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HomeMy WebLinkAbout0977 . ~27423 ~ ~ ~ AGREEMENT FOR DEED i In consideration of the terms and conditions hereinafter set forth, I. H. INC., a Florida Corporation hereinafter called ~he Seller, and ELYN C. HERRERA and JOSEPHINE G. REJANTE, as tenants in cQmmon 2050 Oleander, Apt. 209, Bldg 10, Ft. Pierce, F1. 33450 ~ hereinafter called ~he Buyer, Agree that if the Buyer shall first make the payments and perform the covenants hereinafter set forth on the Buyer's part to be made and performed, the Seller hereby covenants and agrees to cause to be conveyed to the euyes, in fee ~ simple, subject only to applicable building, zoning and land•use regulations by good and sufficient deed, that certain parcel of (~7~ land situate in St. Lucie County, Florida, to wit: ~p Apartment 209, ISLAND HOUSE'CONDOMINIUM, BUILDING X, PHASE III according to the Declaration of Condominium thereQ~, as recorded in OR Book 507, page 194$, of the Public Records of St. Lucie County, Florida. The Buyer agrees to pay to the Seller the sum o£ $44,990.00 as consideration therefore in the following manner: $ 2,000.00 cash in hand paid, the receipt whereof is hereby acknowledgedf $ 461.97 on or before the lst day of July , 1987 and $ 461.97 on or before the lst day of each month for five (5> years. Payment shall first apply to interest and then principal. The 60th payment shall be due June 1, 1992 and shall be in the amount of $ 35,420.15 together with accrued interest. All payments to be made at I177 Bayshore Drie, Apt. 103, Ft.Pierce, F1. 33449 or at such other place as the Seller shall from time to time desiqnate. NO PENALTY FOR PREPAYMENT. ~ The Buyer agrees to pay all assessments or impositians that may be legally imposed upon said property by the ISLAND HOUSE CONDOMINIUM OWNER'S ASSOCIATION, including, but not limited the maintenance fees of $97.50 per month. The Seller agrees to pay all taxes or impositions that may be legally levied or imposed upon said land (except £or the ~ maintenance fee due the owner's association) for the current year r and each succeedinq years, as and when the same shall respectively become due. The Buyer agrees to permit, commit, or suffer not waste, impairment or deterioration of said land or the improvements therein at any time. This agreement is NOT ASSIGNABLE, in any form or ~ashion. If a21 of any par~ of the property or any interest in it is sold or transferred (or if a beneficial interest in Buyer is sold or transferred and Buyer is not a natural person) without Seller's prior written consent, Seller may, at its option, require immediate payment in full of all sums secured by this instrument. If Seller exercises this option, Seller shall give Buyer notice 3 of acceleration. The notice shall provide a period of not less than 30 days after the date the notice is delivered or mailed ~ within which Buyer must pay all sums secured by this instrument. ~ If Buyer fails to pay these sums prior to the expiration of this ` ~period, Seller may invoke any remedies permitted by this ~ instrument without further notice or demand on Buyer. This AGREEMENT FOR DEED contains a pravisfon which requires ~ payment in full after five (5) years and thereby BALLOONS the ~ amount due. This instrument prepared by: Treasure Coast Abstract & Title Insurance Co. 401B So. Indian River Drive ~ G ~ Ft. Pierce, F1. 33450 . ~ ~~y ~ ~ ~ D.ecc~v~J s ~S 1~ n-. ~~-,,.,r Tzxes ~ ~Ue pn ~I'-s5 1-. ~ s Nur~ :~t T~, C'+. r . i:•; t.: ~ r.y. r C;c: C~~:'_ . r• :,i, lj~ ,.;i ~~';'i- C_..rt, St. Lue:Q, Co., Fla. E ~ - BOG!( 544 ~~a~: S`~ . _ '''":'~__f,r~_~; _ - _ .