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_ ~~6 ~ M~ R 7-G A G E - ~
~chard Re~.t~hmavr & Matilda Stout, Joint Tenancy Q~~ ,
~tie mortba~oi•, in consideration of the principal sum specified in the promissory note hereafter described, re~ ~
cei~ed from OUTDOOR RESORTS OF ARIERICA, INC., a corporation organized and existin~ under the Laws :
.
" of the St~te of Tennessee, the Mortgagor, hereb;~ on this.~~-day of Septem~~; , 19 73 , ~
mortg~ges to the ~Iortgagee the real property in St. Lucie County, Florida, described as: ' ;
• ~ -
Lot No. 561/II in that certain condominium known as OLTTDOOR _ ~
- RESORTS OF AIiERICA AT . NE'I"TLES ISLAND, us shown by plat ,
recorded in the Office of the Circuit Court in _and for St. Lucie County, }
Florida, in Plat Book 16, page 1:1A through 1J. - ~
- ~ THIS IS A PURCHASE 11iO~1EY RIORTGAGE ~
- - ~
As security for the payment of the promissory note of tivhich the follo~ing is a copy: ,~~~a _~61_ D7ry/7~d ~
~ ~ lnst~~{ment Note and Disclosure Statement ~ 9- ~
- S~. Lucie County ~
~9, 2$1.28 . . - - Florida
~ _ September 6, 73 1
. . . 19 ~
- For Value Received, I. ~ve or either of us prom ise to pay to the order of OUTDOOR RESORTS OF i
ADiERICA, INC., P. O. Box 1116, Jensen Beach, Flor ida, 33457, or any other place as the holder hereof may ~
~ Nine thousand two hundred eighty-one 9 2g1 28
designate in ~tiriting, the sum of ~~l~n _ • ) Dallars.
- this s~im being the Total of Payments referred to in the Disclosure Statement below~ which includes a FINANCE j
CHARGE on the amount financed, payable in~""-'-'9~r_r__ equal consecutive monthly installments of ~
~ 96 .6 each, and the first installment to become payable on the 15t day _ af ~=c~mbsr ~ ~
]9~3_, and one such installment to become due and payable on the__ lst day of, each succeeding 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 FII`TANCE CHAF~,GE shall be rebated under ?
the Rule of 78's. '
` `In the event of default in the due and punctual payment of any installment on this Note for a period of '
i thirty (30) days~ or if any statement, representation or wairanty in any application for the credit evidenced ~
~ by this Note is found to be untrue in any ma =erial respect, or in the event THE UNDERSIGNED~ ~VITHOUT
~ - THE PRIOR «'RITTEN CONSENT OF TH'.~ HOLDER ~EREOF, SHALL SELL, E~CUMBER (EXCEPT 3
F~R ANY MORTGA.GE ~VHICH 1S SECURITY FOR THIS NOTE) OR OTHERZYISr. DISPOSE OF OR EN- ~
CUhiBER OR COAiMIT ANY BREACH OF THE MORTGAGE OR PERISIT OR SUFFER ANY LIEN TO ~
_ EXIST ON THE _REAL PROPERTY PURCHASED BY THE UI~DF,RSIG:`ED AND FINAI`'CED `I'HR~JI3GH ~
THF CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency, insolvency .(howsoever
evidenced) or bankruptcy oi anyone or more of the undersigned, then the entire remaining indebtedness then
due shall become immediately due and paS~able at the option of the holder hereof ~rithvut demand~ presentment ~
or notice of any kind. Any failure of holder to exercise •said option shall not. constitute a svaiver of the right ~
to exercise the same at any other time.
Time is of the essence of this I`ote. In the event any installmeri't is not paid when ~ue or ~~lithin ten ~
days thereafter, the holder may callect, and the undersigned agrees to pay a late charge on such installment in
an amount equsl to 5% of such installment or $5, whichever is les~~ and in the e~ent this I~~te is collected by ~
law or through an attorney at law or under advice thereof, the un3ersigned agrees to pay~all costs of collection, ~
including reasonable attorney's fees and court costs to the extent permitted by Florida law.
~
The undersigned and all endorsers or other parties to this note jointly and severally tr~nsfer~ canvey and ~
; assign to the Holder a sufi'icient amount of such homestead or exemption as may be allowed, inc!uding such ~
~ homestead or exemp#ion as may be set apart in bankruptcy, to pa3• this note in fuli, with ail ~costs of collection~ - ~
j'~ and do hereby direct any trustee in bankruptcy having possession of such homestead or exemption to deliver to ~
~ thp Holder a su;~cient amount ai pru~erty or money set apart as e~empt to pay the indebt~ciness evidenced ~
~ hereby, or an~~ rene~val thereof, and do hereby, jointly and se~•erall3~, appoint the Hulder the attorney in fact for ~
each of them, to c.laim a~ anc3 all homestead exemptions allo~z•ed by la~s. - ~ ~
A first mortgage for the security of the aforesaid indebtedn~ss is retained by OUTDOUR RESORTS OF
A~iERIGA, INC., on L~t \'0?61 Ilin that certain Condominium known as OUTUOOR RESORTS AT ~IE'1'TLES
f 1SLA\'D, and ~n any improvements, fixtures or after a~quirecl property added thereon, as shown by plat re-
~tir.'larl li thn ~ro t o(:; ~ti F f' ~=r~ • n t3 f^+- Ca T..~tp i'~.,--~~~ • Y?t_, r~__•_ ~ ~
1 t:~_ T 1. O.1_ 2.1 `I_ _ ..v..::.~~ :.~,ij ii: laAY uawn iv~ Yn}Sc t.its
throii~h 1J. . 0 R~~ PACE~IQB ~ :
~ - - - ` 800i( 7-i;~ _>3 t~~t~~' ~
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