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<;T. LUCiE crll~nY\ FLA.
14. In the event that the Purchaser notifies the Seller
that he shall meet the terms of the proposed sale and fails to
complete the proposed sale or exercises his option and makes the
I down payment hereinabove mentioned and then fai13 to complete :
the transaction provided for in this Article II, any of the afore- i
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said down payments shall be retained by the Seller as liquidated I
damages for such default and the Purchaser shall have no further
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interest in the property, in which case the Purch~ser shall exe-
cute, acknowledge and deliver all instruments necessary to effect
a discharge and satisfaction of record of the property involved_
under the terms of this agreement, and if Purchaser shall fail
and refuae to do so upon demand, the Purchaser hereby irrevocably i
constitutes and appoints the Seller its attorney-in-fact to exe- I
cute, acknowledge, deliver and record any and all such instruments!
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for and on Purchaser's behalf and such appointment is hereby !
declared to be coupled with an interest.
ARTICLE III
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be binding and inure to the benefit of the parties, their heirs, II
successors and assigns. All, or any parts, of the rights created
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(a) Assignee shall assume all of the terms, covenants, I
warranties and representations made by the Purchaser to the Seller I
PARTIES
The rights and obligations created by this agreement shall
hereunder in favor of Purchaser may be assigned by Purchaser at
any time to any person, firm or corporation upon the following
conditions:
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as contained in this agreement.
(b) Such assignment shall not relieve the Assignor
of any of his obligations hereunder.
(c) A dup11c~te original of said assignment and
assumption agreement, duly execut~d and acknowledged, shall be
de11vered to the Seller in ~erson or by Regietered Mail, and shall
take effect only upon approval of the Seller or if the Seller
fa1ls to take any act10n w1thin fifteen (15) days after receipt by
1t of such ass1gnment.
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