HomeMy WebLinkAbout0042 i.
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DOLLARS shall be paid in the following manners
A. The additional sum of FIVE THOUSAND FIVE
HUNDRED AND NO/100 ($5,500.00) DOLLARS plus closing costs as
hereinafter defined at the time of closing.
B The balance of THIRTY FOUR THOUSAND AND
NO/100 ($34,000.00) DOLLARS shall be payable in equal monthly
installments of $325.26 in advance commencing thirty (30) days
from the date of closing, which sum shall include interest at the
rate of eleven (118) per cent per annum. - -
C. Buyers acknowledge that they are aware
that the within property is subject to a Mortgage in favor of '
GDV FINANCIAL CORP., and in this connection Sellers agree to
maintain said Mortgage in all. respects fully current and free
from default. Buyers further acknowledge that the Sellers are
required to pay a tax and insurance escrow monthly payment to
their said Mortgagee, and in addition to the payments as
hereinabove required agree to pay an amount equal to such tax and
insurance escrows.
D, Notwithstanding anything contained herein
to the contrary it is agreed that the entire balance of
indebtedness due hereunder shall be fully due and payable within
five (5) years from the date of closing, reserving unto-the
Buyers the right to prepay all or any portion of the indebtedness
at any time without penalty. -
4. 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 have the right
to inspect the property at all reasonable times until the final
performance by the Buyers has been completed. -
5. Sellers shall be obligated to pay and shall
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pay before delinquency all taxes and assessments coming due on
and after the date of closing, .said payments to be made from the
aforementioned escrow account. In addition thereto, during the
HAROIU N.GOLDMAN
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9e1t 5 iEOE11Al MAfY
07 ST. lUC1E, il.A. ~f16t
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