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'. sr. l~c:r COUNTr, rtA.
11. JIortcal-... l1e. lP.!i ot~.l' .DOuabr~J1.O.. on the
propert,. when .~8oified a. d6t.~t. bl the BU76r. aa1 b~ .atistied
by the Own8r Bi.~ltaneou.11 with del~~.rJ of the wa~renty dee1 and
pa,.ent ot the bf!llanoe of the purohae. pries, proy-lde4 that proper
.atisfaction lns~~lMentl ~ the oost of_recording the lame are
.to
then 2nd there de11T~~ to the Buyor.
12. N~lther public ut111t~ easemente ~n, \n or under
.
not lRrger than flye - foot strlps along the rear or slde ~ouhdarJ
lines ot the propert, norwu~101ated restriotions or covenants
1mposing no greater. restrict10n of use than 1p. 1mposed by existing
governmental zoning ordinances and resolutions shall be deemed
deteotl in t1tle. proY1ded. however, that any right of reverter or
condition w1th r1ght of re-entr,y tor breach shall be dee~d a
deteot 1n t1tle.
13. The BU7er w111 P81 ~lai-~U thepurohase pr1ce
~ on +.he closing date in the following manner:
(a) The cast~ sum equivalent to twenty-five per cent (25%) of the
aggregate purchase price, as may be adjusted by closing prorations,
of which the binder sum will be a part.
(oJ) Promissory note of Buyer 10 an amuunt t:\iuiva.leilt tv seventy=
five per cent (750/0) of the purchase price. payable to Owner, bearing
interest at the rate of five per cent (5%) per ann,lm, interest payable
annually; the said principal sum being payable in ten (10) SuccE:ssi'...e,
equal, annual. installments beginning one (1) year after closing date,
which said promissory note may be prepayable by Bllyer in whole or
in part at any time after January 1, 1962.
14. The promissory note evidencing the deferred portion of the
purchase price as described in Sub-paragraph (b) of Paragraph 13, supra,
shall be secuI'ed by the purchase money mortgage of Buyer to Owner which
mortgage shall ~e in a form custom';l.rily used in real estate tr~nsactions in
81. Lucie Co~nty, Flocida. and shaU further contain a provision whereby
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