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DOLLARS ($1,9?5.00) to bear interest at the rate of six percent
(68)~per annum, and to be payable in the followinq manner: ~
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$285.75 to be paid on or before six (6) months from
date of closinq;
$396.42 to be paid one (1) year, or before, from date
of closing;
$396.42 to be paid on or before two (2) years from
date of closinq; .
$396.41 to be paid on or before three (3) years from
date of closing.
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Al1 deferred payments will bear interest at the ra~e of
six percent per annum. Purchasers shall have privilege of pre-
payment at any time without penalty. ~
It is understood'and aqreed between the parties that when
the principal sum has been paid in full, the_Vendor shall deliver
to the Purchasers an up-to-date Abstract, showing the title to
the property abovedescribed to be good and marketable.
At such time as the Purchasers have reduced the balance
remaining under this Agreement for Deed`to the amount of one-half
of the Purchase Price, then the Vendor promi~ses to convey the
property abovedescribed to the Purchasers by a qood and sufficien
Warranty Deed, whereupon the Purchasers will execute a promissory ~
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~i note and purchase money mortgage~coverinq the above-described ;
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~ property to secure the balance remaining, due thereunder at the `
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interest rate of six percent (68) payable as herein above set
forth, and if the Purchaser elects that this be done, it shall
notify the Vendor in writing at the time that one-half of this ~
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purchase price is paid herein. ~
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The Purchasers shall be permitted to go into possession
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of the property covered by this Agreement on the date of its ~
execution, and shall asswne all liability for insurance, taxes
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and maintenance from and after that date. •
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~ Required documentary stamps shall be placed on the Deed b ~
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the Vendor, in the event that a purchase money mortgage is taken
by the Vendor as part of the purchase price, the intangible tax
on it shall be paid by the Vendors, and the required documentary
stamps on the note shall be paid by the Purchasers and the Vendor ;
shall pay to record said mortgaqe.
~164 ~~.391
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