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G . 3282~i"7. _ ~T
M O R T G~? G E~
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the mortgagor~ in co iderat~on of th principal sum apecified in the promissory note hereafter described, re-
cei~ ed from OUTI)OOR RESORTS 4F AMERICA, INC.. a corpo~
tion organize an existing wider the Lawa
of the State of Tennessee, the Mortgagor, hereby on this_..~1__day of ~ , lS~s ,
mortgages to the :~liortgagee -the real prope.-ty in St. Lucie County~ Florida, described as: .
~ Lot No.~ 3~ ~n that certain -condominium known a$ OUTDOOR -
RESORTS OF AMERICA AT NETTLES ISLAND. as -shown by plat .
recorded in the Office of the Circuit Court in and for S~ Lucie County.
Floiida, in `Plat Book 16, page 1:1A through 1J. - ~~is£^S *
oN~r . ~}3~L? -SD/- 03,?~-Oo~~~
_ - THIS . IS A PUBCHASE MONEY MORTGAG~
As security for the payment of the promissory note of which the following is a copy: -
Installment No e~ sure Statement ~
g~. O y D•~ 0 ~ ' d'1 Lu G! f Fiorida
o~~,~ ~
W ~.~:r~ . ~ ` . . .19Z__~
Far Value Received, I, we~ or gither 'of us promise to pay to the rder of OUTDOOR RE~BTS OF .
A:~fERICA. INC., P. O. Box 11 Jensen Beach, Flor ida, 334~i7, or any other place as the holder hereof may ~
cle~i~nate in writing, the sum of t ~'S%~ ~s.c~t«! ,~7t.~ C~s-lE
~ ~ pollars.
this s~~m Ueing the Total of Paymen referred to in the isclosure Statement below. which it~cludes a FINANCE
('HARCE on the amount financed. payable ir~ equal consecutive monthly instaUments of
q _ j_ ~ ach, and the first instaUment to become payable on the~day of
l J~~ and one such -installment to become due and payahle on th day of each succeeding month -
until the whole of said indebtedness (Total of Paymeats) is paid. In the event of prepayment in full hy cash
t~efore the fina! installment date, the unearned portion of the FINANCE CHARGE shall be rebated under
the Rule of ?8's. ` . _
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f In the event of default in the due and punctuai payment of any installment on this Note for a geriod 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 m~terial respect, or in the event THE UNDERSIGNED, WITIiOUT
( THE PRIOR WRITTEN CONSENT OF THE HOLDEB HEREOF. SHALL• SELL, ENCUMBER (EXCEPT
~ FOR ANY MORTGAGE WHICH 1S SECURITY FOR THIS NOTE) Oft OTHERWISE DISPOSE OF OR EN-
CUMBEft OR COMMIT ANY BREACH OF THE ~ORTGAGE OR PEftMIT Oft SUFFER ANY LIEN TO
:
EXIST ON THE REAL PROPERTY PURCHASED B~ THE UNDERSIGNED AND FINANCED THROUGH
THE CREDIT EVJDENCED BY THIS NOTE or in the event of. the incompetency, insolvency (howacever
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 optian of the hQlder hereof without demand. presentment
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 eveut any installment is not paid when 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 installment or $5, whichever is less. and in the event this Note is collected by
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~ law or thro~igh an attorney at law or under advice thereof~ the undersigned agrees to pay all cos~s of.collection,
~ including reasonable attorney's fees and court costs to the extent permitted by F7orida law. ! ;
The undersigned and all endnrsers or other parties to this note jointly and severaily trans~~r, cwnvey snd
assi~,-n to the Iiolder a suffici~nt amount of such homestead or exemption as may be ailowed, ~izec!uding such
hornestead or exemption as may be set apart in bankruptcy. to pay this note in full; with all cos~s of collection,
~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exempti~``to i deliver to
the Holder a sufi'icient amount of property or money set apart ~ exempt to pay the indebtec~iess evidenced
hereby, or any renewal there~f, and do hereby, jointly and severally, appoint the Holder the attot~ey in fact for
each of them, to claim a~:; and all home:~tead exemptions aliov?ed by lsw. ~
r
~ A first mortgage for the security of the aforesaid indebtedness is retained by OLJ'fDOCR AESORTS OF
AMEftICA, INC., on I.ot Nql~-~n that certain Condominium known ss OUTDOOR RESORTS AT NETTLES
~ ISLAND, and on any improvements, fixtures or after acquired property added thereon, as show~n by plat re-
~ corded in the Oflice of the Cireuit Court in and for St. Lucie County, Florida, in Plat Book 16, page 1:1A
through 1J. J j ~
e:~~ ~as~ 594 _ -
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