HomeMy WebLinkAbout1090 ~
,
' ~
t
! .
i'
1
~ for the total purchase price of $34,000.00. This sum in the even
~ that the option to purchase is exercised will be paid as followsz
I (1) The 5500.00 escrow deposit will be applied
C toward the downpayment.
~
~i (2) An additional $500.00 will be paid at the
~1 time of the exercise of the o,ption to the lessor and will be
r
considered s~ Y~.rt of the gt~rcY?~sA rr~^~=
~ (3) All rent payments made by the lessee on
! apartment A, up, to and includinq the time the option is exer-
~ ~
cised will also be applied toward the purchase price.
;
i
,(4) The $75.00 damaqe deposit paid by the lessee
; to the lessor at the time of execution of this lease shall also
` be applied toward the purchase price.
f; ~ ~
(5) The lessee shall assume an existing first
t~
~i mortqage given by the lessors to Jeffrey S. Furst and Delaine C.
i
Furst, his wife. The current balance on the first mortgaqe is
eE
t+
" approximately $28,219.30.
1; ,
~i (6) The balance of the purchase price will be
paid by the execution of a promissory note secured by a second ~
~ mortgage on the premises from the lessee to the lessor. This
second mortgage will be for a period of ten (10) years and will
?f provide for monthly payments to be made; said payments to include
i ~ ~
principal and interest, with interest on the unpaid balance at
- ~
8 1/2 percent. .
I:
;i V. In the event the option to purchase is exercised as
i`~ - 1
i` provided within the eleven (11) months of the commencement of
ji
- this lease, the lessor will provide an up to date abstract to
i~ .
;}.the lessee shawing the title to the premises to be in good .
ii
marketable condition. In the event that the title shall not be
found good and marketable, the lessor agrees to use reasonable ~
~ j
~ S ~
diligence to make the said title good and marketable, and shall ~
=i have a reasonable time to do so, and if after reasonable diligence
on his part said title shall not be made good and marketable
f . ~
! ;
_ p g _ ~
sooK2~3 PAGE1091
~
-4-
- ~ d ~ - - - - - - - - _ - -