HomeMy WebLinkAbout0051
iu~i 5 -' 51
~T. LUC!E COUNTY, rLA.
!lc Konsas-a, llene and other 8ncwmrancea ou the
p~pert1, when ,p8~lrl.d al defect. b7 tho Buyer, may b6 satlsfied
by the <Mner u~.ultaneou.11 wlth 4&111'6:"7 ot the.rarranty dee,d and
!.)ft11llmt or. the balanoe ot thf!l) pUl"Oh9.le pr\.o., ~ro'Ylded that propel"
.ati.fa~tion inltf~~nt. e=d t~e cost ~r recordlng the Lame a~e
.. .
th~n and there dellT~red to the Buyer.
12. Neither pub110 ut11ity easements on, 1'0. or under
.
n')t larger then tlye - toot strips along the rear or 1I1do boundary
lil'1ee ot the property nor unv101ated restriotloue or covenants
1~pos1ng no greater restriction of UAe than 18 1mpos~d by existing
go~ern~ental zoning ordinanoes and resolutlons shall be deemed
deteots 1'0. tltle, proY1ded, however, th&t any r1iht ot reverter or
oonditlon w1th r1ght ot re-entry tor brbdoh shall be doemed a
defect in title~
1). The 8uyer w1ll pay ...-~..._ ".,.~ the purohase pr1ce
tzrx on the closing date in the following manner:
(::I.) The cash sum equivalent to twenty per cent (200/0) of the
aggregate purchase price, as may be adjusted by closing prorations,
of which the binder s unl will be a part.
(b) Promissory noh. of Buyer in an amount equivalent to eighty
per cent (80) of the purchase price, payable to Q-wner, bearing interest
at the rate of five per cent (50/0) per annum, interest payable ac.nually;
the said principal sum being payable in ten (10) successive, equal,
:\nnual, installments beginning one (1) year after closing date, which
said promissory note may be orepayable by Buyer in whole br in part
!it any time after January 1, 1962.
14. The promissory note evidenceing the defel.red portion of the
purchase price as described in Sub-paragraph (b) of Paragraph 13, supra,
shall be secured by the purchase money mortgage of Buyer to Owner which
mortgage sha.ll be in 2 f(,rm customarily used in real estate transactions in
St. Lucie County, Flo:'ida, and shall further contain a provision wherel::y
-4-