HomeMy WebLinkAbout1248 ~
of this contract at the time the same falls due and prior to the
delinquency thereof, including installment. payments to the Sell-
ers,-and if such default continues for Thirty (30) days, Sellers
at their option may:
A. Declare a forfeiture of Buyers' rights
hereunder and cancel this contract: On such election, all right,
title and interest of the Buyers hereunder shall .cease and deter-.
mine and all payments therefor made by Buyers shall be retained
_by the Sellers as liquidated damages and as rental for the use
and occupancy of the property.
B. In lieu of declaring a forfeiture, accele-
rate and bring an action for the balance of the -purchase price
remaining due, or for any other relief available in law or
- equity, including suit to-recover any payment or payments .made by
the Sellers and repayable to the Buyers hereunder, it being stip- -
ulated and ayreed that such obligation to re-pay is a~separate
and .independent covenant of the Buyers. No action to recover any
payment or payments so made by the Sellers shall constitute a
waiver of the rights to proceed otherwise with respect to any
_ subsequent default. ~ _
- C. No waiver by the Sellers of any default of _
~ - '
the Buyers shall be construed as _a waiver of any subsequent de-
fault. _
11. The parties acknowledge that default shall be
construed as having occurred hereunder when the payment as re-
quired b~• the- Buyers shall have been delayed or not made within
Thirty ( 30 ) days of the due date thereof .
I2. It is agreed that the Sellers shall continue _
to be responsible for all Mortgage payments due GDV FINANCIAL
~I CORPORATION, and to keep current in all respects those provisions
! _
I as set forth in the Mortgage and_Note due the said Mortgagee. In
the event Sellers shall default in the performance of any of
their obligations thereunder, Buyers shall have the right to cure
ssch default and to apply the full amount of any monies so paid
~ - -
to the reduction of the indebtedness due the Sellers under the
HARGLDILC;oLDwu, terms of this Agreement.
ATT011~/ AT tA~ - - _ p ~~,,~~yy~~ ~ s
177! L f®ERAL 7~Y_ 8711lR ~/fr ~ r~ ~47
R.1T. LUCIE. ~!A 17it - -
-Page Four of Six Pages-