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HomeMy WebLinkAbout0849 ~ ~ (b) Three Thousand Five Hundred Ninety and 90/100 ~ ($3,590.90) Dollars, on the £irst day of September, 1970, together j he ~ with interest at the rate of six (68) percent per annum on t ~ _ balance due on the contract immediately prior to making such ~ ~ ~ principal payment; ~ , (c) Three Thousand Five Hundred Ninety and 90/100 ~ f ($3,590.90) Dollars, on the first day of September of each ~ t succeeding calendar year, together with interest at the rate of } six (6$) percent per annum on the balance due on the contract ~ immediately prior to making such principal payment, until the ~ contract balance has been paid in full. : The party of the second part shall be liable for all real property f : . ; taxes and assessments by governmental autfiorities from and ~ i after the date of this Agreement, and shall promptly pay such ~ taxes and assessments. Failure to pay such taxes and assessments before same become delinquent shall constitute a default under this Agreement. ~ ~ 3. Concurrently herewith party of the first part ~ ~ has deposited a duly executed Warranty Deed with-COMMERCIAL BANR ~ s 'E AT DAYTONA BEACH, Daytona Beach, Florida, under an Escrow Agree- ~ ~ ~ ment vrhich provides for delivery of said Warranty Deed to party ~ ~ i of the secon~art upon completion of the payments hereinabove ~ i ~ ~ provided and fulfillment of all covenants herein contained. ~ ~ - ; ~ 4. Party of the second part recognizes that the property i ~ ? ~ i,s presently encumbered by a mortgage to Prudential Life Insurance ? ~ Company. Party of the first part shall apply the payments under ~ ~ } ~ this Agreement, as hereinabove provided for in Paragraph 2, to the ~ ~ ~ extent necessary, to pay the installments due under said mortgage ~ ~ to the end that the property shall be free and clear of said ~ ~ __mortgage at the time party of the second part has completed his - : - payments under this Agreement. ; ~ - YY 5. The ro~e~ covered by this Agreement is presently 5 . yp x ~ planted with trees. During the term of this~g~ent ~ ~ party of the second part shall maintain the `~~w' grove on the ~ ] ' ~ " property in good condition in accordance with recognized good ~ ~ ~ ~ practices in the citrus industry, and shall provide, among other ~ ~ ~ ~ ~ ~ - -2- , t;~= ~ " _ 4 _~i _ _ _ k.. _ r _ .t. _ ~ 13 . ~ .