Laserfiche WebLink
shall be conveyed to the Purchasers free and clear of all liens and <br />encumbrances which are or may be the obligations of first parties <br />and including real estate taxes for 1957 and prior years. The deed <br />shall be a standard deed with right of ;survivorship vesting the entire <br />title in the survivor and this contract shall be considered as having <br />been made with the Purchasers as husband and wife, as joint tenants <br />and not as tenants in common, and in the event of the death of either <br />of said Purchasers, the entire fee simple title to the real estate <br />fescribed herein and to all rights under this contract shall vest in <br />the survivor of them, conditioned upon such survivor complying with <br />all terms and conditions of the purchase agreement as herein set <br />forth. <br />A portion of the consideration paid herewith and paid at <br />the time of the execration of this agreement is being paid direct to <br />the Sellers or their agent and the escrow agent shall in no way be <br />responsible for any funds paid directly to the Sellers or be respon- <br />sible for enforcing repayment thereof to the Purchasers if dts <br />transaction is not finally consumated, and all brokers commissions <br />shall be paid by the Sellers direct. <br />Thy; Sellers agree that they will do nothing or suffer <br />anything to be done after the abstract has been extended by them as <br />hereinabove required and submitted to the Purchasers'-for examination <br />which in any way will thereafter encumber or alienate the title. At <br />any time before final payment is made purchasers may at their own <br />expense have the abstract recertified for further examination and <br />assurance nothing has been done by Sellers or has occurred so far as <br />the Sellers are concerned which has altered the status of the title <br />as to such Sellers subsequent to the first extension of the abstract <br />required to be made by the Sellers. Should it be found that there <br />have been any changes affecting the title for which Sellers are <br />responsible, the Sellers agree to immediately take such steps as may <br />be necessary to correct the same and in that event the costs of the <br />further extension of the abstract shall be paid by the Sellers to the <br />Pu,- chasers. <br />It is understood by the parties hereto that the Purchasers <br />may frow time to time sel7 portions of the real estate hereinabove <br />described. If such sales are made, the same will be for a minimun of <br />xhree hundred & No�100 ($300.00) per acre. The Sellers shall not be <br />required to do anything to change or alter the terms of the agreement <br />and provisions of the agreement as hereinabove set forth during the <br />year 1958. If, at any time after January 1, 1959, the Purchasers <br />notify the Sellers that any portion of the premises hereinabove <br />described has been sold on the basis of a minimum of $300.00 per a,-,re <br />and in the aggregate of Fifteen.. Hundred a No/100 ($1,500.00) Or <br />more, and ail of which sum the =purchasers shall apply on the balance <br />Of the purchase price, the Sellers agree to convey to the purchasers <br />and direct the escrow agent to deliver to the Purchasers, the deed <br />placed in ea crow and the Purchasers agree to execute their Promissory <br />installment note for the unpaid balance of the principal then remaining <br />due after application of the amount received from the sale of any <br />Portion of the tract secured by a purchase money first real estate <br />mortgage on all of the premises except that portion sold by the Pur- <br />chasers herein named. The promissory installment note, which the <br />Purchasers shall then be required to execute to the Sellers, shall <br />provide for the payment of a minimum of Six. Hundred Fifty -three & <br />33/100 Dollars ($653.33) per annum, commencing March 1 of each year <br />thereafter, with interest at of per annum on the unpaid principal <br />except, that as additional sales are made for a minimum of Three Hun- <br />dred and No/100 Dollars ($300.00) per acre, the Sellers agree to <br />execute partial releases of such additional portions sold of the mortgage <br />hereinabove referred to, upon payment to them of the proceeds from the <br />-3- <br />