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thc mortgag in consideratio of the principal sum speci ed in the i,4sory note hereafter described. re-
cei~•ed from O UOOR RESORTS OF AMERICA, INC.,. a corporatio a ganiz and existing under the Laws
of the State Tennessee, the Mortgagor, hereby on this~~-day of ~ 19~.
mortbages to the Mortgagee the real pro rty in St. Lucie County, Florida, descri s:
Lot No. b ~n that certain ~c~ndominium known as O D40R.
t° . RESORTS OF AMERICA AT NETTI.ES ISLAND, as shown by plat
o• recorded in the Ofl~ce of the Cireait Court in and f~~~~,.~,ucie County, _
~ Florida, in Plat Book 16, page 1:1A thrnugh 1J. y~ o~~Y 'f~~"DoZ- ~D/ D~SD -A0.'~~
THIS IS A P~JKCHASE MONEY 11iORTGAGE
As security for t~e puyment of the promissory note o~~i e following is a copy:
Installmen losure St e nt ,
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~ ~p:c. ~l~~.c~ Floriaa
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'~~~ii3•q~pn a°~' 2 is.~
For Value Received, I, w~~6F' e
t~her of us prom ise to pay to the order OUTDOOB RESO~tTS OF
~?ti1ERICA, INC.~ P. O. Box 11 6, ~Te sen Beach. or ida, 33 57~0; any other ac ~as the holder hereof may
designate in writing, the sum of 1e~,~ • Q Dollars.
this s~~m Ueing the Total of Fayments r ferred to in the Disclosu tat ent beIow, ic includes a FINANCE
t'HARGE on the amount financed. payable in ~v equal consecutive monthly- installments of
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~~_each, and the first installment to become payable on the___~!~day of
1~~, and one such installment to.become due and payable on the ~~day of each succeeding month -
~~ntil the whoie of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
I~efore the fina; installment date, the unearnG~i portion of the FINANCE CHAftGE sh~ll be~ rebated under
the Rule of 78's. _ -
I In the event of default in the due and punctual payment af any itistallment on this Note for a_
period of
~ thirty (30) days. or if any statement, representation or warranty in any application for the credit evideneed
by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT
THE PRIOft WRITTEN CONSENT OF THE HOLDER HEREOF. SHALL SELL, ENCUMBEB (ERCEPT
~ FOR ANY MOATGAGE WHICH 1S SECURITY FOR ~HIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBER OR C~MMIT ANY BREACH OF THE MORTGAGE OR PERMIT Oft SUFFEIt ANY LIEN TO
EXIST ON THE REAL PROPERTY PUBCHASED BY THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvencq (howsoever
evidenced) or bankruptcy of anyone or more of the undersigned, then the er.tire 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 wai~er of the right
to exercise the same at any other time. .
Time is of the essence of this Note. In the event any installmen~ 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 57 of such installment or ~5, whicherer is less. and in the event this Note :s c:,;:e:;~ed by
~ law or through an attorney at ]aw or under advice thereof, the undersigned agrees to pay all cost~ oi o~liection,
~ ineluding reasonable attorney's fees and court costs to the extent permitted by Florida-law. _ t•:
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~ a.4sign to the Holder a sufi'icient amount of such homestead or exemption as may be allowed, tnclud:ng auch ~
~ homestead or exemption as may be set apar~ in ban,crzs~~~y, to pay this note in fuft, with~ a!1 costs of collection, ~
~ and do hereby direct any trust~:e in bankruptcy having possession of such homestead or exemption to deliver to ~
the Holder a sufficient amount of property or money se~ apart as exempt to pav the indebte~ne~ evidenced ~
~ hereby. or any renewal~ ther~of, and do hereby, jointly and severally, appoint the Holder the atto~ey in fact for ~
each of them, to claim aiyu and all homestead exemptions allowed by law.
first mortgage for th ity of the aforesai~ indebtedness is retained by OIJTDOOR ftESORTS OF
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AMERiCA, INC., on Lot No. in that certain Condominium known aa QUTDOOR RESORTS AT I~1E'I"~'LES
ISLAND~ and on ar.y improvements. fixtures or after acquired groperty added thereon, as' sf~own by plat re-
corded in the Of~'ice of the Cireuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 2:1A
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