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87100949
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Last modified
10/19/2011 2:11:54 AM
Creation date
3/27/2008 1:58:34 PM
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DEEDS
Inst Number
87100949
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withheld) and any attempted assignment or sale of this <br />contract . or mortgaging of the property without prior written, <br />consent of Buyer shall be void ab initio. Seller's consent <br />to an assignment,.mortgage or sale hereunder shall not be <br />deemed to be a.waiver of this provision as to any other <br />assignment, mortgage or sale.. ;finless otherwise aareed, all - <br />proceeds from a partial sale of the property or the proceeds <br />from condemnation of all or apart of the property, shall be' <br />applied to the balance due on the contract, but shall not <br />effect the amount or due date of the periodic payments,: <br />12. From and after the date upon which possession is <br />delivered to Buyer pursuant to parc,•araph 3 herein, Buyer <br />shall be entitled.to possession of the property so long as <br />no uncured default by Buyer has occurred hereunder; )iowever,' <br />if Buyer fails, neglects or refuses 'to pay any mount due <br />under .the terror of this contract, fails to may said taxes or <br />assessments before the s&me become delinquent, fails to keep <br />floe aaprovements on said property insured as above provided,: <br />or falls •-O perform any of the ogler terms, covenants, and <br />conditions or agreements of this contract within thirty (30): <br />days after receipt - of - nnotice from Seller of such de €ault, or <br />attempts to assign, to convey any pare of -tile premises or <br />:interest in this agreement wit-lout prior *written consent of <br />' feller- exceptt,.for " conveyance -made under threat of exercise - <br />- <br />Lif.Easineiit domain, ;then the right of.' Buyer - .and .: -itS tenants <br />- <br />to possess the property shall immediately cease and Seller, <br />,tali exercise one or more of ..the..followine optiOnS� <br />" (a) Receive - interest upon the principal balance <br />and all accrued interest-at the rate of sixteen percent <br />- <br />t1E') per annum from the date of t1he installment or the date <br />of other default stated above to the date of pale .t. <br />(b)- ` Declare the entire principal, balance immediately <br />due and saayable, whereupon the principal balance and all <br />F <br />accrued interest shall wear .interest at the rate of sixteen <br />-percent (1610 per annum from the .due date of the installment <br />` <br />upon Mich the "default occurred or the crate of such other <br />` <br />< 3efault in perfcar irc:e of covenant hereunder until _maid: <br />?remedy the default and charge Buyer the <br />i thereof ¢ y <br />�i.SSYr:. e�iiiti1 interest at ts5` -ate33 '�,Z3[teerceY <br />i163) per annum froze the slate teller relies the default <br />' <br />vh ch amount with interest shall become a debt due from <br />Bier to 'Seller payable the next succeeding installment <br />date • . <br />(4) Seek specific performance of this agreement; <br />(e), Sue to recbn.-er any amounts due from Buyer to <br />_ <br />Seller hereunder, and the amount of anv dar-acns sustained by <br />Seller by reason of Buyer's default, <br />(f) Foreclose t..se interest. of Buyer hereunder. <br />{cO Seek any other remedy to which Seller micht <br />be entitled at law or equity. <br />Failure, to exercise any option upon any one (1) default <br />- <br />- - -•- bereunder` shall- not waive- -:tine right to ' exercise ..the t33at.ik2n1 <br />upon a subsequent default. <br />
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