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HomeMy WebLinkAbout0423 4~t~~;34 ~ A6REEMENT This Agreement dated this day of , 1979, by and between Nelene A. Schweiger and Ethel M. Rose. NHEREAS the Parties hereto have contracted to purchase a condominium unlt located at Burgandy D, Apartment #~163, Kings Point Condominium, De1 Ray Beach, Florida for a purchase price of =24,490.00, plus ctosing costs; and WNEREAS the Parties deslre to agree in advance as to the obligations of each Party with respect to title, payment, upkeep and rights of acquisition of the other Party's interest i~ said condominlum. • NOW THEREFORE consideration of the foregoing, ~10.Q0 and other goad and , valuable considerations receipt of which is hereby acknorvledged and the Parties agree as follows:' 1. The Parties shall acquire and hold title to the aforesald condominlum unit, each as to an undivided one-half interest as tennants in camion. 2. Each Party shall pa~y one-half of the purchase price and closing costs to acquire said unit. 3. Each Party shall pay when due one-half of all mortgage installments, insurance, taxes, repairs, maintenance fees, recreation fees and all other costs associated with the malntenance, upkeep and ownership of this unit, including any assessments by any goverrnient agency, taxing agency or condominiun association. 4. In the event that either Party for any reason cannot pay her equal ~ share of such expenses, then at the time such expense payment is due, the Party ~ ~ ~ not paying same, shall make and del~ver a pramissory note to the other Party ~ F ~ hereto for such amount and the Party receiving such note shall pay uch expense ~ : ' item in full. The note shall bear interest at the rate of 3~~ per anun : ~ ; ~ and shall be due and payable in full three months from the date of such note. i ~ 5. In the event such note is not paid in full on or before the due date, ~ ~ ~ then the Party holding such note shall be virtue of this Agreement and the promissary ~ ~ note evidencing the aforesaid indebtedness, have the right to acquire from the _ ~ ~ ; other Party hereto all of her right, title and interest in and to the aforesald ~ p ~ condominl~en unit at a price equal to one-half of the original gross cost of such ~ ~ unit, less the amount of indebtedness orving on the aforesaid promissory note. ~ Upon notifying the other Party hereto of her option to purchase that Party's ~ ~ ~ ~ ~ ~ E F' ~!h." " ; ` 423 ~ ~SCC+~ JV~ ~ ~ ~ „A . . _ ~ ' ~ ` . " - _ - „5: ~ ~Cy, . " ~ ~ .:""K~+4~z+~~°+,r~r`~SV4:~'~ , . ~ ~~~~3.