HomeMy WebLinkAbout3001 a:~~714.y ~ ~ -
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AGREEMENT
THIS AGREEMENT made this ~ day of ,
1979, by and between MICHAEL R. MEILEY and PETER H. McLE00.
WHEREAS, the parties hereto have this day purchased as
tenants in common, the following described real property situated
in St. Lucie County, Florida, to wit: Beginning at the NE corner of the
NEB of SEA of SIB of Section 19, Township 35 South, Range 40 East; run S 30 feet i
to a point; thence turn and run W 236 feet for Point of Beginning; from said
Point of Beginning continue W 101 feet to a point; thence turn and run S 104 feet
to a point; thence turn and run E 101 feet to a point; thence turn and run N 104
feet to the Point of Beginning; said land being also described as the E 49 feet F
of Lot 5 and the W 52 feet of Lot 6 of Blk. 1 of an unrecorded plat of McNeil Road
Subdivision, lying in and being a part of the NEB of SEA of SW~ of Sec. 19, Twp. 35S,
Range 40E. WHEREAS, the parties desire to enter into this agreement
in order to provide for purchase of either party's respective interest
by the other party hereto, in the event of the happening of any of
the number of contingencies set forth herein pursuant to the terms
and conditions of this agreement; and
WHEREAS, in reliance upon the covenants, terms and conditions
of this a reement, each of the
g parties close on the sale of the
above-described real property taking title as tenants in common. ~
NOW, THEREFORE, in consideration of the terms, covenants,
and conditions of this agreement on the part of each party to be
performed, Ten Dollars ($10.00) and other good and valuable considera-
tions, receipt of which is hereby acknowledged, the parties agree
as follows:
1. In the event of the death, incompetency or desire on
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the part of either party hereto to sell his respective interest in
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the above-described real property, the other party hereto shall have
i the right and/or option to purchase his co-tenant's undivided one-
half interest in the above-described real property at a price equal
to one-half of the fair market value of the property, with credit
being given towards such purchase price for one-half of the principal
balance of any existing mortgages on the property which the purchasing
art would assume and a ree to
P Y g pay in the entirety. If the party
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hereto, given the option and/or right to purchase the other party's
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respective one-half interest fails to close on such purchase within ;
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