HomeMy WebLinkAbout0302 and in addition to the payments as hereinabove required agree to
pay an amount equal to such tax and insurance escrows. At the
present time such additional monthly payment required to be paid
by the Seller and which will be added to the payments due from
the Buyers to the Sellers is the sum of S 128 ~5u . each party
recognizing however that this sum may change from time to time.
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. Buyers shall be obligated to pay and shall 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
life of this contract, Buyers shall insure and keep insured
against fire or other casualty all improvements now on the
property and improvements that may hereafter be built thereon in
an amount not less than its full insurable value, and said policy
I of insurance shall have contained upon the face thereof a clause
in favor of the Buyers as their interest may appear. All
~I premiums on such policy shall be paid by the Sellers from the
~ i
aforesaid escrow account, all insurance proceeds shall be payable
to the respective parties as their interest may appear, any
excess funds thereof to be paid to the Buyers.
~ 6. Buyers shall have the right to prepay all or
any portion of the within mentioned indebtedness in whole or in
I part at any time without penalty and may, in the payment thereof,
~ assume the existing Mortgage of the Sellers in favor of the
GDV FINANCIAL CORPORATION as it may then exist.
7. Sellers have obtained or shall obtain prior to
the closing hereof an Abstract of Title certified to at least the
date of this Agreement and shall pay the cost thereof, said
.+:~ROLJ H. GOLOMAN
~TnRNE1fATEww Abstract showing good and merchantible title, subject only to
+?:RS FEDERAL tRRY.
;r lilClE. FIA ~F
this contract, the mortgage hereinabove referred to, taxes and
8~ P1GE
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