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March I8, I460, recorded in MortgagE Book 164, page 63, of the
public records of St. Lucie Ccunty, F~orid,a, to secure an original
princzpa~ sum of Seven Thousand Two Hundred Dollars ($7,200)~.
The p~rties of the first part specifically covenant ar.d agree ~
to hold the parties of the second par~ harmless wi~h respect
to said mortgage lien and debt and no~ to permit said indebtedness
to becom~ in default and further coven~nt and agree that prior
to or at ~he time of the dischar.ge of the -indebtedness secured -
by this agreement for deed, they will cause ithe real property -
describ-ed herein to be re]_eased.from the lien and operation
- of said mortgage by a satisfaction of mortgage in recordable
forin. -
The parties of the secc~nd part hereby further covenant
: ~ and agree to pay to said parties of the f~.rst part as considera-_
tion therefor the sum of Twenty-Two Thousand Dollars ($22,000),
which shall be paid at 800 Orange_Avenue, Fort Pierce, Florida
33454, with interest from date at the rate of 9$ per annum, in ~
~ - monthly installments, as follows: $177.03 on the lst day of :
3une, 1975, and a like sum on the corresponding day of e~ch .
_ like succeeding periott thereafter until the whole be f~~~.y paid.
- Each instaliment first shall be applied in payment of the - ~
_ interest and then.on tne unpaid balance of the principal sum. If ~
- default is made in the payment of any installment when due, then -
at~the option of the party of the first part,-its successors Qr
assigns, and without any other notice, aI1. the remaining install-
ments shall b~ due and payabZe at once. Privilege is given to
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pay two or more installments at any installment maturity date,
~ but this-shal~. not extena the time of maturity of any subsequent -
- installment. - -
_ ~ ~nd the parties of Lhe~second part further covenant and ~
agree as £ollows: ~ ~ -
. l. To pay a~1 taxes, assessments or ~mpositions that_ -
_ may be leqally levied or imposed u~on said land`subsequent ~o -
December 31, 1974. - ~ "
- " -2- - -
FEE, PARKER & FEE, P. A.
ATTORNEYS AT L.AW BOOXlV~O PAGf~~~
~ POST OFFICB BOX f000 '
FORT P~ERCE, FiOflIDA ~34E0
T[~[rHONt: I9001 41f 1-bQ20