HomeMy WebLinkAbout2604 FOUR HUNDRED ($400.00) DOLLARS to the Seller's agent SAM
MEDVEDEFF at 405 Naranja Avenue, Port St. Lucie, Florida, of
which 50 percent or TWO HUNDRED ($200.00) DOLLARS of each months
rent paid shall be credited to the purchase price.
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C. The Sellers hereby agree to take back a
purchase money second mortgage for the balance of the purchase
price, being approximately TWENTY-FIVE THOUSAND FIVE HUNDRED
(525,500.00) DOLLARS, said mortgage to be amortized over a Twenty
(20) year period at a rate of interest of 1 percent less than the
prevailing mortgage rate of interest being offered by First
Federal Savings and Loan Association of Fort Pierce. Said
mortgage shall also contain a clause. providing for the adjustment
of the rate of interest paid under the said note and mortgage
every Five (5) years over the life of the mortgage at the
discretion of the Mortgagees. Said adjustment in any event shall ~
always be 1 percent less than the prevailing mortgage rate of
interest being offered by First Federal_ Savings and loan
Association of Fort Pierce.
Buyers may exercise this option by giving Sellers
written notice thereof at the last known address provided to the
Buyers by the Sellers, on or before the time herein set for the
expiration of the option. The Buyers may exercise this option at
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any time prior to the expiration of the One (1) year period with
out penalty. Further the Buyers may prepay the purchase money
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second mortgage to be held by the Sellers at any time prior to-
its maturation date without penalty.
Sellers shall have obtained or shall obtain prior
to the closing hereof an Abstract of Title certified to at least
~ the date of closing, that Abstract showing good and merchantible
title, subject only to this agreement, taxes and assessments not
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yet due and payable, and such easements, restrictions,
~ reservations and other related items of record.
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Title in the aforesaid property shall be and is
reserved to the Sellers, their heirs, executors, administrators,
successors and assigns until full performance by the Buyers as
~l.4 P, Ol D H. GOLOMAN
required hereunder. Upon full performance by the Buyers, the
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a 5't LUCIE,FlA.3716Z Sellers shall deliver to the Buyers a fee simple title to the
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