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; _ 282,t~~!_ M O R T G A G E
~o ~ ~ ~.~J~9L s R th Lv~ ~s~ ~.<~~1 , _
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the mortgagc~r, in consid~ration of the prIncipal sum specifie~ in the promissory note hereafter 'c[escrit~#; ~=i+~+.
cei~ ed from OiITDOOR ftESO~tT5-OF AMERICA, .INC.. a corporatiurn organized and existing u~er the, j..~~s
of the State of Tennessee, the Mortgagor. hereby on this~~`tdap of ~ .~~._y 1~9~~f
mortgages to the Mortgagee the real property in St. Lucie County. Florida, described s: ~f ~ ;
; Lot No ~ in that certain condominium. known as OUTDOOR
. RESORTS OF AMERICA AT NETTLES ISLAND, as shown by plat . '
recorded in the Of~'ice of the Circuit Gourt in and for St. Lucie County.
~ Florida. in Plat Book 16. page 1:1A through 1J. ~
~ _ .
- THIS IS A PUKCHASE MONEY MOftTGAGE
as security for the payment of the promissory note of which the following is a caFy:
~ Instaliment Note- and Disclosure Statement-
r~ ~S 7~ ~V ~ ~ L- u c/ c ~7~j _ Floriaa
A~~?~se!;~ ~ 'S~~Da- ~O/-l0~5'OOt~/ ____~'-~Le.
UCE ONLY 19~~ -
For Value Received. I. we or either of us prom ise to pay to the order of OiJTDOOR RESORTS OF
AI~IERICA. INC.. P. O. Box. 111 Jensen Beach. Florida. 33457. or any other plac~a~s th~ holder hereof may
desi~nate in writing, the sum of ~ ( Dollars.
Ehis sum being the Totai of Paymen referred to in the Disclosure Stat~ment below. which includes a FINANCE
CHARGE on the amount ~financed, payable in ~e ~ equal c~nsecutive monthly installments of
g__~ ' each. and the firat installment to become payable on the day of ~6`~ ,
' 19 and one such~ installment to become due and~ payable on thp day of each succeeding month
i until the whole of said indebtedness (Tvtat of Payments) is paid. In the event of prepayment in full by cash. -
~ i,efore the fina! installment date. the unearned portion of the FINANCE CHAItGE ahall be rebated under
; the Rule of 78's.
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~ 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 iTNDERSIGNED, WITHOUT ~
THE PRI08 ri~VRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY F08 THIS I~IOTE) OB OTHERWISE DISP05E OF OF EN-
CUMBER OR COMMIT ANY BREACH OF THE MOBTGAGE 08 PEKMIT OR SUFFER ANY LIEN TO
EXIST ON THE REAL PROPERTY ~URCHASED BY THE UNDEftSIGNED AND FI~TANCED THROUGH
THE CREDIT EV~DENCED BY 1`HIS 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 ~silure of holder to exercise said option shall not conatitute a waiver of the right
to exercise the same at any other time. - ~
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Time as of the easence of this Note. In the event any instalimen~ is not paid when due-or within ten
~ days thereafter. the holder may coUect, and the undersigned agrees to pay a late charge on such.itistallment :n
~ an amount equal to 5 J~ of such installment or $5, whichever is less, and in the event this Note;,is cellected by
~ taw or through an attorney at law or under advice thereof, the undersigned agrees to pay all co~ta of collection,
including reason$ble attorney's fees and court costs to the extent permifted by Florida law.
~
The undersignecl and all endorsers or qther parties to this note jointly and severally transfer, convey and ~
~ assign to the Holder a suft'icient amount of such homestead or exemption as may be allowed,:,~ricluding such ~
homestead or axemption as may be set apart in bankruptcy, to pay this note in ~ull, with all cost~, of collection, ~
~ and do hereby direct a~y trustee in bar~lcruptcy having possession of such homestead or exemption to deliver to ~
~ the Holder a sufficient amount of property or money set apart as exempt to pay the indebtedness evidenced
hereby, or any renewal thereof, and do hereby, jointly and severally, appoint the Holder the attorney in fact for
~ each of them, to claim any and all homestead exemptions alloweci by law. :
~ " A first mortgage for t~ security of the aforesaid indebtedness is retained by OUTDOOB RESOftTS OF
AMERICA, INC., an Lot No.~C~"-~ that certain Condominium known ~ts OUTDOOR RESOftTS AT NEITLES
ISLAh'D, and on any improvements, fixtures or after acquired property added therEOn, as shown by plat re-
corded in the OP.Sce of the Cireuit Court in and ~for St. Lucie Cuunty, Florida, in Plst Book 16, page 1:1A
thrr,;~~*.h, 1.T.
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