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LAW O/f,((S Of
VlilUS &. ~nAN
~ () lo. l01
fUn ~u{.(~ RC~J{)A
~}. 55 ,J,&l:lUl
i,\T. ~Lr;[ C""P, ru\,
c~nciny tht} 231'(1 day of ..Tanuaty, 1~j&3, .l:lnd Sixty r)()l1aU:l
($60.00) on tho 2Jrd day of each mont.h the reaflc r lint 11 the (u 11
a.n\Ount of principal and interest h6S been paid, \l"ith intereBt at
tho rdt.e of 6.6% P<;l: ~\Hnu.m, pnyabllil monthly (~n the ....hole Bum
r~aln!ng due from t.ime to time unpaid.
I-;ach inBta llmcnt p"l.yment
of S.ixty Dollars ($60.00) per month first IJha11 b~~ applied on pay-
ment of t.he inteHHJt. and. then on the unpaid balance of the prin-
cipal Bum,
If defnult is lllade in the pay-ment of any irwtalllnent
when due, tht1n at the option of the partl~s of the fJ.t'flt pln-l, <,nd,
wthout any other notice all the remaining in~tl111ment6 hliall be
due and payable at once.
J?rivileqe 16 given to pay t.....o or I-OC;U-"
lrH~t?>.llm~nts a.t a...,y installment D1bturlty datt-:, but tL15 nhall not
extend t.he timt~ oi maturity or any Bub20quent insti111mt:lll. Neither-
forooarance, nor acceptance by tho part~ieB of the fin..t p.'1r-t lwreu!;
aftor any default. in any payment lH~n~ont shall lx, det;med extel161uTi.'
AJiD the Baid p~rtiea of the tiecond part for themselves r.lld
theiI" heit's, legal r-epn.H~cntativee and 2l6l;i':jIH3 hereby coven,wt and
agree w1th the pa~~ti(!f> of tht:' firat part J
1. To P.:ti' all taxeB, a1l8e~{jmentB or impoaltlof1E that
mr"lY be leg al.ly lev ied or l;r.pOHtoU upon Baid land 6\1bIHHlupnt to Un'
year 1962, and to kuep t.he building upon Bald. pnHillbi;I; insured in
80me company aatiafacto1.y to t}H? part.laB of tlw firnt part, {!I)(l
pr;yable for t:h~~ part Ie g respect.\. 'Ie ly 36 t.he It' tnte r-t.'Btb may appt'i'r
in fA Bum not 108;; th3n Four 'thousand Five Hundr.ed D-olla!:'B
i
(~4:;,()O.(!(j)
I
I
durin/] the tenn of thia ^gt'eem~nt.
2. In caae of f(1ilure of the 6ald pin-tieF. of the H3cond
part. to make any of the payrll~nth or any p<lI"t thenwf, 01' t.o pcr-
tor-m any of the covenant8 on their part hen'by rnd.du ilnt! ,~ntel:ed
into, this contl'act Bhall, at the option of the par-tiea of the
flrBt p~rt, be fcH:V:;ited a_nd lel-m.1nattld, and the par-tien ot the
Beconu part th~h ahall fot'ff.}it l\ll pc..ym~nte made vy tht~m on t.hU3
contl:,!ct I and such paym~ntE shall he retilined hy the Bald par-tit-oe
of the first part in full aatlfifaction and l.1.quid"th,n of all
clam.".geil ~)y thGm sustained, and the sald partieR of the fin;l !Jaz:t