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ayments, and the remainder shat! hA applied to the reduction of the principal
f said indebtedness.
'4. Said monthly payment of X65. Q~ shall be payable at First Federal
savings and Loan 1~Saociation of Indian River County, Vero E3e~ch, Florida.
'~irchaser shall have full right of prepayment of any time, without penalty.
feller acknowledges there ie a mortgage to said First Federal SavinZ;s and
Loan Association of Indian River County, and Seller covenants and agrees
to pay said mortgage.
5. The Purchaser shall have the right to make additional payments.
6. The Seller shall pay ail taxes and assessments whatsoever
imposed upon the said premises that may he due and payable for the year
1961 and all prior years. The Purchaser shall pay all oti~er tax~~s and
assessments whatsoever imposed upon the said premises that may become
due and payable; and, if not fully paid, the Seller, may at t~~eir option, pay
the same, with interest and charges, if any, and the same shall there upon
become a part of, and be added to, the purchase price herein, and shall
be due and payable with the installment of purchase price next falling due.
7. If the Purchaser shall fail to meet any of the said payments, or
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any part thereof, or shall otherwise fail to keep, observe and per orm an
of said conditions or covenants hereof, this contract, at the option of the
Seller, shall cease and be of no further effect and shall be terminated; and
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thereupon. all payments made under this contract shall be retained by the
Seller as liquidated damages; provided, however, that nothing herein
contained shall be deemed or construed to prevent the Seller from enforcing
specific performance on this agreement in the event of default on the part
of Purchaser. If default is made by the Furchaser as aforesaid, the Seller
may elect without notice that the entire balance of p,-incipal and interest
thereon shall become due and payable forthwith.
8. The Purchaser shall have the right forthwith to enter in and upon
the said premises and take possession with the same force and effect as if
a warranty deed to said premises had been duly made, exe4uted and
delivered by the Seller to the Purchaser as provided herein.
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Nectb, Smith 6 Hetriay, pttotceyt At I,aw, Vero ~ea^h, Fiesida