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HomeMy WebLinkAbout2869 ~ ~ And the parties of the second part further covenant and agree as follows: ' 1. To pay all taxes, assessments, or impositions that may be legally levied or imposed upon said land subsequent to the 31st day of December, 1969. 2. To maintain in a state of good repair the building situate upon 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 nu 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 ~y the party of the first part and each such payments, plus interest thereon at 8~ 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 acrion to enforce the provisions hereof, or should the parties of the second part breach this Agreement and refuse to quit the premises, making it necessary to bring eviction proceedings against them, 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 become due, time of payments being of the essence. ! 6. The parties 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 amount of $9, 600. 00; such r policy to name as loss payees the parties of the first part. Parties of the second part shall pay the premiums for such insurance promptly as they become due. 7. 1fie parties of the second part are executing, simultaneously 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 so long as the payments called for hereunder are promptly made and the second parties otherwise abide by all the terms hereof the said Quit Claim Deed shall - 2- 6i~~~ ~6E~UW , _ - _ - ~~.~._v~-~ ~u~. .,~~v