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HomeMy WebLinkAbout2719 taxes and insurance upon the above property. ~ , And the party of the second part further covenants and agrees as follows: 1. To pay all taxes, assessments, or impositions that may be legally levied or imposed upon said land subsequent to the 31 st day of December, 1969. 2. To maintain in a statE of good repair the building situate on the above described property and to suffer no waste or impairment of the same, reasonable ~ wear and tear of the same only excepted, 3. To allow no liens to be placed on the above described property for ' materials furnished, or labor performed thereon, and if such liens are so placed, the same may be paid by the parties of the first part and each such payment, plus interest thereon at 1~ per annum, shall be added to the unpaid balance of this Agreement. To promptly pay for all labor performed and materials furnished upon the above described property. 4. To pay a reasonable attorney's fee and all Court costs should the parties of the first part be forced to take legal action to enforce the provisions hereof, or should th~ party of the second part breach this Agreement and refuse to quit the premises, making it necessary to bring e~RCtion proceedings against her, or should the parties of the first part be required to foreclose this Agreement ~ or otherwise bring legal action hereunder. 5. To promptly pay each and every installment hereunder as the same becomes due, time of payment being of the essence. 6. The party of the second part shall keep and maintain, throughout the life of this Agreement, a policy of fire and extended coverage insurance upon the above described property in the minimum coverage of $16, 500. 00; such policy to name as loss payees the parties of the first part. Party of the second part shall pay the premiums for such insurance promptly as they become due. 7. The party of the second part is executing, simultaneousiy with this Articles of Agreement, a Quit Claim Deed re-conveying the above described property unto the parties of the first part, with the express understanding that t , -2- ~18f . , i ~.i~~ n ~ _ - - ~ r_~ . . ..r