Loading...
HomeMy WebLinkAboutScan_2081 ~o -.". , ~. . -- . . ... -- . ... .~- .. ~--.....;....~-_..__...---_._-------_.---...- --_.:.-...:... --- - _..:...:... ~--~.:....:...-.:.:_--:.-~~;,. .~..~ :_-- ---.--':~'::"'::::':":'~.--:'~':;" --:..-.:-.-.-,- --- ',-- -'-- lS.quidate and satisfy one-tenth of the said purohase money mortgage p~ent ani interest due on June 1st, 1924, above referred to, an~ the intereat on said note for .6673.29, and not leis than one-half of the prinoipal amount of said note for 166'13.29, then the balo.rioe of the prinoilla1. 611\011l1t 0'1 sUd note shall be oarried by ,3tandard until June 1st, 192t;. Should, however, said proo6eda fail to liquidate the said two obligations to the e:JItent bar.in last mentioned, then and 1n that 088e the 41fferenoe shaU be paid by Spadero to Standard on JUDe 1st, 1924. rnTH: l!'rom the prooeeds 0 f the sale of the 1924-25 oi trus fru! t orop 8rown upon 8ald premieu. there shall be deduoted the pioki~. hauli~ and J80king oharges for said fru! t. 1~ of the net pro oeeds hom the sale of said orop then rema ining s hftl.l be f1pplied by Standard as follows: (a) Towards the payment of any balance whioh may have been oall ied over for Spadero on his note for i6673.29, and interest. as hereinbefore pr~vided. (b) Towards the payment of one-tenth of the lurohase money note and in'ter- est thereon. hereinbefore referred to, due June 1 st. 1926. In the event that the one-tenth or the net prooeeds of the said 1924-25 crop shall be insufficient to liquidate the s81d indebtedness referred to in sub-pAragraphs .a and b. last above. then such differenoe shall be paid by Spadero to Standard on June 1st. 1925. SIXTH: Provided and on condition that Spadero shall pay to Standard the '..~.'... f , j BUms o:t money hereinbefore provided for at the time of the plyment mentioned therefor. and :ahall in every other respect comply wi th the terms. pro'iiaions and coDdi tions of this agree- mint, it being r.ereby covenanted and agreed that time is of the essenoe'of this agreement, Standard shall convey to him by properly exeouted warranty deed, a goOd and sufficient fee simple title to an un-divided one-tenth interest in and to the property hereinbefore des- oribed. freed and discharged of all liens or incumbrances. save and except current t~es. State, County, and Drainage. Spadero agrees to pay one-tenth of all taxea. State. County. and Drainage. upon said property, commencing with the year 1923, In the event that Spadero should fail to pay to Standard the amns of money hereinbefore provided for. at the timeaf the payment mentioned therefor. or should he fail to c anrly d. th the terms, provisions and conditions of this agreement or any of them. in the uanner and form herein provided. then and in that case "the Raid Spadero shal~be divested of all right. title or interest in alid to sad premises. and Shall have no rights therein. and Standard shall be released from all obligations to convey to Spldero the interest in Raid :pro.perty as herein provided. and shall ret,.,in all a 1mB of money paid by Spadero under the terms hereof. as liquidated damages for the failure of the said Spadero to canply with the terms, prov08ions and conditions heraof. SEVEnTH: It is fUrther understood and agreed and a oondition hereof, that 8tan4ar4 Rhall have the 901e supervision. oare. rnanagemen~. and control of said Froperty. and shall oul tivate. oare for and .fertiliz. the trees growing thereon, according to its best judgment. Standar4 shall alao have the excluai ve right to harvest am market the fru! t p.r Odu'!ed thereon, in 81 ch manner or through Ruch ohannels and to sell and dispose of the same to .~oh persons, in suoh markets and at suoh times as to Standard shall seem best. Spadero shall pay 1~ of the oosts and expenses of the oare, cultivation. supervision, fertilization and maintenanoe of said property. and of the expense of piaking. haUling, paoking, transpor- ting and 8.lli~ the fruit grown upon 8aid property. as said expenses au InOurred. ani upon deman! of S~Ddardt exoept tha' piok~ng. hauling. packing, transportation, and .elling expenses shall be pald through the medium of deduoting from the mODelS arising from the sole : of the oro:pl of fruit gruwn upon said pr operty in 80 far as suoh moneys are sufficient to \ d ~ . ~ . P, __,/ '. .~:: "'.~ ::: ,-:.:~ .:......... _~~' - ~.. . >:,~.~..,,:.~~' .~:. ::. : , '. t . , . .,. . ',~ >:.~.;:~;{~:.~...~, > . ~ , ~ ~~~ ...... -. .... .