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HomeMy WebLinkAbout1633 ; 1. To maintain in a state af good repair the building situated on the above deseribed property and to suffer no ~ waste or impairment of the same, reaeonable wear and tear of the same expected. 2. To pay all taxes, assessments, or impositions that ma9 be legally levied or imposed upon said land subsequent tQ the year 1963. 3. To allow no liens to be placed on the above described property for materials furnished, or labor performed thereon, and if any such liens are so placed, the same may be paid by ' _ the party of the first part and each such payment, plus inter- ~ est thereon at 896 per annum shall be added to the unpaid bal- { 9 ance of this Agreement. ! 4. To pay a reasonable attorney'~ fee and all Court costs should tbe party of the first part be forced to take legal ac- ~ tion to enforce the provisions thereof, or ahould tbe parties ! , of the second part breach this Agreement and refuse to quit ~ the premises, making it necessary to bring eviction proceedinga against them or ahould the party of the first part be required to foreclose this Agreement. ~ 5. To promptly pay each and every installment hereunder as the same becomes due, time of payments being of the essence, such installments to be paid as provided, that the second parties ~ shall have thirty (34) days from any due date within which time to redeem the property without the penalty of Yoreclosure at- i taching within the said thirty (30) days and during the time, ~ payment of the arrearage to the date of any said payment shail redeem the property and the first party shall not have the right to accelerate during the said thirty (30) days redemption period. 6. To keep maintained, throughout the life of this Agree- ment, a policy of fire and extended coverage insurance upon the above described propertq in the minimum amount of ~7,000.00; such policy to name as loss payee the party of the first part and the original policy of such insurance to be furni9hed the party of the first part each and every year throughout th e ; 1 life of this Agreement. ~ ~ ~ NOW, if tbe parties of the second part shall make t6e pay- ~ ments and perform the covenants hereinbefore mentioned on their ' ~ f the first art will ~ ~ part to be performed, then the party o p : ~ forthwith tender a good and aufficient deed with documentary a ~ ~ stamps affixed thereto, in a proper amount, to the said par- ~ ~ ties of the second part. ~ ~ IN THE EYENT OF FAILIIRE of the said parties of the second ~ part to make any oY the payments or any part thereof, promptly ~ on the dates specified or fail to perform any of the covenants , ~ on their part hereby made and entered into and the said con- i a tinuance of default existing for more than thirty (30) days, ~ ~ this Contract shall, at the option of the party of tbe firat ~ part, be forfeited and terminated, and tbe partiea of the :a ~184 ~i~p ~ ~ - . - _ .