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~CREE~NT_ FOR~~zE~ 7
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Made this day of June, 1980
in the year of our Lord, one thousand nine hundred and ei~ty Q
BETWEEN Fred C. Cook, a single adult II
~at•ty of the first part, and
AfITCHELL ~ ASSOCIATES, INC.,- an Indiana con~oratiaparty of the second part,
WITNESSF.`P11, That i f the said part~~ of ~tl~e second part shall first
make the payments and performs the covenants h~reinaft;er ment;ioned,
the said party of Lhe first Hart hereby covenant(s) and aF~ree(s) to I
convey and assure to the said party of the second part, their heirs,
executors, administrators or assign:, in fee simple, clear of all
encumbrances whatever, by a good anal sufficient deed, the- following- !
described land lying in St. Lucie County, Florida.
Condominium Parcel 3921 of Beachtree I Cluster as per the Declaration of Condomini~un
thereof recorded in Official Records Book 296, page 1438, and any amendments thereto,
of the Public Records of St. Lucie County, Florida.
THIS IS A BALLOON AGRED~~TI' FOR DEID, AND THE FINAL PAYI~NT OF THE BALANCE DUE UPON
MATURITY IS ~ 40 430.27 , TCIGEII-IER WITH ACCRUID INTEREST, IF ANY, AND ALL ADVANCE- i
MEN1S MADE BY UNDER THE TENS OF 'THIS AGREEMENT FOR DEID.
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and the said party of the second part hereby covenant(s) and agree(s) ~
to pay in the nkuuier prescrihcd ht:loty the sum of Forty Two Thousand
Eight Hundred Seventy and 66/100 Do] lays, with interest at the rate ~
of 10.75 per centum per annum, in the manner following until paid: ~
s t shall
Beginning July 10, 1980, the stun of X415.62 plu_ the required tax escrow amoun ;
be payable directly to first lieni~older me~itioned below, and a like. stun on the same day
of each month, with variance in amount allowed only as to the escrow amotult for taxes,
j if it changes, until Junc 10, 1985, at which time the entire remaining principal balance
shall become due and payable to said first lienholder, together with any interest due
thereon. i
This Agreement for Deed shall be tied directly to the present first I?brtgage as to -
amount, and upon Satisfaction of the first i?lortgage, a Warranty Deed shall be issued.
And to pay all taxes, assessments or impositions that may be legally
levied or imposed upon said land subsequent to the year nineteen hundred ~
seventy nine, , and to keen t;he buildings upon said premises
' insured in some company satisfactory to the party of the first part,
and payable for the parties, respectively as their interests may
appear, in a sum not less than the amount required by first lienholder.
during the term of this agreement . Debt incurred hereunder may be prepaid in
whole or in part at anytime without penalty.
The above-described premises is e~~cumbered by the lien of the
following-described mortgage (herei»after referred to as mortgage):
First hbrtgage to First Federal Savings and Loan Association of Fort Pierce, as
~ recorded in Official Records Book 310, page 261 of tl~e Public Records of St.
Lucie County, Florida, from the Party of tl~e First Part hereunder.
The party of the second part #s required t~ furnish evidence (at least quarterly) of
having made monthly payments in required amount to first lienholder. r
This, Agreement for Deed is not assumable or assignable. -
I If, due to this-instrument or the effect hereunder, or due to any reason beyond control
of the party of the first part, the first lien on this property is accellerated by ~
first lienholder, than the debt incurred ~n this Instrtment by party of the second
part shall also be accellerated and become due and payable immediately upon demand
from party of first part hereunder.
80
K~~ P~6E