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the unpaid principal balance; with interest from the !
date hereof at the rate of seven and a half per cent
(7.5) per annum on the unpaid balance. Two or more i
payments may be made'at ar~y time by the parties of
the second part on ar~y installment due date. It is
understood that of each monthly payment the sum of
$2. GO is being applied to insurance on said property,
the annual premium of which is estimated to be $24. 00. ~
The parties of the second part agree to maintain such
insurance in full force and effect throughout the life
of this Agreement, with a loss payable clause in favor
of parties of the first part. Should subsequent annual
_ insurance premiums be increased or reduced, the
morrthly payment shall be adjusted accordingly. ~
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And the parties of the second part further covenant and agree as follows:
1. To pay all taxes, assessments, or impositions
that may be legally levied or imposed upon said
land subsequent to the 31st day of December, 1965.
2. To maintain in a state of good repair the building
situated on the above described property and to suffer
no waste or impairment of the same, reasonable wear
and tear of the same excepted.
3. To allow no liens to be placed on the above described
property for materials furnished, or labor performed
thereon, and if any such liens are so placed, the same ~
may be paid by the parties of the first part and each ~
such paymetrt, plus interest thereon at 8% per annum,
shall be added to the unpaid balance of this Agreem~nt.
4. To pay a reasonable attorney~s fee and all Court costs
and other expenses of whatever nature incurred by
parties of the first pai~t shwld the parties of the first
part be forced to take legal action to enforce the pro-
visions hereof, or should the parties of the second part ~
breach this Agreement and refuse to quit the premises, ;
making it necessary to bring eviction proceedings against ;
them, or should the parties of the first part be required !
to foreclose this Agreement.
5. To promptly pay each and every monthly installment
hereunder as, the same becomes due, time of payments
being of the essence. If default is made in the payment
_ of any installment when due, and continues for ten days,
then at the option of the parties of the first part, and with-
out any other notice, all the remaining installments shall
be due and payable at once. ~
6. Neither forbearance, or acceptance by parties of the first
part of any past due installment, shall be deemed an ex-
tension, nor shall the same be deemed a waiver of any
default.
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