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r $T. LUCIE COUNTY, flA:
5. It is understood by the -p9rt'iEiS't.()UIS"agreement that the ar~redescribed
property shall be sold and purchased subject to the restrictions and lii'li t-
ations cammon to the neighborhood subject to anr easements for public
utilities that may be of record or may become liens through pending legis-
lation before closing lo'hich may be dedicated &5 part of the plat of this
Subdi vision and subject to arry other easements, restrictions, encUlllbrances
and reservations of record, no,"' or hereafter granted by the Seller prior
to closing.
6. tJithin thirty (JO) days prior to the date that final pSyaent is due it
this'shall be an installment sale, or within dayB, from the
date of this contract, should it be _ a cash sale, the Seller will furnish
to the Buyer at the Seller's option:
A) An abstract of title prepared by a licensed abstract compal\Y
certified to the date of this contract or to a date within"
thirty (30) days of the last payment date, sho\o-inc- marketable
or ins~rable title t~ the Seller or:
B) If an ab~~ract sh~ll be delivered and Seller's title, upon
examination, shall be found not. to be marketable or insurable
the &lyer or his attorney shall so notify the 5eller in vriting
spccifyir.ci the defects, and the Seller shall have sixty (60)
days from the receipt of such notice to cure the defects so
specified. If the defects are not cured then all monies paid in
by the Buyer shall be returned to him on demand of the Buyer or
the Buyer may \-'aive the defects and accept the title in its then
condition.
1. The date of closing shall be on or before 5: OOP.M.
.
All time or installJnent sales; the date of closing shall be the date
of contract and monthly payments to begin thirty (30) days from that
date. Place of closing shall be Cove Realty & Investment Company,
3900 North Federal Highway, Pompano Beach, Florida or any local office
designated by the purchaser.
8. It is mutually agreed th;-t should the Buyer default in arry of the terms
or provisions of the agreement, the entire balance payable hereunder
shall then become due and irrmediately payable and the Seller may at its
option:
1) Bring action for specific performance of this agreement or
2) Declare t:1e payments JT1ade hereunder to date of the breach of this
agreern3nt l!.S the agreed liquidated danages, in which event this
agreem('n~ ~hall tenninate and Buyer's righte hereunder shall be fully
tennin<> +''10: and the Buyer shall have no interest in the property
whatsv~.~r, time being of the essence of this agreement.
9. The street in front of said lets is to be paved and water mains laid
accessible to a.!'d for t.he service of said lots at the expense of the
Subdi vider. No seavall shall be erected or constructed by any lot owner
except . pursuant to a cor.rnon plal'1 approved in writing by the CatIIlittee.
'!be Subdivider reserves the right and option, however, to construct a
seawsll along the lot lines on any , and/or all canals, lake fronts and
Intracoastal '"Taten-ay, and upon the COIIIpletion ot ~ such seawall, on
any canal the actual cost of such seawall shall be paid pro-rata by each
and ewry lot Oll"l1er bordering on said canal, and arry such seawall shall
cause a lien to arise and be created in favor of the Subdivider and against
each and every abutting lot owner for the fun _aunt chargeable to each
lot, and the aJlK:Nnt pp,yable by each abutting lot owner shall be due upon
tbe completion of such seawall. '
10. All monies l'9cei ved hereunder may be used by the Seller tor tbe develop-
.ant of CORAL COVE BEACH. ' '
11. The Buyer shall have no interest in the property being purchased until the
er..tlre purchase price 1s paid in run or until an exchange ot deed and
purchase JIlOney J:lortgage shall ha'Ye been affected, in the event a purcha8e
JIOrtgage is arranged tor, with the ~r.
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