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Total Purchase PriGe $
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Deposit with this Contract - ~
which is hereby acknowledged $
~ Other ~ $
Ba~.ance of Purchase Price due by
Cashier's Check at Time of C~osing $ ~
~ The deposits made.pursuant to this agreement by Buyer ,
i to Developer, dUring construction~of C~iELOT GARDENS CONDOMINIUM,
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shall be transferred to and held in an interest bearing
escrow accoun~ with GEORGE; W. SOMMER, P.A., TRGST ACCOUNT,
~738 Colorado Ave., P.O. Box 2210, Stuart, Florida 33495,
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_ pursuant to the provisions of Section 718.202, Florida ;
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j=Statutes. The Developer may, at his soie option and election, i
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~ ~~request the escrow agent anci the escrow agent shall deliver, ;
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~iupon said reyuest, to Developer all-cleposits in excess of ~
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~~10$ of the sa~e price ~or utilizati~n by the Developer of
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~~actual construction and development of the condominium ~
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4~property in which the unit set forth in this instant contract }
i~is located. The Buyer may obtain a receipt for Buyer's
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~ deposit from the Escrow Agent upon rer~uest.: Any interest ~
~ paid thereon by the Escruw Ac~ent depositary shall be disbursed ~
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liaccording ~o said statute and this agreement. Buyer sha11
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~~give tne Escrow Agent written instructions to disburse the ~
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. ~~deposit and all int~rest paid thereon (if any) to the Developer ~
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'i ~fat the closing of the transaction. - ~ ~
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i~ ARTICLE III
CLOSING DATE
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The Developer, subject to the conditions of this agreement, ~ `
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~hereby obligates itself to construct the condominium buildings-
~on the aforementioned property substantially iii accordance ~
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~with the Site Plan drawings prepared by Betham Grou~, Inc. ~
~with offices in Jensen Beach, Florida; a copy of the complete
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~~plans and specifications for the construction of the units ~ -
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~ fbeing available for inspection by the Buyer at the sales '
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GEORGEW.SOMMER, office of the Developer, and to have the Buyer's apartment
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~rroAN¢r at uw
PpST OffILE BOX 2210 - ~ ~
~ STUART. fIORIDA 33495 ~ ~ ~ s-,
p05) 28).2233 ~
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000K 376 P~GE i.~?C~~
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