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~•~t~l ' ARTICLE OF AGREEMENT
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a ~ A. D. 19?~ , betu~esn
c1~~ MADB this 25tj; day of t,'ov~.r.rl er ,
MAJOR EXCAYATINC COMPANY, IXC. , a Florida Corporation, party
of the first part and ova Q. ~ri~ht ancl LtiZtiare Nri,q~zt, 3eis :,~i; e
part~ES of the aeoond part, /v~f ~,~Q-,,,~,u-,~~~ ~
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W I T N E S S E T 6 ~
THAT if the said partias of the second part shatl first ±
makt the paynrenta a»d perform the covenante hereinafter mentioned,
on their part to be made and performed, the aaid party of the :
first part hereby covenanta and agrees to convey and assure to the ~
sai.d part of the second part, thsir heirs, executora, ac~minis- ~
tratore or assigns, in fee simpte, ctear of att encumbrancas, by ?
lz good and sufficient Deed, the Zot, piece or parcet of tand, situ- ~
ated tin the County of St. Lucie, State of Ftorida, knor~n and ~ ~
described as fotlo~s: ' ~ ~
~ot 3, i'Zo~k 3, Jnit III o~" ~~ree~: ~oreJ Sui.-Divisio~i :
Plat ~ovk 1c:, Pa~e ~8, St. Luc.•ie Countr~ ~
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and the said parties of the second part hereby covenant and agree =
to pay to the party of the first part the eum of Fort~~-nine :cu~tc.'red . _
ana ~~znet=a-;'i~Q (S Q:~ys. Ja • J, ~ith interest from date at the ~
rate of ~:i,~:.t ( ~1'x1' p~r ~nnun~~ ~ts foZto~s:
;rtinatJ-~ii~a~ c:oLl;.rs (S :-.~.Gu ) upon the signing
of this Agreement, the recezpt r~hereof is hereby acknor~tedged, and
the b.aZance as fotlo~8:
- ~'ortu-ni_~ie c'ottars and d5; ICO
4 (S 4~.9c, ) per month on
the ~ir9t day of each month thereafter, beginnin,q Januarr~ 1, 137:5,
19 ?3, untit the r~hote be futty paid. -
Each instattn?ent ahatt first be appZied on the payment of interest ~
j and then on the unpaid balance of the principat aum. #
~ On any instal t?nents ruhich are not paid r~ithin seven ( 7 J days ~
~ from due date, it is optionat ~ith party of the first part to eharge =
part~eE of the second part a Five i:'oZZ~r (S ~,~r I ;
~ ~ penalty charge on the Zate pay~nent. ~
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~ c-~ ' Said parties of the,second part hereby covenant and agree to pay aZZ ;
~ ~ taxes, assessnrents or impoaitions that may be Z6gatly Zevied or _
timposed on said Zand subsequent to the year 197~. Seeond part
<<~ ' atso agree to pau atl costs', charges and expenses, Zar~yer's fees and' _
titte searches, reasonabtu incurred or paid by the first party '
i~'`v~'' because o the aiture o seeond artics to rom tt and uZZ eom Z =
; f f f P P P y f ~ P y
?~ith all conditions and ~ovenants in this Agreement. In the svent ~
second parti-e8 fai Z to pay, rahen due, any tasas, assessments, or €
" other sums of money puyabte by virtue of this Agreement, first party
, may pay same•r~ithout ruaiving or affecting their option to forectose
this Agreement, and all such paymenta shatt bear anterest from date ~
thereof at the highest rate then attomed by the Lar~B of the State of ~
y -i Florid~. ~
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~ If any sum of money herein referred to be not pr~omptZy paid
~ ' r~ithin t~.irta ( 3~') da~s next after the same beeomes due, or if
each and every one of the agreementa, 8tiputations, conditions and
~ covenants of this Agreement are not futly performed, comptied r~ith ~
~ and abided by, then the entire unpaid batanee of this Agreement shatl ~
forth~ith and thereafter, at the option of the firat Qarty, become ~
~ due and payabte and the estate hereby created in second part ~¢8, ~
~ shatl cease, terminate, and be null and void. Furthermore, this ~
Agreement shatt, at the option of the party of the first part, be ~
~ forfeitgd and terminatad, ared the partZEB of the secored part ehaZt
~ forfeit all puymenta made by them on this Contract; arcd auch payments ~
shall be retained by the said party of the first part in fult ~
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