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sum ot Thlrt7rsight Thousand Four Hundred Dollars ($38,400.00) whioh amount Vendee agrees to
pay to Vendor as tollow.:
the aum of Ninety Six Hundred Dollara ($9600.00) in oash. paid this day, the reoeipt ot
whioh is hereby aoknowledged, and the remainder ot sai1purohase prioe in installaents aa
tollo.. a
Ninety Six Hundred Dollars ($9600.00) payable On or betore July 25. 1926.
Ninety Six Hundred Dollar. ($9600.00) payable on or before July 25, 1927.
Ninety Six Hundred Dollars (19600.00) payable On or before July 25, 1928.
Said deferred payments to be evidenoed by three (3) promissory notes of even date here-
with
withJinterest at the rate of seven peroent. per annU::l. payable semi-annually. on the whole
sum remaining rrom time to time unpaid. All sums not paid when due shall draw interest at
I the rate ot eight ~eroent. per annum.
I It is mutually covenanted and agreed that the Vendor will p~ all State, County, and
drainage taxes up to and inolud1r~ those for the year 1924. and that the Vendee will pay all
subsequent taxes on 3aid property. trom July 1, 1925.
It io mutually oovenanted and agreed by the parties hereto as follows:
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That the Vendor;
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after reoeiving ~ent in full of said prinoipal and interest and all other sums oharg3able I
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I in its tavorhereon and the perform~loe ot allot the agreements of said Vendee herein OOn- i
Itained. and upon the surrender of this oontraot. will at its OWl expense, furnish an abstraotf
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of title showing good title to sai~ premises in said Vendor and exeoute and deliver to said !
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Vendee a warranty deed of said desoribed premisea, exoepting rrom said warranty all liens and!
inoumbranoes whioh may have aoorued on said land or buildings subsequent to the date hereot. !
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or through the aots or negligenoe of said Vendee, provided, however, and this oontraot i8
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lup~n the express oondition that
Ito be made by the Vendee be not
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fsame beoooe due and payable. or in the event of the failure of the Vendee to perform, oomply
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I with, and abide by any or the oovenants or agreements of the Vendee herein set forth. ~hen
in suoh event 'Or either or th~. the Vendor may at its optio~ pursae either of the following
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!oouraes. to-wit:
in the event that any of the payments hereinbefore required
pro~ptly and rully paid within sixty days next after the
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;der by the Vendee as rental for suid land. and in li~uidatlon and satisraotion or the damages;
IbY the
lot the
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shall have the right to
Vendor sustained by virtue of the breaoh hereot by the
The Vendor may terminate this oontraot and retain ail payments theretofore made hereun-
Vendee. whereupon all liability
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B. The Vendor may deolare the whole or the unpaid balance of said purchase prioe to be due I
~and payable forthwith. and may Pla~e this oo~tract in the hands or an attorney ut law ror thel
oolleotion or suoh unpaid balanoe. and if so plaoed in the hands of an attorney at law. the i
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The tLme of payment shall be of the very essenoe of this oontraot. but no delay or omi- I
parties, the one to the other. hereunder shall oease and deternine, and tne Vendor
re-enter and take possession of said land:
or
Vendee shall pay to the Vendor a reasonable attorney's reel aa well as suoh unp~id balanoe.
'ssion or the Vendor to exercise any right or power aooruing upon any detault made by the Ven-!
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dee in any or the payments hereinbefore required to be made by the Vendee. or upon any
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default in an7 of the oovenants or &Breements herein of the Vendee shall impair suoh right or!
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power, or shall be oonstrued to be a waiver of any suoh detault or aoquiesoenoe therein. i
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!his oontraot shall extend to and be binding upon th~ suooessors. assigns. heir. and I
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per8J;~1 representatives ot the Vendor and of the Vendee, and eaoh of theQ; provided. howevel.
that said Vendee shall not assign thi8 oontraot. or any interest therein. without the oonsent
of the Vendor being endorsed in wr\ttng hereon and Oil the duplioate oopy thereot held by the I
Vendee. t
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