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HomeMy WebLinkAbout2321 !~j . J ~ OUTD~~R RESORTS OF AMERICA, INC. ~s.yo55 PURCHASE AGREEMENT ~ CAMPSlTE OFFERING ~ This agreement made and entered into thie 13th d8y o~ February ~ 19 , by and between OiJTDOOR RESORTS OF AMER.ICA~ INC.. a oorporatioA organized and existing under the lawa of the 3t8te of Tennessee. Post Office Box 1116. densen Beach, Florida 3S4b?. hereinafter ealled the Owner; and s Rt. 2, Box 19 James_A. Recker ~ Angie B. Recker (his wtfe) De Motte, Indiana 46310 ~ hereinafter caUed the Purchaser; which terms Owner and Purchaser shall include and bind the heirs~ executors. te~;al representati~~ess, successors and assigns of the respective parties hereto whenever the oontext hereof so reyuires or admits; WITNESSETH t;~ ~ . ~i~'HEREAS, the Ov?ner is in the process of cleveloping a recreational vehicle resort on Hutchinson Island :~nd ~v'ettles Island in St. Lucie County. Florida, as a condominium to be known as Outdoor Resorts at Nettles I:l:~nd, and hac submitte~ the lands on vrhich said improvements~ are to be lceated to the condominium form ~~f oHnership and use by recordation of a Declaration of Condominium for said condominium in the public records ~~f St. Lucie County. Florida; and WHEREAS~ the Purchaser is desiroua of purchasing one of the lots in said condominium project pursuant to the terms and conditions hereof ; NO~Y. THEREFORE. in consideration of the mutual promises. covenants and undertakings hereinafter , ~et forth. the parties hereto mutually agree as iollows: (1) The Owner does agree to sell~ and Purchaser does agree to buy the ~following described real estate situated in St. Lucie County. Florida, to wit:- ~ - ~ Lot No. 113/II in that certain Condominium to be known as Outdoor Resorta at Nettles Island, as shown by a Plat of said Condominium which has been recorded in the Otflce of the ' Circuit Court in and for St. Lucie County, Florida, in Plat Baok 16. page 1:1A thmugh 1J, to- I gether with an undivided interest in and to, aa well as the right of use of~ the common use ele- ments of ssid Condominium. (2) Tlie Owne- hereby acknowledges receipt of as payment ~n full of the purchase price. , or, in the alternative. the sum of a aa a down payment--earneat money to be applied toward the total purchase price of a$.000.00 for the above deacrib~i lot. The balance of the purchase price shall be e~~idenced by a negotiable promissory note in the sum oi ~ -0- . which sum ahall be due and payable in consecutive equal monthly instailments oi S each. The Purchaser shall~ upon request of the Ow ner. execute a mortgage or other security instrume nt to secure payment of said pmmissory note. (3) In the event that the Purchaser has executed a negotiable promissory note, as aforesaid. all payments ~ made by the Purchaser on the aforesaid note shall be made to the Owner at the address shown above. or at such other plkce and to such other persons as the Owner shaU from time to time designate in writing to the Purchaser. 1'he Owner shall execute a warranty deed to the hereinabove described real property conveying to the Purchaser ~ a ga,d, marltetable and inaurable title~ free and clear of all liens and claims whatsoever $s of the date of its ~ e~~cution. The Purchaser shall pay all costs incidental to securing the purchase money Snancing set forth above, including fees for the issuance of a Title Certificate; fees for preparation of a mortgage; recording charges: Florida Transfer Tax and Florida Intangible Tasc, and any and all other closing costs and any subsequent fees imposed for release of mortgage. Payment for such closing costs and fees shall be made directly by the Purchaser to a title com~any designated by the Owner. (4) The Owner represents that the above described units are part of a condominium arrangement and that contemporaneous with the recording of the plat there has been recorded in the public reoorda of St. Lucie ~CRK ~~?~c7 PdCf ~~1. _ - - _ -r~-: ~ f' : ~ ~ ~ ~ ~ i ti ; a' ' ~ ~ w .8 ~ ~ _'.Z .