HomeMy WebLinkAbout1959 i
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ARTICLSS OF AaRF~18NT - Paqe 2. ~
inqly. Furthermore, ig payments are not rece3ved
by the 7th of the nwnth v~hen due, a penalty charqe
of $6.50 will be made. in addition, if payments
are not received by the 15th of the nanth ~1hen due, -
interest at the hiqhest leqal rate shall be vom-
puted fro~a the date of the last payment made by ~
Second Partiea through the date the arrearaqe ie
rectified. .
The monthly payment of $130.00 is computed upon the
following prenaise: Priucipal and interest $114.00, homeawners
insurance policy premiwa $5.60 per month and taxea $9.10 per
nwnth and tenaite polity $I.25 per manth.
Firat parties agree to utilize-so much of the $1~0.00
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monthly payment as is necessary to pay the real es~ate taxes and
insurance presnium due thereon each year. . ~
First Parties will qive Second Farties an annual state-
ment no later than February 15 of each year, showinq the~amount
credited~to principal, interest, taxes and inaurance from pay-
ment made during the previous calendar year by Second Parties. ~
Second Parties agree to pay all costs connected with the
reoordinq of this agree~aent, which is to be recorded no later
than Decesaber 31, 1970, in order for Second Parties.to be en-
titled to receive homestead exemption in the coming year, to keep
the real estate taxes to a minimum.
Second Parties agree to pay when due all asseasments which
may be imposed aqainst the p=operty for any type of improvements
made by any public body wfiich result in an assessment beinq i.m-
posed again8t the property.
Second Partiea have the option to tranafer this contract
to any other party with or without consent of First Parties.
Furthermore, Second Parties are given the option to prepay this
vontract upon payment to First Parties of a 5% presaium for pre-
PaYment.
u?w o~cs~
WILLEB, BITTAN 8 WILLES .
o R 188 195~ o..ox'°'
~ BGOX P.lGE ro~ ra~wcs. ILORIOA if4~0
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