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M081LE HOME LOTS
ARTICLES OF AGREEMENT, made this y„Srh day of F'~ruar•• ~ l~a-~---~
between AVON MANOR PARK, INC., a Florida corporation, hereinafter called the Seller, and
rcubert L Ruark e~; Althea C Ru~a~,,, h/~1, '~SSO Sow h U_S_ 1 , P t_ Box 1981 ~ •o t P~erc~; Fla_
~1~; ~.,.7 r~.-1~~.. , ~~i3 J 33450
hereinafter called the Purchaser:
WITNESSETH: That if the Purchaser shall first make the payments and perform the
covenants hereinafter mentioned on the part of the Purchaser to be made and performed, the
Seller hereby covenants to convey and assure to the Purchaser, in fee simple, by good and
sufficient deed, clear of all incumbrances whatever, excepting unpaid taxes for the current
year the use restrictions hereinafter set forth, and reservations and easements of record,
the following described land situate in St. Lucie County, Florida.
Lot 28 of Slock A in AVON MANOR SUBDIVISION,
(Unit No. 1 ,according to the plat thereof recorded in Plat
Book 16 at page ig, Public Records of St. Lucie County, Florida. -
And the Purchaser hereby covenants as follows:
1. To pay to the Seller the sum of $ 8_75U.U0 - for said land in the
manner following: $ 1,06y.75 cash in hand paid, the receipt whereof is hereby
nt of $$b?f 224 ius ~2~ 68 re I estate taxes is due March 1, ~ 980) ~nd
acknowledged;/~ Slt~.81 on or before t~e lst ay o
' ~Apri 1 l~,_~_____, and $ 160.81 on or before the Ict
day of each month thereafter until there shall have been paid the balance of the principal
sum together with interest on principal balances remaining unpaid from time to time at the
rate of 18~ per annum, computed monthly; all payments to be first applied to interest
then due and the remainder to principal; and other sums of money provided for in this
agreement. All payments to be made at the existing office of the Seller or such other
place or places as the Seller shall from time to time designate. NO PENALTY FOR PREPAYMENT,
2. To pay all taxes, assessments or impositions that may be legally levied or
i~;~posed upon said land for the current year and each succeeding year, as and when the same
shall respectively become due.
3. To permit, commit, or suffer no waste, impairment or deterioration of said
iaiiu or the improvements thereon at any time.
4, To keep the buildings now, or hereafter erected, on said premises insured in
some company satisfactory to the Seller against fire and windstorm risks in a sum egrial to
the full insurable value thereof with loss payable to Seller.
5, In the case of the failure of the Purchaser to make any of said payments, or
any ,arc thereof, or the interest thereon, or to perform any of the covenants on t~:~ Pur~•
cuasc:r's part hereby made and entered into within 30 days next after the same beco+zes ~I~,e
and pa~~bie or if each and every the agreements, stipulations, conditions, and covenants
of this agreement are not fully performed, complied with and abided by, then, at the option
of the Seller: (a) This contract shall be forfeited and terminated, and the Purchaser
shall forfeit all payments made on this contract; and such payments shat) be retained t,y
the Seller in full satisfaction and liquidation of all damages sustained by the Seller,
and the Seiler shall have the right to immediately re-enter and take ossession of the
premises aforesaid without being liable to. any action therefor; or (b~ Ali sums stipulated
to be paid to the Seller may be declared due and payable forthwith, and the Seller may
foreclose this contract in the same manner and form as if it were a mortgage, aid iii :.'rich
eve~~t the Purchaser agrees to pay all costs, charges and expenses thereof including a rea-
sonable attorney's fee and title searches if this contract shall be placed in the hands of
an attorney for foreclosure or collection. And in the PvPnt the Purchaser shall have failed
to pay any taxes, assessments, impositions, or insurance premiums, or other sums of money pay
able by virtue of this agreement, the Seller may pay the same and all sums of money so paid
shall bear interest from date thereof at the highest lawful rate then allo?,red by the laws of
the State of Florida and shall be secured hereby. Failure by the Seller to execute any of
these rights or options herein provided shall not constitute a waiver of any. r-igiits or optior
under this agreement accrued or thereafter accruing.
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