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the mort gor, in consi er tion of the principal su s in the ~ro ry not~ hereafter described, re-
ceived from OUTDOOR RF.SOAT3 OF AMERICA, INC a corporatian an: d and ex:sting under the Laws
~f the State of Tennsssee. the Mortgagor, hereby on this~.,~,~Z~! day of 19_G1-,
martgages to the biortgagee the re property in St. Lu~e County, Florida. ribed as:
~ Lot No ~ ~ in that~ certain .condominium known as OUTDOOR
~ RESORTS r1MERICA AT NETTLES ISLAI~D, us shown by plat
~ recorded i the-Oti'ice of the Circuit Court in and f~~~~~.ue~.'ie County. ~
\ .Florida, in Plat B~ok 16, page 1:1A through 1J. ~~~r .,r~(~~_5~_ ~~G -iyy1/D -
~ THIS IS A PURC~IABE ~10NEY, MORTGAGE -
As security for ~he payment of the promissory note of which the following is a copy:
Instaliment Note on~d Disclosure St ~e t, .
~1~~~~ • ~ Ftorida
~ 19 fJ
For value Received~ I, we or either of us promise to pay to th order of OUTDOOR RESORTS OF
A~iERIGA. INC., P. O. Box ll ,,J nse Beach, Flor ida, 57, or ny ot r plac~ the holder hereof may
de~i~nate in. ~vriting,. the sum o - (f12S~~~) Dollars~
tHis sum being the Total af Pay nts referred to in the isclosure S e ent below. which includes a FINANCE
('~iARGE on the amount financed. payable i a equal consecu~ monthly ' tallmenta of
each, and the first installment to become payable on th~._day of ~ -
I9I~, and one such installcnent to become due and payable on th~'~ day of each succeeding month
untii the whole of said indebtedness (Total of Paymer.ts)~ is paid. In ".ne event of prepayment in full by cash
I hefore the final installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
j the Ru}e of 78's. - ~ ~
4 In the event of default in the due and unctual a
p g yment 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 founa to be untrue in any material respect, or in the event THE UNDERSIGNED, WITIiOUT
~ THE PRIO~t WRITTEN CONSENT OF THE HaLDER HEREOF, SHALL SELL, ENCUMBEB (EXCEPT
FOR ANY MORTCAGE WHICH 1S SECUKITY FOR THIS NOTE) OR OTHERWISE DISPOSE OF OR Eh'-
. CUMBEB OR COMMIT ANY BREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND - FINANCED THROUGH
THE 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
du~ shaU become immediately due and payable at the option of the holder hereof without demand; presentmetit
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. -
Time is of the essence of this Note. In the event any installment is not paid whPn 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 instaliment or $5. whichever is less. and in the event this No~e ~a, qollected by
law or through an attorney at ~aw or under advice thereof, the undersigned agrees to pay all coste~of collection,
including reasonable attorney's fees and court costs to the extent permitted by Florida ]aw. ,
~ The undersigned and all enti~rsers or other parties to this note jointly and severr~ily transfer, co.nvey and
~ a.gsign to the Holder a sufficient amount of such homestead or exem~tion as may be allowed~ including such
~ home ,tead or exemption as inay be set apart in hankruptc;y. to pay this note in full, with all costs~ of collection,
and do hereby direct an,q trustee in bankruptcy having possession of such homestead or exemptio~'Yto deliver to
the Holder a sufficient amount of property or money s~et apart as exempt to pay the indebtedrtess evirlenced
hereby. or any renewal thereof, and do hereby~ jointly and severally, appoint the Holder the attor~y in fact for
~ each of them, to claim si:~ and all homestead exemptions allo~ved by law.
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A first mortgage for the rity of the aforesaid indebtedness is retained by OiJ1'DOOR ~ESORTS OF
~ AMERICA, INC., on Lot h'o._ n that certain Condominium known as OUTDODR RESGRTS AT NETTLES
ISLAND, and on any improve ents, fixtures or after acquired property adde~ tlaereon, as shown by plat re-
corded in .the Oflice of the Circuit Court in and, for St. Lucie County~ Florida~ in PIAt Boo3c 16, page 1:1A
~ through 1J. . ~
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