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~ 32~3253 M O R T G A G E
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the mortgagor. in consideration of the principal sam
sp ified in the promissory note hereafter described, re-
ceived from OUTDOOR RESORTS~ OF AMERICA. INC:. a corporstion organized and existing under the Lawa _
of th~ State of Tennessee. the Mortp~agor, hereby on this~_day of g , 19~.~'.
mortgages to the Mortgagee the real property in St. Lucie County. Florida, describe as:
~ ~ Lot No.1j~~~~ in that ~certain condominium known as OUTDOOB
a RESORTS OF AMERICA AT NEITLES ISLAND~ -as ahown by plat
N~ recorded in the Office of the Circuit Court in and !or 3t. Lucie County.
~ ~ Florida, in Plat Book 1fi~ page 1:IA through iJ. ~~'~S~QS `
~ uce oh~r • ~~'Cb2.-~di/ /SD 3- o~f
THIS IS A PUBCHASE MONEY MORTGAGB
As security for the payment of the-promiasory note of which the following is a copy: - ~
" Installment No ~~,~~ure Statement .
$ 8~? ~ ii~Mp!riE 1~n' ~ vc/e Co ~~1~ Ftorida
~ ~ 16 OM~?~e 71•134. ~5~,~ ' '
pU /0 ~v9~ 19.Z~
i ~t.~. a~. i~:~t E0, ~ .
For Value Received. I. we o~ us promise to pay to the order of OUTDOt)R RESORT3 OF
AMERICA, INC.~ P. O. Box 1116, Jensen Beach, Flor ida, 33457. or any other pla~e~ a~ the holder hereof may ~
designate in writing, the sum ofL~~~ec.s.~.~/c~ Ti~o u~v +-eo~ ~SC`e.t%
(.t~,~) ~ollars.
this sum being the Total of Payments referred to in the Disclosure Statement~ below, which includes a FINANCE .
CHARGE on the amount financed. payable ia 6 ~ equal consecutive month~y installments o~
g / 3 8. I 3 each, and the first instaliment to become payable on th~~~ day of 4 G~
19 7~ and one such installment to become due and payable on the ~ s~ aay of each sueceeding month
until the whole of saed indebtedness (Total of Payments) is gaid. In the event of prepayment in fnll by cash
If before the fina} installment date, the unearned portion of the FINANCE CHARGE ahall be rebated under
~ the Rule of ?8's.
f
` 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 UNDEABIGNED, WITHOUT
THE PRIOIt WRITTEN CONSENT OF THE HOLDER HEP.L~~, u::~LL SELL. ENCUMBER (EXCEPT
FOR ANY MORTGAGE WHICH 1S SECURITY FOIt THIS NOTE) OR OTHERWISE DISPOSE OF OR EN-
CUMBEB OR COMMIT ANY BREACH OF THE MOATGAGE OB PEftMIT OIt 8UFFE8 ANY LIEN TO
EXIST ON THE REAL PROPERTY FURCHASED BY THE UNDERSIGN~D AND FINANCED THROUGH
THE CBEDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvencq (howaoever
evidenced) or bankruptcy of anyone or more of the undersigned, then the entire remaining indebtednesa 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 conatitute a waiver of the'right
to exerc:se 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
days Lhereafter. ±he holder may collect. and the underaigned agrees to pay a late charge on such installment in
~ an amount equal to 5% of such installment or $5, whichever is less. and in the ev~nt this Note is collected by
~ law or through an aLtorney at law or under arivice thereof, the undersigned agrees to pay sIl costs of collection,
~ including reasonable attorney's feeg and court costs to the extent permitted by Florida law. :
The undersigmed and all endorsers or other parties to this note jointly and severally tranafer, convey and
assign to the Holder a sufficient amounz of such homestead or exemption as may be allowed, inclading such
homestaad or exemption as may be set apart in 1~ankruptcy, to pay this note in full, with all costa of collection.
and ~io hereby dirsct ~y truatee in bankruptcy having possession of such homestead or ~xemption to deliver to
~ the_ Holder a suft~cient amount of proper~y or money set apart as exempt to pay the indebted~esa evidenced
},ereby, or any renewal thereof. and do hereby, jointly and severally, appoint the Holder the attoraey in fact for
each of them, to claim a~:q and all homestead exemptions allowed by law. .
A!~r~t mortgage for t~e security of the aforesaid indebtedness is retained by OiJTD0~8 ~tESOYtTS OF
AMERICA, INC.. on Lot No./31[/~, that certain Condominium known as OUTDOOR RESORT3 A~' NETTLE~
ISLAND, and on any improvements, fixtures or after acquired property added thereon, sis ahown by plat re-
' corded in the Office of ~he Circuit Court in and for St. Lucie Caunt~y~ ~yr~a, in ~~k 16, page I:lA
through 1J.- ~ - et~~ 4y ~
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