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L~ASE
THIS LEASE~ executed this day of May, 1978~ in con-
sideration of.the following covenan s, agreements, limitations,
and conditions Pntered into by the parties hereto for ~themselves~ ~
their heirs~ successor$, legal representati~es, and assigns,
whereby HENRY A. ALLEN at~d EI~4IA RU~H ALLEN, His Wife, hereinafter
call.ed Landlord, leases to DANNY E. ADKINS and.CHERYL C. ADKINS,
His Wife, hereinafter 3ointly, severally~ and collectively called
the Tenant, the following property located at Route 1, Box 20, ;
Fort Pierce. Flor~da, and more accurately described as a pareel i
of Iand situate in Saint Lucie County, Florida, as: ;
~ ~i
A parcel of land in Tracts S and 6, SURORA T
. HEIGHTS SUEDIVISION, as recorded in Plat Book
7, Page 14, Saint Lucie County, Florida, de-
scribed a4 fol2ows:
Beginning at.the Northeast corner of~said ;
Tract 5, run West along the North line of ~
said Tract 5, 75.54 feet; thence run South
~ on an angle 89°04' as measured from East to ~
South li0 feet;.thence run Ease parallel with . i
the North line of said Tract 5, 11$.93 feet to
the east line of said Tract 5; thence run North-
" westerly along s~id East line 118.90 feet to the
point o~ beginning.
_ The premises are to be occupied only as a single-family dwe11-
ing unless written consent of Landlord to occupy.for other purposes i
is first obtained~ for the terms commencing on June 1, 1978, and
ending on May 31, 1979, at the rent of Two Hundred Fifty ($250.U0) ~
~ Dollars~each month, wiCh first and last months' rent payable before :
occupancy. -
The Tenant is hereby given an option to p_urchase the above
described premises at any time during the term of this Lease or_any
renewal thereof, upon the following terms and conditions: -
I. Ttie Tenant shall serve a written notice of such intent on '
the Landlord at least thirty (30) days prior to the effective date
of such sale. No such notice_of the exercise of the option to ~
purchase.shall be effective unless served at least thirty (30) days =
prior to the end of the term as herein demised, or as extended or ~
renewed. -
2.. Such notiee to be effective must be actually received by ~
the Landlord. ~
3. The sa2e price shaZl be Thirty-Five Thousand Five Hundred :
($35,500.00) Dollars, paysble in cash at closing, but the Tenant ~
may-use the proceeds of any mortgage or mortgages which he may ar- ~
range to pay for all or part of the purchase price.
4. If Tenant exercises option to purchase, rent accrued for
the term of thi~ Lease shall be credited against the purchase price ~
as"a downpayment for the benefit of Landlord at the time of sale.
. . ~
5. In the event that the Tenant, af.ter noti~ying the Landlord ~t
of the exercise of the option to~purchase, is unable to perform on
the date specified, the Tenant's rights under the option and re- :
~sulting sales agreement shall. terminate forthwith, and the Lease
without the option to purchase shall govern the rights of the parties.
It is agreed that time is of the essence in consumating any sa2e .
pursuant to the option herein contained.
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~ooK289 P~~E 45? ~
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