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$10,000.00 to apply on the Furchase price of $6C,OOQ.00. i
Upon receipt of the aforesaid $10,000.00 the Lessors attorney
shall £orwith within 3!1 days procure a warranty deed in the ~
customary form and surrender it to the Lessee upon receipt from ~
the Lessee of a first n~ortgage in the amount ~of $-~'?~,oooe= }
;
securing a note for said amount with interest at per annum n~
the unpaid balance. This purchase money mortgage shaZl be payabl i
in five (S) annual installments Of .$lO~DDD ~ plus accrued '
interest on the unpaid balance at the rate of _~X per ennum.
The terms of said note and mortgage sha11 be acceptaSle to the
attorney for the Lessor. All costs of this loan shall be paid
by the Lessee in an amount~not Co exceed what First Federal Savin s~
& Loan Association of Fort Pierce charges for a s~milar loan. ~
14. It is agreed between the parties hereto that time t
is of the essence of this contract and that this lease shall
be binding upon all parties hereto, their heirs, stfct~+essors and
assigns.
IN WITN ,9S WHEREOF, the said parties hereto have signed
and se le th e' sents the day and year first above written.
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ATTEST TO ELEGTRA-TRONICS, INC. ;
; g Florida corporation.
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