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ifus Insl~ument Was Pre~~ared l3y:
~ (~ C. R. McDONAt D, JR., A11orA~y ~~
S~~OQ/~/ . _ C~I~~~ns f~d~~~l B~il~;~q
H. Pi~rc~, Florid~ 3145~
LEASE AGREEMENT
This Lease Aqreement made between C. R. McDONALD, JR., Owner,
and CARL F. SHINN and PHYLLIS ANN SHINN, his wife, Renters, it is
hereby understood and agreed as follows:
1. CARL F. SHINN and PHYI~LIS ANN SHINN shall for'the sum of
$365.00 per month (said sum to be adjusted upward or downward, depend-
ing on any change in the monthly mortgage payment of $325.00 per month,
said mortgage payment being payable to Security Federal) hereby leases
the following described property in St. Lucie County, Florida:
Lot 28, BloCk 160, LAKEWOOD PARK, UNIT 2,
~t = T,~~ci e C~~~nty, Florida.
For the term of ten years commencinq from the date of this lease
and continuing until terminated either by breach of the lease, exer-
cise of the option to purchase hereinafter given, or by mutual agree-
ment.
2. That during the term of this lease the tenants shall have
exclusive right to occupy said premises and shall be responsible for
maintaining and keeping said premises in its present or improved condi-
tion.
3. The landlord shall not be called upon to spend any monies
for repair of said premises and all repairs shall be that of the tenants.
4. The tenants m~y at any time during the term of this lease
r:
exercise a right to purchase said property for the same price that was
paid for said property, namely, $4,750.00, said purchase price being
payable in cash ~o mortgage.
5. That this lease is conditioned upon all the standard lease
clauses as contained in various standard lease forms, and the prop~rty
shall be fully insured by virtue of an escrow with Security Federal,
and the taxes paid from said escrow, and the rental is $40.00 per month '
more than the mortgaqe payment with Security Federal which includes
an escrow for taxes and insurance.
6. The tenants may make such alterations, additions, or do
whatever they wish with the property provided that none of their actions
shall decrease the security value of said property and the tenants shall
n^~K J~~ PAGf ~~~
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