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521694
AGREEMENT ~N~D MORTGAGE
Re: Lot D , Block 2 , Scction 14, Township 34 South,
Range 40 East, QUEENS COVE UNIT l, as per Plat thereof
as recorded in Plat Book 11, pages 12A, 12B and 12C, of
the Public Records of St. Lucie County, Florida.
In consideration of the payment of $ 8,000.00 to~UEE~iS COVE PROPER-
TIES , INC . by W I LLIAM J. BECK~ 7~'o s. NAR ~~SS ~S ~vy ~^~v~.t c ~c ~~r.vyc
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title holders to the above c~escribed property, QUEENS COVE PROPERTIES,
INC. hereby agrees to provide a21 improvements to said property, namely,
paved roads (built to County specifications), water lines, underground
electric and telephone, and access to the Atlantic Ocear. beach. The
only additional expense for utilities will be the water tap-in fee to
be paid at the time water service is requested by the owner, and will
be at the current rate as authorized by the Florida Public Service
Commission.
If, for any reason, development does not take place within one year
from date of this Agre~ment, ai~ monies received for this purpose will
be refunded~with accrued interest. All monies will be he13 in a special
account for this purpose.
Payments shall be made as follows:
$ 1,000.00 Down Payment due upon execution of this Agreement
$ 7,000.00 Balance - to be paid as follows:
36 mon*_hly payments of $232.51 each. First payment
due April 15, 1981, and each 15th day thereafter
until paid.
As further consideration for the monies due, the undersigned do
hereby grant, convey, bargain and sell unto QUEENS COVE PROPERTIES,
INC. a Mortgage lien on the above described property for the full
perfarmance of their each and every agreement for the payment of the
within note in accordance with the terms hereof, and when so per£ormed,
then this Mortgage and the estate hereby created shall cease, termin-
ate, and be null and void. If any of the above required payments shall
not be promptly paid within fifteen days after the same become due, then
the entire balance and all accumulated interest shall forthwith, at the
option of QUEENS COVE PROPERTIES, INC., its successors and assigns,
become~fully due and payable. Pre-payment of this note may be made
at any time ~~ithout penalty.
Date ~~~ ~/ QUEENS COVE PROPERTIES, INC.
,
ATTES i '"~(,t~,~~ B . _ ~-~.--,~~
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_ Shirley J. rdenas, Secretary Alex 8. Cardenas, President
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J•. i d in the Presence of :
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• ~ Received z / ~ in Pavment Of Taxes
~ Due On Class "C" mtanq~ble Peryonal Prop~rty.
Purauan't To Chspte~ 71. 134, Acta Oi 1871.
ROGER PORfiAS ~~
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