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Addendum to Articles of Agreement between Dean T. Klein and Claire
' G. Klein, his wife and William D. I-tarsh dated January ~t0 t'~, 1981:
Trust dated ?/10/80
In addition to the principal and interest payr.ient set forth, vendee
shall pay an additional sum of $128.10 monthly to the vendor which
sum shtall be applied toward real property taxes and insurance on
the referenced properties. In the event said sum shall exceed the
total of said tax and insurance payments, vendor shall promptly
refund such overage to the vendee. The total monthly payment of
principal, interest~, taxes and insurance shall be $640.00 (Six
hundred forty dollars) . Vendee shall pay any increases in taxes and in-
surance upon written notification from Vendor.
Vendor guarantees Vendee that until 18 January 1984 the income shall be sufficient
to pay the existing First Mortgage oayments, including taxes, insurance, the cost
of r~ornial maintenance and the cost of managing the property. Vendor agrees to
reimburse the Vendee for any deficit which may result. This guarantee is con-
tingent uoon the following conditions: 1. No repairs or improvements shall be
made to the property without the Vendors consent or if made without Vendors con-
sent shall be paid for by Vendee. 2. Yendor shall have fu-11 and absolute authority
to instruct and deal with the real estate company that manages.the oroperty.
3. Mothing herein is to preclude the Vendee from stepping in and making additional
repairs or imQrovements at his expense. 4. Vendee shall have the option to void
the guarantee provision only if Vendor: (a) fails to make payments to maintain
the break even position; OR (b) fails to maintain orooerty, reasonable wear and
tear excepted.
It is ~ynderstood by both parties that Vendor is motivated to maintain the pronerty
for the exQressed purpose of receiving the positive ash flow during the guarantee
period. . `~~//~ .
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Rsre'red =~S '~ in Payment Oi Tanes Dean T. Klein
Due On Class "C'" mtanpible Perswnal Rrop~rty ~, ~
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Pursuant To Chapusr T1, 134, Acq pt ih~. C la i re G. K lein
ROGER WRRAg ~ William D. Marsh Trust Dated
C~k Circuk Court,.~t Luoi~ C~, ~, ~ ,~ulv 1Q. 1980
h ? . ~ /~i `~y,~___.
" ' • ~ ~ i iam ll. Nlarsh, 'I'rustee
State of ~
County of ~ ~
I hereby certify that on this day, before me, an officer duly
authorized in the State aforesaid and in the County aforesaid to take
acknowledgements, personally appeared [~ILLIAM D. MARSH, to me known to
be the person described in and who executed the foregoin9 instrur.ient_;,,,.._.
and acknowledged before me that he executed the same. ,~ :,~`.~~~'=~:~_`;~
WITNESS my hand and official seal in t~e County and Sta~r'~~~~' '~'. ~
aforesaid' this da `-'~ day of January, 1981. -~ ~,=~~•~ ~•-~' ~~
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