HomeMy WebLinkAbout1604 the parties of the second part have paid
in full said existing mortqaqe to the First
Federal Savings & Loan Association of Fort -
Pierce, Fort Pierce, Florida. Upon full
payment of said mortgage, the party of the
firat part will convey the above premises
to the parties of the second part by a good
and sufficient warranty deed of conveyance.
2. The parties of the second part, upon receipt
of such good and sufficient warranty deed of
~conveyance will immediately execute and de-
liver to the party of the first part, a mort-
gage deed~in the amount of Seven Thousand
One Hundred Thirty-one ar~d 14/100 Dollars
($?,131.14), to be payable at the rate of
Sixty-five and no/100 Dollars ($65.00) per
month, with interest at the rate of eight
percent (896) per annum until paid, or such
rate of interest as shall be agreed upon be-
tween the respective parties hereto.
~3. The parties of the second part reserve the
right to apply for and obtain a mortgage upon
said premises through any financial. institu-
tion and any such financinq will be designed
. to effect an early payment to the party~of
the first part for his equity. Any or all
of the payments herein provided to be made by
the parties of the second part may be made
without penalty at any time.
4. The party of the first part covenants and agrees
~ to pay and satisfy the monthly installments ac-
cruing under the above-described•mortgage upon
' the premises and not to suffer the same to stand
~ in default. If for any reason, the party of
~
; the first~part should not so pay and satisfy
~ said monthly instalLnents and let any or all of
~ them stand in default, then the parties of the
~ .
~ second part reserve the right to pay the same
and shall receive credit from the party of the
{ first part for said payments upon that month _
~ or months installment or installments due under
the terms of this Agreement to the first party.
The parties of the second part further agree to pay all
taxes, assessments, or impositions that may be legally levied or im-
posed upon said land subsequent to the year 1969 and to keep ti~e build-
e
ings upon said premises insured in sane company satisfactory to the
~
~ party of the first part ia a sum not less than $10,000.00 during the
~
term of this Agreement. And in case of failure of the said parties
of the seoond part to make either of the payments or any part there-
of, or to perform any of the covenants on their part hereby made and
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