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9. ITEMS PRORATED. The tollowing ilems are to be protated between the'BUYER and SEGLER as ot the date ot closing:
(a) Taxes tor the current Year including personal property taxes (U pot detinitely ascertainable the amount is to be coa•
sidered ihe same aa the previous Sear).
(b1 ~ Rentals it any. (c) I'remiums oa any existing insurance policies to be transterred to the BUYER.
(d) Accrued interest on any existing encumbrances to remain on the property. ~
10. INSURAIVC~ SHALL 8E PROVIDED by Ihe BUYER, in the event ot a deferred balance, in a company designated and ap-
proved by the SELLER, coataining mortgage or loss clause payable to the SELLER as his interest may appear. in an amount
not less than:
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(a) such amount oi fire insurance on the buildings aad conter?ts acquired hereunder as shall equal the deterred balance due
the SELLER, or ihe insurable value of such property, whichever amount is smaller, and ;
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(b) such amount of windstorm insarance as sh~il meet minimum co•insurance requirements. l}
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11. A COMPLETE ABSTRACT OF TITLE in usual form irom earliest records to this date by authorized abstractors or title comp- i
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anies shall be furnished by the SELLER to the BUYER at the ofCce of ihe agent within 10 days from date, aad the
Bt'YER shall have until 20 days irom th~s da'e to examine the same.
12. IF THE TITLE BE GOOD, the SELLER shall deliver [or thc BUYER at the otfice of said ageat,
~~arran~y deed properly executed and conveying good and merchantable title to said property free and clear of taxes, lieas and
encumbrances, except as otherwise provided herein; the BUYER shall thereafter. on or before 30 days Srom this date
pa~• the balance, if aoy, of said cash payment, and deliver to the SELLER the mortgage with abstract of ti11e or other security for
the defened payments, if any. hereinbeforc prov?ded for.
13. IF THE TITLE IS DEFECT{VE, the BUYER shall specify the objections in wtiting to be delivered to the SELLER at his
oftice or resideace, Qr at tbe office of his attorney, on or before 20 days from the date of delivery and receipt of t6e
abstract by the BUYER or his attorney; The SELLER shall on or before 60 days from ihe receipt of the objections
in writing either have We defects rectified or furnish t6e BUYER or his attorney with a title policy issued by a company author- `
ized to insure titles in the State of Florida. at the cost of the BIJY ER; but in case such defects in the title are not rectified within
that time, or a title po~icy furnished as herein provided, the BUYER shall have the option of accepting the title ui its existing
condition or demaadiag and receiving back said deposit, and all pariies shall be released from all obligat;on hereunder, where-
upon this contract shall be null and void. ' '
14. IF THE SELLER HAS KEPT his pa~t o: this :.breement, by tu~rnishing good title as herein pro~~ided, and the BUYER fails
to comply witb lhe requirements hereunder, ihen the money deposited as aforesaid is forteited by the BUYER and this contract
may or may not be thereafter operat?ve, at the opt~on of the SEL! ER.
15. THE PROPERTY IS SOLD SUBJEtT to the approval of the oK~ner, and the BUYER is entitled to possession only upon
receipt of deed as herein provided. The SELLEI2 may remove a ny objections to the tiUe at the tim~ of closing if the same can be
done at such time. Building or use restrictions general to the distr:ct, zoning regulations and provisions, and easements of record !
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~hall not be deemed encumbrances. Time is oi the essence of this contract, and the terms hereof shall be binding upon t4e heirs, f
per;onal representatives, successors and assigns of boW the BOYER and the SELLER. Wherever the context hereof so requires
or admits, the singular number includes the plural and vice versa.
16. THE BUYER•s attorney is Spencer_B. Gilbert, P. 0. Box 3388, Fort Pierce, Fla.
i7. 7HE SELLER'S attorney is Spencer B. Gilbert, P. O. Box 3388, Ft. Pierce, Fla.
i8. For and in consideration of this contract, the seller grants to the buyer
an option for the period of 12 months from the date of this agreement, to
purchase Lot 23, of Block 71, fronting on Cambridge Drive for the same ,
price and terms as called•for in the purchase of Lot 22, Block 71, in this
contract. The buyer shall give notice to the seller not less than 30
! days prior to the expiration of•the 12 month option period of the buyers'
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election to exercise the option; whereupon the seller shall then provide
' an abstract of title brought up to date and deliver same to the buyers.
W;,~,._~; All times to be computed shall be the same as in this Deposi~t Receipt.
19. There is no real estate broker "involv~ro~ ~ ~~~sa
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1• ' _ seal~
Duane W. uck
Z . er" cseai~
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ton Br~n rger
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. : ao~,~212 P,~cE 19 ?
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