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SCHEDULE II
The Grantee is required to commence construction ui improvements on
the property described in this deed not later than twelve (12) utonths
from the date hereof. Construction of such improvements shall be in
accordance with recorded deed restrictions and applicable zoning re-
gulations and shal~. be pursued diligently to completion. In the
event the Grantee fails to commence and pursue such construction to
completion, the Grantor, at its sole option and discretion, May
elect to repurchase the subject property for $36,480.00. In the
event of such election to repurchase, the Grantee, or its successors
or assigns, shall reconvey the subject property to the Grantor by
general warranty deed, free and clear of any liens, encumbrances or
any other defects in title arising out of the Grantee's or any
successors in title, ownership of the subject property. Any expense
incurred to eliminate, discharge, cancel or release encumbrances or
clouds on title created subsequent to the conveyance from the Grantor
to the Grantee shall be borne by the Grantee. If the Grantee fails
or refuses to reconvey title in accordance w~ith the foregoing, the
Grantor may elect to bring an action for specific performance and,
in such event, the Grantee shall be responszble for all ;.osts thereof
including reasonable attorneys fees.
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~ Dti\'i~ A G~':r'~i't, C_ae:at Couns~i
Gencral Oc,v:;to~:; f-:: Cotporation °
IIlI S. Bayshore Dr., ~vii.~mi, Fla. 33131 ~