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AGREEMENT AND MORTGAGE
Re; Lot C , Block 2, Section 14, Township 34 South,
Range 40 East, QUEENS COVE UNIT l, as per Plat thereof
as recorded in Plat Book 11, pages 12A, 128 and 12C, of
the Public Records of St. Lucie County, Florida.
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In consideration of the.payment o~f $ 8,000.00 to QUEENS COVE PROPER-
/~.y9'/ BRITANrwcc~p,i
TIES , INC . by ROYCE i~ . COLN and EVELYN M. COLN SA~vTA ANA, c.ac~~-.
title holders to the above described property, QUEENS COVE PROPERTIES,-
INC. hereby agrees to provide all improvements to said property, namely,
paved roads (built to County specifications), water lines, underground
electric and telephone, and access to the Atlantic Ocean 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, 3nd 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
fram date of this Agreea,ent, aiI monies received for this purpose will
be refunded with accrued interest. All monies will be held in a special
account for this purpose.
Payments shall be made as follows:
S 1,000.00 Down Payment due vpon execution of this Aqreement
$ 7,000.00 _ Balance - to be paid as follows:
Entire balance plus 12% interest due and payable upon
completion of improvements to above described property.
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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 descr~bed property for the full
performance of their each and every agreement for the payment of the
within note in accordance with the terms hereof, and when so performed,
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 without penalty. ••
Date l' QUEENS COVE PROPERTIES, INC.
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,y A'~"~'ES~ : ~ gY : ~c~~~i~~%/_ ~ ~:--
' ~ Shi ~y J. enas, Secretary Alex B. Cardenas, President
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a . (Seal) ~,
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Sic,~ned in the Presence of :
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' Royce W. Coln
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. Bvel . Coln
Recsived • ~~
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Pursuaru To Chapt~r 7~~ ~~~ ~~ ~ '
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~~aK351 PA~E~.~23 ~,~, ~~
;~ , k circ~it cou-1. st Lud+, co., Fla
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