HomeMy WebLinkAbout0637 for the balance due and reu~aining under this Agreement~ the Sellers promise
and agree to convey the property above described to the Purchasers by good
and suf'ficient Warrarity Deed. In the event the Purchasers cannot obtain a
mortgage for the fl~ll amount~ the Purchasers will then apply for approval to
assume that certain Citizens' Federal Savings & Loan Association of St. Lucie
County mortgage recorded in Official Record Book 251, Page 2851, of the Public
Records of St. Iucie County~ Florida~ whereupon the said Purchasers will exe-
cute a promissory note and second purchase money mortgsge encumbering the
above described property to secure the balance of the $5,474.00 due the
Sellers, then remaining, bearing interest at the rate of ~ per annum and
payable in equal monthly installments~ payments to be applied first to interest
and the balance to principal and with the right of prepayment at any time and
fram time to time without penalty.
The Purchaser shall be permitted to go into possession of the property
covered by this Agreement on the date of its execution~ and shall assume all
liability for insurance~ taxes and maintenance from and after that date. The
Purchaser agrees to maintain the exterior and interior of all buildings in
good condition and to maintain fire and extended cwerage insurance on the
buildings in an amount of not less than the balance due Citizens Federal
Savirigs & Loan Association of St. T~ucie County, Florida~ an3 Frank DeThomas
I and Lena R. DeThomas, his wife~ under this Agre~ent~ or the ma~cimum insur-
~
~ able value of the property~ vhichever is less.
Required Documentary Stamps shall be placed on the deed by the Sellers. ~
In the event that a purchase money mortgage is taken by the Sellers as a part of
the purchase price, the intangible iax on iti snai3 oe paid 'uy L~ie SC11C15~ -
the required documentary stamps on the note secured by it shall be paid by the
Purchasers.
The time of payment shall be of the essence and in the event of any
dePault in payment of any part of the purchase money as and when it becomes due
~ or in the performance of any other obligations assumed by the Purchasers in
this agreement, and in the event that the default shall continue for a period
of fifteen (15) days~ then the Sellers may consider the whole of the balance
due under this Agreement as immediately due and payable and collectable, or
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' the Sellers may rescind this Agre~nent, retaining the cash consideration paid
i~?
~ ~ for it as liquidate3 damages~ and this Agreement shall then become null and
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void. In the event that it is necessary for the Sellers to enforce this Agree-
~ ment by foreclosure proceedings, including a reasonable attorney's fee~ such
~
: A~ shall be paid by the Purchaser hereun~der. n o^~ ~ ~~`r, ~
~ ( 2) P;"L ~Ve`~ PAGf 34~7