HomeMy WebLinkAbout0183The parties of the second part further agree that allowance
of an~- lien, judgment or other claim against the premises shall
constitute a breach of this agreement, and same shall be immediately
resolved so that there is no claim against the property resulting
from the action of the parties of t~e second Dart. The parties
of the second part further agree that in the event it is necessary
to take action to enforce any of the provisions of this agreement
whether by suit or otherwise, that the parties of the second part
shall, in addition to all other obligations required hereunder, be
responsible for, and do agree to pay a reasonable attorney's fee
for the services of the attorney of the parties of the first part
in enforcing-this agreement or collecting amounts due thereunder,
whether by suit or otherwise. The parties of the second part do
further agree that in the event a foreclosure of this agree~ent is
required, that they shall be responsible for all costs involved
therein, including a reasonable attorney's fee.
The parties of the second part do further agree that this
agreement is not assignable without the consent of the parties
oF the first part. The agreement is being entered into because
of the personal evaluation of the parties of the second part by
the parties of the first part, and in the event there is any action
taken to transfer any interest iri the property by the parties of the
second part, all payments required hereunder shall be due and payable.
The parties of the second part shall furnish proof of insurance
coverage showing the parties of the first part as named insured,
with a provision in the policy that the policy will not be cancelled
withovt notice to them. Proof of payment of the real estate taxes
shall also be given them, and taxes shall be paid before they become
delinquent. If eligible, the parties of the second part shall
furnish proof of the application for and granting of the homestead
exemotion. The parties of the first part may require the taxes and
insurance to be paid to them in monthly installments to be computed
by dividing the estimated taxes for the year and the insurance premium
by 12 with 1/12 being paid to the parties of the first part each
month. The insurance policy shall carry any mortgage holder as a
~ named insured and meet the requirements of any mortgage holder.
i ~~345 P~E i82
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