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t}le mortgagc?r, in consideration of the principal sum specified- in the promissory note herenfter described, re-
r~•i~•ed fibm OUTDOOR RESORTS OF AMERICA, INC., a corporatiom organized anci esisting under the Laws
~~C the St~ite of Tennessee~ the Mortgagor~ hereby on this ~s day of ~~QG•~/ ~ 19'L,.~
m~~rtgafie~ to the Mortgagee the real properiy in St. Lucie Co nty, Florida, described. as:
~5oa so/ o i~G -ooo~~ ~~~t,~~~
Lot No.~l~~in that certain condominium known as OIJTDOOR Q,q,y~~y`~'~ai ;rl~
RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat S~~ ci~ 4„~
recorded in the Office of the Circait Gourt in and for St. Lucie County, ,S ~,~5
Ftorida, in Plat Book 16. page 1:1A through 1J. s~~
- THIS IS A PURCI~IASE MONEY DiORTGAGE ~-`~E_~~,~ ~
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~ecurit~• for the payment of the promissory note of which the following is a cop~~,
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Instaflment Note and DisclosureStoteme~'~~~,G`~
~ „~llC / ~'i~ ~ • , Florida i
~.e y ~ S~~ 19~
For t'alue Received. I. ~•e or either of us promise to pay to the order of OUTDOOR RESORTS OF
:~~IERICA. INC.. P. O. Box 1116, Jensen Beach, Flor ida. 33457, or any other place as the holder hereof aiay
~tt~~ignate in ~vriting, the sum of ~~1-%C3'=~---) Dollars,
thi. sum bein~ the Total of Paym ts referred ta in the Disclosure Statement ow, hich includes a FINANCE
i'FIARGE on the amount financed. payable in equal consecutive monthly installments of
~_~?lp.
vZ~each, and the first installment to become payable on th day of~l~~~ .
I ~ 7~ and one such installment to become Jue and payable on the~L~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
1 ~E~fore the final installment date. the unearned portion of the FINANCE CHARGE shall be rebated under
t h e Rule of ?8's. ~
In the event of default in the due and punctual payment of any installment on this A1ote for a period of
t h irt_r• (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 UNDERSIGNED~ WITHOUT
! THE PRIOR ~i'RITTEN CONSENT OF THE HOLDEK HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FnR ANY.MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
c'LTMBER OR COMMIT ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE L'NDERSIGNED AND FINANCED THROUGH
T~IE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency (howsoever
j e~~idenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness then
cl«e shall becorne immediately due and payable at the option of the holder hereof without demand, presentment
i 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 time.
i Time is of the essence of this Note. In the e~ent any in~tallment is not paid when due or within ten
~ da~s thereafter, the holder may coltect, and the undersigned agrees to pap a late charge ~n suchahstallment in
<~?i amount equal to 5~j of such insta!]ment or $5, whichever is less. and in the event this Note is,collected by
la«• or through an attorney at law or under advice thereof~ the undersigned agrees to pay all costa of collection,
, includinR 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 ~
! assi~?n to the Holder a sufticient amowrt of such homestead or exemption as may be allowed, including such ~
' h~mestead or ~xemption a.g may be set apart in bankruptcy, to pay this nute in full, with all costs~of collection,
' and do hereby direct any trustee in bankruptcy having possession of such homestead or exemptio~: to deliver to
' the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedhess evidenced
heret~y, or any renewal thereof, and do hereby, jointly and sererall~•, appoint the~Holder the attorney in fact for
' each of them, to claim a~:;~ and all homestead exemptions allowed b3~ law.
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A first mortgage for the security of the aforesaid indel~tedness is retaineci by OUTDOOR ftESORTS OF
a~iER1C'A, INC., on Lot Nol~-Tn that certain Condominium known sa~OUTDOOR RESORTS AT NETTLES
ISLAND, and on any improvements. fixtures or after acquired property added thereon. as shown Uy plat re-
, cordeci in the Ofi'ice of the Circuit Court in and for St. Lucie County, Florida, in Plat Book 16. page 1:1A
' through 1J. p g ~ ~
' BOOK PACf
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