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The balance of the purchase price in the sum
of FORTY SIX THOUSAND FIVE BUNDFc6D AND NO/100 ($46,500.00)
DOLLARS shall be paid in the fo~.lowing manner:
A. Said sum shall be paid in cash within a
period of Two (2) Years from the date hereof , although payment of
said sum may be made_by the-assumption of that certain mortgage
in favor of GDV FINANCIAL CORPORATION (assigned to the
- WILLIAMSBURG SAVINGS BANK) aS the principal balance of .
indebtedness and accumulated interest due thereon-may exist at
the time of said payment of the balance due, and which mortgage
the Buyers herein shall agree to assume and pay.
- _ ~ ~ B. Upon payment of the aforesaid sum of FORTH
SIX THOUSAND FIVE HUNDRED AND NO/100 ($46,500.00) DOLLARS the.
Sellers .shall execute and deliver to the Buyers a General
Warranty Deed for the aforesaid property, subject only to the
then existing balance of principal indebtedness due GDV FINANCIAL
CORPORATION as hereinabove set forth, and all documentary stamps
and recording fees due. thereon to be paid by the Buyers. -
- C. Notwithstanding anything contained herein
to the contrary and without being given any credit t~nward the
purchase price hereof the Buyers do hereby agree to pay to the
Sellers the sum-of FOUR HUNDRED AND-NO/100 ($400.00) DOLLARS per
month during such time and until they shall have completed the
payment of the purchase price as herein required, said monthly
payments to commence upon the date o€ the closing. -
- 5. Buyers shall be entitled to possession of the
Premises herein described upon the closing hereof, and during the
life of this contract, Buyers shall maintain the property,
- including improvements erected thereon, in a state~of repair and
condition that is good and proper. Sellers shall fiave the right
to inspect the property .at all reasonable times until the final
performance by the Buyers has-been caapleted.
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6. Sellers shall be obl ig-ate~3 to pay and shall
pay before delinquency all taxes and assessments coming due on
and after the date of closing. ?n addition. thereto, during- the
HARO~N.c~oww life of this contract, Sellers shall insure and keep insured
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