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PWiSUA1R TO I~IAPiER 71-13~{. ACiS OF 19
~~R E+01iRAS htr O R T G A G E
- ~~?~R St ,
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ih~~ IllOl:t~,r.i~01•. m consideration of the principal sum sperifiec~ in the promi,sory note hereafter described~ re~-
~•~~i~•eii from OLTDOOR RF.SORTS OF Ab
i E R I C A. I N G., a corpora tion or~~
tniz e d an d exis ting u n d e r t h e L a w s
f the St.?te ~f Tennessee, the :4iortKagor, hereby on this_ ~ T
day of-_~=_~~ ~ . 19?~~ ~
r»~~rtg,~~e~ to the MortgaRee the real property in St. Lucie County, Flurida, desci•ibed as:
Lot No.~~_in that certain condominium kno~+~n as OUTDOOR ;
RESORTS OF AMERICA AT NETfI.ES ISLAI~D, as shown by plat
recorded in the Office of the Cireuit Court in and for St. Lucie t~ounty. ;
. Florida, in Piat Book 16, page 1:1A through 1J. ,~JrOa _5~~ `~~88-O~o/C~
THIS IS A PURCHASE ~IONE~' MORTGAGE ;
a
~ecurit~• for the p~yment of the promissory note of which the follo~ing is z cupy: 3
~ Ins~allment Note and Disctosure Statement , ~
yy~'1. ~Q_ J' % L, v C~ L~--rtiL-~, Florida i
_ _ 19 ~ 5 ~
Fur ~'afue Recei~•ed, I, ~~e or either of us prom ise to pay to the order of OUTDOOR RESORTS OF
:1.11F;F:I(`A, 1NC., P. O. Box 1116, Jensen Beach, vloo~~~33457~ or an~other place as the holder hereof may
~+,~~:i~.~nnte in ~~~ritin~. the sum of~Y~NFi/r_~"ov~G~~l.~_1j/l~Y~" Dollars,
th;~ sum Lein~,? the Total of Payments referred to in the Di~closure Statement below, which includes a FINANCE
1 f~ I2GE on the amount financed. nayable in ~ equal consecutive monthly installments of '
511~-y~ each, and the first installment to become payable on the~T~day of~/~/¢ ~ ;
l r+ 7,~, 1nd one such installment to Uecome due and payable on the__! -s T~day of each succeeding month
until the whole of said indebtedne.ss (Total of Payments) is paid. In the event of prepayment in full by cash
':~~•f~~re the final in~tallment date. the unearned portion of the FINANCE CHARGE shall be rebated under
t~;t~ Rule of 78's.
In the e~ent of default in the due and punctual payment of any installment on this Note for a period of
ci~irt~ (30) days, or if any statement, representation or ~arranty in any application for the credit evidenced
i~~- this Note is found to be untrue in any material respect. or in the event THE UNDERSIGNED. WITHOUT
~r ~ t E PRIOR ~vRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SEI,L. ENCUMBER (EXCEPT
1'f~R A~'Y MOATGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHER~'VISE DISPOSE OF OR EN-
~~L'tiiBER OR COMMIT ANY RREACH OF THE MOftTGAGE OR PERMIT OR SUFFER ANY LIEN TO ~
N:\IST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGH ~
"1'fIE CREDIT EVIDEh'CED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever ;
;
e~~idenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtedness then ~
ciue 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 e~cercise said option shall not constitute a waiver of the right
t
*.c~ exercise the same at any other time. ~
Time is of the essence of this Note. In the e~~ent anS~ installment is not paid when due or within ten ~
ci.?~•s thereafter, the holder may collect. and the undersi~,?ned agrees to pay a late charge ~n such instaliment in
' ~~n amount equal to 5~~ of such instaliment or $5, whichecer is less, and in the event this Note is collected by
I<?~. or throu~h an attorney at law or under advice thereof, the undersiRned agrees to pay all costs of collection,
includin~ reasonable attorney's fees and court costs to the extent permitted by Florida lativ.
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
~~:,i~n to the I-lolder a sufficient amount of such homestead or• exemption as may be allowed, including such
h~~mestead or exemption as may be set apart in bankruptcy, to pay this note in full, with all costs of collection.
and do hereby direct any trustee in bankruptcy having posse~sion of such homestead or exemption to deliver to
thQ Holder a sufficient amount of property or money set apart as exempt to pay the indebtedn~ss evidenced ~
! hereby, or any renewal thereof. and do hereby, jointly and sererall~~, ap~int the Nolder the attorney in fact for ~
' each of them, to claim ai and al! homestead exemptions altoH•eci b~ la~. ~
A first mortgage for the security of the aforesaid indebtedness is retained I~y OUTDOOR RESORTS OF ~
~ :~ti1ERjCA, INC., on Lot No.L«~~n that certain Condominium known aa OUTDOOR RESORTS AT NE'1TLES ~
i~I,A1D. and on any improvements. fixtures or after acquired property added thereon, as shown by plat re• ~
~~~~rded in the Office of the Circuit Court in and for St. Lucie C'ounty, Florida, in Plat Book 16, page 1:1A T
. ~
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