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- DEPOSIT RECEIPT AND CONTRACT
.FOR PURCHASE AND SALE ' ' ~ - .
PHIT,IP A. HiO~t and MARS HOII~~, his wife, of Fbrt Pierce, Florida
(461-7017) , hereinafter called ~ "SELs_~", arx3 C~_ RALD S. JAMES, Of Fort Pierce,
Florida (461-2500) hereixsafter called "BZIYFdt", hereby agree that the Sellers •
shall sell and the Buyer shall buy the fol3,owing described po4+operty upon the .
ts~rcns ar~d conditions heaneinafter set' forth. - '
1. I~GAL DE9CRZPTZO~?T: Real property boated iri St. Iucie Qounty, Florida,
to-wits ~ '
The Weft 1/2 of the followiYw described ~ ;moperty: . .
' In Sections 24; Township 35 South, Range 39 East. Begin:•at ~
" the Southwest corner of the~8ast Half (E 1/2) of. the South-
- west Quarter (SW 1/4) of the Southwest Quarter~(SW 1/4) run
North along the West line 63,5.74 feet, more-or less, to the
Southerly right-of-way of Okeechobee Road;_ th®nce Northeast-
erly.along Road ri,ght~of-way 300 feet; thence South with '
West line of East Half ~E i/2) of. the Southwest Quarter (SW 1/4)
of the Southwest Quarteac (SW i/4),.746.91 feet, more or less,
to South S~ct3on l,ine;'thenoe West along Seation line .281.27 •
feet, more- or `less,, to Qo3nt o£ Beginning: Containing 4,2 aores.
AND: ~ ~ ~ -
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In Section 24, Township 35 youth, Range 39 East. From South-
west corner of East Half (E 1/2) of the Southwest Quarter
(SW 1/4) of the Southwest Quarter (SW 1/4), run North 635.74
~~feet, more or less, to South right~of-way of Okeechobee Road;•
thence Northeasterly along Road right-of~-way, 300 feet; thence
, Southerly 21.26 feet for Point of Beginning; thence Northeast-
erly 219.32 feet; thence Southerly 255.54 feet; thence Easterly
164.59 feet; thence North 315 feeti to said Road right-of-way; .
thence lortheasterly 10.63 feet; thence Southerly 866.84 feet-
- to South Section line; hence West .on Section line 380.33 feet=
thence North 72-5.65 feet, more or'less, to point of Seginnin5.
~ Conta~,ning 5.88 aces. ~ -
ZESS AND EXCEPT 0.83 coxes w~3th 175 foot frontage on Okeechob®e
Road, located adjacent to :Kiokey•s Gulf•Station. Sae Exhibit 1
for reference.
2. PUt~SE PRICE: Tne fatal purchase prive i.s the sum
of ~ HU1~ItED TwFN'i'X=FIVE Tt~Ot1SA~ID DO~iS ~ $225, 000.00
DF~05IT: ~`IVE TF~OU.~ND DO~S~tS, to be held by .
. $ 5,000.00
PN~Y MOiE AND NOSE: ~ •Sn the total _
sun of ~ $159,750.00
Repayable. over ten (10) equal annual installments
of principal and.interest, camnencinq one year
from closing at 8-1/2$, with right.tp prepay not
to exceed 29$ of purchase prioe'fn the year-of sale;
.thereafter, full right to prepay without-penalty ar ,
restriction. - - -
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CASH AT - $ 60,250.00
3. TIa~.L FOR AOCEPTA'~CE: Sf thfs contract is not executed by Sellers and Buyer .
oa: or befare November 21, 1978; the afaresaid deposit shall be, at the option
of the Buyer, to and this Agreeioent shall be null. and void. T'!'19
dato of ooantraot, far pu~oaes- of ,shall bo ragarcied as the .date #
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BOOK~~ Pl~GE J`t~t -
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