HomeMy WebLinkAbout2595 evert and that said land ie free snd clear o~ all encumbrances
~ except that of a lirat mortgage by the parties o! the first part
to McCaughan Mortqage Company, Inc., ~eted December 1955,
recorded in Mortgage Book 122, peqe 293 0! the public records of
5t. Lucie County, Florida, to secure an oriqinal indebtedness of
- Eight Thousand Eiqht Hundred Dollars tS8,800.00). The parties
of the first part specifically covenant and aqree to hold the
parties of the second pert harmless with reapect to said mortgaqe
lien and debt and not to permit said indebtedneas to become in
default and further covenant and agree that prior to or at the
~time of the discharge of the indebtedness secured by this agree-
rr,ent for deed, they will cause the real property descrfbed herein
to bQ r-eleased from the lien and operation of safd awrtgage by a
eatisfaction of mortgage in recordable form.
And the partfes of the ~econd part hereby covenant and
aqree ~o pay to the parties of the first part as conaideration
for the ebove described real property the eum of Bighteen Thousand ~
Dollars (518,000.00} in the manner follo~ring:
One Thousand Five Hund=ed Dollers (S1,500.00) upon
~ the execution of this aqreement, the payment and
! receipt of same beinq acknowledged by the pArtiee
hereto. The balance of Sixteen Thousand Five Hnndred
~ Dollars (516,500.00) ahall be payable in four equal
F and consecutive annual installmenta o! One Thousand
Five Hundred Dollars t$1,500.00) beginnfng one year
~ from the date hereof, and a last and f inal install-
~ ment of Ten Thousand Five Hundred Dollara (510,500.00)
due tive years from date. The principal indebtedness
secured hereby remaining unpaid from ti~ne to t e
shall bear interest at the per annwn rate°~ -1/4
per cent. Intereat ahall be payable in monthly
inBtallments beqinning one month from the date hereof.
There shall be a thirty-day period of qrace !or the
payment of all installmente of principal and interest.
~ Al1 pa~yments due and owing by the second parties to
~ fizat par~ies pursuant to this agreement shall be
~ paid to first parties at 7 Madrid Lane, Spanish Lakes,
~ Port St. Lucie, Florida 33452.
And the parties of the second part further covenant and
~ agree as fol2ows:
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FEE. PARKER ~ FEE P. A.
~ U R~~Q ATTORNEVd AT LAW
BOOK O PAGE POBT OFFICE oOX 1000
~ FORT PIERCE. FLORIDA ~34s0
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