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date hereof at the rate of Eight and one-half Percent '
(8~) per annum on the unpaid balance. 'I~xo or more
payments may be made at any rime by the partiea of the
second part on any inatallment due date, without penalty, _
but the making of such additional payments does not extend ~
the date of the next due payment. ~
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And the parties of the second part further covenant and agree as follows:
1. To pay all taxes, assessments, or ~mpositions that may he legally
levied or imposed upon said land subsequent to the 31 st day of DECember, 1969.
~ 2. To maintain in a atate of good repair the building situate on the above
described property anri to suff:er no waste or impairment of the same, reasonable ,
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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 for
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materials furnished, or labor performed thereon, and if such liene are so }
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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 he added to the unpaid balance of
this Agreemen~ 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
- t necessary to bring eviction Froceedings against
- him, or should the parties of the first part be required to foreclose this Agree-
ment or otherwise bring legal action hereunder. ~
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~ 5. 'I`o promptly pay each and every installment hereunder as the same becomes
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~ due, time of payment being of the essence.
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6. The parties of the aecond part shall keep and main~ain, throughout ~
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the life of this Agreement, a policy of fire and extended coverage insurance ~
upon the above described property in the minimum coverage of $13, 000. 00;
such policy to name as loss payees the parties ~ the first.part. Parties af the second
~ part shall pay the premiums for such insurance promptly as they become due.
7. The parties of the second part is executing eimultaneously with this
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Artlcles of Agreement, a Quit Claim Deed re-conveying the above described i
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