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j~ 3. 'i!'ue Court also finds that the Plaintiff has properly
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tendered the puxr~~a~se price to Defendant and requested conveyance of i
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the above-described real pmoperty ac~oardinq to the terms of the Contract
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and that the tender by Defendant of a purchase money mortgage (See
Defendant's E~chi,bit No. 1) which would require Plaintiff to take title
subject to an underlying mortgage (See Plaintiff's bchibit No.. 4) was
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improper under the terns of the Contract and therefore constituted a ~
}areach of said Contract; it being the finding of this Court that the
term "purchase money mortgage", as used in said Contract, shall be
eonstnaed to mean a purchase moray first mortgage and shall not be
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oonstnyed to include a purchase money mortgage which would be 'wrapped- t
arviurd" an underlying mortgage unless the intention of the parties to so i'i
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provide was clearly stated under the textns of the written Contract.
4. Based on the foregoing findings of fact and onnclusions
of law, Plaintiff's prayer for specific perforn«arice is hereby granted
and the Defendant is here3~y ordered to convey marketable title to the
Plaintiff of the above-described real property, free frcYn all mortgages, ~
liens or other encimbaanees not specifically enunerated in the real '
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estate sales contract, within thirty (30) days fran the date hereof; it
being Plaintiff's obligation, thereupon, to provide Defendant w2th a -
Zhirty Thousand Dollar ($30,000.00) purchase money first mortgage
according to the terms of the Contract, provided, however, that in the
alternative, the Deferx3ant shall can and Plaintiff shall tak
vey, a title
subject to the underlying mortgage (See Plaintiff's ~i.bit No. 4
recorded at Clfficial Records Book 243, page 833, Public Aeoords of St.
Lucie County, Florida), in which event the Plaintiff shall provide a
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purchase money second mortgage to Defendant for the difference between #
Zhirty '1liousand Dollars ($30,000.00) and the current p~ri.ncipal balance
of the underlying mortgage: provided however, that in no event shall the
combined payirents on aooatuit of the underlying mortgage, and on aoootimt
of the purchase money seeor~d mortgage be in excess of $289.51 per month,
as provided for in the Contract; and that in all other respects the
terms of the said purchase money seoor~d mortgage shall be as stated in ~
said Contract. ;
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