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the mort~;a~or. in consideration of- the principal suru specified it~ the promissory note hereafter described. rc-
rei~•eci from OUTI)OOR RESORTS OF AM~RICA. INC.. a corpQration organized and existing under the Laws
of the State of Tennessee. the Mortgagor, hereby on thiq Aa-`Bday of t~-~ ~ is 7~ ,
mortgages to the l~iortgagee the real property in St. Lucie County, Florida. descri as:
~ . Lot No.~6~ ~ in that certain condominium known as OUTDOOR
RESGRTS OF AMERICA AT NEITLES YSLAND, as shown by plat -
N recorded in t~e Ofi'ice of. the Circuit Court in pnd for St. Lucie County,
\ Floridn~ in Plat Book 16, page 1:1A through 1d. .
THIS IS A PURCHASE MONEY MORTUAGE
As security for the payment of the promissory note of which the foltowing is a.copy:
Installment Note and Disclosure Stotement
q ~7 ~O - . _ ~ ~ ~.t f!T " Florida
; ~5a~-soi-io~d -ooq~a '
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For Value Received~ I, we or either of us promise to pay to the order of ~OVI'DOOR RESORTS OF
~IiERIGA. INC.; P. O. Box 111 Jensen Beach. Flor ida, 33457, or any uther place as the holder hereof may
de~ifinate in writing, the sum of ~ ~~~a~~
this sum being-the Total of Paym s referred to in~the Disclosure Statement low. which inciude~ a FINANCE
('~iARGE on. the amount financed, payable in ~-0 equal cansecutive monthly instailments of
S_ f each. and the first installment to become payable on. the day of~6y-
193~, and one such installment to become due and payabie on the_ 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
i t?efore the fina! installment date, the unearned portion of the FIh'ADTC.~~HARGE shall be rebate~ under
j the .Rule of 78's. ~ ~ -
~ In the event of default in the due and unctual a
p p yment of any installment on this Note for a period of
thirty (30) days, or if any statement. representation or Karranty in any application for the credit evidenced
hy this Note is foand to be untrue in any material respect, or in the. event THE UNDERSIGNED, WITHOUT ~
THE PRIOR WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FO~ THIS NOTE) OR OTHERWISE DISPOSE OF OA EN- .
CUMBEft OR ~COMMIT- ANY RREACH OF THE MORTGAGE OR PERMIT OR SUFFER ANY LIEN TO ~
EXIST bN 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
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 exereise said option shail 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 when due or within ten
daya thereafter. the holder may collect~ and the undersigned agrees to pay a late charge on such installment in
an amount equal to 5 J of such installment or $5, whichever is less, and in the event this Note ~s collected by
y law or through an attorney at law or under advice there~f, the undersigned agrees ta pay all costs ~of ~ollection,
r. including reasonable attorney's fees and court costs to the extent permitted by Florida Iaw. ,
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The undersigned and all endorsers or other parties to this note jointly anci severally trans~'r, convey and
assign to the Holder a sufl~cient amount of such homestead or exemption as may be al~owed, ~ncluding such ~
'n
~ homestead or exemption as may be set apart in bankruptc;?, to pay this note in full, with all costs of collection,
~ and do herEby direct any trustee in bankruptcy having possession of such homestead or exempti to deliver to _
the Holder a sufficient amoant of .property or money set apart as exempt to paS the indebte~ess evidenced
~ herehy, or any renev~al thereof, and do hereby. jointly and severally. appoint the Holder the atta~y in fact for
each of them. to claim at:;~ and all homestead exemptions allowed by law. ~
A first mortgage for the security of the aforesaid indsbtedness is retained by" OtJTDOOB R~:3()RTS OF
AN;ERICA, INC., on Lot Na~~=~n that certain Condominium knawn as OUTDOOR RESORTS AT NE'PfLES
1SL~ND, and on any improvements, fixtures or after acquired property added thereon, as shown by plat re-
corded in the Of~'ice of the Cireuit Court in and for St., Lucie County. Florida, in Pl~t Book 16, page 1:1A -
through 1J. . U~
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