HomeMy WebLinkAbout1504 1866~~ '
AGRh'~IHdT FOR D~D. - ;
i
ARTICLffi OF AGREFMI~iT~made this ~of December in the year of our ~
Lcrd One Thousand nine hundred s3.aty nine~bet~reen Kel~r Construction
Compar~y ~a Florida Corporation~party of the firat part and Betty Jeanne ~
King,a single ac~.ilt~of 903 Citrus Aveuue ~Fort Pierce~Florida party ;
of the Second Part.
WITNSSSETHtThat of the said Party of the second part shall first m~ce
the p~yments and perfo~na the covenants hereinafter mentioned on their .
part to be made and performed,the said pRrty of the first ~rt hereby
covena~s arxi agrees to conv~r and and assure the said party of the
second part~their heirs~executors~ac~ninstrators or assigns~in fee
simple~clear of all encwuberances xhatever~except as hereinafter set ~
out~ by a good and sufficieat Warranty deed~the lot~piece of parcel {
of land situate in the County of St.Lucie~Florida lmo~m and described s
as follot~rs~to-xit: ~
Lot 80 of Park~y P1ace~ as per plat thereof on file plat book lt~page 7~
of the Public records of Saint Lucie County~Florida. ~
And~the said part~y of the second part hereby covenants and agrees to pa~r
to the said party of the First part the swn of Nine thousand nine hundred
Dollars ($9~900.00) xith a do~m p~ymeat of One thousand dollars ($1~000.00)
in the manner folla~ing.
A-0ne Hunds~ed dollars ($100.00) per month beginning on the l~th.da~r of
Januarsr 1970 and continuing each nanth for the next !~8 months,and on ~
January 1t~1974 the flxll. amount will becarne due and p~yable.
B-Monthly pa~yments~as herein~after set out in (A) shall include pr3n-
cipal and interest on the unpaid balance at the rate of ~ per-~annum.
Sach installment sha11 first be applied in payment of interest and the~ -
on the unpaid balance of the principal sum. 1~ penalty of 5~ ~rill be
charged on ar~y pa~yme~ts after 5 d~ys due.
It is COVH~IANTED AND UNDEHS'TOOD~as par~t of the consideration hereof
as follows. .
1-That there is e~dsting a first mortgage to First Federal Savings &
Loan qssociation of Fort Pierce~Florida with a balamce of appro~dmate]y
F~ve thousand dollars ($5~Q00.00)as t~he same is recorded in the St.
I.ucie County~Florida public records.
; 2. That the party of the first part chall contirrue to make all of the
; ,~;,~~,~`i~~~~~~~;; ~ monthly p~nents of principal and interest xhich ma~r become due and
~ o~ pa~yable under the said mortgage deed under this agreement for deedt
i Provided;hoxever~the party of the second part hereby reserves the right
v~~ N to at time before Janu lt 1974 to
~ ~ I _ ~RY a?r'Y ~ pa~y to the party of the f`ix~st
part the cash differe~ce between the e~d,sting mortgage the balance due
!~>>*f~ 6 and owin vnder this po paymeat of the aforesaid
,:..f.: g agreement for -deed. U n
-~~r~.,~.I ~ cash difference ~the party of the second ~rt~shall be entitled to re-
~'~N~ II ceive a Warranty deed~from the party of the first part~xhi.ch said War••
~~v ~ ranty deed~ sha]1 contain a standard mortgage assumption clause where-
~ ~ ~ by the party of the second part assumes the e~dsting mortgage balance
_U o ~ ~
W~ P under the said mortgage. The p~rty of the Second part shall also have fl~ll
~ :no1(u~luill~a ~ght of pre~~aeat in ~ole or in part sub3ect orily to an`y conditions
as ma~y be set out in the said mortgage deed.
~ 3. In the event that it should become necessary to institute legal pro.• ~
AlNf10~ ceedings to foreclose or other~rise enforce this contract~the party of ~
3i~tll'iS the second part hereby agrees to pay all costs of such action~including
. a reasonable Attorney's fee.
~ It.The party of the second part also covenants and agreesrto keep~the
~ pre.~nises insured to the flill extent of the mort e r
gag ~r?aining unpaid
~ hereunder~also to p~y all Cou~nty and other real estate taxes on said
P~P~Y•
= 5•To Permit~Con~nit or suffer ar~y xaiste~impairnient or detoration of
~ said property or ar~r part thereoP;
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