HomeMy WebLinkAbout0823 c2~
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If the perties oP the aecond pert fail promptly to pey auch insurance
premiums then the aeme may be peid by the parties of the Pirat pert
and each auch payment, plus interest thereon et 6.8 per annum ahall
be added to the ur~peid balance oP thia egraement.
(3) To meintain in a stete of good repeir the building aituated on the
above desaribed property and suPter to wasta or impeirment of the seme,
reesonable weer end teer of the same eacepted, end the second partiea
acknowledge the receipt and possssaion oP the premiaes in good repair
without eaception. .
t4) To ell~w ~o liena to be placed on the above described property for
meLeriels ~1,irniahed, or labor performed thereon, and if any ~uch liena
are so placed, the seme may ba paid by the partiea oP the f irs~ pert
and eech such payment, plus intereat thereon at 6.8~ per annum, shall
,ba added to the unpaid balance of this egreement.
(5) To pey a reasonable ettorney~e Pee in the avent the Pirst parties
or thair essignees f ind it necessary to place this contraat in the
henda of an attorney to enforca the proviaions thereof by suit or
otherwise.
(6) To promptly pay each and e~?ery the instellments oP principal end
intereat as hereinbefore re-quired promptly as the same becomes due.
Time of such payments being the essentiel part of this egreement.
(7) The parties of the second part covenant and agree thet in the eve~t
any peyment due hereunder ahall beaome delinquent for thirty daya~ that
the perties of the first part ahhll be entitled to the eppointment of
a receiver to take end possess the property above described end to cause
the removel of the second parties or aay parties claiming unde~' them,
Which receiver ahell conserve the 9eid property and the rents and profits
erising therefrom until discherged by the court of complete ~uriadiction.
NOW, if the pertiea of the second pert ehall make the peyments and
perPorm the covenents hereinbefore mentioned on their pert to be per-
formed, then the psrty of the first part Will forthWith tender a good
and suPficient Deed with Documentery stamps aff ized then in a proper
amount to the seid parties of the sacond part.
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j In the event of failure of the seid perties of the second pert to
k meke any of the payraent, or eny part thereoP or Pail to pert'orm any oP
the covenants on their part, hareby meke end entered into in addition
to the remedies hereinbefore eccorded to the first perties, thia aontrect
shell, at the optian of the parties oP the first part, be fbrfeited
$nd termineted, and the perties of the second part, ~hell Porfeit all
p~?~nenta made by them under this contrect, and such peymenta shall be
retained by the aeid parties of the first part SnA~~ll satisPaction end
liquidation of all damages by them suateined, end the seid pertiea of
the first pert shall have the right to re-enter and take pQssession
of the premises eforeaeid Without being liable to~eny action therefor.
THE making of paynnents anticipa~ed hereinbefore provided shell not
eatend the time oP the next due payment.
IT IS Mi~TUALLY A(iR$BD, by and betKeen the parties hereto, thet the
time of eech payment shall be en essential part of -this contrect and
that all covenents and egreements therein contained $hall eatend to and
ba obligatory upon the heira, eaecutors, administrators and assigns of
the respective parties.
s ox~44 221. ~
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