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ARfiICL~S O~ A~R~tE~ a Paqe 2. _
adjusted accordingly. Furthermore, if paymente are
not received by the ~th of the month when due, a
penalty charqe of $6.60 will be made. In addition,
if payments are not received by the ZSth of the month
when due, intereet at the higheet legsl rate shall
be caaputed from the date of the last payment made
a ~s_ a.1~...r..~1s ~-1~e Aa~a }l~e fst"ra~Y'l~9
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rectified.
The monthly payment of $132.00 ia computed upon the fol-
lawing premise: Principal and interest $117.25; homeawners in-
surance policy premium $5.00 per month; City and County taxes
$8.50 and termite policy $i.25. .
First Parties aqree to utilize so mueh of the $132.00
montiiiy paymenis aet .i.ts iae'sv`-caaaiY ~^v ~j~ ~~f'Rf'Q ~~_x_~!s
and insurance premium due thereon each year.
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, 1972, in order for Second Parties to 'be entitled to
receive homestead exemption in the coming year, to keep the real
estate taxes to a minimwa.
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-
posec~, 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 thie ~ t
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f J O ~Y3d"n d ~ - LAW OFFIC[S ~24?7
N t~ - 2 ~ 7 5~ WILLES, BiTTAN ~ WItLE8
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