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MOB I LE HONE LOTS 51594~3 i
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ARTICLES OF AGREEMENT, made this 2Sth day of F~bruarv , 19 ,~„_,
between AVON MANOR PARK, iNC., a Florida corporatio~, hereinafter called the Seller~ and
. - =.~Y` P
Patrick L. Far~ar ~ Ma~~ A. Farrar. H/k, i 109,,.usnst J.,y Lane. FoRt Plerce, F)orida 33450
hereinafter called the Purchaser:
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WtTNESSETH: That if the Purchaser shall first make the payments and perform the
covenants hereinafter mentioned on the part of the Purchaser to be made and performed, the
Seller hereby covenants to convey and assure to the Purchaser, in fee simple, by good and
sufficient deed, clear of aii incumbrances whatever, exceptin~ unpaid taxes for the current
year the use restrictions hereinafter set forth, and reservat~ons and easements of record,
the following described la~d situate in St. Lucie County, F)orida.
Lot,~4 of Biock ~ in AYON MANOR SUBDIVISION,
.
(Unit No. 1, according to the plat thereof recorded in Plat
Book 16 at page ~y, Public Records of St. Lucie County, Florida.
~~O~jj8~49ylocated~thereon~ ~i~ehO~ Serial t122197, Title No.
And the Purchaser hereby covenants as follows:
l. To pay to the Seller the sum of $ 16.0~0.00 for said land in the
manner following: $ ~,~5~'~` cash in hand paid, the receipt whereof is hereby
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acknowledged; $ a3~' ~~~ r on or before the ist day of
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' , Apr i 1 , 19, 80 . and $~S'~~:~ r`'F on or before the 1 s t
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day of each month thereafter until there shall have been paid the baiance of the principal
sum together with interest on principai balances remaining unpaid from time to time at the
rate of 15~ per annum, computed monthly; al) payments to be first applied ta interest
then due and the remainder to principal; and other sums of money provided for in this
ayreement. All payments to be made at the existing office of the Seller or such ather
place or places as the Seller shall from time to time designate. N~ PENALTY FOR PREPAYMENT.
2. To pay al] taxes, assessments or impositions that may be legally levied or
imposed upon said land for the current year and each succeeding year, as and when the same
shall respectively become due.
3. To permit, commit, or suffer no waste, impairment or deterioration of said.
land or the improvements thereon at any time.
4. To keep the buildings naw, or hereafter erected, on said premises insured in
some company satisfactory to the Seller against fire and wi~dstorm risks in a sum equal to ,
tl~e full insurable value thereof with loss payable to Seller.
5. In the case of the failure of the Purchaser to make any of said payments, or
any part thereof, or the interest thereon, or to perform any of the covenants on tltic Pur•-
c+:aser's part hereby made and entered into within 30 days next after the same beccxnes ~i~~e
and payable or if each and every the agreements, stipulations~ conditiows, and covenants
of this agreement are not fully performed, compiied with and abided by, then, at the option
of the Seller: (a) This contract shall be forfeited and terminaied, and the Purchaser
shali forfe+t all payments made on this contract; and such payments shall be retained by
ihe Seller in full satisfactio~ and liquidation of all damages sustained by the Seller,
and the Seller shall have the right to immediately re-enter and take ossession of the
premises aforesaid without being liable to any action tiierefor; or~(b~ AI1 sums stipulated
, to be paid to the Seller may be declared due and payable forthwith, and the Seller may
Foreclose this contract in the same manner and form as if it were a mortgage, and i~~ w9~ich ~
event the Purchaser ayrees to pay all costs, charges and expenses thereof includin4 a rea-. ;~
sonable attorney's fee and title searches if this contratt shall be placed in the hands of
an attorney for foreclasure or collection. And in the PvPnt the Purchaser shall have failed
to pay any taxes, assessments~ impositions, or insurance premiums. or other sums of money pay~
able by virtue of this agreement, the Seller may pay the same and ali sums of money so paid
shall bear interest f rom date thereof at the highest lawful rate then allowed by the laws vf
the State of Florida and shall be secured hereby, F'ailure by the Seller to execute any of
these rights or options herein provided shall not constitute a waiver of any righ[s or optior
under this agreement accrued or thereafter accruing. -
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6~~0l~tJ41 P~GE~,c~~8 ,
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