|
���' ��f7��1 ??W,.. .. . ii- � �,��.�]� - ny�
<br /> . . . - �. �.�. .
<br /> , ,'M i .
<br /> ' - . - ,� � . �� " y • ... . � � ' i S .. �/,+- 4 d':i'.'�Sti��'�u l�r'��'� •t . . .
<br /> . • ` . „ . . ., a , •i . . �...�j:�� i
<br /> ., , i <� � . " • . . . . ' . , _ .r�=-
<br /> ! , � ' - . .. „ .. . . . ' .r. ngs
<br /> , ,
<br /> ' TF
<br /> .. , ... . Q�'-� .�a�a�s ' ,
<br /> �.� �l�.reote�I he sha11 makb, �f, when and �ie they aiey proare, to�be �
<br /> �� neoeseary or dee3xable, and suoh fund ehall., aut of later pey�snta, " �
<br /> be repl&ae8 or ad8ed to as mey be raqu3rad. The Esorow Agbnt gha11 ."
<br /> further deduot fxom the� first paymea�t by BUYERS a� �l�20,000.00, an.
<br /> amourit whioh the Eaarow Agent deeras ��u.ffioient to gay tha nex� gay-
<br /> meat Af pri.naipal and� interes�t due by BUYERS on t�air Federal. Zend
<br /> Hank Pirst mortgage yoh3.ch w�.11 beQOma due in Deoeaibex of 1}73, a�'
<br /> if �he F`ederal Zand Bez�Ic authorizea� ahall at ona� pxepay auah pey-
<br /> naen�t`for BUYERS, and 3.f not prepa id sha11 use �uch fwnd so he�.d to � . '
<br /> make :euch. payment to the Faderal Zend BanIG,
<br /> (e) Any payments by Esorow Agent for real setete taxea.,
<br /> for ineuranae pre�3,uma� or for any other pu�cpoae, where �.t ie an
<br /> . adveuoe from SELI.E�i3' funds to pay an obligetion of the BUYERS
<br /> whiah BUYERS havo defeulted on, shall baar intere�t et the higheet
<br /> legal rate, se a aeparste and independent obligation o�' BUYE�S �ro�
<br /> the date of the payment or adnanaement by the Eeorow A�ent ta tYie '
<br /> � date of repayment roy t�uY�� to -the Esorow Agarsti of tihc� u�ut��� ea ar�- -
<br /> .zgP r-.: i .
<br /> <_
<br /> vanced and used.
<br /> ;��s (f) A7.1 �payments by BUYERS to 3EI�LERS, made through �he
<br /> ., �t ��„�.
<br /> '' �`��''�'"�� "' Esarow Agent, shall be expended by the Esorow Agent ia the follovr-
<br /> � �;r���„ .
<br /> i• ��� ing order: �(1) to apply on the obligetion of the HUYERS to� the
<br /> �r•��*�'° .-
<br /> '���� Federal I,and Bank; (2) to apply ox� all edvanaes by Esorow Agent
<br /> �t.Mr:r��+�'Re!:.v �, •
<br /> �:�`,:�.{�.'',='�`. �rom SELLER:i t funds for the payment of taxes, insuranae premiume, .
<br /> :,,�;��,� _,����� materials or l.abor, for whioh a meohania's lien might be filed
<br /> �'�`'�"`"`"""�''-f"y`'R� against the property, �nd any and every other advancement by Esorow
<br /> w�LS.Yf!vnyN�••�1�`.
<br /> ��
<br /> � S � A�ent from SELLERS ' funds which should have been made by BUYERS ;
<br /> :r*�,�.•,::..::. �.�,�.
<br /> :��� .:: ._.,. . .
<br /> ::� .;;1 (3) next, the payuients sha11 be applied upon interest due an thia
<br /> ;,��•=v-�� � " contrect; (4) next, the payments shall be appl3.ed upon any expensea ��;
<br /> �° . � of the Escrow Agent, including SELLERS obligat3on for his pro rata �:'=-
<br /> , ,,
<br /> :�'�` �' share of the �ervices of the Escrow Agent; (5) next, an� balanae -
<br /> � �'� �.. � sha11 be applied iapon the grincipal of the mortgage; and, (6) last-
<br /> �-"'` � � ly, after prova.sinn for a reasonable interest beering reserve, shall ^`�
<br /> be paid to Dorothy A. Ueliling, or her designee. ` {
<br /> 4• . ' � {g) After the payaent 3n fu11 of alI obl�.gations of
<br /> � ' ' SELS,ERS to tha Federel Land B�nk on ita �said first mort�age, pay-
<br /> � , ments by BiJYERS shall still continue to be made by BUYERS to SEI,LERS
<br /> � through the Escrow Agent so that the proper steps may be taken by
<br /> `� , .. Esorow A�ent ta m�ke certein thHt all �bligati.ons nf the AUYERS
<br /> n , •�.
<br /> s -, t;nder this contract shall be prnmptly paid wnen ciue. p{1: u .
<br /> � � ,. Section 'i. Omtions far Prena.yments.� /'' �� �
<br /> ., ONE T���,�TfiOUSAND OR
<br /> . (a) BUYERS are hereby expre�sl�authorized to meke one (
<br /> � � additional annua]. prinQipel prepayment of THREE THOUSAND AND NO/100 i
<br /> � DOLI,ARS ($3,0OO.OU), ea�h year durin� the oxistenae of this aontrc�at, !
<br /> • � �
<br /> . � � � .� -3- `
<br /> , �
<br />
|