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AGREEMENT FOR DEED
Articles of Agreeme-nt made this 3 day of July, 1980, between
Washington Real Estate Inc., a Florida-corporation hereinafter referred
to as seller and L. Kenneth Buffett and Gloria M. Buffett-his wife, 901
Harbor Drive, Miami, Florida, 33149, hereinafter referred to as buyers.
WITNESSETH that if the buyers shall first make the payments and
perform the covenants hereinafter mentioned on their part to be made and
performed, the seller hereby covenants and agrees to convey and assure to
said buyers their heirs, executors, administrators or asstgns in fee simple
clear of all encumberances whatever -by a good and sufficient warranty deed
to the following described property to-wit:
Lot 1, Block A SANDALWOOD ESTATES SUBDIVISION, according.
to the Plat thereof as recorded in Plat-Book 20, page 5
of the Public Records of St. Lucie County, Florida
and said buyers hereby covenant and agree to pay the seller or its assigns
at 100 Cruiser Rd.,-N.,North Palm Beach, Florida, 33408, the sum of
in the following manner to-wit: -
1. $3.,900.00 upon the execution of this agreement, receipt of which
is hereby acknowledged.
2. $75.56 per month which is an interest only payment, so interest
being calculated on the unpaid balance due at the rate of 9.75
-per annum. Said payments shall commence one month from the date
of this agreement and a like sum shall be due on each like succeed-
in period until the entire remaining principal balance is paid in
full as provided below. Seller hereby agrees to apply the above
monthly payment directly toward the monthly interest payment due
and payable under the mortgage covering the above described pro-
. perty and various lots in Sandalwood Estate .Subdivision, as re-
quired under that certain mortgage executed by the seller on-
August 14, 1978, in favor of First Federal Savings and Loan Assoc.
of Fort Pierce, Florida, recorded in Official Record Book 292 at
Page 2231 of the Public Records of St. Lucie County, Florida, in
the original principal amount of .$425.000.00.
3, $ 9,300.00 due and payable in one lump sum on April 15, 1983, either
~ directly to First Federal Savings and Loan Association of Ft. Pierce,
for the release of the above described property or at the buyers'
option payable to the seller who hereby agrees to apply the entire
amount toward the above described mortgage held by First Federal
Savings and Loan Association of Ft. Pierce, Florida, in order to~
obtain the release of the above described property from said mort- Y
gage•
The parties further agree and covenant to the following:
A. PURCHASER NOT PERSONALLY LIABLE. The obligation created by
this agreement shall be a charge against the land and in -
event of default or termination the buyer shall not be personally
liable. In the event of failure of the buyer to pay any install-
went-when due the only right of the seller arising thereunder
shall be that of termination of this agreement and retention of
all monies previously paid as liquidated damages.
~ B. TAXES. Buyer agrees to pay all real estate taxes and assess-
ments on this property due .from this date forward. Taxes for
this year will be prorated as of the closing date of this agree-
ment .
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: ' - ~ ~ i•. is 4 CLERK C1RCiRT COURT, ET. WGE C0. H~c~m'
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