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Home My WebLink About0789 to 3eller ie tbe sum oi $3Z8,000.00, payable ae iollows: cash depoeit upon execution oi tbie Agreement in the amouat oP $10,000.00 noar held in escrow by N. B. Tilton Real Satate and Insurance, Inc. as broker in this traueaction, receipt being hereby acknowledged, a further sum of $30,000.00 to be paid oa closing. Tbe remaining R~ro Hundred Bigbty-five Thousand (~285,000.00) Dollars of the purchase price, plus interest thereon, shall be payable as followe; $6,000.00 intereat shall be payable at closing; $5,700.00 interest sball be pay- able tbree months after closing; $5,700.00 intereet eball be payable sia montbs after cloaing; g4,926.00 interest shall be payable nine months after closing; and thereafter, further interest shall commence to accrue commencing one year from closing and ehall be payable two years from closing and annually thereafter at the rate of eigbt per cent (8~,) per annum on the unpaid principal balance; provided further, if any principal payments are made on said sum of $285,000.00 during the first year following cloeing.the obligation to pay interest as aforesaid during the first year shall be reduced prorata. The principal sum shall be payable in annual ~ installments of $57,000.00 commencing ten years from closing f ~ and payable annually thereafter. ~ (1) Interest only in quarterly installments for the a ~ € ~ first year and thereafter annually may be paid for a period ~ , of ten (10) consecutive years after th e date of tbis Agree- ~ ment. The mak~ers shall have the right to prepay interest at ~ any time during any year (including the year of closing), and shall bave a ten day delay clause in such payment. ~ (2) Seller agrees to convey to Purchaser the ~ ~ above described land in widths of not less than I00 feet ae ~ measured from North to 3outh along A-1-A beginning at the ~ ~ ~ Northerly boundary and contiguous ly thereafter and running ~ fram A-1-A to the waters of the Atlantic Ocean, unencumbered ~ by the mortgage to Philip Neiner as Trustee, upon payment ~ 0 ~ ~89 ~ .787 ~ . - - : _ .ti~ ~.~~.r~n s:-~.. _ ~ v_~,~r°~.~