HomeMy WebLinkAbout1594 and then to the unpaid pYincipal b~ance, with
intere$t from the date hereof at the rate o~
Eight (8~ percent per annum on the unpaid
balance. 'I~vo or more paym ents may be m ade
at any time by the parties of the second part on
any installment due date, without penalty, but
the making of such additional payme~rt does not
extend the date of the next due payments.
And the parties of the second part further covenant and agree as follows:
1, To pay all taxes, assessments, or impositions that may be
legally levied or imposed upon said land subsequent to the 31 st day of Dec-
ember, 1971. _
2. To maintain in a state of good repair the building situate on
the above described property and to suffer no waste or impairment of the same,
rea~onable wear and tear of the same only excepted.
3. To allow no liens to be placed on the above described pro~erty
for materials furnished, or labor performed thereon, and if such liens are
so placed, the same may be paid by the party of the first part and each such
payment, plus interest thereon at I(~ per annum, shall be added to the unpaid
~ balance of this agreement. To promptly pay for all labor performed and mat~
erials furnished upon the above described property. -
4. To pay a reasonable attorney's fee and all Court costs should the
~a~ of the first part be forced to take legai action to enforce the provisions
hereof, or should the paxties of the second part breach this Agreement and re-
fuse to quit the premises, maldng it necessary to bring eviction proceedings
against them , or should the party of the first part be required to foreclose
this Agreem ent or otherwise bring legal acrion hereunder.
5. To promptly pay each and ever-~r installmern hereunder as the
sam e becom es due, rime of paymern being of the essence.
6. The parties of the second part shall keep and maint$in, through-
out the life of this Agreement, a policy of fire and extended coverage insurance
upon the above described property for the full insurable value; such policy to
nam e as loss payee the party of the first part. Pames of the second part sha11
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