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~+. CLOSINC DATE: This canti•~~ct shall b~~ clo9ed u~d the deed and pos-
session shall be deliv~~recl on ~~r Uefore the 18t. duy of , June. ....,.~
19.81..; unless extendc.-d by otl~~r provisions of thiK contract.
~~ PRORATIONS: Taxes. insur:ince, fnterest, rents and oCher expenses and
revenue of s~~id pru~~erry sliall be prornred as of lhe date of closing,
~. EVIDENCE OF TITLE: (Check ~(1) or ___ (2)) Within ... 45..... days
fram Che~date of rhis c~nrract,, C1~~ seller ahall. at his expense~
deliver to the buyer or his attorney.in accordance with Standard A on
Page 3, ~ either: (1) abstract (2) . title guarant~:e.
'. CONVEYANCE: Sellcr sh:~ll convey title to the aforesaid property to
th~ buyer by statutory wai-ranty deed subject to matters contained in
this contract and taxes for tt~e year of closin~.
ti. RESTRICTIONS AND EASEMENTS: Tlie buyer shall take title subject to
(a) Zoning and/or restrictions and prohibit~ons imposed by governmental
:~~ithority, (b) Restrictions and matters appearing on the plat and/or
co~rmon to Che subdivision. (c) Public utility easements of record.
~~rovided said easements are located on the side or rear lines of the
:~roPerty and are not more than six feet fn width. (d) Other..........
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I~«rther provided that none of the forep,oing interferes with the use of
~1~~ property for the purPoses as stated in this contract.
~EHAULT BY BUYER: If buver fails to nerform anv of the covenants of
t;tiis contract, all money paid pursuunt to this contract by the buyer
.--s aforesaid shall be retained by or for the account of the seller as
r~~nsiderati~n for the execution of this contract ~nd as .~qreed and
liquidated damages and in full settlement of any claic~s for damages.
t~. DEFAULT BY SELLER: If the seller fails to perform any of the covenants
oE this contract, the aforesaid money paid by the buyer at the option
of the buyer~ shall be returned to the buyer on dem.lnd; or the buyer
shall have only the right of specific perfotmance.
:1. TYPFWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten
provisions inserted in tttfs ferm shal2 eontroi all printed provisions
in conflict therewith.
i'. 011~ER AGREEMENTS: No agreements or representations, unless incorporated
in this contract shall be binding upon any of the parties.
13. SPECIAL CLAUSES:
~A. Upon execution of this contract by all parties, the Seller shall
execute a short-term non-interest bearing mortgage in the aoount of
the deposit (57,20U.00). The purpose of this mortga~e is to provide ~
security to ti~e Buyers because said deposit Will be released to the !
Seller. If the Buyers fail to perform under the terms of this contract, ;
this mortga~~ shall be null and void, shall no longer constitute an
encumbrance on the said property and there shall be no_obligation on
the part of the Seller to repay same. The monies represented by the
said nortgage shall in such instance be deemed forfeited deposit.
~, There shall be a Satisfaction of tiortgage executed by the Buyers upon
~ closing.
~ ~
~j B. Seller to hold a wraparound mort~~~e i~ the approxiaate amount of
4 $44,550.00 at llx for 29 years,/,apppaymentst t~ be in equal monthly install-
ments. Payments to include all obliRationa such se taxes and insurance
O in same amounts as Seller is responsible for With the primary lending
~ institution. The exact amount of the Wraparound mortgage Will be
~x determined on the closiqg date and Will be in the exact amount of the
=~ existing principal balance on the first mortgage vith Citizens Federal
Savings and Loan Association of St. Lucie County, Florida The parties here
understand that there can be no guaranty that the savi gs ~ 1oan wi~l a nrove the
wrap3rounc! mortgage or not attemptY a~e ?~~ S to cal~ same in the Lutugt.