HomeMy WebLinkAbout0074 ' And the party of the second part further covenants and agrees as follow.s:
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1. To pay all taxes, assessments, or impositions that may be ?
legally levi ed or imposed upon said land subsequent to the 31 st day of ;
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December, 1969. ~
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2, To maintain in a state of good repair the building situate on the ± ~
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above described property and to suffer no waste or impairment of the same, ~ ~
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reasonable wear and tear of the same only excepted. ,
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3. To allow no liens to be placed on the above described property ' '
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for materials furnished, or labor perfromed thereon, and if such liens are so;
placed, the same may be paid by the party of the first part and each such
payment, plus interest at 10~ per annum, shall be added to the unpaid balance ;
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of this Agreement. To promptly pay for all labor performed and materials ~
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- furnished upon the above described property:
4. To pay a reasonable attorney's fee and all Court costs should
the party of the first part be forced to take legal action to enforce the provisio~s
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hereof, or should the party of the second part breach this Agreement and
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~ refuse to quit the premises, making it necessary to bring eviction proceeding$ j
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~ against him, or shuuld theparty of the first part ~be required to foreclose this ; ~
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s Agreement or otherwise bring legal action hereunder. ;
~ 5. To promptly pay each and every installment hereunder as the ~
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~ same becomes due, rime of payment being of the essence.
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` 6. The party of the second part shall keep and maintain, throughout
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~ the life of this Agreement, a policy of fire and extended coverage insurance ~
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~ upon the above described property in the minimum coverage of $9, 000. 00; ~
~ ' such policy to name as loss payees the party of the first part. Party of the ~ ~
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~ _ second part shall pay the premiums for such insurance promptly as they ~
become due.
7. The party of the second part is executing, simultaneously with
this Articles of Agreement, a Quit Claim Deed re-conveying-the above
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