HomeMy WebLinkAbout1428 ~
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deliver to the Purchasers a Warranty Deed.
Upon the Purchasers having paid eighty-four (84)
coasecutive payments under this Agreement for Deed the Sellers I
promise and agree to convey the property above described to
the Purchasers by good and sufficient Warranty Deed, whereupon
the Purchasers will execute a promissory note and purchase money ~
mortgage covering the above described property to secure the
balance then remaining, bearing interest at the prevailing rate
of Eederal Savings and Loan Associations per annum and payable
at the rate of $202.00 per month until paid in full with the
payments to be applied first to interest and the balance to
principal and with the right of prepayment at any time and from
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time to time without penalty.
~ The Purchasers shall be permitted to go into
possession of the property covered by this Agreement on the date
y of its execution, and shall assume all liability for insurance,
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taxes and maintenance from and after that date. T'he Purchasers
~ agree to maintain the exterior and interior of all buildings
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I in good condition and to maintain fire and extended coverage
insurance on the buildings in an amount of not less than the
balance due Sellers under this Agreement or the maximum insurable
value of the property, whichever is less .
Required documentary stamps shall be placed on the
deed by Sellers. In the event that a'purchase mor.ey mortgage
is taken by the Sellers as a part of the purchase price, the
intangible tax on it shall be paid by the Sellers, and the
~ required documentary stamps on the notesecured by it shall be
paid by the Purchasers.
The time of payment shall be of the essence and in
the event of any default in payment of any part of the purchase
51~1iTN AND BRENNAN ~
~?w~~~ money as and when it becomes due or in the performance of any
an~ a~ulClliON ~u1lOtMo
:o~T P~eace, FLORICA other obligations assumed by the Purchasers in this Agreement,
33~50
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T«<.„oNE ~ -2- ~ BOOK ~~7 PA~~1426 ~
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