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3. FIVE THOUSAND NINB HUNDRED EIGHTY SEVEN and 38/100 DOLLARS (15.987.36)
in cash ~ certified funds or cashier's check upon execution of this Agreement for Deed
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(or such greater or lesser amount as may be necessary to complete payment of the
purchase price aRer credits. adjustments and prorations) .
Commencing the 1st day of May. 1980, and on the 1st day of each and every
month thereafter , Purchaser shall remit to Seller at his above address , or at such
other address as Seller may from time to time request. the sum of 1686.00, said sum
being the monthly payment of principal and interest together with escrow for lases
as provided for in the above-described first mortgage held by First Federal Savings
and Loan Association of Martin County . In the event payment is not received by Seller
on or before the fifth (5th) day of each month, Seller shall be entitled to recover a
late charge from the Purchaser in the amount of four percent (4$) of the monthly pay-
meat which is delinquent.. Seller shall promptly remit to the mortgagee the payment G
of 1686.00 upon receipt of payment from the Purchaser . ~"1
Further, Purchaser agrees to assume the responsibility for the regular quarterly
condominium association assessments, .together with any increases in said assessments
or any special assessments that may be made or levied by the condominium association .
As of the date of this Agreement for Deed, the regular assessment for the second
quarter of calendar year 1980 , including any special assessments , have been prorated
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between the parties.
Provided payments are timely made by the Purchaser, Seller warrants and rep-
resents that they will keep current and in good standing the above-described first
mortgage and that they will not refinance or renew said mortgage or otherwise further
encumber the above-described real property while this 'Agreement for Deed is in force
and effect.. In the event the said mortgage is permitted to become in default solely at
the responsibility of the Seller, Purchaser reserves the right to withhold any further
monthly payments due hereunder until such time as the default has been cured and any
such withholding of any payment by the Purchaser upon such conditions shall not be
a default by the Purchaser under this Agreement for Deed.. _
It is understood and agreed by the parties that the Srst mortgage holder may ,
from time to time, adjust the escrow account requirements for real property taxes.
Therefore, upon receipt by the Seller of such notification of adjustment by the first
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