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81005123
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Last modified
1/14/2010 9:15:56 PM
Creation date
1/14/2010 9:15:49 PM
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DEEDS
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81005123
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<br />8 ~. --~) U 7 1 ? ~.~ <br />{t) Sellers agree that the Escrow Agent shall deliver the <br />4iarranty Deed to the Buyers at such time as the out- <br />standing balance due hereunder has been paid in full <br />by the Buyers to the Sellers, and Sellers so notify <br />the Estroa Agent. <br />{d) Sellers and Buyers agree that alt State Documentary Stamps <br />assessed in connection with the filing of the Deed shall <br />be paid by the Sellers and filing fees for recording the <br />Deed shall be paid by Buyers. Buyers wilt be gfven credit <br />for the documentary stamps at the time of closing. <br />8. Sellers' Remedies on Bu ers' Default. In the event Buyers <br />shawl default under t e terms an con t ons o this Agreement, the Sellers <br />shall have the following remedies: <br />{a) Default as used in this Agreement shall mean the breach <br />by the Buyers of any of the terms, covenants and conditions <br />of this Agreement imposed upon it. Default shad not <br />occur until thirty (30) days have.expired from the date <br />upon which the Buyers should have performed and then in <br />that event, the Sellers shall give the Buyers written notice <br />of such default and if the same shall not have been remedied <br />within fifteen (15) days after the date of such written <br />notice, then the Sellers may, at their option, declare all <br />amounts due and owing by virtue of this Rgreement, tooether <br />with any advancements made by the Sellers hereunder immediately <br />due-and payable.. In that event, the Sellers or its successor <br />in interest may proceed to foreclose the Buyers of all of <br />their right, title and interest in and to tfie above-described <br />real estate or at their option, elect to request specific <br />performance-or exercise any other remedy at taw or equity <br />which may be applicable to this Agreement. Upon default, <br />the Sellers shall be entitled to reenter and taY.e possession <br />of the premises. In the event of default, the Buyers <br />specifically agree to pay all reasonable attorney's fees <br />and costs which may have been incurred by the Sellers <br />occasioned by the default of the Buyers of the tenn-s, <br />covenants- and conditions of th15 Agreement imposed upon it. <br />(b) No wet of the Sellers, except far the acceptance of payments <br />of principal and interest due and owing under this Agreement, <br />shall operate as a waiver of the Sellers' rights to exercise <br />any remedy which it may have at law or equity f~sr the-same <br />or any subsequent default by the Buyers at any time thereafter. <br />9. Miscellaneous Provisions. <br />(a) Buyers shall keep the premises in good repair at all <br />times dur-ing the terms of this Agreement, and Buyers will <br />cause all bills for labor and materials in connection <br />with said premises, to be paid and will not suffer <br />mechanic's liens to be filed against the real estate. <br />Buyers shall not make any structural improvements without <br />the written consent of the Sellers. <br />(b) Risk of loss to the date of possession shall l~e LJ7nQ <br />by the Sellers, and thereafter shall be borne by Buyers. <br />(c) 4h--til delivery of possession, the Sellers agree to <br />maintain the improvements located upon the real estate in <br />reasonable condition and any work or services. rendered to <br />keep the ta~ravements in such condition shall be at the <br />Sellers' expense. <br />-~ <br />
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