HomeMy WebLinkAbout0843 *t_hence starting with tract 14 in a northerly direction, thence tract 4 in a ;
southerly direction, thence tract 12 in a northerly direction, thence tract 6 in
a southerly direction and finally tract 10 in a northerly direction,
direction from the first parcel deedec~ in a manner so
unreleased
that al],/~adad property remains contiguous and so that
the deeded property remains as close as possible to a
rectangular shape, that is to say that all of tract 1,
2, 15 and 16, shall be deeded before any portion of
tracts 3 and 14 are deeded, and all of tract 3 and 14
shall be deeded before any portion of tracts 4 and 13 -
are deeded. Also, tract 7 shall be the last deeded of
the parcels in the southeast quarter of Section 23. No
portion of parcel B, the parcel located in Section 22,
shall be deeded until the Buyer has fulfilled all of his
obligations of payment required by this agreement.
(3) No tract of less than five (5) acres shall
be deeded at any time. No tract shall be deeded until
there is a payment on principal at the rate of $1,850.00
per acre.
(4) The five (5) acre tract to be deeded shall
be described as the North 1/2 (N 1/2) or the South 1/2
(S 1/2) or as the case may be, the East 1/2 (E 1/2) or
the West 1/2 (W 1/2) of the tract numbers designated on
f the existing plat of the property. For purposes of com-
E
~ puting the number of acres deeded, it shall be assumed
~ that each tract on the existing plat contains ten (10)
acres, whereas the number of acres in each tract may be
less than ten (10) acres on account Of rights of ways
~ reserved by this Contract.
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~ (5) The right of the Buyer to obtain the deeds
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~ on account of principal payment shall be cumulative and if
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payment of principal and interest is paid and no deed is
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= requested or issued on account thereof, the Buyer shall
have the right to request and receive deeds to which he
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thereby became entitled at any date after•said payment, '
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all prepayments of principal shall apply on the next
principal payment due. All payments on the contract shall
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