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THIS INDEN'NRE, Made this Z~~y day nf ~J~~ ~ 19_(~L,
between GEi~~RAL DE'VELDPMENT CAR~"OIt~?TION, a~~orporatian existing under the
laws of the ~tate of Delaware~ having its principal pla~e of business at
2828 Coral Way~ Miami, Florida, and laWfully authorized to transact busi-
ness in the State of Florida, party of the first part, and J0~ YILLT~M
, pa rty of the second pa rt, whose mailing
; address is: gxs~cre~t. ~ Poe~ia Ciro e. I,sr ont~ H~ev
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~ WITNFSSE~i:
That the said pa rty of the first part, for and in ~onsideration of the
sum of TEN DOLIARS AND OTHER GOOD AND VALUABLE CONSIDEItATION to it in
hand paid by the said psrty of the second part, the receipt whereoE ia
hereby acknowledged~ has granted, bargained, sold and conveyed to the said
party of the second part~ h~~ heiss and aasigiis forever, the following
described land situate, lying and being in St. Lucie County, Florida, to-
wit:
Lot 13, Block 11, B~I~T OF POETIE~TS ~F 50UTH
'I . L.,,y P08T ST. LIICIg, UlfIT 2, sccordins to the Plat
I thereof sa r~corded in Plst Boot 12, st Ysge
~ 45 of the Publio 8ecorda of St. Lncis ConntT,
~ Florida?. ~
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J ~ SUBJEGT TO THE FOLUJWII3G:
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~ Q ~9.. Conditions, restrictions, reseivations ~ limitations
" ~ and easements appearing of record, if any; this
~ i i "=~d ~ ~
; ~ m reference, however, sha12 not operate to reimpose
' ~ ~ o=' • same.
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~(f~p~~~~~~~~~~~~~ Ad valorem real property taxes for the year 19 6~
~ and all subsequent years.
A1Nf10~ Zoning and regulatory ardinan~as of governmental
~ ~~~n~ ~js agen~ies having jurisdiction over the premises.
~ •
It is an express condition of this ~onveyance that the grantee herein shall
I commence construction of improvemen}s consisting of a single-family resi-
dence upon the subject premises within six (6) months froQ date hereof and
shall complete said improvements not later than six C6) months from date ot
~ cor.unencement of construction. If the grantee herein shall fail to commence
construction of said improvements within six C6) mont~:s from date heraof or
shall fail ta conplete such improvements within six (6) months £rom date
of commencement o£ construction, the grantor herein reserves the privilene
and aption to repurchase the subject premises for the sum of S 4933•~
, The parties hereto expressly agree that this condition shall Ue construed
~ . as a covenant running with the land. Provided, however, and notwithstanding
the option provision hereinabove recited, if no conveyance appears of record
~ ~ from the grantee herein to the grantor herpin within eighteen <18) manths
fr~m date hereof, said option provision shall be deemed ~.o be void and of no
~ further £orce o r effect, and the condition running with the land herein-
above set fo rth shall be deemed cancelled and held for naught; and all bona
fide purchasers for value, which term shall include mo rt;~agees, lessees, de-
visees or grantee~, their heirs, personal representatives,~ succ~ssors and
assigns, and all pa rties claiming by, through or under such persons, may
thereafter acquire any or all of the interest in the subject premises sub-
sequent thereta free of said option and restricti.on.
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