7.3. SR 02-17-2015 - Laserfiche WebLink

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(iii) The following liens or encumbrances: 4 2 ♦ ; and (b) Deliver to Purchasers the abstract of title to the Property or, if the title is registered, the owner's duplicate certificate of title. PURCHASE PRICE. Purchasers shall pay to Seller, at their cLirert•inn the sum of Thirty One Thousand Nine Hundred & NoZJDOJs ($ 1, as and for the purchase price for the Property, payable as follows: $9,793.28 paid down receipt of Which is hereby acknowledged. Balance of $22,107.82 to be paid as follwas $300.00 or more on or before June 1, 1986 and $300.00 or more on or before the first day of each and every month thereafter until April 1, 1987 when balance including interest of 10% per annum shall become due and payable in full. Interest to be first deducted from each payment and balance to apply on the principal. 9. PREPAYMENT. Unless otherwise provided in this contract, Purchasers shall have the right to fully or partially prepay this contract at any time without penalty. Any partial prepayment shall he applied first to payment of amounts then dve under this contract, including unpaid accrued interest, and the balance shall he applied to the principal installments to be paid in the inverse order of their maturity. Partial prepayment shall not postpone the due date of the installments to be paid pursuant to this contract or change the amount of such installments. 6. REAL ESTATE TAXES AND A9SESSMENTS. Purchasers shall pay, before penalty accrues, all real estate taxes and installments of special assessments assessed against the Property which are due and payable in the year 19-&L and in all subsequent years. Real estate taxes and installments of special assessments which are due and payable in the year in which this contract is dated shall be paid as follows: Seller warrants thatthe real estate taxes and installments ofspecial assessments which were dueand payable in the ,years preceding the year in which this contract is dated are paid in Cull. 7. PROPERTY INSURANCE. (a) INSURED RISKS AND AMOUNT. Purchasers shall keep all building's, improvements and fixtures now or later located nn or a part of the Property insured against loss by fire, extended coverage perils, vandalism, maliciops mischief and, if applicahle. steaim hailer explosion Fur cut least the amount of null InauralF Is ]� value If any of the buildings, improvements or fixtures are located in as federall y designated flood prone area, and if flood insurance is available for that area. Purchasers shall pros ure and nun intain flood insurance in amounts reasonably satisfactory to Seller. (b) OTHER TERMS. The insurance policy shall contain a loss payable clause in t:n ur of Seller which provides that Seller's right to recover under the insurance shall not he impaired by any acts or omissions of Purchaser~ or Seller, and that Seller shall otherwise be afforded all rights and privileges customarily provided a mortgagee under the so- called standard mortgage cla wNe. (c) NOTICE OF DAMAGE.. In the event of damage to the. Property by fire or other casualty, Purchasers shall promptly give notice of such damage to Seller and the insurance company. t3. DAMAGE TO THE PROPERTY. (a) APPLICATION OF INSURANCE PROCEEDS. IF the Property is chuuaged by iirr ny other casualty, the insurance proceeds paid on account of surh damage shall heapplied €1r payment of the amounts payable by Purchasers under this contract. even if sur.h :amount., are not then due to he paid. unless Purchasers make it permittsd elec'tiun descr'ihed in the. next paragraph. Such ;rm<lunf- <:h;lll bo I'ir�I i%J1pli(-d III II11 ).11111 ikCl'YLI',1 I,I l'r I :1111111 5I 1 lb•' ]1l HiiIIInH'nl I he ;I;lid n> 111'1•\ 1111.1! i e!IT!% .; 11: I I ...