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ARTICLB.S OF AGREffi~lBNT Page 2. ,
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Furthermore, if payments are not recefved by
the 7th of the month when due, a penalty charge
of $6.20 will be made. In addition, if payments
are not received by the 15th of the month when
due, interest at the highest legal rate sha11 be
computed from the date of the last payment made
by Second Parties through the date the arrearage
is rectified. '
1'he monthly payment of $124.00 is computed upon the
following premise: Principal and interest $109.00; homeowners
insurance policy $4.50 per month based on annual premium of
$54.00; taxes, based on $108.00 per year, $g.00 per month;
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and $1.50 for termite policy. . ~
First Parties agree to utilize so much of the $124.00
monthly payments as is necessary to pay the real estate taxes,
insurance premium and drainage tax due thereon each year.
First Parties will give Second P~?=ties an annual state-
ment no later than February 15 of each year, showing the
amount credited to principal, interest, taxes and insurance
from payment made during the previous calendar year by Second E
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Parties.
~ Second Parties agree to pay all costs conneeted with
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~ the recording of this agreement, which is to be recorded no
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later than Dec~aber 31, 1970, in order for Second Parties to be
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~ 'entitled to receive hanestead ex~nption in the coming year, to
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~ keep the real ~state taxes to a minimum.
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~ Second Parties agree to pay when due all assessments
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~ which may be imposed against the property for any type of im-
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~ provements made by any public body which result in an asses,s~eent
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~ being iunposed against the property.
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q Second Parties have the option to transfer this contract ~
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2 to any other party with or without consent of First Parties.
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~ ~~w o~,~E~ ~~x ~84 P,~2873 ~
rc WILLES, BiTTAN Q GRIFFIN
' P. O. BOX s0Y
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- FORT P16RCQ, PLORIDA 3D40p
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