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HomeMy WebLinkAbout2274 levied or imposed upon said land subsequent to the ye~r 1969, and to k~ep the buildings upon said premises insured in some company satisfactory to the party of the first part, and payable for th~ parties, respectively as their interests may app~ar, in a sum not less than ZWENTY THOUSAND FIVE HUNDRED DOLI.~iRS during the term of this agreement. And in case of failure of the said party of the second part to make any of the paym~nts or any part thereof or to _perform_ any of the covenants on their part herebq made and entered into, this contract shall, at the option of the party of the first part, be for- feited and terminated, and the party of the second part shall forfeit all payments made by them on this contract; and such payments shall be retained by the said party of the first part in full satisfaction and liquidation of all damages by them sustained, and the said party of the first part shall have the right to re-enter and take poseession of the premises aforesaid without being liable to any action therefor. In addition to the monthly payments on the installment due date of h month until the note is fully paid, party of the first part ~j llect from wi 1~~ the party of the second part the follawing sums: a sum b equal to the premium that will next become due and payable on policies of fire and other hazard insurance cavering the subject property, plus taxes and assessments next due on the subject property f ~ (all as estimated by the party of the first part and of which the party of the second part is notified) divided by the number of months to elapse before one month prior to the date when such premiums, taxes and assessments will become delinquent. Such sums to be held by party of the first part in trust to pay such premiwns, taxes and _ _ _ _ special assessments. The aggregate of the amounts payable on taxes, insurance and spe~ial assessments and those payable on this contract secured hereby, ' shall be sid in a sin le a ent each month to be a lied to the ~ P S P Ym ~ PP ~ ~ _ _ : ~ 5i11I"C~~rr~~:s-tt~~A E c~ ~ DOCUMENTk~'~ S~Ah1P 1_AX ~ z = t-~:~:-: -2- ~ _ ~30~~ 2~ 2 6 5 = goox ~~e AA6f ~ Z er P.~.~so~as ~ ~ _ ~ ~,;r.„ ~ r~, , - _ - - - - - - - - - ~ ~ '~s ~a R ~ " ¢~'s r ~-s*i~ . , ~...'',y.s _ _ . 7~~ 'r= "~~.-~"x`~ r . ~ , . - • - ' ~~~1~~~ . .