The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-06-20
hereinafter desig-
mated as Purchaser.

hereinafter provided. and IN ACCORDANCE
with the application Of purchaser which
is made part hereof. the compan!
: agrees to sell and deliver to said pur.
chaser the following:
L. (a) Ten acres OF land TO d.
planted to syrup cane, or other crops
and to be cared for and operated either
by said company or by commission
plan Of government, said commissioner
elected by the purchasers as later here
matter provided Said acreage valued
at $500 or $3.50 per acre. (b) A villa
site at Valparaiso, to contain at least
q quarter acre. valued at $3.50. (c) A
f0ur-or five-room bungalow built OF
said villa site in accordance with plans
to be supplied or approved by pur-
chaser and to cost not to exceed 81 SOC
based on actual cost of material and
labor, plus 10 per cent. Purchaser to
have the right to build home as
much more expensive as he desires
Total value OF villa site and bungalow
being $780, Selection Of land and villa
site to be by purchaser whenever prac-
ticable: otherwise, by the trustees.
q Whenever the sum of two hun
bred and fifty dollars (S250.00) is re-
ceived from purchaser on or before
October 1 Of any year, either in one
payment or as the sum OF installmentS,
a final certificate shall be issued by
the trustees. registrars and auditors,
stating that the purchaser has paid
said SUM and that half the annual net
profits from one acre OF land shall be
the property of said purchaser, begin
ming with the crop OF the next year.
All lands conveyed by final certificate
to be decided to and held in trust by a
responsible trustee. II payment in cash
is made for more than one acre, pur-
chaser may obtain single certificate
covering the entire number OF acres
for which payment Is completed. and
unless otherwise directed all payments
will apply on acreage and all credits
from crops on villa site and bungalow.
3. Company agrees to prepare the
land for crops and to properly fence
same, to grow crops thereon, and cul-
tivate and care for same, to harvest,
and market said crops, and to employ
skilled superintendent and the best
labor obtained by them, and purchaser
shall receive either in cash or credit
one-half of the net profits in accord
ance with his interest as represented
by final certificates. Purchaser pays
no taxes until the year following the
actual date Of delivery to purchaser
OF warranty deed.
4. If purchaser pays $1,000 in cash
or within four months after signing
contract then no further cash payments
will be required under this contract
The balance of the 5000, or $1,000,
may be paid out Of the earned profits,
and the trustees are hereby authorized
to make such payments. Three FER
cent interest shall be paid on all de-
ferred payments, and per cent on all
delinquent payments.
s. If purchaser pays $40. or more.
cash and $50 month, then SLIPS shall
be paid in money by purchaser after
which no further payments .vill be
required, the balance of S3S75U may
be paid out OF profits. Company guar
antees that the crops will earn at least
10 per cent net and at least 90 per
cent will be credited on this contract
as purchasers share. in accordance with
purchasers interest and represented by
final certificates.
6. In case purchaser received one or
more final certificates in accordance
with paragraph two hereof. but falls
to actually pay in cash total sum OF
one thousand dollars (Si,000.001. then
company may at its option return pur-
chaser the full amount of cash paid
by purchaser and represented by final
certificates, plus 6 per cent interest
per annum, and cancel this contract
and final certificates, and purchaser
hereby agrees to such cancellation
Z. When any registered holder of
final certificates, for ten acres under
one contract. desires to take over ac-
tual possession Of the ten acres pur-
chaser may do so at any time after
the date OF securing final certificates
for ten acres by making application to
the trustees, registrars and auditors on
or before February 1 OF any year. and
deed will be given said purchaser on
or before February 1 OF the year fol-
lowing In accordance with ninth para
graph hereof; said land to be that of
the trust lands that has not previously
been decided. The trustees, registrars
and auditors shall select and allot said
lands and villa site to the purchaser.
but the purchaser will be allowed the
right OF personal selection il practic-
able. Should purchaser take deed to
ten acres company viii thereupon cease
farming that ten acres for purchaser
5. On payment OF $3.50 villa site will
be definitely allotted to purchaser or
IL purchaser agrees to build house
on same within six months. No houses
are TO be built costing less than $500.
Deed to villa site will be given when
contract is paid. In the meantime title
Is held in trust for purchaser by re-
sponsible trustee. After purchaser has
received one final certificate he may
pay for villa site and receive deed for
same on satisfactory proof that a suit
able house will be erected thereon
promptly.
g. When purchaser has paid $1,000
az covered by paragraphs four and five
of this contract, he may come to VAL
paraiso for two weeks each year and
his room, board. and all expenses. such
as use of boats, fishing, equipment,
automobiles. horses. hunting equipment,
also guides. expert fishermen, hunters.
drivers. etc. will be charged to pur-
chaser's profit account and for which
he need pay no money whatever. Two
persons would De taken care OF one
week. Purchasers desiring to remain