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BUY SELL AGREEMENT ~ ~
THIS BUY AND SELL AGREEMENT, made this day of
January, 1980, by and between H. R. HOLriAN and THOMAS B.
HOLMAN, as Co-Personal Representatives of the Estate of
Dora Belle Holman, deceased, hereinaf ter referred to as
~~Estate" and DANFORTH K. RICHARDSON, and/or Assigns,
hereinafter referred to as "Richardson".
WITNESSETH:
For and in consideration of the sum of FIVE THOUSAND
DOLLARS ($5,000.00), this day paid unto Brennan, McAuley,
Hayskar & McAuley Trust Account, Holman agrees to sell and
Richardson agrees to buy real property situated in St. Lucie
County, Florida, described as follows:
FOR LEGAL DESCRIPTION SEE ATTACHED EXHIBIT I.
All on terms and conditions as follows:
1. The purchase price for the above real property and
the 1979-80 fruit crop now on the trees, shall be Two Hundred
Thirty Five Thousand Dollars ($235,000.00).
2. TERMS AND CONDITIONS: The said purchase price
shall be payable in the following manner:
The cash. deposit hereinafter acknowledged
in the sup-: cf 5,000.00
Down payment of 75$ of total price will
include the above mentioned escrow deposit,
to be paid in cash at closing ...................$176,250.00
Purchase money second mortgage in the
sum of $58,750.00 payable in annual
insta?lments with interest at the rate
of 10$ per annum. The principal will
be ariortized over 15 -years with the
first annual installment being due f
on November 1, 1980. Payments will be
made oa November 1st of each succeeding
year until the 10th year when a balloon -
payment for the total balance due shall -
be made. The promissory note secured
by this second mortgage shall be per-
sonally guaranteed by Danforth K.
Richardson 58,750.00
The second mortgage can be prepaid without penalty at anytime.
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3. EQUIPMENT: There is no grove equipment with this sale. j
4. SALE OF FRUIT CROP: Pursuant to previous agreement
between Richardson and Dora Belle Holman, Richardson will market i
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and harvest, and has commenced to do so, the existing 1979-80
BOOK J~?O PAGE~~
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