HomeMy WebLinkAbout2638 (2) cont'd.. Refusal on the part of the parties of the second part to
pay. these late charges will be considered the same as failure to ;
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make the aforesaid regularly scheduled payments.
The parties of the second part agree and covenant:
(1) To keep the property insured at their expense with an insura~ce
com an satisfactor to the '
p y y parties of ~he first part in an amount
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of not less than $15,000.00, Said insurance to cover both fire and i
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windstorm damage, with a maximum deductible of $100.00.
(2) To pay all ad valorem city and county taxes and other governmental
assessments accruing sutsequent to the 17th day of April A.D 1973-
(3) Failure to perform any of the covenants on their part, within 30
days of the due dates, shall constitute forfeiture and termination
of the within contract and all payments made by the parties of the
second part shall be forfeited and constitute full and Iiquidated
damages to the part3es of the first part. Neither forebearance
nor acceptance by the parties of the first-part after any default
in any payment hereon, shall be deemed extension hereof.
. legal .
(4) That in the event it 3.s necessary to u~~~-~means or processes to
enforce performance of this contrac~ or to foreclose this contract
to obtain pessession of the property, the parties of the second part
agr-ee to pay a reasonable attorney's fee and all other costs pert-
aining to the legal procedures involved.
(5) That it is not necessary for the parties of the first part to
, notify the parties of the second part when any of the amounts come
~ due under this contract.
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~ It is mutually agreed, by and between the parties hereto: (1) that the
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` time of payment shall be an essential part of this contract, and that
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~ all the covenants and agreements herein contained shall extend to and
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~ be obligatory upon the successors, he3rs, executors, adminstrators and -
E assigns of the respective parties and that this herein contract is the
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only contract between the respective parties herein with regards to the
F aforesaid real property. (2) that the principal balance due under this
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~ contract can be paid off in full or in any part at any time after the
; 15th day of May, 1g78 by the parties of the second part; in the event
~ only a partial payment is made, no change will be made in the amount of
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~ the monthly payment.
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