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containi~g the offer. During said sixty (60) day period, the retaaining ~
Beneficiaries of the parcel so affected shall have the optiot? to purchase ~
the interest of the first Heneficiary in the parcel so affected in accord-
ance with their respective ownership interests as set forth in Paragraph
"FIRST A" of this Aqreement at the same price and upon the same terms as
contained within said bona fide offer in writing. If, during said Sixty
(60) day period, the other Beneficiaries do not exercise said option, then
the said bona~fide offer by a third party shall be accepted by the Trustees,
and the sale of such interest shall be consummated at the price and upon
the terms of said offer. A bona fide offer in writing, as contemplated
herein, shall be defined as one made on a standard Realty Board form of
deposit receipt, accompani~d by a"Binder Deposit" of 1096 of the purchase
price, for the purchase of that particular ownership interest in an "as is"
condition, containing no conditions requiring rezoning and no optioAS to
purchase or otherwise.
EIGHTH: The Beneficiaries agree to pay their proportionate
share of all mortgage paym~nts due and of all taxes assessed against
said property as set forth in Paragraph "FIRST B" of this Agreement and
that the payment forthe taxes shall be made on or before Dezember 30 of the
year in which they become due and payable. The payment for the mortgage
payments due shall be made fifteen (15) days prior to the date that the
said payment is due. The payments herein required to be made shall be
made to the Trustees who will thereupon be charged with the obligation of
effectrn a ment of the taxes aand of the mortgage. The term "taxes" ~s ~
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used herein, means any and all assessments and levies of any governmental '
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agency which affect the trust property. `
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NINTH: In the event any beneficiary defaults in paying his,
her or their proportionate share of the taxes, casualty insurance and of ~ 1
~ the mortgage payments, as required in the preceding paragraph hereof, then
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~ the other Beneficiaries may advance the amount which the defaulting Bene-
; ~ficiary is required to pay, and the amount so advanced by said Beneficiaries ~
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~ will be secured by a lien against the defaulting Beneficiary's interest in
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i the property in the same manner in which mortgages are foreclosed in the -
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