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AGREEMENT FOR DEED
MADE this the 1st day of April, A.D. 1979, between
BEULAH F. LAW, a married woman, party of the first part, and
WILLIAM S PAYNS JR
parties o t e second part, ax ~ 9& J ueR,N Oto_ ix~ ~ : erce, Tit.
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WITNESSETH, `that if the said parties of the second part
shall first make the .payments and perform the covenants herein-
after mentioned on their part to be made and performed, the said
party of the first part hereby covenants and agrees to convey
and assure to the said parties of the second part, in fee simple,
clear of all encumbrances whatever, by a good and sufficient
Warranty Deed the following described land, situate and being in
the County of S t. Lucie, State of Florida, to-wit:
That part of the NEB of the SW~ of Section 8, Township 34
South, Range 40 East, St. Lucie County, Florida, more
particularly described as follows:
Begin 250 feet East of the NW corner of the NE4 of
the SW4 of said Section 8; run East on the quarter
section line to the West right of way line of Old
Dixie Highway, thence run Southeasterly along the
West right of way line of Old Dixie Highway 196 feet
to a point thence run West parallel to the North line
of said NE~ of the SW4 500 feet, thence run North 1?9
feet to the Point of Beginning.
"`-and the said parties of the second part hereby covenants and
agrees to pay the said party of the first part the sum of FIFTY-
ONE THOUSAND, FORTY-EIGHT AND 33/100•s ($51,048.33) DOLLARS
less cash deposit of $500.00 and less cash at closing of
$2,548.33 for a net of FORTY-EIGHT THOUSAND AND 00/100•s
($48,000.00 DOLLARS together with interest from date at the
rate of10~ per annum for 20 years with sai-d principal and
_J.~interest being payable as follows, to-wit: -
$471.22 on May 1st, 1979 and $471.22 on the 1st day of
- each succeeding month thereafter until the full sum of
$48,000.00 is paid in full together with the interest
of 1049b per annum on the unpaid balance referred to above.
Each payment shall first be applied to the unpaid in-
terest and then to the principal. Privilege of prepayment
on any sum on principal is granted without penalty.
In the event this contract is assi;g~ed without written
consent of the seller then the:~xll unpaid balance of
the obligation referred to above shall become_due and
~ payable. In the event anyone other than the buyer occu-
pies said premises for more than four weeks, the full
~ unpaid balance of the obligation referred to above shall
become due and payable.
R -
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~ AND the parties of the second part hereby further covenant
and agree to pay promptly when due the principal and interest and
other sums of money provided for in this agreement; to pay all
~ and singular the taxes, assessments, levies, liabilities, obli-
gations, and encumbrances of every nature on said property; to
permit, commit or suffer no waste, impairment or deterioration
of said land or the improvements thereon at any time; to keep
the building now or hereafter on said land fully insured in a sum
e not less than the amount remaining from time to time unpaid in a
company or companies acceptable to the party of the first part,
the policy or policies to be held by, and payable to said party of
the first part, and in the event any sum of money becomes payable
by virtue of such insurance the party of'the first part shall
have the right to receive and apply the same to the indebtedness
hereby secured, accounting to the parties of the second part for
~ any surplus; to pay all costs, charges and expenses, including
lawyer's fees and title searches, reasonable incurred are paid by
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~ RECrnto s . ~ tN ?I~r~M of t~~
' • GUE YM CU?SS `C' iNTRft6:8tE PfR50:".t P°'.i'hiY,
PURSORNT TO C1tAPTES TI-134. ACTS Gi f111.
6%GEa PL'ITP,AS
C1~6X ddGilT COUAT. ST. lU%IE CO, FLA. ~ ~ r ~ I (14~