HomeMy WebLinkAbout0050 s
. ,
and if euch default continuee for 30 days, Seller at their aption may:
A. Declare a forfeiture of Purchase'e rights hereunder and ca~ttcel
this contract. On ouch election, sll right, title and interest of the Purchaser
~ hereunder ehall ceaae a~ determine and all payments theref ~r,dmade by
Purchaser ehall ba ratained by the Seller as liquidated damages and ae ~ ~
;
rental for the uee and occupancy of the property.
B. In lieu of declaring a forfeitnre, accelerate and bring an action ,
. ;
for the balance of the purchaee price remaining due, or for any other ~
rflief available in law or equity, including suit to recover any payment or
payments made by the Seller and repayable by the Purchaser hereunder, it
being etipulated and agreed that auc~? obligation to re-pay is a separate and
independent covenaat of the Purchaser. No actidn to recover any payment
or payments so made by the Seller shall conatitute a waiver of the righta to ~
. ~
proceed otfieryvise with respect to any subsequent default. ~
C. No waiver by the Seller of any default of the Purchaser shall be .
construed as a waiver of any subsequent default.
.
10. The partiee acknowledge that defa>>lt shall be conatrued as
having occured hereuader when the payment as required by the Purchaser r
ahall have beea delayed or not made within thirty (30) days of the due date ~
thereof. -
- ;
11. Yurchasers acknowledge that they are aware of the existence
of a first mortgage on said property in favor of GDV Financial Services,
Inc. , in the present principal balance of approximately $30, Q00. 00.
Payments on said mortgage, including principal, interest, taxes and
~ insurance are the sum of $304. 00 per month, with the principal payments
being in the sum of $254.22 per month. In this connection, Purchaser
;
agreea to make the. aforesaid required payments of principal and .inte~est
OS
and to remit the difference in the sum of per month to the Seller as
H°~old M' G°b""°" well as to maintain the escrow account for taxes and i»suxance at all times
ATfOp~Y,AT-U1W
iOQ~:. R~eal Mwf~. e
current.
' 80fl1( ~?a7J P11f~ t~
`4 _ s
- , ~ A~ -~t ~ - - - ~ _ _ ~