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ARTICLE OF ACREEMENT
MADE this 7th day of August , A. D. 19 ~2, bet~een
MAJOR ~XCAVATINC COMPANY, INC. , a Ftorida Corporation, party
of the first part and EULII~ G. McCRAY & BSTTY JSAN McCRAY, his ~aife
parties of the aecond part,
~ W I T N E S S E T E
THAT if the said parties of the second part ahalt first
n~akt the payment8 and perform the covenants hereinafter mentioned,
on their part to be made and performed, the said party of the
first part hereby covenants and agrees to convey and assure to the
said parties of the second part, their heirs, executors, admtinis-
trators or assigns, in fee stimpte, ctear of atl encumbrances, by
tc good and sufficient Deed, the Zot, piece or parcet of Zand, si~~c-
ated irt the County of St. Lucie, State of Florida, kno~un and
described as foltor~s:
Lot 2, BZock 5, Creen Acres Unit Three S/D
St. Lucie County, Btorida "
;
;
and the said part'ies of the second part hereby covenant and agree ~
to pay to the party of the first part the sum of forty-nine hundred ;
ninety-five doZZars($4995.00 r~ith interest from date at the
rate of eight ( 8 x) per annum as fotlo~us: ~
Ninety-nine doZZars 99,00 1 upore the signing ~
of this Agreement, the receipt r~hereof is hereby aeknoratedged, and s`.
the batance as follor~s: _
i
Forty-nine doZZars & ninety-five cents l$49.9b ) per n?onth on
the Zst day of each month thereafter, beginnin,q September 2 ,
19 ~2 , untiZ the r~hote be futty paid.
Each instattment shatt first be apptied on the payment of interest
and then on the unpatid balartce of the principal sum.
On ctny instattments r~hich are not paid r~ithin aeven (7 ) days
j~rom due date, it is optionat r~ith partu of the first part to eharge
,~artz~e of the second part a five dottar (55.00 1
pensitty charge on the Zate payment. ~
•~aid~parties of the second part hereby covenant and agree to pay alt
taxes, assessments or impositions that may be Zegatty Zevied or
imposed ore said Zand subsequent to the year 1971, Second parties
aZso agree to pau att costs, charges and expenses, taw,yer's fees and
titte searcnes, reasonabtu incurred or paid by the first party ~
because of the faiture of second parties to promptZy and fully compZy t
~ith atb conditions and covenants in this Agreement. In the event
second partiea fQil to pay, r~hen du~, any tases, assessments, or ~
other sums of money payabte by virtue of this Agreement, firat party
may pay sa.me ~ithout ruaiving or affecting their optiore to forectose ~
this Agreement, and alt such payments shall bear interest from date
:hereof at the highest rate then attor~ed by the La~s of the State of
FZorida.
, , If any sum of money herein referred to be not promptZy paid
. r~i~l~in thirty ( 30 1 days next after the same beeomes due, or i f _
' ect~h and every one of the agreements, atiputations, conditions and
~'covenants of this Agreement are not futly performed, comptied raith
nd anided by, then the entire unpaid batance of this Agreement shatt
~orthwith and thereafter, at the opttion of the first party, be~ome
due and payabte and the estate hereby created in seeond parties ,
shatl ceas~e, terminate, and be nutt and void. Furthermore, this -
Agreement ahaZl, at the option of the party of the first part, ~be
forfeite d.and terminatod, and the parties of the second part ahalt
forfeit att payments nrade by them on this Contract; and such pay~rents
shaZt bz+ re~~t~injed byt ~he said party of the first part in futt ;
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BDC.K~~~ PACE12~9
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