HomeMy WebLinkAbout0408 In order to more fully protect the security of the Sellers
retained title to the Property, the Buyers shall pay each
month to the Sellers, together with and in addition to the
monthly installment payment due on the $33,800.00 principal ~
balance referred to herein, an installment of one-twelfth of
the estimated taxes and assessments next to becoane due and
levied or to be levied against the Property and an install- ~
- ment of one-twelfth of the premium or.premiums next to be-
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come due on the policy or policies of fire and other hazard `
insurance covering the Property. As of the date of this
agreement, each monthly tax installment shall equal $22.98
and each monthly insurance installment shall equal $5.35. In
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the event the tax assessment and/or the cost of insurance ;
changes, the Sellers shall notify the Buyers in writing of
the change, and the amount of the monthly installment of the .
affected item shall be changed accordingly.
The parties hereto agree that the time of each payment
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; referred to herein shall be an essential part of this Agree- _
; ment, and that all covenants and agreements herein contained ~
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~ shall extend to and be obligatory upon the heirs, executors,
- administrators and assigns of the respective parties. ~
Any notice or conununication which may be or is required ~
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to be given pursuant to the terms of this Agreement shall be ~
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in writing, and any such notice or communication shall be €
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deemed to have been given when mailed to the receiving party ~
~ by registered or certified mail, return receipt requested,
~ addressed to such party at that party's address as set forth
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~ herein. ~
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