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HomeMy WebLinkAboutPurchase Agreement Unit 17, Blk 585, Lot 12; ACCOUNT NUMBER DATE PURCHASER'S COPY (PERMANENT) 1. PURCHASER (S) LAST ADD AcrEPTANCE AND GUARANTEE HOMESITE PURCHASE AGREEMENT ® GENERAL DEVELOPMENT CORPORATION • 1111 SOUTH BAYSHORE DRIVE •MIA M 1, f�OR IDA 33�1l Lich I FIRST Li LL i_ e /V FIRST MIDDLE INIT. MIDDLE INIT. TELEPHONE CITY-4J-1Sri t ' I '� I- STATE .& < kl' `-' I S'-- ZIP OR COUNTRY 2. DESCR%PTION OF PROPERTY: UNIT / LOT(S)! BLOCK �' l Isr+e 5 F B /';�. {� (Name of subdivision) %7 Lt3, A-, L) S , according to the plat of record in i /V Di ll COUNTY, FLORIDA. 3. INSTALLMENT PURCHASE PRICE:I1 5. PAYMENT INFORMATION: U. S. Currency .... $ 7, Less Initial Payment ......$.L1t� INSTALLMENT BALANCE ........$ q 910 4. We will apply the Initial Payment as follows: as the Minimum Down Payment ..ilL— as Additional Down Payment ..... Ll C/ ' c TOTAL ......... $ , 2 L A. Standard Payment Completion Date i*4.-.I..q B. Standard Monthly Payment $ 1 -I'll"L ( (U.S.) due and payable by mail or in person, on the loth of each month. The unpaid balance shall bear interest at the rate of 7% per annum. S. NEXT PAYMENT DUE_.` 10,15., HIGHLIGHTS OF THIS ACCEPTANCE ANN GUARANTEE (These highlights are subject to all provisions of the Conditions of Purchase appearing on the reverse ide. ) • You have the privilege 'gi transferring your equity in this property to a home or other available property of equal or higher value in one of our Florida communities. (SEE SECTION 6.) • Without extra charge to you: • We will pay all real estate taxes on your property until we have deeded your property to +•ou or this agreement is recorded. (See Section 5.) • We will pave your street not later than the end of the year in which your Standard Pay- ment Completion Date occurs. (See Section 2.) • We will issue you a Warranty Deed and title insurance policy when you have made all your payments. (See Section 3.) •A➢'�yNACW i%71 I BASIC AGRE.FNIENT We (General Development Corporati (the purchaser or purehlaslrfmm?,ed on the property described in this purchase agre stat(, the price and describes the other terms of this purchase. You agree to buy this property from us and to make Standard Monthly Payn ents in the amount shown on the face of this agreement on or before the tenth da} of cacti month. The unpaid balance at any time will bear irterest at the rate of 71'< per year. PAVING OE YOUR STREET Thi. 1•;operty is presently unimproved. We agree to complete the pavwg of streets adjacent to your property, in accordance with the ;,!at filed in the public records of the county in which your property i, located. before the end -of the year in which your Standard Pa\rnent (, wplenon Date occurs 3. `'OUR `VARRANlY DEED i a ) Wo will deliver to you at our expense a properly executed Warrants 1):cd if )ou h.tve fully paid for this property ;,y making all of "our (•stand: rd Moodily Payments without prepayment. (h) The \Vai rarity Dec,! will convey Eood mttrketahle and insur- able t.ti: to you, free and clear of all encumbrances except for the Collo-. mg. i i ) tb�- !icn for (axes for the yei:r in which we convey the, PH -1,11k. (2) cit. gas and mineral reservations of record, if any; (3) -"ming and regulatory ordinances. restrictions and easements (WnrnonL found in Florida communities of high standards: (4) ►estric6om and limitations affec:inp, the use of the property 'which are ,oi,-.rior to the subdivision and which now or hereafter may become of public record; and (5) easements for drainage, canal mainten:mec and public utilities. ' c) .Aft,. r thi. Warrintx Deed is recorded, we will at our expen e ha%c asued to you , standard owner's title policy from a member firm of th Ameiic:m Lind Title Association. (d) l., � ;:nd poss`ssion of this property will be retained until YOU have p.ud us tilt purchase phee in full and until we have deliv- ered the Warranl'. Deed. 4. 'OUR R161 -if f -O PREPAY You have the right to prepay the •outstanding balance under this agreement in who!e or in part at am time without penalty. For purposes :If t`lis t ;:ntgraph additional Down Payment, if any (as shown in :::ra :ral,I: 4 on the face of this agreement), shall he consid- ered a partial prepayment. Prepayment does not, however, accelerate out .+Iig.ttion (a) to deliver the Warranty Deed and title insurance policy to )ou before the Standard Payment Completion Date or (b) to aa,nplete the paving of the streets adjacent to your propRrty before the cud of the Near in which Standard Payment Completion Date occws. tluwever, if you do prepay, we will thereupon issue you a certificate of payment in full. 5. WE PAY TAXES We gill pay all real property taxes on this property while this artecnunt is in force or until you record this agreement or until we dcli%cr v(,u a Warrant) Deed conveying title to the property to you, whirt,'.vrr Grit occurs. CONDITIONS OF PURCHASE PLEASE READ CAREFULLY 7 YOUR RIGHT IF WE FAI) TO i-FPFURM on) /agree to sell to -you If we fail to meet any of our obligations under this agreement, face page the residential you may elect either of the following exclusive remedies, at your ement. This agre6ment also option: 6. YOL'R TRANSFER PRIVILEGE It vour payments are current, we guarantee you the privilege to tr n- fei ) our equity ( the portion of your payments on this property apph�d towards principal) at any time before you have paid your out,ianding balance in full. This transfer may be toward either: i a) The purchase of available property of equal or higher price this or any other of our Florida communities, if you trar•,fcr within three years of the date of this agreement; or 00 'he purchase of a standard home Will by us in an avail- aN.: t-our.ing area. If , .)u have equities in more than one hit, you artay transfer thcrtl (.n.\ to a like number of other lots or homes. - ( I,;q')WI-EDGMENT' I he tn,Jersigned Purchaser(s) certifies that: ta) 1 ;.m of legal age. (h) 1 In :ve read (his Agreement and no additional representations have been riade w induc_ me to purchase the property described. cl i h.rve received and have had an opportunity to examine the `•,ipplement to this agreement containing a statement and finan- ced infer, , ition required by Federal law regarding my right to cancel this ;r.-, Ilion within three (3) business days t(1) I UNDERSTAND I HAVE THE OPTION TO REVOKE Tlil!. CuNTrir,(`I IF I HAVE NOT' RECEIVED A PROPERTY RIA OR 1 PRITARED PURSUANT TO THE RULES AND REG- ULATIONS OF THE U.S. DEPARTMENT OF HOUSING AND URB t ',,t VFI.OI'NlFN-r, IN ADVANCE OF, OR AT THE 'FI%I. '!GNING THIS CONTRACT- f UNDERSTAND I IIA% ,,. 1 1,10 HFR Rllilil i O RFVOKF THIS CONTRACT WI t' 1 1 W!'RS AFTU'R I IIAVF: SIGNED IT IF 1 DID NOT RF(' �:'.lL� i,ROPEFT`%' REPORT AT I -EAST 48 HOURS BFI I( i'` .Njt1 THE CON -TRACT. 1 HEREBY ACKNOWL- 1'!yt 1) AVIRNI BY MY SIGNATURE HEREON THAT I RI (; I\ I S11 If PROPERTY REPORT (WHICH IS ALSO'rHE Ri P( R : '(_dt'IRED UNDER FLORIDA LAW), TOGETHER \\ • . I .;OPEWFY REPORT Oi: OTHER APPROPRIATE D•;!, t,h7! i�: 1;FQ0IRFD BY THf: LAR' OF IN AD\' •.N('1: OE SIGNING TRIS CONTRACT AND I HAVE READ Ail) UNDERSTAND SUCH RHPORT(S). (c) I rce to purchase the described property in accordance woh the i ems of this: ;:greemcnt, the Supplement and any duly eac.uled .:elder thereto. ----_ ---r =- 49lL �iLF SEAL I',,, chrser's �iirnature SEAL Purchaser's sixnature 1 h.tvc re,cived the Initial Payment and witnessed the above signatures -x A—) 'A��_ ct— , ;anrret 1lrvehq,ment C -1 -ration tial( Representative GASH (J CHECK CJS (a) You may exchange this property for other property of similar value in this or any other of our communities and in a similarly desirable location, or (b) We will refund all payni::nts made by you under this agree- ment. If you elect either of these remedies. both you and we will be released from any further obligations i:nder this agreement, and there are no other privileges of cancellation or refund except as stated above. 8. NO PERSONAL LIABILITY ON DEFAULI You have no personal liability to make any payment under !his agreement. However,•if you fail to make any payment. you will be in default and we may terminate thi> agreement. Hefore any such termination becomes effective. you will have a grace periou within which to bring your account to a current status. This grace period shall be,for the period of •60 days if 10% or less of the principal amount of the purchase price has been paid, 90 days if more than 10% and less than 25°'o of the principal amount of the purchase price has been paid, 120 days if more than 25% but less than 50% of the principal amount of the purchase price has been paid, and 150 days if 50S'(, or more of the princippl amount of the purchaSC price has been paid. 'If you bring your account to a current status by paying all past due principal and interest within the applicable grace period, you will no longer be considered in default. If you do not bring your account to a current siatus within the applicable grace period. we may terminate this agreement without further notice. If we terminate this agreement, we will retain all monies you have paid under this agreement, including principal and interest, as liquidated damages because we have taken this property off the real estate market, we have turned away other prospective purchasers and we have incurred or will he incurrin), development and other ex- penses in connection with this property. Upon termination, any and all rights you may have had -in this property shall immediately ter- minate and we may return this property to our inventory and resell it free and clear of any claims, liens or encumbrances arising out of this agreement. 9. TERMINATION If this agreement is terminated, our recorded affidavit attesting to your default and the termination: shall be conclusive proof of such def,mlt and termination for all purposes. and you irrevocably authorize us to thus attest and record such affidavit as though it were your own act and deed. 10. F.FFECTLVE DATE This agreement is effective and binding on us when you have signed it and when we have signed it at our Home Office. We may accept or reject this agreement without explanation. and if we reject iL we will return the deposit to you and bulb parties shall be released from any obligation hereunder. 11. ASSLGNMFNT OF THIS AGRF.FMENT Yop may assign this agreement with our written consent upon payment of a transfer fee. 12. NOTICES Notices under this agreement must he in writing and addressed to the last known address of the respective party, except as to the void- ance and revocation right as provided in paragraph (d) under "Ac- knowledgment" below. Accepted at kfiami, Florida by GENERAL ' VE PN' T CORP RATION By: -- Authorised F°,�lvl :'tarn tw�r Witness: !G%•// --- Witness:. � STATE OF FLORIDA SS: COUN'CY OF DADE 1 HEREBY CERTIFY that on this day, before me, a Notary Public authorized to take acknowled;;ments, personally appeared the per.,ctn indicated as Authorized Employee above, whom 1 know to be the Agent of General Development Corporation in the fore- goin Purchase Agreement, and acknowledged before me that he executed such contract in the name of 'and on behalf of General Development Corporation; that as such Agent he is duly authorized by General Development Corporation to do so, and that auch Pur- -chase Agreement is the act and deed of General Development Cor- poration. WITNESS my hand it > algip �e Coul "id State rim-ned above, Notary Public, Stair „r F9nri.la at Large This instrument was prepared by: David A. Doheny, General Counsel General Development Corporation I 1 I 1 South Bayshore Drive Miami, Florida 33131 NOTARY PUT^"` -Tr (;F FLt7R1DA AT I ARGL ICY COMMISSION EXPIRES FEB. 4, 1975 ERAL INSURANCE UNDERWRITERS, INC.