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RTICLS OF ACREENENT
MAD6 this 13th day of Septemben a• D. 19 7~ betraeen
MAJOR EXCAVATIHC CdMPA1VY, INC., a Ftorida Corporation, party
of the firat part and RICNARD L. SPONG and DORIS L. SPOAG, htis wife,
part ies of the aeoond part, 205 Amy Lane, Fort Pierce, Ftorida
W I T N L~ S S S T E
TRAT if ths aaid part of ~hs eecond part ahatt first
~nak• thQ payn~ents and psrforen tht covenanta hereinafter mentioned,
on their part to ba n~ade and psrfornred, the aaid party of the
firat part hereby cova»ante and agrsae to convey and assure to the
aaid part of the 8eoond part, thsir heirs, executora, admini.s-
tra~ors or aesigna, in feQ simpZ~, ctear of aZt eneumbrances, by
tc good and auffieient DQed, tha Zot, piece or parcet af Zand, situ-
ated in the County of St. Luctis, State of FZorida, knoran and
described as fot tor~a:
• ~ Lot 3, Btock 3 Green Acres, Unit II Subdivistion
" t St. Luctie County, Ftorida
and ths aaid parties of the ascond part hereby covenant and agree
to pay to tha part~ of the firat~part the sum of Fifty Seven
Aundred d Ninety~ive S5795 1, ~ith interest from date at the
rate o f Eight ( 8~~l ~psx annum a8 fo Z Zor~s :
Four Aundred and Ninety-Nzne Doltars ~
(S 499. ) upon the signing
of this Agreement, the receipt rahereof is hereby ackno~tedged, and
the balanoe as foZZo~s: Fourty Nine Doltars and Ninety-Five Cents
tS 49.95 1 per month on
the first day of each n?onth thereafter, beginning October 1 ,
19 72 , untiZ the ~hoZe be futty paid.
Each instattment ahatt first be applied on the payment of interest ;
and then an the unpaid batance of the principal sum.
-'~Jn'-4ny instat l~nents ~hich are nbt paid u~ithin Sevena ( 7 1 days -
. from`~.due date, it is optional u~ith party of the first part to charge
par.t , s of the second part a Five DotZar !S 5. 00 1
'~`pdna~ charge on the Zate payment.
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,~Sa~c~ 'art y of the 8econd part hereby covenant and agree to pay att
tax"es, assessments or impositions that may be Zegatly Zevied or
imposed on said Zand 8ubaequent to the year 19 71. Second party
also agree to pau atl aosta, charges and expenses, Zar~yer's fees and
titte searchea, reasonabty incurred or paid by the first party
beeauae of the faiture of seeond part y to pron~ptty and fuZZy eomply
raith aZZ eondittiona and covenants in thtis Agreement. In the event
aecond party fail to pay, ruhen due, any tats8, assessments, or
other aums of money payable by virtue of this Agreement, first party
may pay aame r~ithout ~uctiving or affecting their option to foreelose
this Agreement, and att euch paymente shall bear interest from date
,_thereof at thQ highest rata then attomed by the La~us of the State of
Florida.
.
~ If any eum of money herein referred to be not promptZy paid
?~~t~~~ Thirty ( 30 ) days nett after the 8ame beeomes due, or if
• ,~ach and every one of the agreen~ents, etiputations, eonditions and
coaeltctnta of this Agreement are not fulty performed, complied mith
an~d.~~abided by, then the enttire unpaid hatance of this Agreement shatl
~_,;~.••farths~ith and thereafter, at the option of the first party, become
~~due and payabte and the estate hereby ereated in ascond party ,
ahall cease, terminate, and be nult and void. Furthermore, this
Agreement ehaZZ, at the option of the party of the first part, be
forfetited and terminat~d, and the part y of the second part ahaZZ
forfeit all paymenta n~ade by them on this Contraet; and such payments
ahatt be retained by the eaid party of the first part in futt
BOQK ~O~ PACf ~,21,J
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