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the mort r, in cbnsideration of th rincipal sum specified in t e romissory note hereafter descri~ed~ re-
cei~•ed from OUTDOUR RESORTS - AMEtZICA, INC.. a corpor 'on organ and existing under the Laws
of the State of Tennessee, the Mortgagor~ hereby on thi~~_day? of 191~L_.
mortgages ~ the Mortgagee the real property in St. Lucie County. Florida~ d bed a8:
,a -
~ Lot No in that- certain condominium known as OUTDOOR,
" RESORTS O~ AMEAICA AT NETTLES ISLAND, as shown by plat
recorded in the Oflice of the Circuit Court in and for St. Lucie County,
Florida. in Plat Book 16. page 1:1A through 1J.
s - THIS I3 A P17ACHASE MONEY MOATGAGE -
As security for the payment of the promissory note of which the following is a copy:
Instaliment Note and Disclosure St em ~
~ t~~~r~ •"TSGL?- S
Gy- OSe?8 -OG1~/~ • , Florida
- ~ 19~
For Value Received. I. we or either of us promise to pay to the er of OUTD008 RESORTS OF
AMERICA, INC.. P. O. Box 111 Jensen each, Flor i~ 33457. r any o her place as the holder hereof may
designate in writing. the sum of ) Dollars,
this sum being the Total of Paym " referred to in the Disc ure. tement below, which includes a FINANCE
CHARGE on the amount financed. payable in ~ 4 equal consec~ e mont installmenta of -
~__~~e_each, and the firat installment to become payable on thel~day of , „
19~~, and one such installment,~to become due and payable on th 'Q~ aq of each succe~ing month
until the~ whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
before the final installment date~ the unearned portion of the FINANCE CHARGE ahaU be rebated under
I the Rule of 78's. '
i In the event of default in the due and punctual payment of any installment on Lhis Note for a period of
' thirty (30) days. or if any statement, representation or warrantg in any $pplication for the credit evidenced
; by thia Note is found to be untrue in any material respect. or in the event 1'HE UNDERSIGNED, WITHOUT
( THE~ PBI4R WRITTEN CONSENT OF THE HOLDER HEREOF, SHALL SELL, ENCUMBEB (EXCEPT
~ FOR ANY MORTGAGE WHICH 1S SECUAITY FOR THIS NOTE) OR OTHERVYISE DISPdSE OF O~t EN-
CUMBEB Oft COMMIT ANY BREACH OF THE MOBTGAGE OR PEItMIT O~t SUFFEK ANY LIEN TO
~ EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGIi
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 be~tr~e immediately due and payable at the option of the holder hereof without demand, preaentment
or notice of any kind. Any failure of holder to exercise said option shall not consti+.ute 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
~ ~ays thereafter, the holder may collect, and the undPraigned agrees to pay a late charge on su~h installment in
k an amount equal to S~ of such installment or ~5, whichever is less, and in the event this Nate is collected by
~ law or through an attorney at law or under advice thereof. the undersigned agrees to pay all costs of collection.
~ including reasonable attorney's fees and court costs to the extent permitted by Ftorida law.
e
~ Tl~e undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
~ assign to the Holder a sufficient amount of such homestead or exemption as may be allowed~ including such
~ homestead or ~xemption as.may be set apart in t~ankruptcy~ to pay this note in full, with a1C costs of collection,
~ and do hereby direct any truatee in bankruptcy having possession of such homestead or exemption to deliver tc
the Holder a Kufficient 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
ea^h of them. to claim a~:u and all homestead exemptions alluwed by law. - :
~ A frst mortgage for the security of the aforesaid indebtedness is retained t,y OtTTD00K BESORTS OF
AMERICA, INC.~ on Lot N.~~n that certain Cc~ndominium knuwn aa OUTD008 ~tESORTS AT NEZTI.ES
ISLAND, and on any improvements, fixtures or after acquired Uroperty added thereon, as ahown by plat re-
~ corded in the Office of the Cireuit Court in and for St. Lucie Co!mty, Florida, t+i~ Book 16f ge 1:1A
Lhrough IJ. f pr~t PhCE
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