Geary v. Dade Development Corp.

The mortgage which is the subject of this foreclosure action was given to secure performance of an agreement of purchase and sale of land subdivided into parcels between the predecessors of plaintiffs and defendant.

The agreement contained the following provision as to payment: “ Upon the sale or encumbrance of any part or parts, lot or lots, of the premises described in Schedule A, Purchaser shall pay to Seller the sum of Two Thousand and no/100 ($2,000.00) Dollars for each lot sold or encumbered. Seller shall accept Purchaser’s check as payment, subject to collection. As each lot is sold or…