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(c) In the event that such reconveyance occurs prior
to the full payment and satisfaction of the purchase
money mortqaqe in tlie amount of $89,000.00 beinq executed
this date by GEN~RAL~in favor of SHARRETT and encumber-
inq the property which is the subject of this agreement,
SHARRSTT agreee to satisfy said mortqage, returninq the ~
oriqinal note and mortqage and executing a valid record- ~
able satisfaction of said mortgage and delivering same
to G~NERAL.
In the event that this option aqreement is recorded amonq the pub-
lic records of St. Lucie County, Florida, third parties dealinq
with the record title to the property hereinabove described shall
be entitled to rely on the fact that any and all riqhts in favor
of SHAI3RETT created under this agreement shall have expired and
cease to be o~ any further force or effect as of April lst, 1973
unless there shall have been recorded amonq the public records of
St. Lucie County, Florida, a deed of reconveyance by GENERAL to
SHARRETT prior to-that time. ~
;
SHARRETT has this date made, executed and delivered to St. Lucie 4
Abstract & Title Insurance Co., a Florida corporation of Ft. Pierce, !
Florida, as escrow aqent, a quitclaim deed in favor af GENERAL dis-
clai.ming any and all right, title and interest in and to the above
described property, and said escrow agent shall be authorized and
is hereby directed to record said quitclaua deed among the public
records of St. Lucie County, Florida, upon request of GENERAL upon
being furnished with evidence that GENERAL has paid in full that
certain mortgage dated June lst, 1970, recorded in O. R. Book 184
Page 2693 of the Public Records of St. Lucie County, Florida. Said
escrow agent has indicated its acceptance of the foregoing by af-
fixing its signature hereto. - i
This agreement is binding upon the heirs, successors and assigns of
the respective parties hereto.
IN WITNESS WHEREOF the parties have hereunto set their respective
hands and seals as of June lst, 1970.
' - x p~ tSEAL)
~ Witnesses as to Ralph L.~ H. SHARRETT {
~Sharrett and Janet R.
~ Sharrett _ n• ~
~SEAL) '
' J T R. SHARRETT ~
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