HomeMy WebLinkAbout2752 5. To pay all and singular the principal and interest
and other sums of money payable by virtue of ~hia aqreement,
includinq insu=ance premiunis, taxes, or assessment~ proaaptly on
the days respectively the same ehall severally come due,~ and in
the event of default thereof the first parties, their heira, legal
representatives or assiqna, may place and pay for ~nsurance, taxea,
or asaeasmenta, or any part thereof, without waiving or affectinq
the opt'ion to foreclose, and each and every payment so m~de shall
bear interest from the date of payment at the rate of 6.6 percent
per annwn and shall be promptly repaid-to the first parties by the
second partiea.
IT IS MUTUALLY AGRS$D by and between the parties hereto
that the time of each payment shall be an essential part of this
contract; and that at such time as the Parties of the Second Part
have paid to the Parties of the First Part sufficient monies so
as to have reduced the principal balance due hereunder to Faur
~ Thousand Three Hundred Dollars T'hi.rty-three Cents ($4,333.33j ~
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exclusive of interes~, the Parties of the First Part, upon receipt
of written demand from the Parties of the Second Part, agree to
- execute and deliver to the Parties of the Second Part a Warranty
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Deed conveying said property and furn~.sh an up-to-date abstract
theceon, upon the Parties of the Second Part executing and delivering
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to the Parties of the Fisst Part a purchase money mortgage for the
balance of the principal due under this Agreement together with
interest at the rate of 6.696 per annum, payable monthly in accord-
ance with the terms of this Agreement.
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All covenants and agreements herein contained shall extend
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