HomeMy WebLinkAbout2591 OPTION TO PUfiC:HASE - Paqe 2.
option to purchase, First Parties shall have a complete
Abstract of Title to said property delivered to B. A. Bittan,
Jr. , Attorney for Second Party, for examination. WYthin
thirty (30) days after receipt of a complete Abstract of
Title, should said title be found marketable, Second Party
shall tender to First Parties, in exchange for a Warranty
Deed executed by First Parties, thirty percent (3096) of the
contract price along with a note and mortgage for the bal-
ance payable in five (5), successive, equal, annual instal~-
ments plus six percent (69G) interest, payable annually.
The contract price shall be arrived at by a written
appraisal performed by a member of the Appraiser's Institute,
which appraisal shall be paid for by Second Party and which
appraisal shall be the value of the above property as of the
date of delivery of the abstract tv Secand Party's attorney
for examination.
Second Party shall aZso have the option to pay the
contract price in cash, shouZd it so desire.
Should any mortgaqes exist against the property at
the time of the exercise of the option to purchase created
hereby, First Parties aqree to credit Second Party with the
amount of said nwrtgage to the end that the mortgage qiven
by Second Party to First Parties will be a second mortgaqe
and will be.reduced by the amount of the existing first
mortgage.
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This Agreement shall bind and benefit the parties
hereto, their respective heirs, executors, administrators,
u?w otnc~s
WILLES„ DITYAN A GRIF'fil~i .
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- IORT *1[RCt. PLOIlIDA iiYp
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