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shall be paid by the Purchaser to the Seller in the followinK manner:
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~ A. The surn of Two Thousand Dollara upon cloeing. r
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B. The balance in the sum of Thirty Thousand Dollars shall be payable
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at the rate of ~d~~~ per month, including interest at the rate of ;
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9 3/4 per cent per annum for a period of one year from the date of
closing; an additional principal payment of Four Thoueand Five Hundred ;
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Dollars one year from the date of the closing, said payment to be applied 1
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in its entirety to the mortgage that is hereinafter described and the '
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• assumption of the said mortgage by the Purchaser at such time in the
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. then principal balance of approximately Twenty-Five Thousand Five
Hundred Dollars representing the remaining balance of the purchase '
price due .hereunder. ~
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4. Purchaser ehall be entitled to possession uf thc premises
herein described upon the closing hereof, and during the lif~ of this contract,
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' Purchaser shall maintain the property, including improvements erected
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thereon, in a state of repair and condition that is good and proper. Seller
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~ shall have the right to inspect the property at alj: reasonable times until the
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~ final p~rformance by the Purchaser has been completed. .
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~ 5. Purchaeer shall be obligated to pay and shall pay before
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s delinquency all taxes and asseasments coming due on and after the date of k
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' closing. In addition thereto, during the life of this contract, Purchaser `
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~ ehall inaure and keep insured against fire or other casualty all improvements
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now on the property and improvemente that may hereafter be built thereon ~
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~ in an amount not lese than ~30, 000. 00 ; anci said policy of insurancc shall €
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; H, ~,o„ have contained upon the face thereof a mortgagee clause in favor of the
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` w2aif'°"ar+.rn' Seller ae his intereet may appear. All premiums on euch policy ehall be
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~ paid by the Purchaser.
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