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HomeMy WebLinkAbout0892 Buyer by Warranty Deed, free and clear of all liens and encumbrances, and Buyer has paid to Sellers the sum of ~135, 000. 00 cash which is the agreed full purchase price for such lands. Sellers agree, and it is mut- ually understood, that ~100, 000. 00 of such purchase price is being held by them in trust for the express purpose of paying all of the same over . to said Marcel Mauron so that the said Partial Release being held in es- crow by Sellers' attorney, as aforesaid, might be recorded in the Publ~c Records of St. Lucie County, Florida. Sellers shall, within 35 days fro the date of this Agreement, pay over to said Marcel Mauron the said sum of ~100, 000. 00 and shall record said Partial Release of mortgage in the - Public Records of St. Lucie Courn~r, Florida. Should Sellers not pay over said ~100, 000, 00 to Marcel Mauron and record said Partial release within ~ 35 days, then this Agreement shall act as a mortgage from Sellers ~ Buyer encumbering all of Sellers' remaining lands lying both South of the 1~urnpike Feeder Road and North of the lands conveyed to Buyer, securing an . indebtedness of $100, 000. 00 from Sellers to Buyer bearing irnerest at 9J per annum from the 36th day after date of this Agreement, and Buy~er may without notice or demand foreclose the same. Buyer would be en- titled ro recover in such foreclosure all court costs and reasonable attor- ney's fees. Sellers shall not, prior tio the recording of said Partial Re- ~ lease, deed, convey, contract to sell, mortgage, pledge, hypothecate a~r ~ ~ otherwise dispose of or encumber any of the lands presently encumbered by said mortgage tio Marcel Mauron. The reoording of said Partial Re- lease shall automatically end all Sellers' obligations set forth in this Para graph without the necessity of obtaining or recording any Release or othe document from Buyer, unless any foreclosure action has been commenced by Buyer under the provisions above. 3. It is a specific condition of this transaction that Buyer is ~ ~ " to furnish Sellers a means of ingress and egress to the Sellers remaining ~ lands lying Northerly of the lands conveyed to Buyer. In this regard, ; Buyer agrees that it shall either dedicate a road to the public or grant a permanent easement unto Sellers and their heirs, grantees and assigns ROYCE R. LEWIS ATTORMEY AT LAr i ss wun~ ~[coro m~ctr R~~...~ -3- roAr nc~cc. naeio~ 0 R ~ aoo~ 188 p~~E g~ , £ ` ~ ~ ~ ' _ Y ts ~h+;AF ; ~-~`y* ~ _ .