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balance of SIXTY-SIX THOUSAND FOUR HUNDRED FIFTY-TWO DOLLARS
($66,452.00), plus accrued interest, if any.
THIS IS A BALLOON OBLIGATION AND FINAL PAYMENT AND/OR THE
BALANCE DUE UPON MATURITY IS SIXTY-SIX THOUSAND FOUR HUNDRED FIFTY-
TWO DOLLARS ($66,452:00) TOGETHER WITH ACCRUED INTEREST, IF ANY,
AND/OR ADVANCEMENTS MADE BY THE VENDORS UNDER THE TERMS HEREOF.
It is represented and agreed that an underlying, prior mort-
gage covering the aforesaid premises, held by First National Bank
of Fort Pierce, is not assumed and/or transferred, and shall remain
the responsibility of VENDORS, PROVIDED, that in the event this Agree-
ment for Deed unto VENDEES causes acceleration of said prior mortgage,
then in such event, VENDEES shall forthwith be solely responsible,
within thirty (30) days, to pay all principal.and interest due First
National Bank of Fort Pierce, all of which shall be a credit to the
extent of payment under this Agreement for Deed. Failure to comply
with this requirement will be an automatic, self-executing default
under this Agreement.
VENI~EES do hereby agree to pay all taxes, assessments or
impositions legally levied or imposed upon the lands subsequent to
closing and to carry maximum insurance upon all improvements with an
insurance carrier satisfactory to VENDORS. The proceeds of any loss
payable as their interests may appear.
Failure of VENDEES to make any payment due to VENDORS, or
default in payments or performance of any other covenant made and
entered into, shall entitle VENDORS, at their sole option, to either:
accelerate all ~ums remaining due and owing under-this Agreement for
Deed and/or foreclose or, alternatively, to declare forfeiture and
termination, in which event, all~sums paid under this contract shall
be forfeited and such sums shall be retained by VENDORS in full sat-
isfaction and liquidation of all damages, in which event, VENDORS
shall have the right to re-enter and take possession of the premises
without liability in law or equity. All remedies are cumulative.
In the event of default by VENDEES, VENDORS shall be en-
titled to reasonable attorney fees and court costs incurred under
this Agreement.
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