HomeMy WebLinkAbout1075 •vy,~~' .~ry h• - .f. R . .
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improvemente upon eaid proporty. ~he ieeesee agses to pay the dif- ~
. ference of any increased ineurance or taxes ae a reeult o! their
improvemente after 1964.
T'he lesaora do hereby qrant unto the leeeeee upon the followinq
~ terms and conditions, the right, option and~privileqe to purchase the
~ ~hereby leased premiaes for the sum of Twenty-five Thoueand (~25,0~0.00)
Dollare, and in•conaideration thereof the lessees hereby pay One
Hundred Dollars,($100.00) for said option, receipt of which is hereby
~ - .'acknowledged by the lessora, eaid One Hundred ($100.00~ Dollars ahall ~
be considered a part of the purchaee price in the event lessees exer-
cise this option. Zhe lessors hereby grant to the leasees a period ~
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of three-(3) yeara from Auguat 15, 1964 in which to exer.cise said
option. Thie option ahall be exerciaed by lesaees depositing written
notice in the United 3tates mail directed to the leeaors at their last
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known address at any time up to and including August 15, 1967, stating i
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lessee's intention to exercise eaid option. Upon the exercise of eaid
option, lessora agree to accept a down payment of Five Thousand
($5,000.00) Dollars witb a balance of Twenty Thousand ($20,000.00)
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, Dollars to ~e paid at the rate of One Hundred Twenty-five ($125.00)
Dollars per month includinq principal and intereat at the rate of six
(6) per cent per annum. This option is granted by the lesaors with the
t specific understanding that it ehall become void ~,f the lessees shall
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~ cease to reside on the above leased property or if the leseees shall
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~ • become tenants at sufferance and this option may not be transferred
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~ without the consent of the leseors. The lessora covenant with the !
~ lessees to convey the above described property under option by
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~ warranty deed, free and clear of all liene and encumbrancea. T'he ~
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~ lesaor~ further agre• to furni~h the le~sees an abetract of title
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~ showing a good and merchantable title, the leseees shall have thirty
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(30) days in which to bave said abstract examined. The partiea fur-
ther agree to prorate taxee and insurance at ttie time of clasing.
, In the event eaid title ehall no~ be qood and mercbantable then I
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' ~R~ 21d9 rac~~47'~