|
r . �, ,�,� ,;.
<br />� . 'R 1 `� �i..+�. _ _ _ _ _ _
<br /> .. ' ti • . . .i � .:1.
<br /> . ., b• - - ' . .
<br /> • - � �'� .. i� �7
<br /> . , t . • : ' .. -
<br /> ������
<br /> �ud othor �mpxovomon�� c�n tho plaoe in ed good o� et�sr oond3.tion ��
<br /> than they are at the pxer�erit t�.ms�; or in l�.eu thereaf, they mey
<br /> subatitute thexefor �ther improvetuonta on the property of aompax- ,
<br /> able or �reater valuo. The DUYERS axe expreaely authorized, at
<br /> their own and sule expeiz�a, to make eny ohangee, altera t:Lons or
<br /> improvementa in the pr.operty, ar levvl the aame, or dril7. add3-
<br /> tional irrigation well�, or take eny other eoti4n� for the i.mprove-
<br /> ment of the prernises, without securing pri.or ap�rova7. from the
<br /> SEZLERS; expresaly� provided that such eotion takon ahall substanti-
<br /> a11y and unquestronably result in the i�tprovemont in tY:e velue of �
<br /> the premises, axid no aa�ion s��all be taken, wi.thout exprees approv-
<br /> `�"`�" al in wxiting from SELLERS, that tuight 1n any way ceuse a deteri9
<br /> •:F-•�.a: oration or lessenin� of the v�lue of the property until the same � .
<br /> .;�� :: has been paid for 3n fu].1.
<br /> �r�'�r ' .
<br /> ' '�'�`�� 'fi�;� SeQtion;,�„� Risk of 'Lnas. Risk of loss or damage to the
<br /> �.�;�` ,.5z;r�.,. _
<br /> .. �i•y:•�a :1-:�..'Y' .. , •
<br /> ":J'`�'` "' ' '' property a'r any uaxt thervof, or any fixtures or improvementa . ,
<br /> ,(�.�1r..;r.'.�. .:1;:..,
<br /> � ,;..tr7;�-"�,��. Iocated th�revn, i�i= aily 3estruetion ar dctcricr3t3an tY:s:stQ, �^Q�
<br /> ,,.�,,:`"�;,�:'���; �,},
<br /> �'`�,��1�5.�:.%�:r"�rf;:,.'.�'� aulting from acciaent, or any other hezard, or by aat of war, or -
<br /> �r��,•+r:•�.:�'�"s`9;�;'. '`,'
<br /> �;�{i;(,..,,;,t;;;;:r •.r. :
<br /> �..r��:�,�=?:.:>; ��'L,,.�. by sat of God, io aesumed by BUYERS as of the date of this Agree- ;
<br /> fi'��:r�;�:`;� ': :�f• ment, and BUYERS agree to fu11y jndemnify the BELI,ERS for any loas �
<br /> �'••:�`.",,�,.,. . , ..
<br /> ,;.;,,,;.�• ,,,,�` ' Of any kind or character whatsoever, wYiiah they may sustein, or
<br /> J"�'�"""" �' "�`� have imposed upon them, by reeson of their remaining ir�terest i.n.
<br /> �,.�,.,-,.�.., .,,:. �
<br /> -���;� :� •� � - 'this land, pend ing the completion of the terms of this contraot.
<br /> ;;, ..
<br /> :�;�``:`', .� ARTICLE V, �
<br /> ��r�h•��,. ... `;
<br /> s.•t�.::,�..���a.z:..,
<br /> :�,.:�...��:....,,:.ti'
<br /> ..rti�tJ+!4:�:`. �„F� RE�'IPIANCING
<br /> ,;a,- . .Y1 �� �
<br /> �:,,' '
<br /> . � Provided the aotion may be taken without any tax effect
<br /> on the parties, at the option of either the BUYERS or SELLERS� ' ..
<br /> ��,�y_;_� when f ifty per oent (50 a) of the princ ipal due on this oontra ot '•-:h
<br /> shall have been paid, acoordin� to its terms, the balanoe due on
<br /> ���'��,�:. .- thie A�reement may be refinanced, and the deed ma,y be given to '-he ��
<br /> �, BUYERS, who shall simultaneousl3• gi.ve a note, seaured by a f�.ret
<br /> : . � mortgage li.en againet tlie property, to SEI,LERS, the eame being on
<br /> the same identical terras as are provided herein, and wh3.ch shall
<br /> .; . bind reapecti.vely the BUYERS and the �ELLERS of this pr�perty.
<br /> � . .�
<br /> ' ��: ART I C.LE VI.
<br /> SELLERS' REMEDIES AND BUYERS' DEFAiTI,T
<br /> � " �� Section 1. Defaults and Remedies.
<br /> . (a ) Inasmuch as t�iis entire Agroement is premi.sed upnn
<br /> u'_ ,° psS�ner.ts by HiJYERa to tlie Escrow a�ent: for SELLERS, and the deduc- ;,
<br /> tiuii by L}tv E;::;ruw A�;uiit� f.r•n�n �=ur,�i poymeiiLcs fc�r �the purpoae �f pHy- ��'���
<br /> �:,,,..
<br /> Pi�•,(�
<br /> . ing orli�ations of the SE.LLERy �s hereto�ore set forth, therefore, ����
<br /> it ie pru�ridod th:at if .a pa3rn��nt on tho first mor.t�age o.f the �ederal � .
<br /> i,end Ban� is defaultou f�r th� reason that the BUYE�S have first
<br /> . ` iy
<br /> „ ^?"�
<br /> f�
<br />
|