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ANNUITY AGREEMENT
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THIS AGREEMENT, made the / day of July, 1975 by and
between DON D. REED, hereinafter called the "Seller", and RICHARD
B. REED, hereinafter called the "Purchaser", in the City of Fort
Pierce, St. Lucie County, Florida.
. WHEREAS, the Purchaser is desirous of purchasing from the
Seller certain real property owned by the Seller, the description
of which is set out in the exhibit annexed hereto, and
WtIEREAS, the Seller, because of the uncertainties surrounding
the income derived from said property. and of the tediousness surer
rounding the management and the collection of the income from the
property, is desirous of relieving himself from the burden of the
collection of said income and of the management of the said property
and is further desirous of asuring himself for the full term of his
natural life of the receipt of a certain fixed annual income, and
WHEREAS, the Seller is willing to bargain, sell, transfer, set
over and assign to the Purchaser the said real property as set
forth in the exhibit hereto annexed provided that the Purchaser
will agree to pay to the Seller the sum of One Thousand Four.Hundred
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f Dollars ($1,400.00) per month for the full term of his life regard-
less of the value of said real property or the future value of any
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rents to be derived or other income therefrom by the Purchaser.
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~ NOW, THEREFORE, in consideration of the premises and the cove-
nants hereinafter set forth, the parties agree as follows:
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1. The Seller hereby bargains, sells, transfers, sets
over and assigns absolutely to the Purchaser all right, title and
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interest he has in the real property as set forth and described in
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the exhibit attached hereto. The Seller will further execute simul-
taneously herewith a Warranty Deed conveying absolutely all right,
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a title and interest he has in said property.
LAW OFFICES
s WILLES, BITTAN ~ WILLES ~ P
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P. O. BOX 90Y ~~%yr r~~1-~
~ FORT PIERCE. FLORIDA ~~430
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