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t'?~~'~~~~• , ARTICLE OF AGRESNENT - '
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~ NAD~ this gnd day of ~aQ~~b~n A. D. 19 ya betr~esn .
NAJOR ~XCAVATING CONPANI, INC., a Ftorida Corporation, party
of the first part and VILLIA~t C. CLI~VELAHD nd BSLEN CLSVSLAAD, h~e r~~ fo
part~ta of the aecond part, ~~~u
~d/~ ~r173 ~ I T N E S S E T B
E
Tf1AT i f the aaid part o f the aecond part ahaZ Z first
~taks the payments and perform ths oovenants hereinafter mentioned,
on t hetir part to be ~nade and performed, the :~a~,d party of the
first part hsreby covenanta and agrees to eoicvey and aesure to ths
aaid part i~sof the second part, their hetira, eseeutore, adminis-
~rators or aeatigna, in fee simpte, ctear of aZZ eneumbrances, by
h good and sufficient Dsed, the Zot, piece or parcel of Zand, sitti-
ated in the County of St. Lucie, State of Ftorida, kno~un and
described as foZtor~s:
~ Lot Btock 3, Untt III of CreanacrQa Subdiv~eion
a$ reoorded ~tn PZat Book 26, Page 88 of the PubZio -
~ Racords of St. Luoie County, Flor{da.
ctnd the aaid part{,~8 of the second part hereby covenant and agree
to pay to the party of the first part the sum of Ftiva Thousand Save» Flun-
dred N~~ietb-Pive !S 5~95.00 J, ~ith interest from date at the
rate of E~Bht Per oent ~ 8.0 x) per annum as fottoms:
i
Si.x 8undr~d A'invty-Nine Dottars ~95.00 1 upon ~he signing ~
of this Agreemerct, the receapt rahereof zs hereby aeknor~tedged, and ~
the batance as foZZor~a:
Fort,~-Ai»e DoLZars and 85;100 ~S 4~~g~ J per month on ~
the pirst day of eaeh n?onth thereafter, beganning January 1 ~
19 73 , until the ~hole be futty paid.
o..
C1~' ~ Each instattment ahatt first be applied on the payment of interest
~ and then on the unpaid batanee of the princzpaZ sum.
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(Y 'On any installments ~hich are not paid ~ithin Sayen days
Q~+ from due date, it is optional r~ith party of the first part to charge
partias of the second part a Five Dottar d 00;'100 (s 5.00 1
penatty charge on the Zate payn+ent.
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p.~ Said part ~ea of the second part hereby covenant and agree to pay aZ-Z
' ~~W p
Q~Z ~ taxes, assessments or irapositions that may be ZegalZy Zevied or
~'~'W N imposed on said Zand subsequent to the year 1~2 . Second par~68 ~
a:>
'~"'"`~r ~ atso agree to pau all costs, ~harges and expenaes•, Za~yer's fees and
I(~~ o~ i~ title searches, reasonabty incurred or paid by the first party `
!~~"a~W beeauae o f the fai ture o f second part ies to proMptjy and fut ty comp Zy
',f~o<~~tt11~1~1 ~aith att condtitions and covenante in this Agreement. In the event
G n 6 seeond part ies fai Z to pay, rvhen due, any tass8, asseasments, or
other sums of money payable by virtue of this Agreement, first party
~_,Nr wC~E may pay same r~ithout ~uaiving or affecting their option to foreclose ~
souMtr this Agreement, and att .auch payments shalt bear intereat from date ~
thereof at the higheat rata then allor~ed by the Lar~s of the State of ~
Ftorida.
.~.y- ~
-If an~ sun~ of money herein referred to be not promptty paid ;
r~ithin Th~Lrty ( 301 days next after the same beeomes due, or i f
each and every one of the agreements, stiputations, conditions'and F
covenants of this Agreement are not futly perfornred, complied r~ith ~
and abided by, then the entire unpaid batan~e of thia Agreement ahaZt
forthwith and therecrfter, at the option of the first party,r-~coMe '
due ~and payable ared the eatate hereby ereated in se~ond par~~8 , ~
shalt cease, terminate, and be nuZl and void. Purther,nore, thie . ;
Agreement shaZZ, at the option of the party of the firat part, be ~
forfeited and terminatad, and the partis8 of the second part ahatt ~
forfeit all payments made by them on this Contract; and such payments ~
shaZt be retained by the said party of the fira~ part in futl ~
" 3 . ~ , -
' 212 ~~E 525 -
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