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the total purchase price. The right to prepayment is reserved to
~he Purchasers.
Upon the Purchasers making the final payment or pre-payment
of their obligation hereunder, the Sellers will convey the above - ~
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described property by good and sufficient Warranty Deed to the
Purchasers, sub3ect to a first mortgage held by Indian River Federal
Savings & Loan Association, which the Purchasers agree to assume
and pay and the Sellers agree is part of payment to them.
The Purchasers shall be permitted to go into possession of
the property covered by this Agreement on the date of its exec~}tion,
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and shall assume all liability for insurance. taxes and maintena~ce
fro~n and after that date. The Purchasers agree to maintain the
exterior and interior of all buildings in good conditiQn and to
maintain fire and extended coverage insurance on the buildings in
an amount of not less than the balance due Sellers under this
Agreement or the maximum insurable value. of the property, whichever
is~ les s .
Required documentary stamps shall be placed on the deed by
Sellers. In the event that a purchase money mortgage is taken by
the Sellers as a part of the purchase price, the intangible tax on
i it shall be paid by the Sellers, and the required documentary stamps -
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f on Che note secured by it shall be paid by the Purchasers. ~
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The time of payment shall be of the essence and in the event
of any default in payment of any part of the purchase money as and
when it becomes due or in the performance of any other obligations `
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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 :
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Agreement as immediately due and payable and collectible, or the
Sellers may rescind this Agreement, re.taining the cash consideration
paid for it as liquidated damages, or the Sellers may take possession
of the premises, and this Agreement then shall become null and void.
In the event that it is necessary for the Sellers to enforce this
Agreement by foreclosure proceedings, or otherwise, all costs of
those proceedings, including a reasonable attorney's fee, shall be
paid by the Purchasers. ,
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