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term of this ngreement.
The seconc~ party agrees to apply for homestead exemption for the ~
year 1968 and each year thereafter. ~
The second party also recognizes and agrees that the first party
may mortgage or i~ypothicate said la~ds, as long as good and free and ~
clear title is delivered upon payment of the herein described purchase
price by the second party. The second party also agrees to apply for a ;
standard institutional loan, upon request by the first party, sufficient to
satisfy and discharge any mortgages against said lands, with the difference
between the same and the balance due hereunder to the first party being
secured by a note and first mortgage. However, the combined payments
thereunder to be made shall not exceed that being paid under this Agreement
~
for Deed.
Party of the second part shall not make any material alterations ,
upon the existing building without first securing the written consent of parties ~
of the first part. ~
~
And in case of the failure of the said party of the second part to make '
eitiier of the payments or any part thereof, or to perform any of the covenants
on his part hereby made and entered into, this contract shall, at the option
of the parties of the fii-st part, be forfeited ant~ terminate~, and the party
of the second part shall forfeit all payments made by him on this contract; s
and such payments shall be retained by the said garties of the first part
in full satisfaction and liquidation of all damages by them sustained, and the
parties of the first prart shall have the right to re-enter and take p~ssession
of the premises aforesaid :vithout befng liable to any action therefor. The
second party shall be resp~nsible for any court costs and a reasonable
attorney's fee incurred by the first par~y in enforcing this Agreement.
IT IS 1LiLTTUA LLY AGREED by and between the parties hereto, that
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