HomeMy WebLinkAbout1398 -2-
condition and to maintain fire and eatended coverage insurance
on the buildings in an amount of not less than the balance due
Vendors under thie Agreement or the maximum insurable value of
the property, whichever is less.
Required documentary atamps shall be placed on the deed
by Vendors. In the event that a purchase money mortgage is
taken by the Vendore as a part of the purchase price, the in-
tangible tax on it shall be paid by the Vendors, and the re-
quired documentary stampa on the note secured by it shall be
paid by the Purchasers.
The time of payment shall be of the essence and in the
event of any~default in payment of any part of the purchase mone
t
ae and when it bec~mes due or in the performance of any other
obligations assumed by the Purchasers in tbis Agreement, and in
the event that the default shall continue for a period-of
fifteen (15) days, then the Yendors may consider the whole of
the balance due under tbis Agreement as immediately due and pay-
able and collectible, or the Vendore may rescind thia Agreement,
retaining the cash consideration paid for it as liquidated
damages, and this Agreement then shall become null and void. In
the event that it is neceasary for the Vendors to enforce this
~ Agreement by foreclosure piroceedings or otherwise, all costs of
I
~ those proceedings, including a reasonable attorney's fee, shall
be paid by the Purchasera.
The obligations and benefits under this contract shall
extend to the personal representatives, heirs and aseigns of the ~
respective partiea to it.
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IN WITNE3S WHEREOF, the parties have set their hands and
~
aeals the day and year first above written. ~
Signed, sealed and delivered SEAL)
in the presence of: en or_~
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