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HomeMy WebLinkAbout0374 T+~I; i•:~•~ ~~~~r~~ r~e ~r:;~..~P BYt ~ Rl)~tl~t i~ ~~~~i~~. i~!'~ ;:j 3! l'.~Y _ above described property and to suffer no waste k~~#i~periz~nt'~~' ~te~ ~n~.+;~ ; , i reasonable wear and tear of the same only expected. ~ ~i . 3. To allow no liens to be placed on the above described pro- perty for materials furnished, or labor performed thereon, and if any such ~ liens are so placed, the same may be paid by the parties of the first part and << , each such payment, plus interest thereon at 9~ per annum, shall be added . „ to the unpaid balance of this Agreement. To promptly pay for all labor per- i! formed and materials furnished upon the above described property. i; 4. To pay a reasonable attorney's fee and all Court costs should li i; the parties of the first part be forced to take legal action to enforce the pro- i: visions hereof, or should the party of the second part breach this Agreement_ ; and refuse to quit the premises, making it necessary to bring eviction pro- c; - ceedings against them, or should the parties of the first part be required to ~ 1: ' foreclose this agreement or otherwise bring legal action hereunder. 5. To promptly pay each and every installment hereunder as the I ; same becomes due, time of payments being of the essence. 6. To keep and maintain, throughout the life of this Agreement, a; lic of fire and extended coverage insurance upon the above described pro- ~ Po Y perty in the ~minimum amount of $8, 000. 00; such policy to name as loss paye f; ~ ; the parties of the first part and memorandum certificates of such insurance ~ j . to be furnished the parties of the iirst part each and every year throughout ; ~ ~ ~ the life of this Agreement. ; ~ 7. The party of the second part is 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 under ~ standing that so long as the payments called for hereunder are promptly made, and the second party otherwise abides by all the other terms hereof ~ ~ the sa.id Quit Claim Deed shall be held in escrow. However, should any pay- ~ ~ ment called for hereunder remain unpaid for 30 days from the due date or ~ ~ should second party otherwise breach this Agreement by non-payment of ~ ~ taxes or other covenants 4erein contained, then, first parries may, without , ~ ~ any notice or demand to second party, record said Quit Claim Deed and thereT ~ ~ upon second party shall have no further right, title, interest, claim or demanjd ~ -2- a~189 F~ 374 ; , ~ . ; ~ , ~ _ _ _ _ _ _ _ _ _