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~ ~ ~ ' MORTGAGE ' ~32g~
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the mortgagor, in conaideration of the principal sum specified in the promissory note hereafter described. re-
ceived from OiJTDOOR RESORI'~ 4F AMERICA~ INC., a corpor~tion organized and existing under the Laws
of tpe State_ of Tennessee~ the Mortgagor, hereby on this~~day of ~ S~ , 18~r,
mortgages to~ the Mortgagee the real property in St. I,ucie County, Florida, described as:
' Lot No ~~'n that certain cotidominium known as OTJTDOQ~t
~ RESORT3 OF ~.MERICA A~ NETTLES ISLAND. as shown by plat
~ recorded in the OflSce of the ~Circuit Court in and for 3t. Lucie County.
~ `a Florida, in Plat Book 16, page 1:1A through 1J. A~~~sE~s •
, ~.'~'iD~a-S"D/ - OS3~' ~oo~
THIS I3 A PURCHASE MONEY ~~AG~
As security for the payment of the promissory note of which ~he following is a copq :
Installment Note and Disclosure Stotement
~ _ ~r • w Mr~r aF ~s
$ 13 , ~ o~ ~ ~ ~r, .S~ uu~ C~ , ~o~aa - -
; ~ Pu~r t+o a~?~e n-i~. ~crs oF ian. D/
~t PO+tRI~S - 19~~
For Value Received, I, we o~~!!~f ~ipt~rr~'~ to the order of OU'TDUOIt RESORT3 OF
AMERICA, INC.. P. O. -Box 1116~ Jensen B ch. Flor ida, 57. or any other place as the holder hereof may
de~ignate in writing~ the sum of ~ ( a Dollars, ~
t~is sum being the Total of Payments referred to in the Disclosure Statement low. which includee a FINANCE .
CHARGE on the amount financed. payable in ~ D equal consecutive monthly instalimenta of
each, and the first installment to become payable on thp day of
.
~ 19~. and one such installment to become due and payable on the dsy of each succeeding month
; until the whole of said indebtedness (Total of Payments) is paid. In.the event ~of prepayment in full by cash
F before the fina} instaliment date. the unearned p~rtiorr of the FINANCE CHARGE shall be rebated under
f 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
by this Note is found to be untrue in any material respect~ or in the event THE UNDER3JGNED, WITHOUT
THE PRIOA WBITTEN CONSENT OF THE HOLDE~t IiEREOF, SHALL 3ELL, ENCUMBElt (EXCEPT
FOR ANY MOftTGAGE .WHICH 1S SECURITY F08 THIS NOTE) OK OTHERWISE DISPOSE OF OH EN-
CUMBER OR C011fMIT ANY BREACH OF THE MOBTGAGE OR PERMIT OR SUFFE~t ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASEL~ BY THE UNDERSIGNED AND FINANCED THROUGA
THE CREDIT EVIDENCED BY THIS NOTF. or in the event of the incompetency, insolvency (howeoever
evidenced) or bankruptcy of anyone or more of the undersigned. then the entire remaining indebtedness then
due shall becAme 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 righ~
to exercise the same at any other time. _
TSme ia of the e.gsence 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 installment in
~ an amount equal to 5~ of such installm~nt or $5, whichever is less, and in the event this Note is coliected by
~ law or through an attorney at law or under advice thereof, the undersigned agreES to pay all coata of collection,
~ including reasonable attorney's fees and court costs to the extent permitted Uy Florida law. .
$ - The undersigned a~id all endorsers or other parties to this note jointly and severally transfer, canvey and ~
~ assign to the Holder a suflicient amaant of such homestead or exemption as may be allowed, including such ~Q
homestead or exemption as may t~e set apart in bankruptcy. to pay this note in fnll, with all co~ta o~ collection, .o
and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to ~
the Holder a sufficient amount of property or money set ~pai-t as exempt to p~y the ind~btedness evidenced
hereby, or any renewal thereof, ana do hereby, joint'y and severally. appoint the Holder the attorney in fact for
each of them. to claim at:y $nd all homestead exemptions allowed by law.
A firat mortgage for the security of the aforesaid indebtedness is retained by OUTDOOR RESOItTS OF
AMERICA, INC., on Lot Nq~.~~=-'T~in that certain Condominium known e~e OUTD(?OR ~tESOBT3 AT NETTLES
ISLAND, and on anp improvetnents, fixtures or after acquired property added thereon, as shown by plat re-
~ cot°ded in the Oflice of ; the Circuit Court in and for St. Lucie Coun~y, Florida. i:t Plst Book 16, page 1:1A
~hro;:~h 1J. ' • . . . .
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