HomeMy WebLinkAbout0605 ARTICLES OF AGREBNiffi~IT - Page 2.
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by the 15th of the nanth when due, intereat at ;
the hiqhest leqal rate ahall be computed from ~
the date of the last payaaent made by Second
Parties through the date the arrearage is
rectified.
The monthly payment of $I20.00 is computed upon the
followinq premise: Principal and interest $108.00; homeown-
ers ~ insurance policy prpaaiwn $5. 00~ per month; and taxes $7. 00
per iaonth. .
First Parties agree to utilize so much of the $120.00
monthly payments as is necessary to pay the real estate taxes
and insurance premium due thereon each year.
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First Parties will give Second Parties an annual statement
no later than February 15 of each year, showing the amount cre-
dited to principal, interest, taxes and insurance from payment.
made during the previous calendar year by Second Parties.
Second Parties agree to pay all costs connected with the
recording of this agreement, which is to be recorded no later
than December 31, 19?0, in order for Second Parties to be en-
titled to receive homestead exemption in the cominq year, to
keep the real estate taxes to a minimum.
Second Parties agree to pay when due all assessments which
may be imposed against the property for any type of improvements
made by any public body which result in an assessment being im- ~
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posed against the property.
Second Parties have the option to transfer this contract
to any other party with or without consent of First Parties.
Furthermore, Second Parties are given the option to prepay this
contract upon payment to First Parties of a 5% presaium for pre-
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payment.
~ Second Parties agree to pay all costs, charges and ex- -
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