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maintain fire and extended coverage insurance on the ianprovements through the -
condominium association or individually in an amount of not less than 170.000.00 or
the maxinnum insurable value of the property. whichever is less.
Ad valorem taxes for .1880 shall be based upon 1878 actual tease and prorated with
a four percent (4~ discount as of the date of closing and the responsibility for the pay-
ment thereof shall be with the Purchaser.
Upon delivery of the General Warranty Deed. the required documentary stamps
shall be placed on it by the Purchaser who has. as of the date of this Agreement for
Deed. received a credit for said documentary stamps from the Seller.
Bxcept as otherwise herein provided. the time of payment shall be of the essence
and in the event 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 obligations . assumed by the
Purchaser in this A eement. and in the event that the default shall continue for a -=-1
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period of fifteen (15) days. then the Seller may consider the whole of the balance due
under this Agreement as-immediately due and payable and collectible. or the Seller
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 Seller to enforce this Agreement by foreclosure proceedings or
~'i otherwise , all costs of the proceedings . including a reasonable attorney's fee . shall
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~ be paid by the Purchaser .
~ The obligations and benefits under this Agreement shall extend to the personal
~ representatives. heirs. successors and assigns of the resepctive parties to it.
IN WITNBSS WHBRBOF . the parties have set their hands and seals the day and
year first above written. Subject to Rider attached hereto and made a part
hereof .
S sled and delivered SELLER
esence of:
a~
TERRY B.HBNDERSON
l - (~C ~ AL)
~ _ CY HIA L . NDBRSON
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