007-585 - Laserfiche WebLink

Browse

the event of default by the purchaser, then, after sixty (60) days notice to the purchaser at his last known address, by registeretl r:.a:il, the seller shall be entitled to have said deed, abstr�.ct _,,:::1 insurance policies redelivered to him and the purchaser �:t_,roes to va.cate and surrender possession of said premises to the In t lat event the seller shall be entitled to retain all pa,.-i:lents of principal and interest made hereunder by the purchaser as liqui- :ated damages and rent. The seller agrees to pay all real estate taxes for the 1958 and thereafter such taxes and assessirents shall be r.ade by c,h.e purchaser. The preri:ises shall be to the purchaaser free ar-d cla�:r of all liens and encurcbrances including such real est�:t< ta:;;es ful, 195''.. The deed shall be a standard Zaarranty deed conveying; t ,e premises to the purchaser. The purchaser agrees to take over such insurance c.s th.e s(,IIe now i-ia.s on the improvements on the premises and agrees to pzzy tc, the seller the unused portion of the prer�:iums computed on a prc r ltr, f.c:r, and after I-larch 4, 1959. such insurance shall be for fir( extended coverage and shall be carried and raintain.ed in a. ror,� )any satisfactory to the seller. The insurance on the (,, erts now on the prer::ises shall in no event be less than the amount c�,rrie:.i by Seller thereon but purchaser s:.,_ll have the right to C.cquirc d iitional. i.;..urance at his option. In case of loss any proceeds received fr°o:: sac''i insurance shall be applied on the purchase price unless usaa by par chaser.• for restoration of the improve.r.erts. All policies., r.all contain rw sufficient endorser.ent pr.cviding proceeds are to be to t1_ ie parties as their interest ii-.ay appear. In the event p.:rc:A :per f<;.ils to maintain such insurance in the minimum amounts as Y.,er( in ,et forth, or shall fail to pay pre_::.iums after the same becor.; due, tyre seller shall have the option of -.raintainiiv, such insurance r:1.ci i.f tI':e purchaser fails to repay any a nounts advanced to sellci` . _J ,hin 30 -. ".r ys after written derrand is made on the purchaser -it his list xrtor.rr address the same shall corstit;ute a breach of the terr:s ;.ru cone.'; tions of this contract in like r1anner a.s if the purchaser failed to make a payment on interest or on principal as herEi,:.ucv�: Drovided. The seller shall also have the right to pay real e:suate taxes assessed against the premises commencing; with the year 1 �9 if, the event purchaser fails to pay the sane before they becon;e lelinquent nd the amount so paid shall constitute an additional lien a.g ai r:> t the :interest of the purchaser in the premises and payment thereof . -�,.y be i?'.ade in like manner as herein provided with reference to :insu e.nce. The purchaser agrees to maintain the buildings and it pi ~ove:;:ci;.ts nolr on the premises and being there at the time possession is taken in as good condition as they are at the tine rmsession is reasonable wear and tear accepted, If at any time before delivery of the deed tr)purchaser the premises hereinabove, or any portion thereof, shall be taken through condei- Mation proceedings or by right of imminent domain, the purchaser shall have the right to pay the balance then due upon said purchase price for the entire tr <_:ct of real estate hereinabove described and being sold under this e;o �Lr °a ct with interest to date of payment and in that event the deed held in escrow, together with the abstract and insurance policies shall be delivered to the purchaser;in that event,also, the sole right to negotiate for the sale of the prey, ises to be conder:,ned or tai1-en by imminent domain shall vest in the purchaser and likewise the purchaser shall have the sole right and obligation to contest any award that r._allr be rude as a part of such exercise of right of imminent domain. If purchaser does not exercise his right to pay the balance of the purchase price of the premises in the event of condeiination proceedings -2-