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-ARTICLES OF AGREEMENT, made thi s 2i st„ day of ~ M_> > .l 97x,_,_,,
between AVON MANOR PARK, INC., a Florida corporation, hereinafter called the Seller, and
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hereinafter called the Purchaser: ~ -
MITNESSETH: That if the Purchaser ~shal l -first make the payments and perform the
covenants hereinafter mentioned on the part of the Purchaser to be made and performed, the
Sailer hereby covenants to convey and assure to the Purchaser, in .fee simple by good and
sufficient deed, clear of all lncumbrances whatever excepting unpaid taxes #or the current
year the use restrictions hereinafter set forth, an~ reservations and easements of record,
the following described land situate in St. Lucie County, Florida. -
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:Lot 6 of 61ock A in AVON MANOR SUBDIVISION,
(Unit No. l), according to .the plat thereof recorded in Plat
Book 16 at page 19, Public Records of St. Lucie County, Florida.-
And the Purchaser hereby covenants as follows:
1. To pay to the Seller the sum of ~ 5,500• ~ for said land in the
manner following: ~ So0_QO cash in hand paid, the receipt whi~eof is hereby
acknowledged; $ - 92•b3~ on or before the 1st day of
Juns J, , 197_x, and $ 92.b3 on or before the h
day of each month thereafter until there shell have been paid the balance of the principal .
sum tooggether with interest on principal balances remaining unpaid from time to time at the
rate-of l0 per annum, computed monthly; all payments-to be first applied to interest
then due an the remainder to principal; and other sums of money-provided for in this -
agreement. All payments to be made at the existin office of the Seller or such other
place or places as the Seller shall from time to t~me designate. NO PENALTY FOR PREPAYMENT.
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2. To pay all taxes,-assessments or impositions that may be legally levied or
imposed upon said land for the current year and each succeeding year, as and when. the same
shall respectively become due.
3. To permit,•commit, or suffer no'waste, impairment or deterioration of said
land or the improvements thereon at any time. - s
4. To keep the buildings now, or hereafter erected, on said premises insured in
sane company satisfactory to the Seller against fire and windstorm risks in a sum equal to
the full. insurable value thereof with loss payable to Seller.
S. In the case of the .failure of the Purchaser to make any of said payments or
i any part thereof, or the interest thereon, or to perform any of the covenants on the ~'ur--
c?~aser's part hereby made and entered into within 30 days next after the same becomes due
and payable or if each and every the agreements, stipulations, conditions, and covenants }
of this agreement are not fully performed, complied with and abided by, then, at the option
~ of the Seller: (a) -This contract shall be forfeited and terminated, and the Purchaser
e shall forfeit all payments made on this contract; and such payments shall be retained by
- the Seiler in full satisfaction and liquidation of all damages sustained by the Seller,
t and the Seller shall have the right to immediately re-enter. and take ssession of the
premises aforesaid without being liable to any--action therefor; or (b~All sums stipulated.
to be paid to the Seller may be declared due and payable forthwith, and the Seller may
foreclose this contract in the same manner and form as if it were a mortgage, and in which
event the Purchaser agrees to-pay all costs, charges and expenses thereof including-a rea-
sonable attorney's fee and title searches if this contract shall be placed in the hands of
an attorney-for foreclosure or collection. And in the event the Purchaser shall have failed
to pay any taxes assessments, impositions, or insurance premiums, or other sums of mousy p~y-
able by virtue o~ this agreement, the Seller may pay the same and all sums of mousy so paid
shall bear interest from date thereof at the highest lawful rate then allowed by the laws of
the State of Florida and shall be secured hereby. Failure by the Seller to execute any of
these rights or options herein provided shall not constitute a_waiver of any rights or options ~
i under this agreement accrued or thereafter accruing.
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