HomeMy WebLinkAbout1048 • .
5. The second parties will keep the dwelling and personal properLy
ir~sured against loss by fire, extende3 coveraga and o~her perils ia the min-
imum amowat of =21,OOO.UO on the dxelling a»~ ~1,000.00 on the contents, dth
.loss pa~yable to the firat partiea as their interest mqy appe~sr, said poiicy
to be deposited with the first ~arties~ an~ premiums to be ~aid by the eecond
partiea. However, shculd the aecond ~arties fail to keep such insuranae in
:force, or fail to pay the premiums thereon promptly, first parti~s bhall have
the o~tion, but ~hall not be required, to pay said premiume, and ar~y amounts
so d shall be added to thi~s Contrr~et ar:d shall bear interest at six per cent
(6~~gar annum from da.te of such p~yment or p~rmcnts.
6. IIpor~ completion of payments to be made by secand paxties and interest
thereon, as agreed, first parties covenant and agree to convey a good and merchan-
table title ta the subject property to the second parties~ their heir~ and assigns,
free and clear of all liens and encumbran~es, except as to taaes after 1965 and
exaept as to such liens and~or encwabrances as may come into existence hereafter
through ~o fau t of the first parties, and except as to such liens and/or encum-
brances as the second parties m~y have impoaed or pe~itted to be i.mposed on said
title.
7. In case of the failure of the second parties~ their heirs and assigns,
to make either of the pa3rments, or ~t part thereoF, or to perform arLy of the
- covenants on their part hereby made and entered into, and such failure or default
shall c~ntinue for a period of more than thirty-one (31)-dsys, this Contract ahall,
at the option of the first parties, their heirs a~d asaigas, be terminated, and
all amounts paid hereunder shall be the prnperty of such first par~fea, their
heirs and assigns, who shall have the right to re-enter and talr~ possession of
above property, sithout_notice, ~?ithout suit or legal proceedi.ngs and xithout
being liable for suy action in connection therewith; provided haRever, that the
rights above provided to said first parties shall be cumulative and i.n addition to
ather rights which they may have in the premises, and indulg~ence by said first
parties shall not be taken or considered as consent; and in the event of a breach
of this Contract the seaond parties, their heirs, legal representatives and assigna,
hereby agree to p~y all costs and expanaes of collecting aqy amounts due hereunder,
or other+rise proteating the rights of aaid first parties~ their heirs, lega~ rep-
resentativee and assigns, including a reasonable attorney's fee. And, in the event
first parties shall have an option provided above and have not ezercised the same,
i such failure to ezercise such option shall not be a waiver nor a bar to later
` eYercise of such option.
` 8. It is mutually agreed by the parties hereto that the ti~e of p~rnent
shall be an esaential part of this Contract, and that alI covenants and agreements
herein shall eztend to and be obli tory upon the survivors, heirs and asaigns of
the respective parties hereto, snd~r their r.aecutors aud ~dminietrators.
IN ~IT\'r.SS -~SHOF, the partiea have hereunto set their hands and seals
this lst day of April, 1966.
~S~)
John ~'rank in son
, (SEAI,)
Clara A. Jaclcso
FIBST PASTI3S
.
~itnasses as to a 1 parties ~ y? ~~~,y~
Homer . bryan
~S~AL~
S. Kathleea Bryan S COHD PAF~PIES
P~ ~~e BODK ~~9 P.4CE
~ :_y ~ ~
~ ~ _
~..x~ _
~ ° G ~
- . _
_ . ~ :