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MORTGAGE 3~.3~ .
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the mort~,?aKoi•~ in consideration of the principal sum specified in the promissory note hereafter described. r~
~~c~ireci from OUTDOOR RESORTS OF AMERICA, INC.. a corporation orgunized and existing under the Laws
~~f the Siate af Tennessee~ the biortgagor, hereby on this~ day of_ ~1.Qa e~s- ~ 19~,
mc,rtga~es to the hiortgagee the real property in St. Luc,i~e County. Florida. described as •
y Lot No.~4 ~ in that certain o~
o~ini~/know~ a~ OUTDO~R oF t~~
~ME~tt ap,ER~y.
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat ~h P~ Q
recorded in the Ofl'ice of the Cireuit Court in and for St. Lucie County, ~y~'~j~
Florida, in Plat Book 16~ page 1:1A through 1J. ,`~i~eW~~'~ ~ts ~ ~v,
~ THIS IS A PURCHASE ~IONEY 11fORTGAGD~E~~tl1~ p~'~ ~s~~~~ ;
,ecurit~~ for the payment of the promissory note of which the following is a co~i~'"- #
Instellment Note and Disciosure Statemenl~`~
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~ ~ Florida
" - /1i! i~a ~ !f- .2 G 19 7~ ~ ~
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For Value Recei~~ed, I, He or either of us promise to pay to the order of -OUTDOOR RESORTS OF
:~11ERICA, 1NC., P. O. Box 1116. Jensen Beach, Flor ida. 33457. or any other piace ~asjth~,holder hereof may ~
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~ir~.i~nate in ~fi iting. the sum Uwl- ~tt?a~`c..~ ~ ( Dollars. ~
thi~ sum bein the Total of Pa men s referred to in the Disclosure State ent below, which includes a FINANCE
C'tiARGE on the amount financed, payable in _1 `-2--- equal consecutive m~onthly insEallments of
C~~.~Leach, and the first instaUment to become payable on the!,~-day of_ /vJ~TY. ~
i
l~__~ and one such installment to become due and payable on the_ / ST
day of each succeeding month
~~?~til the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
t~efore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of ?8's. ~
In the event of default in the due and punctual payment of any installment on this Note for a period of ~
thirty (30) days~ or if any statement, representation or warranty in any application for the credit evidenced ~
1>;~ this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED, WITHOUT
THE PRIOR VVRITTEN CONSENT OF THE HOLDEft HEREOF. SHALL SELL. ENCUMBER (EXCEPT ;
~ FOR ANY DiORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN- ;
; C'UMBER -OR COMMIT ANY BREACH OF THE MOftTGAGE OR PERMIT OR SUFFER ANY LIEN TO
~ EXIST ON THE REAL PROPERTY PURCHASED BY THE U
DN ERSIGNED AND FINANCED TH~tOUGH
; TNE CREDIT EVIDENCED BY THIS NOTE or in the event of 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 exercise said option shall not constitute a waiver of the right
; to exercise the same at any other ~ime.
~
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 instaliment in
an amount equal to b%. of such installment or $5, whichever is less. and in the event this Note is collected by
law or through an attorney at law or under advice thereof~ the undersigned agrees to pay all costs of collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida law. .
' The underaigned and all endorsers or other parties to this no~te jointly and se~erally trans#er, convey and
' assign to the Holder a sufficient 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 fuil, with all costs of collection,
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to
: the Holder a suflicient amount of property or money set apart as exempt to pay the indebtec~ness evidenced
' hereby~ or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
each of them, to claim ar~~ and all homestead exemptions allowed by law. .
` A first mortgage for the se~urity of the aforesaid indebtedness is retained Uy OUTDOOR RESORTS .OF ~
i
AyIERICA, INC., on Lot No.~_in that certain Condominium known sa OUTDOOR ftESORTS AT NF.'Z"fLES ~
ISLAND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
' corded in the Ofi'ice of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A ~
~ through 1J. Q s i
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