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X/cJ? / IMPROVEMENT CONTRACT.—(Minnesota.) \y ■til is Agreement:, made ,^.yL betwecn.SOUm.MINNE^TA.liM.CO:..^ and .AZkZ^^£^^^f^i^<^AZ.^A/lAzZ^\ .day of. in the .®g* >f the second part, WITNESSETH: That in consideration of the stipulations herein contained, and the payments to be made specified, the fust party hereby agrees to sell to the seepjid party tl)e.>_^_y^__^-..'.<i_^-S,^____-_ as is herein ■ . —_——-r_ ^r__TTrr...of Section.___^__.._ ; in Township / 4? <-AA North,.of Range.___7___. . \\Vm of the fifth Principal Meridian, containing, according to the United States survey, <&-^-*zAAALf , j^______?: . teres, lie the same more or less, for the sum of^_- hi which said second parly has paid the sum of hi account of principal. And the said second party, in consideration of the premises, hereby agrees to pay to said first party, at the offipe of Close Bros: & ( ^Dollars, Dollars, at Chicago, 111., the following sums of principal and interest, at the several times named bek_w : rJ^V^r^^.^.^.^.. A^J\ But said second party shall have the right to make payments on account of principal, in sums of one hundred dollars, or any multiple thereof, with interest accrued on same at eight per cent, to date of payment, which said payment of principal and interest shall be recervetl by said fu'si party at any time. H is mutually understood and agreed tb^-t' the above premises are sgdrfto said second party For improvem'ent and cultivation, and sa nd party further agrees and "\>\v^^AA^^^z^*2^-AA-,- ■ r&^CA? .heirs and assigns, to cultivate and improve land, making thereon, to the satisfaction of said Close Bio/_y& Co., permanent and valuably improvements, a.' I'ullun.i - • II improvements placed upon said premises shall remain tin hall not he reiYioved or destroyed until final payment for said land. And further, that said second party will insure all buildings'erectf I upon said land, in a good, responsible insurance company, to the satisfaction of said first party, oast/will assign or cau_e to be assign.;! to said first patty said policy of insurance, with the loss, if any, payable to said first y.wixShA-i,. AZt*u or assigns. And it is expressly understood and agreed iliat in case of loss the amount ; I from such insurance company or companies shall be used, il - i party so elects, for the purpose ol replacing buildings destroyed; otherwise said first party shall apply the amount of insurance received as part payment of the purchase money for the above described land. Said second party further agrees that he will punctually pay' said sums of money specified, as each of the same becomes due, and that he will regularly and seasonably pay all such taxes and assessments as may lie lawfully imposed upo nises. If said party of the second part fails to pay the said taxes and assessments before the same become delinquent, or to procure insurance as above provided, the first party may pay such taxes and assessments and the premium for such insurance, and the amount or amounts so paid shall be immediately due from the second party as pari of the purchase money of said land, and shall draw interest at the rate of eight per cent, per annum until but the payment of any lax or insurance premium or premiums by the first parly shall not be a waiver of the forfeiture or the is declare or enforce the forfeiture for the non-wayment by said second party of suyn taxes, assessments', insurance premium or premiu v other default. Z^ i yA ' And in case the said second party,-^--___-V legal representatives or.-r3_s_jS__' assigns, shall pay the several sums of money a.fi ually, and at the several times above limited, and shall strictly and literally perform all and singular thg5_gi;eements and stipulations aforesaid, according to their true tenor and intent, then the first party will make to the said ty,?__«__i___._.heirs or assigns (upon it at the office of Close Bros. & < 'o., at Chicago, Illinois, and the surrender of this contract), a warranty deed, conveying -aid pren fee simple, excepting, however, from covenanls of warranty, such incumbrance as may lie placed thereon by the location of public highways, railroads, or other public use, or from taxes becoming due after the date of this contract, or that may attach thereto by re one act or thing done or suffered by the party of ihe second part. Bui in rase the second party shall fail to make the payments aforesaid, or any of them, punctually, and upon the strict terms and above limited, and likewise to perform and complete all and each of the agreemenLs and stipulations aforesaid, strictly and literally, without any failure or default, the time of payment being the essence of this contract, then the party of the first part shall have the right to declare this contract null and void, and all right and interest hereby created or then existing in favor of the second party, or derived under this contract, shall utterly cease and determine, and the premises hereby contracted shall revert to and revest in said first party (without any declaration of forfeiture or act of re-entry, or without any .other act by said hrst party to be performed, and without any light o second party of reclamation or compensation for moneys paid and improvements made), as absolutely, fully and perfectly as if this contract had never been made. And if, in case of default of any of the conditions or payments above mentioned, the party of the first part dial] commence any action or legal proceedings, either to enforce the forfeiture or foueclo.se the interest of the parly of ihe second part, or collect the amount due thereon, or to obtain possession of said premises, or restrain the removal ol any improvements therefrom, the said parly of I part hereby agrees to pay a re - nuii... i irli-iicl.t-iviid liy I I... ... .nrtj mil i lv p-irty of-i_h» first p.li-shall have illdgnirn I I hen-for, Ip lie rp,jd or collected the sajiu- as the pip'ch-1'' price of the land. And it is further stipulated that no assignment of the premises' shall be valid unless the same shall be endorsed hereon, or permai attached herein, and countersigned by the first parly (for which purpose this contract must be sentUf' the office of Close Bros. , Chicago, Illinois), and thai no agreements or dSmlitions or Relations between the second pari}' and ..i:3??__—<?. assigns, or any other pi on acquiring th$ or interest from or tluougli_-_£^_t_£-_? shall preclude the first party, from-the right to convey the premises to said party or .r-Sj__ic.....assigns, on the surrender of this agreement and the payment ol the unpaid portion of the purchase money which i due to the firsl party. Said second party will be entitled to a warranty deed when one-third of the purchase money is paid, and notes ■ by mortgage bearing interest at eight per cent, per annum, payable semi-annually, are given for the balance; said' mortgage to be a fir!. lien on the premises. I N WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year fust above written. I Kxfjetft ion J^fyJsecoirtOpartv witnessed WV: JAAOhTtTTAh
|Title||Page One Front|
is Agreement:, made ,^.yL
>f the second part, WITNESSETH: That in consideration of the stipulations herein contained, and the payments to be made
specified, the fust party hereby agrees to sell to the seepjid party tl)e.>_^_y^__^-..'.