 • ~
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