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annually. The remaining balance of Twenty-six Thousand One
Hundred Forty-two Dollars and. Twenty-nine Cents ($26,142.29)
shall be paid off in monthly installments of Three Hundred Fifty
($350.00) Dollars per month commencing on February 2, 1978, and
a like sum each month until the balance due has been paid in
full. Each monthly payment shall be first applied toward inter-
est and the balance to principal.
3. If any monthly payment remains over ten (10) days past
due, a late charge for each delinquency each month of Ten Dollars
($10.00) shall be paid by the party of the second part.
4. The party of the second part agrees to permit no labor
lien or mechanics lien to be placed on the above property. It is
mutually agreed that this Agreement on the part of the party of
the second part does not infer any consent on the part of the par-
ties of the first part to do anything which might result in such
a lien, as the parties expressly decline to give consent to any
acts by the party of the second part which may involve encumbering
of the above property or the clouding of the title thereto.
5. As hereinabove stated, upon completion of payments to be
made by the party of the second part, with interest thereon as
agreed, the parties of the first part covenant and agree to convey
by warranty deed a good and merchantable title to the subject proper-
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ty to the party of the second part, his survivors, heirs and assigns,
~ free and clear of all liens and encumbrances, and except as to such
liens and/or encumbrances as may come into existence hereafter
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~ through no fault of the parties of the first part, and except as
~ to such liens and/or encumbrances as the second party may have im-
posed or permitted to be imposed on said title.
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6. In the case of the failure of the party of the second part,
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his survivors, heirs and assigns, to make either of the payments, or
any part thereof, or to perform any of the covenants on his part
hereby made and entered into, and such failure or default shall con-
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tinue for a period of more than thirty (30) days, this Agreement
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RICNARO O. fNEEO. JR. IA • ATTORNEY AT l.Ar/ 790 YIRONIIA AYElIt1E,9i1MTE 102 • fORi MERCE. fLORIOA 77160 - p0f119L2770
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