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201607376
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Last modified
7/3/2017 5:40:54 PM
Creation date
11/3/2016 2:14:26 PM
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DEEDS
Inst Number
201607376
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the covenants or conditions of this Contract on its part to be performed, or if a receiver is <br />appointed for Buyer (Buyer is prohibited from assigning its interest in the Property for benefit of <br />creditors due to bankruptcy or otherwise), or should any action or proceeding be filed in any <br />court to enforce any lien on or claim against the Property seeking to reach the interest of Buyer, <br />then: <br />A . Seller shall be released from all obligations in law or equity to convey the Property to Buyer. <br />B .Buyer agrees to forfeit all rights to the Property, improvements made to property, fixtures <br />added to the Property, including, but not limited to, lighting, carpet, ceiling fans, etc., any monies <br />paid via either down payment or monthly payments, and any rights to possession commencing <br />after being in default for a period of2O days. <br />C .Seller shall have a right to retake possession of the Property after Buyer has been in default <br />for a period of 20 days. <br />D .In lieu of the foregoing, Seller, at its option, may declare by notice to Buyer, the entire unpaid <br />balance of the purchase price specified in this Contract to be due and payable, and may take <br />appropriate action, in law or in equity, to proceed to enforce payment thereof. <br />E .Any rights, powers, or remedies, special, optional, or otherwise, given or reserved to Seller by <br />this Paragraph shall not be construed to deprive Seller of any rights, powers, or remedies <br />otherwise provided by law or equity. <br />F .Any and all legal fees incurred as a result of default of this Contract by Buyer shall become <br />due and payable from Buyer. <br />14. MAINTENANCE OF PROPERTY <br />Buyer agrees to maintain the Property at all times in a state of good repair and condition, and <br />will not do or permit to be done anything to the Property that will in any way impair or weaken <br />the security of Seller's title. At such time as Seller inspects the Property and finds that repairs <br />are necessary, Seller shall request that these repairs be made within seven (7) days at Buyer's <br />expense. In case of the refusal, neglect, or inability of Buyer to repair and maintain the Property, <br />Seller may, at Seller's option, make such repairs or cause same to be made, and advance money <br />in that regard, which money advanced or costs of repairs shall be the obligation of Buyer and <br />shall be secured by this Contract. <br />15. RETURN OF PROPERTY <br />In the event this Contract is terminated and Buyer is required to return the Property to Seller as <br />may be required by the terms of this Contract, Buyer agrees to return the Property to Seller in <br />substantially the same condition as it now exists, ordinary wear and tear excepted. Seller reserves <br />the right to inspect the Property at any time by giving Buyer reasonable notice. <br />16. RECORDING <br />As soon as practicable after the Effective Date, Seller shall cause a copy of this Contract to be <br />recorded in the appropriate office of the county in which the Property is located. Seller shall <br />provide Buyer with evidence of such recording. <br />17. ENCUMBRANCES <br />The Property is presently subject to a mortgage. Seller shall not place any additional mortgage on <br />the Property without first obtaining the written permission of Buyer. In the event Seller should <br />become delinquent in payments on the mortgage, Buyer may pay the same and credit said <br />payment to the Contract price. <br />18. ALTERATIONS TO PROPERTY <br />201607376 <br />Buyer shall not construct any additional buildings or make any structural change to the Property <br />without first obtaining written approval from Seller. If written approval is given to construct or <br />
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