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Extension Agreement Pursuant to and as a~ ~1 ndum to Purchase and
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Sale Contract Dated November 27, 197A'; G. ERBERT CAIL and EMMIE LEE CAIL,
Seller(s): As recorded in the Public Records, Clerk of the Circuit Court
St Lucie County, Florida, in 0 R. Book 221, Pages 1048-1056.
1. The Parties hereto covenant and agree that in the event of any conflicts
in this Agreement and the Contract that is referenced in the title above,
the terms, conditions and provisions of this Agreement shall prevail over
said referenced Contract.
2. The Parties hereto understand and agree that for the purpose of relating
this Agreement to the Contract referenced in the title above, the term
"the closing" as used herein shall be the same as the "transfer of the
deed" as used in the referenced Contract.
3. The Parties hereto understand and agree that the certain Purchase and Sale
Contract dated November 27, 1973 as recorded in St. Lucie County Official
Records Book 221, Pages 1048-1056 referenced in the title above is a -
part hereof of this Agreement and is included herein by reference and that
given the specific terms and conditions delineated herein and pursuant to
Paragraph #l, herein above, that all the terms and conditions of the
referenced Contract are the terms and conditions of this Agreement including
but not limited to the Purchase Money Mortgage, the Purchase Money Mortgage
3 release grovisions,terms and conditions.
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4. The Parties hereto understand and agree that the parcels of the referenced.
Contract titled "Stage One" and "Stage Three" have been closed and that
the deeds have been or are being transferred to the Buyer.
5. The Parties hereto understand and agree that the purchase price for the
parcel of the referenced contract titled "Stage Two" shall escalate at
the rate of seven percent (7%) per year compound. d annually from
January 23, 1979 to the date of the closing conter,~piated herein. This
increased purchase price shall be a proportionate increase in (adjustment
= to) both the Purchase Money Mortgage and the down payment.
6. The Parties hereto understand that the closing contemplated herein shall.
be anytime on or before January 23, 1980 at the discretion and sole option
of the Buyer, except that Buyer shall notify Seller at least ten (10) days
prior to his selected time of closing.
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