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5 It is understood by the par~~e:1 ~~ ~~j-ent that the afor~edeacribsd
property shall be sold and purchased aubfect to the restrictions and limit-
ations ccawon to the neighborhood subject to atg- easements for public
utilities that may bs of record or may become liens through pending legis-
lation before closing which may be dedicated as part of the plat of thin
Subdivision and subject to atq- other easements, restrictions, encusbrancea
and reservations of record, now or hereafter granted by the Seller prior
to closing.
6. Within thirty (30) days prior to the date that final paprment is due if
this shall be an installment sale, or Within days, from the
date of this contract, should it be .a Dash a e, e e er `rill furnish
to the Buyer at the Seller's option:
A) An abstract of title prepared by a licensed abstract compatp
certified to the date of this contract or to a date Within
thirty (30) days of the last payment date, ahoti~it>g marketable
or insurable title to the Seller or:
B) If an abstract shall be delivered and Seller's title, upon
examination, shall be found not to be marketable or insurable
the Buyer or his attorney shall so notify the Seller in writing
apecilying the defects,-and the Seller shall have sixty (60)
days Pram the receipt of such notice to cure the defects ao
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 waive the defects and accept the title in its then
condition.
7. The date of closing shall be on or before S:OOP.M.
All time or installment sales; the date of closin 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 atgt local office
designated by the purchaser.
8. It is mutual]y agreed thpt should the Buyer defaaalt in ate of the terms
or provisions of the agreement, the entire balance payable hereunder
shall then become due and Lonediately payable and the Seller may at its
option:
1) Bring action for specific performance of this agreement or
2) Declare the payments made hereunder to date of the breach of thin
3 agreement as the agreed liquidated datoagea, in Which event this
agreement shall terminate and Buyer'e rights hereunder shall be frilly
tenninatsd, and the Buyer shall have no interest in the property
whatsoever, time being of the essence of thin agi~eement.
9. The street in front of said lots is to be paved and Water mains laid
accessible to and for the service of said lots at the expense of the
Subdivider. No seawall shall bs erected or conatru~cted by atp- lot owner
except pursuant to a conmon plan approved in Writing by the Covatiittee.
The Subdivider reserves the right and option, ho~rever, to construct a
seawall along the lot lines on any, and/or all canals, lake fronts and
Intracoastal Watertv~, and upon the cc~epletion of at~- such seawall, on
arty canal the actual coat of such seawall shall be paid pro-rata b7 each
and every lot owner bordering on said canal, std anp~ such seawall shall
cause a lien to arise std be created in favor of the Subdivider and against
each and every abutting lot owner for the full a>aount chargeable to eaa6
lot, and the aaio~nnt paarable by each abutting lot owner shall be due npm
the completion of such seawall.
10. -All aaotdss received hearetander maq- bs need by the Seller for the develop-
aaent of CORAL 0018 BEACH.
11. 1'he Buyer shall have no interest in the property being purchased until the
eatirs purchase price is paid in bill car until sat e~ochangs of deed sad
porahase aonelraaoartgage shall hate been sttected, in the e~-snt a purabase
aaortgage is arranged for, with the B-yrear.
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