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~t~,Sl1AMt TO q~i~piER 71•131, " Y'O~ERI~~ - ' ' !
R~ ACTS pF 1972r ' ' ~ ` ~
~ ~ ,~t~ M~RTGAGE~ - ~ _
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~ tlie ~iioi•t~<<~rc?!•, iS~ co~?sideratian of tl~e princip~l sum specified_ in the promi~sai•~• note hereaftei• desci•i1~ed, re~ ~
cei~•ecl Pr~m~ OUTI)OOR RF.SORTS OF~ At~tERICA, ING., a corpgration org~i~izecl ~uitl e~istin~ under the I.aws ~
uf the State of Ten~iessee, the A~1ort~;agor, hereUy on this_1~~~~d~y of~~~~ u~t~~/ _ 19~,,~~,. }
~ ?ll[?1•t~?a~,?e:: to tlie ,1lurtgagee the real progerty in St.. Ltccie Co~u~t~~, Florid~, described a§: ~
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Lot ~~o._ iii that cei•tain rondon~inium kno~vn as OUTDOOR ;
RESORTS OF AniERICA .AT .\'ETTLES-ISL~\'D, as sho~~~n by plnt ~
recorded in' the Ofliee of the Circuit. Court iu anci for St. Lucie County, _t
t Florida,~in Plat Book 16, p~ge 1:1A throu~;h 1J. #
- ~~U~- SU(-D/~'7-oOV~~ ~
- THIS IS .'1 YUHCHASE :1i0`~~l' ~IORTGAGE ~
A~ securit~~ for the payn~ent of the promissory note of ~~~hich the fallowing is << copy~:
- Install~nent Note and Dis~losure Stotement _ ~
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' - - ~ ~~~~~s° . ~t*A'' t~/ Florida ~
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- F~?1• Value Recei~•ed, I, «•e or either of i~s pi•umise to pay to the order of OUTDOOR RESORTS OF ~
- A~IF.RICA. INC., P. O. Box' 1116, Jensen Beach, Flor ida, 33457, or any_ other plac~~~, f,h~ holder hereof may +
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~ de~i~;nate in ~~~ritin~*, the sum of~CYt~~~.1~~~~G1rfT~~ti~aE,S~~~ ' ~H~~ ( ~/~j nollars, _
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thi~ •i~m l~ein~,~ the'I'otal of Payments referred to in the ~Disclosure ~tatement below, ~r•hich includes a FI?~ANCE ~
C'~~AR(~F. on ~the amount financed, payaUle in_-_ ~ equal consecuti~~e monthly installments of ~
JJ+ ~ T
y__-_ J~'y9 each, and the first installment _to become payaUle on the r_-day of ~ , _
- 1~_`1,5_; and one such installment to beconie ciue and payable on the_1'~ day of each s ceedinb month ~
- ts~itil the «~hole of said indebtedness (Total .of Pa~mYents) is paid. In thc; e~ent of prepay in full by cash ;
hefore the fina} installment date, the unearned portion of the FI~'A~'CE CHAP.GE all be rebated under . ~
- the Rule of 78'~. . - ' ~
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i In the e~ent of default in the due and punctuai paS~ment of a~iy iiistaliment on this ~'ote for a period of ;
_ thirty (30) daS~s, or i~ any statement, representation or ~ti•arranty in any application for the credit evidenced ~ ;
~ b~• this h'ote is found to be untrue in any material respect; or in the event THE UNDERSIGNED~ ti~ITHOLJT ~
j TF~E PRIOR «'RI'I'TEN CONSENT OF THE HOLDER HEREOF, SHr~LL SELL, ENCUDiBER (EXCEPT ~
i FOR Ai~Y 1~i0RTGAGE ~t'HICH 1S SECURITY FOR T~~IS I`'O OR OTHER~'~'ISE DISPOSE OF OR EAT- ~
CUDIBER OR CO1~iriIT A~tY $REACH OF TfiE i~iORTGAGE OR PERlIIT OR SLFFER ANY L,I~N TO
~ EX1ST ON THE R~f1L" PROPERTY YURCHAS~D BY THE UNDERSIG~`ED A~:D FiNANCED THROUGH ~
. T~~E CREDIT EVIDENCED ~3Y THIS I~'OTE oi• in the event of the incompetency, insolvency (howsoever ~
e~~idencecl) or I~a~~~sruptcy of anyo~ie or more of the tmdersigned, then the entire ren~aining indebtedness'then
~ ciue sl~all hecome immediately due ~ nd payable a~ the option ~~f the holder hereof ~~~itl~out demand, prese?~tment ~
or notic~ of an3• kind. Any failure of holder to e~ercise said OI)t1011 shall not constitute a~ti•aiver of the rig~?t ~
I to exercise the same at any other tinie. _ - - ~
! T~me is of the essence of ttiis i~Tote. In the e~-ent any installment is nat paid ~~hen ~tie or ~~~ithin ten ~
days thereafter, the holde`r ma;~ collect, and the undersigned agree~ to pay a late charge on such in~taliment in ~
an amount equal to 5;~ of such installment or $5, ~chicherer is less, and in the e~ent.this N01Q l9 co.;ected Ly
la~ti~ or through an attorney at la~~~ ar under advice thereaf, the unciersigiiel agrees lo pay att costs of collection,
incluclin~; reasonable attorney's fees and court costs to the extent pErmitted Uy Florida 12~v. ~
- The undersi~ned and all endorsers or other parties to thi~ note jointly anc~,severally transfer, convey an~
assign to the f~older a suflicient amount of such homestead or exemption as n~zy b2 allowed, ineluding such
homestead or Pxemption as may be set apart in bankruptc~, to pay this note in fli11, ~~ith ail costs•of collection, .
and do hereby dirQCt any trustee in bankrupicy~ having possession of such homestead or e~en~ption to deliver to
the Holder a suf,~'icient amour.t_ of nroperty or mo*~ey set apart as exempt to pay the indebtedness evidenced -
~ hereby; or any renewa) ~hereof. and do herEby, j~intly and se~~er~ll~~, app~~int the FIolder ±he attorney in fact for ~
each ~f ~them, _to claim a~:~% and.a~l homestead exemptions allo~s~ed Ur la~~•. ;
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A first mortgage for the szcuritv of thE aforesaid indeUtedness is retaine~~. by OiJTDOOR RESORTS OF ~
AIt~RICA, iNC., an Lot ~'o~in tnat certain Condominium known aa OtiTD00R REUORTS AT NETTLES f
~ 1SI,A:~ t), and on an~ improvements, fixtures or after acquired property added thereon, as ,hown by plat re- ~
rorded in the Office of the Circuit Court in and for St. Lucie County, Florida, in P:at Book 16, page 1:1A .
through 1J. - BQ~~ 2~J F`A~E~~t~4 ~ '
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