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E?p,ivo~~~ ARTICLE OF ACREEMENT ~8
~
MAD~ this 3rd day of November , A.D. 19~Z, bet~aen '
MAJOR EXCAVATING COMPAIVY, IAC., a Ftor~ Corporattiore, party ~
of the ftirst part and Vernon w. Smith Mary 8. Smtith, his r~i fe ~
part ies of the aQCOnd part,
W I T H E S S S T 8
TNAT if the said part iesof tha second part ahatt first
maks the paymenta and perforn~ th~ covanants hereinafter mentioned,
on their part to ba mads and p~rfor~nQd, the said party of ths
firet part hsreby covenanta arcd agrsae to convey and asaure to the
satid partY.es of the eecond part, thair heirs, executor8, adminis-
trators or as~igns, in fes sin~pts, cZsar of alt encu~nbrances, by
a gooci and sufficient Deed, the Zot, piece or parcel of Zand, situ-
ated in the County of St. Lucie, State of Ftorzda, knorun and
described as foZto~s:
; Lot Z, Btock Z, Greenacres Unit II S/D
St. Lucie County, FZorida
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~ and the 8aid parties of the sscond part hereby covenant and agree
~ to pay to the party of the ~irst part the aum of fifty-four hundred
= ninety-five doZtars($ 5495.00, t~ith interest from date at the
= rate of eight f 8~) per annuin as fotto~a: three hundred
- and ninety-nine doltars (S399.00 1 upon the signing
of this Agreement, the receipt ~hereof is hereby ackno~rledged, and
the balance as foltor~s: forty-nine dcttars und ninety-five cents
~
(S 49.95 I per month on
the first day of each month thsreafter, beginning December Z ,
1971 , untit the ~hote be futty paid.
_ Each instaltfient ehaZZ firet be ap~lied on the payment of interest
- and then on the unpaid balance of the principat sum.
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- On any instatlment8 r~hich are ttot p~zid ~ithin seven ( 7) days
: ;rom due date, it is optional ~ith partu o; the first part to charge
~art ies o~ the second part a five dotlars (S 5.00 )
' ~enalty charoe on the Late pay~nent.
- Said part ies of the second part hereby covenant and agree to pay atl
taxes, assessments or i?npositions that may be Zsgat ty Zevied or
= in.rpoeed on said Zand subeequent to the year 19 ?1. Second parties
`tF atso agree to pau alt coat8, charges and er~enses, Za~yer'a fees and
titte searcnes, reasonabty incurred or paid by the first party
- becauae of the faiZure of sacond parties to proMptZy and fuZty comply
` r~ith aZZ condtittione and covsnanta in this Agrsement. In the event
= second partLea fait to pay, r~hsn dua, any tas~e, assessments, or
other sums of mo»ey pa~abte by virtus of this Agreement, fir8t party
may pay same ~ithout ~aiving or affscting their option to forectoae
this Agreement, and att such payments ahalt bear intereat from date _
_ thereof at the highest rata then allo~ed by the Lar~a of the State of ~
= Ftori~a.
If any sum of money herein refarrsd to be not promptly paid
~ithin airty (80 ) days next after the aame becomes due, or if
` each and every one of the agrean~ertt8, stiputationa, conditions and
covenants of this Agreemsnt are not futly performed, compltied ~ith
= and absded by, then the entire unpaid batance of this Agreement shatt
~ forth~ith and thereafter, at the option of the firat part~, beco?ne
due and payabte and the esta~s hsraby created in aecond parties ,
shatt cease, terminate, and be nutt and voi.d. Furthermore, this
Agresment eh~cZZ, at tha opttion of th~ party of the firat part, be
_ forfeited and terminat~d, and ths parti~a of the 8econd part ahatl
forfeit at1 paymenta made by than~ on this Contract; and auch payments
- shall be rstained by the said party of the firet part in futt
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