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CONTRACT OF SAI,E - Page Two
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in said amount, payable ~to Sell~r, bearing in-
terest at the rate of •~11~$ per annum from date ~'~G~
of closing, with interest and principal being
payable in five (5) equal annual installments,
begiruling one (1) year from date of closing,
Said note shall be prepayable in whole or in
part at any time without penalty after Decennber
31, 1973.
3. Within twenty (20) days from the date~ of complete
execution of this Contract by Seller and Purchaser, Seller
will deliver to Purchaser's attorney evidence of title in
the form of an abstract of title prepared by an abstractor
1-icensed to do business in St. Lucie County, Florida,_purpo~~-__-----
- ~ing to be an accurate - synopsis of the inst-ruments affecting
the title to that real property described herein, shawing the
title to be conveyed to be good and marketable.
4. If the evidence of title shall meet the requirements
above specified, the Purchaser shall pay the balance of the
purchase price and coincident therewith deliver to the Seller
the promissory note and ttie purchase money second mortqage re-
' ferred to above. If the Purchaser shall.not do so, the amount
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! paid as consideration for this Contract shall not be refunded •
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to Purchaser, but shall be retained as liquidated and agreed
upon damages, and both of the parties shall thereafter be re-
~ lieved from any abligation under this Contract.
~ 5. If the evidence of title shall reflect the title
not to be marketable, the Purchaser shall so notify the Seller
in writing within twenty (20) days after delivery of abstract,
specifying the defects, and the Seller shall have a reasonable
~ time after receipt of that notice to cure the said~-defects
and will in good faith exercise due diligence to do so. If
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~ the defects are cured within a reasonable time, the Seller
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~ shall notify the Purchaser in writing and the Purchaser shall
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~ pay the balance of the purchase price; and if the Purchaser
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~ shall not do so, the amount paid as consideration for this
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~ Contract shall not be refunded and shall be retained by the .
~ ' ~ NEILL GRIFFIN JlFriilEg S LLOYD Q"~ ~AI~G ~
~HARTERED
~ O 00% ~2J0. iOAT p1ERCE, FLORIDA 33~50 - TEIEP?10NE ~3053 ~4-8200
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