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i8 hereb1 aoknowledged. whioh sum is to be deduoted f~om tbe purohasa prioe. when sale i8
oompleted;
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142.600.00 oash upon the deliver1 of warranty deed of said property in the manner here
inafter provided;
499.000.00 in deferred installments In thtee equal amounts. payable on or before one.
I two ond three years after date respeoti'Yely. with interest at the rate of eight per oent.
t interest payable annually. It being understood any mortgages on the property at the time
i ot olosing will be dededuoted from the purchase m~ney mortgage heretofore mentioned, but
,- in no t}vent to exoeed U.e 8UID of $99.000.00 nor to fall due within the next ten months.
I that is to scid the mortRago assumed to be of the like tenor and effeot to be giyen.
I Said, installments shall be evidenoed by three promissory notes payable at Parmers
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I Bank and Trust ~omp8DY. ~oid notes and indebtedness thereby represented shall be secured
by a purchase mon~ mortgage on said real estate. which mort~ag9 shall be in the form of
those no~--------------------------_________
in use in Falm Beaoh County. Plorida. being the long form prepared by the H. & W. B. Drew
Company of JaokS) n'Yllle. Florida.
IN C0N3ID3RATION WH3R30P. the sald Vendor8 do promise-and agree to convey in fee sim-
ple (subjeot as aforesaid) unto the Purchaser by good and suffioient warranty deed oontain-I
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ing full oovenants of warranty. a marketable title to the real estate above described. l
~he Vendors oovenant and agree to deliver to the iurohnser within a reasonable time
an abstraot of title to said real estate. which abstract Bhall bring the title down to the
da te of this c,ntraot or later and shall show 8 good l'ecord unenoumbered fee simple t1 tle
in the Vendor exoept as herein otherwise specifically indioated or provided.
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~he Purchaser shall have rorty (40) days from and after the delive~ of said abstract
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of any objeotions to said title. If this notification be not given within the time stated,;
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for the examination thereof. and within said period shall notify the Vendors in writing
then the 8ald title shall be oonolusively dee~ed to be acoeptable to the rurchaser. aud
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the trar.saction shall be closed and consumnated at or bofore the expiration of said period
of forty (40) days or at the ~ption of. purchaser 90 days from this date. In the event
that the attorney for the Purchaser, upon hiB disoretion reasonably exercised, finds defect'
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of a caterial nature in the soid title and notification thereof is made in writing as
aforesaid, the Vendor shall have a reasonable time thereafter to perfect the title and
shall malee e'9'ery reasonable effort to do so. If the detacta lu the title. if eny exist.
be inourable upon suoh reasonable effort or are not cured within 88id realh)l18ble time,
then the Purchaser may demand a return of all earnest mon~s and canoel this contract or
waive the defects in the title and acoept the property without deduotion on occount of
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suoh defeots. If the defects, if a"1 exist. in the title be incurable upon auoh reasor.able'
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nest mJneys. assuming of oourse that the Purchaser refuse to waive the defects in the title;
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effort, then the Vendor may oanoel thio oontraot upon returning to the ?ur~haser all ear-
1n the manner above proYided.
If the title be aooeptable to the Purohaser, this transac-
tion shall be olosed by the delivery of warranty deed, the making of the balan08 of the
oash payments. ond the delivery of note and mortgage not later than forty (40) days from
delivery of abstraot of title, as aforesaid. or at option of pur~haser 90 da1s from th18
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date;
It is understood and asreed that the said real estate shall be conveyed free and clea
of all liona for assesements. the taxes for the ourrent year, ~he intorest on existing
mortgages, all rents and premiuma for insuranoe, if any. shall be adjusted and prorated
between the Parties hereto 8. of the date of Uotober 2Ird, 1926.
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