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RIDER ATTACHID TO ANll FORMING PART OF DEED FROM GENERAL DEVELOPPIENT
CORPORATION TO MARK STEVENS AND BETTY J. STEVENS DATm JANUARY 21,
1981
The Grantee (buyer herein) shall be required to commence construction
of improvements on sub~ect property not later than six (6) months ~
from date aforesaid. Construction of such improvements shall be in
accordance with recorded deed restrictions and applicable zoning
regulations and shall be pursued diligently to completion. In the
event the buyer fails to co~ence construction as aforesaid, seller
herein, at its sole option and discretion, may elect to repurchase the
subject property for eighty ($0) percent of the purchase price therein
specff ied. In the ~vent of such election to repurchase, the buyer,
its successors and assigns, agrees to reconvey the subject property
to seller as herein set forth provided however, that title to the
property when reconveyed shall be free and clear of any liens,
encumbrance, or other defects in title arising out of the buyers
ownership of Che property. Any expenses incurred to eliminate,
discharge, cancel or release encumbrances or clouds on title created
as a result of the grantee ownership, shall be borne by the buyer(s).
If the buyer fails or refuses to reconvey in accordance with the
foregoing, seller may elect to bring an action for specific performance
and, in such.event, the buyer shall be responsible for all costs,
thereof, including reasonable attorneys' fees as well as appellate
attorneys' fees.
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