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the mortgagor, in conaideration of the principal sum specified in the prnmissory note hereafter described~ re-
cei~~ed from OUTDOOR RESORTS OF .AMERICA~ INC., a corporation organized and existing under the Lawa
of the State of Tennessee, the Mortgagor, hereby on this~-day of C 19
mortgage.4 to the Mortgagee the real property in St. Lucie County~ Florida,~ de •ibed as:
~ I.~t No~~in that certain condominium known as OUTDOOR
~ RESORTS OF AMERICA AT NETTLES ISLAND, as show,n ~~lat
~ recorded in the Oft'ice of the ~ircuit Court in and for St. ~.ucie County,
Florida. in Plat Book 16, page 1:1A through ld~} ~tks x Ck~
:?ct ur,,X a
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THIS IS A PUItCHASE MONEY MORTGAGE
As security fbr the payme»t of the promissory note of ~?}ith~ following is a co~y : "
~ lnstaliment , a~s~i f~tt~osure Statement
a.~ at f1 ~ d~o ~ A~,F,~ Gu c ~ L ~ Fto~;:~ -
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For Value Received. I. we or either of us promise to pay to the order of OUTDOOR RESORTS OF
a11iERICA. INC.. P. O. Box 111 Jensen Beach. Flor ida. 7. or any other plac~as the holder hereof may
designate in writing~ the su~ o = ~r° ( • ) Dollars~ -
this sum being the Totai of Paym referred to in~the Disclosure 3tateme t below. which includes a FII3ANCE
CHARGE on the amount financed. payable in l b equal consecutive monthly instaliments of
$~~~~each. and the Rrat installment to become payable on thp day of 6r -
.
' 19~. and one such instnllment to become due and payable on~thp day of each succeeding month -
! until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
` t~efore the finai installment date. the unearned portion of the FINANCE CHA~tGE shall be rebated under ~
~ the Rule of .78's.
~ In the event of default in the due and punctual payment of any installment qn 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 UNDERSIGNED, WITHQUT
THE PRIOK WRIT`TEN CONSENT OF THE HOLDER HEREOF, SHALL. SELL, ENCUMBEIZ (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) OB OTHEBWISE DISPOSE OF OR EN-
CUMBEft OR COMMIT ANY RREACH OF THE MORTGAGE OR PEftMIT OIt SUFFEB ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDEftSIGNED AND FINANCED THROUGH
THE CRF.DIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howsoever
evidenced) or bankruptcy of anyone or more of the ut~dersigned, then the entire remaining indebtedness then
due shalt 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 exereise said option shall not oonatitute a waiver of the right
to exercise the same at any,other time. ~
~me is of the essence of this ~.'~te. In the event any installment is not paid when due ur wi~hin t.en
~ ~ays thereafter. the holder may collect, and ~the undersigned agrees to pay a late charge on such insta~tment in
~ an amount equal to b~~ of such ingtailment or $5, whichever is less. and in the event this Note i~ coUected by
~ lave or through an at:orney at lav~ or under advice thereof, the under~igned agrees to pay all cost~rof collection~
including reasonable attorney's fees and court costs to the extent permitted by Florida iaw.
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The undersigrned ansi all endoraers or other parties tq t,his note jointly and severally transfer. convey. and ~
assign to the Holder a suf~icient amount of such homestead or exemption as may be ailowed, ~t?cluding such ~t
homestead or exemption as may be set apart in bankruptcy, to pay this note in fuil~ with all costs of collection, =Q
and do heredy direct any truatee in bankruptcy having posses.~ion of such ho~estead or exemptieii ~to deliver to
the Holder a su,`~''icient amount of pmperty or money set a~art as exempt to pay the indebtedness evidenr,ed
hereby. or any renewal th~reof, and do hereby,_ jointIy and severaliy, appoint the Holder the attorney in fact for
~ each of them. to claim any and all homestead exemptions~ allow ed by law. . `
A first mortgage for the aecurity of the aforesaid indebtedness is retained by OLJTD00B RESORTS 4F
AMERICA, INC., on I.ot No~~_~in that certain Condominium known s~s OUTD008 AESORTS AT NETTLES
ISLAND: and on siiy imprnr•ements~ fixtures or after acquired property added thereon, as shown by plat re-
^orded in the Ofi'ice of the Cireuit Court in and for St. Lucie County, F7orida, in Plat Book 16. page 1:1A
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