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THIS AGRE~HT made on this the 'rd day of July, A. D.
1961, between the EAST COAST GROCERY COMPANY, 8 Florida corpo~
ation, Party of the first part; and the CITY 0' lORT PIERCE,
municipal corporation under the laws of the State of Florida,
party of the seoond part;
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WITNESSETH, that if the said party of the second part
ahall first make the payments and perform the covenants here1~
_ after mentioned on its part to be made and performed, the said
party of the first part hereby oovenants and agrees to oonvey
and assure to the said party of the second part, its auccesaor~
and assigns, in fee eimple, olear of all incumbrances whatever
by a good and sufficient deed, -the parcel of land situated in
the County ot St. Lucie, State of Florida known and described
as follows, to-wits
All of Block 1 at RIVERSIDE ADDITION, as per
plat thereof recorded in Plat Book 3, Page 51
of the publio reoords of St. Lucie County,
Florida, inoluding all riparian rig~a and
any right, title or interest of the grantors
in and to the Street lmown as Orange Avenue
adjaoent to said Block 1 of 8aid RIVERSIDE
ADDITION.
EXCEPTING THEREFROM that oertain property set
out and being aore partioularly described in
Deed Book 247 at >>age 61 of the public records
of St. Lucie County, Florida.
AND l'URTHER EXCEPTING THEREFROM that certain
property set out and being more particularly
deloribed in Deed Book 221 at page 377 of the
publio reoords of St. Lucie County, Plorida.
and the said party ot the aeoond part hereby oovenants and
agre~8 to pay to the Baid part,y of the first part the sum of
EIGHTY SEVEN THOUSABD PlVE HURDllED AND NO/100 ($87 500.00)
DOLLARS, in the tollowinl manner, to-wit: 17,500.06 thia date
paid, rec~1pt ot which 18 hereby acknowledged and the balance
of $80,000.00 together with interest at the rate of 5~ per
annum on the unpaid balanoe from date unt1l the pr1ncip~l and
intereat have been paid in full, payable as follows, to-wit:
'10,000.00 P87&ble on the 'rd day of Ju17, A. D.
1974 and 110,000.00 pqable on the ,rd day ot
July of each aucce.ding year thereatter until
the said 180,000.00 shall have baell "paid in full.
Intereat :trOll tate at the rate ot 5' per annum
on t~ unpaid balanoe parable a. tollo..&
'1,000.00 intereat parable quarter oo..eQotna
on the 'rd 4q ot Ootober, 196 i with a like au
ot 1nt.~'e.t ot '1,000.00 e.el"1 thre. aontha there-
atter unt~l July 'rd, 1974 at whioh t1ae in addition
to the qu.arter intereat 'afMnt, prinoipal pa;raenta
.tart aa reoi teA herein. Inten.t Pl.Jlluts at the
rate ot 5" ~r annUlI 011 tbe Wlpa14 balance aball
oOAtlnue belnc pQ'able quarter17 tAer.atter util
auoh ti_ u the ent1re unpai4 >>r1noipal and
intenat bave, been pai4 1D tulle .olle ot tM e1sbt7
atenet Pa;rMllt. nor .., of the ten prinoipal
p.,..ata oaa be p~pa14 without tba wr1tten oonsent
ot all parUe. hereto.