Financing | Warranty Deed | Agreement | Purchase Instructions | Payment Options

This instrument prepared by:
Concorde Financial Corporation
PO Box 800115
Miami  Florida  33280

Parcel Account Numbers:


ARTICLES OF AGREEMENT, Made this  day of         , 20   , BETWEEN CONCORDE FINANCIAL CORPORATION, a Florida corporation, SELLER, whose post office address is PO Box 800115  Miami  Florida  33280, and                    , BUYER, whose post office address is                                                          .

[The terms “Seller” and “Buyer” herein shall be construed to include all genders and singular or plural as the context indicates.]

WITNESSETH: That if the said Buyer shall first make the payments and perform the covenants hereinafter mentioned on their part to be made and performed, the said Seller hereby covenants and agrees to convey and assure to the said Buyer, their heirs, executors, administrators or assigns, in fee simple, clear of all encumbrances whatever, except for any caused, indirectly or directly by Buyer, by a good and sufficient Warranty Deed, the lot, piece or parcel of land, situated in the County of             , State of                  , known and described as follows:

SUBJECT TO COVENANTS, RESTRICTIONS, EASEMENTS , RESERVATIONS, and MATTERS COMMON TO of record, if any;  However, this reference does not operate to reimpose same: SUBJECT TO Zoning Ordinances that may affect subject property; SUBJECT TO Taxes for the year          and Subsequent Years.

and the Buyer hereby covenants and agrees to pay to the said Seller the sum of 
Dollars in the manner following:

The amount of              Dollars to be paid with the execution of  this contract and the balance of            Dollars to be paid as follows with interest at the rate of      percent until  maturity as follows:

The monthly sum of   00/100 Dollars due     10th, 200 , and a like payment on the 10th day of each and every consecutive month thereafter for     months, then on         10th, 20    the entire principal together with interest accrued shall be paid in full.

Such installment payments shall be applied first to the interest accruing under the terms of this agreement and then to a reduction of the principal indebtedness.  An additional $6.00 shall be charged to Buyer each month for finance servicing.

Late Payment Charge: If the Seller has not received the full amount of any monthly payment by the end of 15 calendar days after the date it is due, the Buyer shall pay a late charge to the Seller. The amount of the charge will be 5% of the monthly payment due. The Buyer shall pay this late charge promptly but only once on each late payment.
SecuritySeller retains possession and title to the property being purchased, until payment in full of Buyer’s obligation under the agreement documents.  Buyer may take possession and make non-residential improvements to the property before full payment is received.

Buyer’s Right to Prepay: The Buyer has the right to make payments of principal at any time before they are due. A payment of principal only is known as a “prepayment.” When a prepayment is made, the Buyer shall inform the Seller of the same.

The Seller will use all of any prepayments to reduce the amount of principal that is due under this contract. If the Buyer makes a partial prepayment, there will be no changes in the due date or in the amount of the monthly payment unless the Seller agrees in writing to those changes.

Said Payments shall be paid at:  Post Office Box 800-115  Miami  Florida 33280 or such other place as the Seller shall notify the borrower in writing.

IN ADDITION to making said monthly payments, Buyer shall:

1.       Pay all taxes and assessments of every nature as same becomes due beginning after the date hereof.

2.       Permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof.

3.       Pay all costs including reasonable attorney fees incurred by Seller in the event of  failure of Buyer to duly, promptly and fully perform and comply with the stipulations and agreements herein contained.

In the event of the failure of Buyer to make the payments or any part thereof as herein provided within thirty (30) days after same becomes due, or to perform any of the covenants on Buyer's part hereby made and entered into,
this contract shall, at the option of Seller be null, void, cancelled, terminated, and of no further force and effect and Buyer shall forfeit all payments made on this contract, and such payments shall be retained by Seller in full satisfaction and liquidation of all damages by it sustained, and Seller shall have the right to re-enter and retake possession of the premises aforesaid without being liable for any action therefor, or, at the option of Seller, the unpaid balance shall, without demand, become due and payable, and all costs and expenses of collection of said monies by foreclosure or otherwise, including reasonable attorney fees, shall be paid by Buyer, and the same are hereby secured. In such event, Seller shall have no further obligation or liability to Buyer.

IT IS MUTUALLY AGREED by and between the parties hereto as follows:

1.       Time of payment shall be an essential part of this contract, and all covenants and agreements herein contained shall extend to and be obligatory upon the heirs, executors, administrators and assigns of the respective parties.

2.        Upon compliance with the payment provision of this contract, Seller will allow Buyer to purchase a policy of title insurance showing title to said lands to be good and merchantable, subject only to zoning ordinances, covenants, easements, restrictions of record, current taxes, and any other matters that would not render
the title to the property to be unmarketable; however, if title is found to be unmarketable at said time, and if the problem that makes the title unmarketable was not caused by Buyer, then at Buyer’s option, all sums paid, shall be refunded to Buyer, and each party shall be relieved of any liability or obligation to the other under this agreement, provided however that before Buyer can elect to cancel, Seller shall be given 60 days to cure the problem.

3.      Also upon compliance with the payment provision of this contract the costs of recording the Warranty Deed shall be paid by the Buyer.

4.      This agreement is not assignable by the Buyer herein without prior approval and written consent of the Seller. If all or any part of the Property or any interest in it is sold or transferred by the Buyer without Seller’s prior written consent, Seller may, at their option, require immediate payment in full of all sums due under this
agreement for deed.


5.        Assignment of Leases. Upon Seller's request, Buyer shall assign to Seller all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Seller shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Seller’s sole discretion.

6.       Assignment of Rents. Buyer unconditionally assigns and transfers to Seller all the rents and revenues of  the Property. Buyer authorizes Seller or Seller’s agents to collect the rents and revenues and hereby directs each tenant of the Property to pay the rents to Seller or Seller’s agents. However, prior to Seller’s Notice to Buyer of
Buyer's breach of any covenant or agreement in this Buyer OR prior to any payment becoming ten (10) days past due, Buyer shall collect and receive all rents and revenues of the Property as trustee for the benefit of Seller and Buyer. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only.

          If Seller gives notice of breach to Buyer, OR if any payment is at any time ten (10) days past due:

          (i)      all rents received by Buyer shall be held by Buyer as trustee for benefit of Buyer only, to be applied to the sums secured by this contract;

          (ii)     Seller shall be entitled to collect and receive all of the rents of the Property; and

          (iii)    each tenant of the Property shall pay all rents due and unpaid to Seller or Seller's agent on Seller's written demand to the tenant.

          Buyer has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Seller from exercising its rights under this paragraph 6.

Seller shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Buyer. However, Seller or a judicially appointed receiver may do so at any time there is a breach, OR if any payment is ten (10) days past due. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Seller. This assignment of rents of the Property shall terminate when the debt secured by this contract is paid in full.

CLOSING DATE:  Seller and Buyer will comply with all terms and conditions of the Agreement for Deed with earnest monies to be received by Seller by       , 20   .  Buyer acknowledges that if earnest monies are not received by Seller this Agreement for Deed becomes null and void as of            , 20    .  

BUYER’S ACKNOWLEGMENT: The Buyer(s) understanding that he/she is purchasing unimproved / vacant real estate and is responsible for property taxes, assessments and association dues.   If Buyer fails to make timely monthly payments or to pay property taxes and association dues (if applicable) the account will be cancelled and all monies forfeited.  Buyers are required to conduct any research or due diligence of the property prior to making a purchase.  Properties sold “as-is”.  Information provided is from reliable sources and, to the best of our knowledge, is accurate.  No guarantees as to terrain, location, condition, buildability, either expressed or implied, are made. You will be issued a Warranty Deed, guaranteeing you free and clear title with no encumbrances of any kind, when the property is paid in full.

BUYER'S AGREEMENT TO MAINTAIN INSURANCE ON THE PREMISES: If there is an improvement on the property, Buyer agrees to keep the buildings now or hereafter on said land fully insured in a sum of not less than the full insurable value in a company or companies acceptable to the Seller, the policy or policies to be held by and payable to, said Seller, and in the event any sum of money becomes payable by virtue of such insurance the Seller shall have the right to receive and apply the same to the indebtedness hereby secured, accounting to the Buyer for any surplus.



CONCORDE FINANCIAL CORPORATION    (If name of spouse is to appear in deed, both husband and wife should sign.)       

Buyer: __________________________    ___________
  Buyer: __________________________    ___________
This is to certify that on the above date an
officer signing this Agreement for Deed
acknowledged that the agreement was 
executed for and in behalf of the Seller as 
and for the act of said corporation,
  ACKNOWLEDGED in Miami, Miami-Dade County, ________________________________ 
Florida this ______ day of ___________, 20____  
By: _______________________________________
                              AUTHORIZED AGENT
(corporate seal)