|
• t
<br /> � 1
<br /> � .
<br /> �
<br /> 1
<br /> 4
<br /> CONTRAC7 fOR DEED ADDENDUM Minnesota Uniform Conveyancing Blanks �
<br /> � Form 30.2.1(2006) �
<br /> E
<br /> THIS CONTRACT FOR DEED ADDENDUM(lhis uAddendum")Is attached to and made a pa�t of that certafn Contract for Deed dated ;
<br /> July� ,2015 between Gregory C.Whfte and Lynn M.Whiie aiso known as I
<br /> (monU✓dey/}'ear) Onseitname ofSe!ler) k
<br /> Lynn H.White,husband and w(fe ,as("Seller"),
<br /> and Todd G.Sylvester and Lisa M.Sylvester ,as("Purchase�"). ;
<br /> (lnseR name a/Rrchaser) {
<br /> i
<br /> The terms and conditions contalned in the Addendum shall supersede any contlicting provisions contalned in thls Contract, Unless defined in �
<br /> thls Addendum,all capitalized terms have the same meaning es in the Coniract. Only those provislons checked In the"Yes"column,below,
<br /> shall be included and be part of this Addendum, �
<br /> Yes No `
<br /> E
<br /> ■ ❑ A. Late Payment Fee, If any payment is not received by Seller w(thin flfteen(15)days of the date when due,Purchaser e
<br /> shall additionally pay to Seller,to ihe extent allowed by law,a late charge of four percent(4%)of the amount of the del)nquent
<br /> payment,
<br /> ■ ❑ B. Transfer Restrictians. Purchaser may not sell,assign,or otherwise transfer Purchasers interest in this Contract,or the �
<br /> Property,or any part thereof,or if Purchaser is an entity,the controlling interest in Purchaser may not be Iransferred wilhout
<br /> the written consent of Seller,whlch consent; �
<br /> (checxonyone nu�l
<br /> ■ shall be granted or withheld in the sole discreQon of Seller, t
<br /> ❑ shall not be unreasonably withheld,or delayed by Seller.
<br /> j ❑ ■ C. Escrows. In Addition to tha monihly payments of princlpal and interest,Purchaser shall deposit with Seller,with each i
<br /> payment,an amount representfng one-twelfth(1112)of the annual real estate taxes,installments of speclal assessments,and
<br /> Insurance premiums with respect to the Property(or such other amount as Seller is required to deposlt under any underlying
<br /> encumbrance on the Property). The amount of such taxes,speciai assessments,and fnsurance premiums,when unknown, �
<br /> � shall be estimated by Seller, Such deposit shall be used by Seller to pay reai estate taxes,instaliments of special
<br /> assessments,and insurance premiums wilh respect to the Property when due, II Seller fails to do s�,Purchaser may,at ,
<br /> Purchasers option,pay any such delinquent amounts and deduct the amounts so paid from payments next coming due under
<br /> this Contract, If the balance deposited with Seller is insufficient to pay such real estate taxes,special assessments and �
<br /> insurance premiums when due,Purchaser shall pay the deficiency to Seller upon written demand.
<br /> ■ ❑ D. Property Improvements. Except for work reasonably necessary to permit Purchaser to comply with Purchasers � �
<br /> obligations under this Contract,Purchaser shall not hire or perform any repairs or improvements to or replacemenis of the
<br /> Property having an aggregate cost 1n excess of Ftve Thousand and No/100
<br /> Dollars($ 5,000.00 )without securing the prior written consent of the
<br /> Seller. Purchaser will not cause or permit any mechanics'liens io be recordad agalnst the Property, Purchaser agrees to
<br /> defend,Indemnify,and hold Seller harmless from any loss,damage,or expense Incurred by Sefler with respect to any party j
<br /> asseriing a mechanics'lien clafm,it being understood and agreed that this undertaking shall survive cancellation of ihis `
<br /> Contract or the de�ivery of a deed pursuant to the terms hereof.
<br /> ■ ❑ E. Hazardous Substances. Purchaser shall not bring,store,generate,or treat hazardous wastes or substances or
<br /> petroleum products upon the Property,except for smail quantities which are stored and used in compllance with applicable
<br /> � law. Purchaser hereby agrees to indemnity,defend and hold Seller harmless from any and all claims,demands,a�tions,
<br /> causes of actlon,liabllitfes or rights which may be asserted against Seller wilh respect to such substances,or products,it being
<br /> underslood and agreed that this obligatlon will survive the cancellation of this Contract or the delivery of a deed pursuant to the
<br /> terms hereof, '
<br /> Note; This document must be attached to a contract for deed and cannot be independently recorded.
<br /> Page 10(2
<br /> i
<br /> !
<br />
|