HomeMy WebLinkAbout1909 .
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~ It is understood end sgreecl between the parties that when the
principal aum he~s been paid in full, the Vendors shall deliver to
the PuroYvasera a title insuranoe comaiitment or ebstraot $howing
title to the property above described to be good and marketable.
The Purahasera ahall be permitted to go into poase8aion of .
the property covered by this asreement on the date of its exeaution
end ahell assume all liabi~.ity for inauranae, taaes and meintenanae
from and after that dete. The Purahasars agree to maintain the
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exteridr~of all build in ~;ood condition and to maintain fire
. and extended coverage inauranae on the buildings in an amount of
not le8s the balance due Vendora under this ggreement or the maai-
mum insurable va lue of the property, whichever is less. ~
Required document~ry stamps ahall be pleced on the deed by
Vendors. In the event that a purchase money mortgage is taken by
the Vendor$ as a part of the purahese price, the intangtble tax on
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it sk~s 11 be paid by the Vendors, and the required documentary ~
stamp~ on the note aecured by it sha 11 be paid by Purchasers.
The time oP peyment slzall be of the essence and in the event
of any default in payment of any part of the purcheae money as and
Rhen it becomes due or in the psrPormanee of any other obligation
assumed by the Purchasers-in the agreement, and 3.n the vvent that
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' the default shall continue for a period of fiftean (15) days, then
the V~cndors mag c4ns ider the ~°ihble of the ba lance due under thia
a~reement as i~ncnediately due and payable and colleetible, or the
g Vendors may rescind this Agreement, rctaining the cash consideratio
pa id Por it as liqu idated damagee, and this Agreement then ahall
become null and void. In the event that it is necessary for the
Vendors to enForce this l~~reec~ent b~ foreclosure procee~ings or
otherwiso, all costs of those proceeain~s, inclurai:~; reasona?;le
attorne; ts fee, s'nall ~e rdld b5 Furc :asers.
~ The c~ii~~2ti~r_s '~=•n~rit3 un~~rr t'-'. r:c'T`truct s%~~11 cftend
P:
~c; t~~_~ per~onal represent~tives, ?:czrs ar.c: ass,~,ns oi t'~:e
respect've parties t~ 3-t.
Ii; WITi'r'r.'.SS :'~:=~:i~~:(:,i', t~e pai ties have set the~r hands and
seals thc day ana gear first above written.
Si~;ned, sealed and delivere~ e o~ EAL~
; in e pres~ce of : ~ ~ (SEAL)
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