HomeMy WebLinkAbout0025 ~lI1C~ the said second Party liei•eby coveiiants anci a~rees fio pay to th~
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S11t1 11T`Si ~~~irry Llle Ll)L~ll St1il1 ul ~~-+u~iilJV.iiv iil `LitC .iviivivill~ iii~iill3t'i .
During each year from the date hereof, the second party s}zall pay
the sum of ~4,6U0.00, plus accrued interest on the unpaid principal
at the rate six per cent (6°,~,) per aiinum from date hereof, said pay-
ments to be made not later thaIl January 15 of each year, commencing
January 15, 196?. Upon the plyment of each sum ot ~1,150.00 totvards
redt~ction of the principal sum, tivhether by payment of the annual
installment or Uy prepayment, ~vhicn prepayment in tivhole or in part
is hereUy granted, the First Party shall release hereFrom and ~ieed,
by tYarranty Deed, unto the Second ~.~arty, any one of the foregoing
described 4U lots. Such lot or lots to be relzased shall t~e selected
Uy the Second Yarty.
If default is made in ~he payment of any installment ~vhen due,
then at the op~ion of the First Nar-~y, and ~vithout any other notice,
all the remaining installmenfis shall Ue due and payable at once.
The Second Yarty agrees to pay all costs of collection including a
reasonable attorney's fee in the event of any default hereunder.
The Second P.arty agrees i;o pay all taxes, assessments or impositions
that may be legally levied or imposed on said lands subssquent to the
year 1965. In addition the Seco nd Party agrees to assume and pay any
and all outstanding liens upon said lands imposed by the City of Fort
Pierce, Florida.
The First Party shall deliver only one master abstract unto the
~ Second Farty upon the lan~s above described, which shall be delivered
upon demand by the Second Party. If the title to any lot should not
be marketable, then the First Party reserves right to substitute
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F another lot in lieu thereof, situate in Fort Pierce, Florida, and of
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i: equal value to the lot so deleted from this agreement because of its ;
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unmarketability. ~
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In case of the failure of the Second Party to make any of the ~
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~ payments or any part thereaf as pravided for herein, or ta perform ;
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any of the covenants on their part hereby made and entered into, this
contract shall at the option of the First Party be forfeited and
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= terminated, and the Second Party shall forfeit all payments made by ~
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them on this contract, with the First Party having the right to
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