82002217 - Laserfiche WebLink

Browse

~~ --~- ii t~ 221 " 4- Insurance ',s of Che,date of possession herein, lsuyar agrees to insure and keep insured the improvements on the~~real estate in a minimum of Ten ",housand Two Itiundred ($1C,'?OQ.00) D611ars?aganst fire, wind, storm, hail, and extended coverage payable to Seller and-Buyer as their interests may appear. X11 insurance payments shall be made by Buyer directl}~ ar.3 such insurance shall Ue obtained from a compan~~ acceptable to Seller here.- ~.inder snd Buyer shall furnish :.elles w£th,paid rece£pts showing proof of coverage at least 14 days prior to the expiration-date. In the event that Buyer fails to make the payments as set forth previously'ther. Seller may pay such amounts as they shall becozae due and advance the same ar behalf of Buyer. In the e~rent of such advance, a l such monies shall draw interest at the rate of 16'~ nor annum until paid. Seller agrees that-in the evert of loss,.:prnceeds to be dv£ded'between Buyer and Seller as then Xzspective interests appear. This paragraph shall act as an assignment of same upon presentatian to,an insurer of; said premises. 5.- Possession. It-is agreed that Buyer shall have possession. of the real estate on *iay 28, 1982, the date of closing, and Buyer shall be entitled. to retain possession so long as they comp y with the terms cf this Agreement. 6. Fiazranty Deed - Escrcra. Seller and Buyer agree that '1'ewn'° ~ shall serve as escrow agent under this Agreement upon the ~~ fol~ wing terms and conditions: ~~ ~ a. Seiler agrees to execute a Warranty Deed conveying ics interest fa and to the above described real estate 'to Buyer free and clear of alI'lieas and encumbraaces except easements and restrictions of record,, if any,. `and to_deiiver said_'deed to the escrow agent and to direct said escrav'agent [a deliver said Warranty peed to Buyer upon performance of the terms of th£s :lgree- menu by tha Buyer. b. Seller agrees that the escrow agent shall'deliver the Warranty: Deed to Buyer at such time as the outstand£ng balance due hereunder has'been paid in :full by Buyer to Seller. c. Seller and Buyer agree that all stag documentary stamps:.; assessed in connection xith the filing of the der^d shall'be paid . by;Seller, Fling feea for recordfng of the ::deed shall be paid by .Buyer. .:Buyer will be'given credit for the'dacumentary scamp at the tfine of closing. 7. Seller's Remacilaa oa Bowers'' Default. In-the 'event Buyer- shall default under the terms and conditiona of this Agreement, Seller .shall have the fallowing remedfes: a, Default as used` £n this Agrec~nent shall mean the breach by the Buyer of any of the terms:, coy^enants and conditions of this Agreement imposed upon it. Default shall not occur until 3b days. have expired from the date upon which Buyer should have performed' and they in<that event, the Seller sha12 give. he Buyer written notice of scccb defaulc, and if the same sbaiT not have been remedied witiain 15 days after the date of such written notiee_, then the Seller may at its option declare all amounta due and owing by virxtae of this :agreement, together with any advancements by ;Seller hereunder ±mmediately due and payable. In that event, Seller or its successor in interest may proceed-ta €orQClose $uyer aff all choir interests, righc and title in and to`the abocre described,real-..estate or at its option elect to request specifi_ performance or exercise any"other remedy at law of equitywhlch mar be .applicable to this Agreement. i:poc default, the Seller shall be entitled to re-enter and take possession of the premises. }~. do art of the Seller, except for the accept<cnca cf pay rents I of principal. aad i~-,forest due anet owing ;in der t}tis Agreement. r.nail L...` operate as a waiver of the Seller's right to exarcisa atey=e~edy w2_