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HomeMy WebLinkAbout0384 The obligations of the Purchasers~ under this Agreement~ may be prepaid in whole or in part at any time without penalty. In the event the Seller is able to secure for the Purchasers financing at a financial institution in an amount equal to the debt due and owed to the Seller, the Purchasers will acquire ; the financial institution's loan provided that it is not greater = ~ than ten (10) percent interest per anninn and that the points and/or service charges are not-in excess of two (2) percent of ; the amount borrowed. All costs connected with obtaining a loan from a commercial institution shall be borne bq the Purchasers. Upon the Purchasers making the final payment under this Agreement for Deed, the Sellers will convey the above described property by good and sufficient SJarranty Deed to the Purchasers, subject to assessments of the non-profit corporation easements and other restrictions of public record. The Purchasers shall be permitted to go into possession of ~ the property covered by this Agreement on the date of its execution, and shall assume all liability for insurance, taxes and maintenance from and after that date. ' Required documentary stamps shall be placed on the deed by ~ i ; the Sellers. € The time of payment shall be of the essence and in the event r ~ ~ of any default in payment of any part of the purchase money as ~ and when it becomes due or in the performance of any other obli- ~ . ~ gations assu~ed by the Purchasers in this Agreement~ and in the p event that the default shall continue for a period of fifteen ~ ~ ~ (15) days, then the Sellers may consider the whole of the balance R ~ ~ due under this Agreement as immediately due and payable and ~ ~ collectable~ or the Sellers may rescind this Agreement, retaining ~ ~ the cash consideration paid for it as liquidated damages, and - this Agreement then shall become null and void. In the event that it is necessary for the Sellers to enforce this Agreement by ~ foreclosure proceedings. or otherwise, all costs of those pro- ceedings, including a reasonable attorney's fee, shall be paid by ~ the Purchasers. ~ ~ t~ k ~ ` - 2 - gacs ~U4 ~cc~ ~84 ;~F , ~ . ; ~ " ~ ' ~ _ ~ . . ~ ~.e}~' <2zf Z ~ . -3 ~ ~ ~3 y`.~l-F.`~' ~+V "J r3 ~ v..z ~ . - ~ a~i~"