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7J<?<7 IMPROVEMENT'CONTRACT.—(Minnesota.) .in the Tl}is Agreement., 1^^ J^yy^^/^z...., ^^... .......ss... , bet.ee,, SOUTH MINNESOTA-LAND. CO, LU^~==—z: of the firstVart, arid T_^?_^-lrti___ra_^_^^^ of the second [iart, WITNESSETH-! That in consideration of Ihe stipulations herein contained^ ancfthe payments to be made as is herein specified, the first parly hereby agrees to sell to the second p_rty-ihe - -—»—— „_,....--_ _/.of Section A.AZ.. ...in.Township y.<ZZ. y' .. 'North, of Range.'._S__t..< West of ihe fiflh Principal Meridian, containing, according to the United States survey, <Z3^h*^A^AtZyA-<A.6'.y..^777^: acres, be the same more or less, for Ilie sum of....M__^__<r7rr^^___^: ^yAt^*^z^t^c-^y^L<<<^yZy.(. A&~&y)- — ."_""_— on which said second parly has paid the sum of... CCAcA<~^^: -~?z__rL____—i_^<^_^-e_--«s-C__J / y 0—&y. rrr^rr on account of principal. And the said second party, in consideration of the premises, hereby agrees to pay to said first party, at the office of Close Bros. & Co.. at Chicago, 111., the following sums of principal and interest, at the several times named below: Dollars, Dollars, But said second party shall have the right to make payments on account of principal, in sums of one hundred dollars, or any multiple i hereof, with interest accrued on same at eight per cent, to date of payment, which said payment of principal and interest shall be received by said first party at any time. U is mutually understood and agreed tb_it the above premises are VMfl to^said second party for improvement and cultivation, and said second party further agrees and obligates.:"^__*-rw<-_^.ir-<J^ V AytfAxyC^. heirs and assigns, to cultivate and improve-aid land, making thereon, to the satisfaction of said Close Bros: .$_ Co/^jiep_Km_i(^and valuable improvements, as follows : .-t^r*j3. liat all imjfFovesrfents placed upon said premises shall remain fliereoifKand shall not be removed or destroyed until final payment for said land. And furiher. that said second party will insure all buildings erectewir to be erected upon sail) land, in a good, responsible insurance partyvan.l will assign or cause \o be assigned to said first party said policy of insurance, with the ;.%__K_-T ,,,- assigns. And 5_Js expressly understood and agreed that in ease of loss the amount received from such insurance company or companies shall be used, if_§aid second party so elects, for the purpose of replacing buildings destroyed; otherwise said fust party shall apply the amount of insurano^J'eceived as part payment of the purchase money for the above described find. Said second party further agrees that he will punctuallvypaw said sums of money specified, as each of the same becomes due, and that he will regularly and seasonably pay all such taxes -and assessmeiftsjas may be lawfully imposed upon said premises. 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_jn)surance, and the amount or amounts so paid shall be immediately due from the second party as part of the purchase money of said land, anVl shall draw interest at the rate of eight per cent, per annum until paid; but the payment of any tax or insurance premium or premiums bywjie first party shall not In- a waiver of the forfeiture or the right to declare or enforce the forfeiture for the non-payment by said second party of such taxes, assessments, insurance premium or premiums, or for any other default. JZ' • And in case the said second parly,..-__r_^c_i'... legal representatives Jjf.-..Z&Xi&&...assigns, shall pay the several sums of money aforesaid _"u- ...... .......v.., ...... ....... .,___-.... _,...._, .... company, to the satisfaction of said fiistparti loss, if any, payable to said first pam.£___x strictly an_ <t parljr the sun literally perform all and singular the agreements anil .stipulations make lo ihe said second party, ^___^.—heirs or assigns (upon mder ol this contract), a warranty deed, conveying said premises in nee as may be placed thereon by the location of public highway-.' f this contract, or that may attach thereto by reason of some act punctually, and at the several times above limited, and s})i aforesaid, according to llieir true tenor and intent, then/the request at the office of (Ilose Bros.... Co., at Chicago, II nple, excepting, however, from covenants of warrarh railroads, or other public use, or from taxes becoming dm; or thing done or suffered by the parly of ihe second part. But in case the second party shall fail to make the\iay>it<Ms afdresaid, or any of them, punctually, and upon the strict terms and times above limited, and likewise to perform and complete^S^mileapft of the agreements and stipulations aforesaid, strictly and literally, without any failure or default, the time of payment being the e-SwSfll" oT 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 ihe second parly, or derived under I his contract, shall utterly cease and determine, and the premises hereby contracted shall revert to and revest in said first parly (without any declaration of forfeiture or act of re-entry, or without any other act by said first party to be performed, and without any right of said 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 shall commence any action or legal proceedings, either to enforce the forfeiture or foreclose the interest of the party of the second part, or collect the amount due thereon, or to obtain possession of said premises, or restrain the removal of any improvements therefrom, the said party of the second part hereby agivcs ty pay a reasonable attorney's fee for the commencement or prosecution of such action, and the same shall be assessed and taxed by the court] and ihe party of the first part shall have judgment therefor, lo be paid or collected the same as the purchase price of the land. ' And it is furiher stipultited that no assignment of the premises shall be valid unless the same shall be endorsed hereon, or permanently attached hereto, and countekigncd by the first party (for which purpose' this contract must be sent U> the office of Close Bros. & Co., Chicago, Illinois), and that m> agreements or conditions or relations between the second party and ...^/ZriZl assigns, or any other person acquiring title,or interest from or through^^rfrf«?fr?-, shall preclude the first party from the right to convey the premises to said second party or-^_rZ<__<_--..assigns, or the surrender of ibis agreement and the payment of the unpaid portion of the purchase money which may be due to the first party. Said sttonchparty wdll be entitled to a warranty deed when one-third of the purchase money is paid, and note-, secured by mortgage bearing interest ;.t eigiit per cent, per annum, payable semi-annually! are given for the balance; said mortgage to be a first lien on the premises. In wi i'nkss WHEREpl uion b\ second p:i ^<_>_t/tV'2 <y-£JL- She parties hereto have hereunto set*their hands the day and year first above written. Lnasedb,; SOUTH MINNESOTA LAND CO., Ld. 7?yy/^--_*-_-__fc/ hUlsXhCsU- ' 2,. _ ■_ ____-- —-. /.— A_T©BI. v witnessed by: 'W^^ /f? ORNEY IN FACT. %yri <z±^/?^
|Title||Page One Front|
Tl}is Agreement., 1^^ J^yy^^/^z...., ^^...
.......ss... , bet.ee,, SOUTH MINNESOTA-LAND. CO, LU^~==—z:
of the firstVart, arid T_^?_^-lrti___ra_^_^^^
of the second [iart, WITNESSETH-! That in consideration of Ihe stipulations herein contained^ ancfthe payments to be made as is herein
specified, the first parly hereby agrees to sell to the second p_rty-ihe - -—»—— „_,....--_
_/.of Section A.AZ.. ...in.Township y.|