HomeMy WebLinkAbout0424 interest in the aforesaid condomini~n unit, which notitlcation shall be in
wrlting, closing shall t~ke place withln da~ys from the date of such
notification. ;
6. In the event either Party desires to sell, assign or transfer her ;
undivlded one-half interest in the sald condominiwn un1t, the other Party ~
hereto, shall have the rlght ot first refusal to purchase such unit at a price :
equal to one-half of the origlnal gross cost of the said unit.
7. In the event of death of elther Party, the surviving Party to this ;
Agreement shall have the right to lrtmediately take possession of the entire
condaninlum unit and the surviving Party shall further have the right to
purchase from the estate of the deceased Party hereto, decedent's right, title
and interest 1n and to tfie aforesaid condominium unit for a price equal to
one-half of the orlginal gross cost of such condominium unit.
8. If any purchase of the other Party's interest is effected as set
forth herein, 1t 1s hereby stipulated that 1n the event there is in existence
a mortgage on the condominlum unit owing equally by the Parties, one-half of
~ the outstanding principal balance oP the mortgage as of the date of closing shall
be credited torvards the purchase price in consideratlon for the purchasing
Party assuming and indemnifying the se111ng Party as to such mortgage.
;
9. So long as the Parties hereto each o~m an undfvlded one-half lnterest {
E
in the aforesatd condominium un1t, nelther Party shall mortgage, pledge, ~
,
~ apothecate, lien or in any way encumber her lnterest in said condominiun unit, ~
~
; wlthout the express written consent of the other Party hereto. ~
~ 10. This Agreement shall be binding upon the heirs, successors, adminis-
~
~ trators and assigns of each of the Parties hereto. ~
~ reunto set their hands and seals I~
~ IN WITNESS WNEREOF the Parties have he _
~
~ on the day and year first above written.
M ~
~
~ WITNESSES : JQ. ~ , ,
~ u~i -
~ He ene . Sc we ge
~ ~
~ _
~ ;
+t t
~
St
a ~
~ ~ t e M. Rose .
~
~
~
Gt
~
~
~
~
~ gG~.+. ~U4 424
~
~
~y::
~'~MMY~ _ " _ _ _ _ r ..y -Y'Y ~
' ~ ~ .~r ~`s" '-'~"s
.Y a " s Y
'4b . ~,~_-,~c~. _ . . _ : , v ~a~~^
5