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I r^c ' V«r»<Jof k i it & V*.Uii«l>*riii ( oit\i ) 4itt in|i Dl4(ik% (Kr%i»t*U 19/6)
<br />^his Slgrtcnunt, Made and enured into this.....IQth.............day of MPVerobei:.......
<br />19 JJ , hy and between ............................................... ...............................................................................................-
<br />William S. Kelley, Jr., a single person, and Rodney F, Kelley and Marian L. Kelley,
<br />his wife, as tenants in coimnon.
<br />—......#
<br />parties of tJw first/Hirt, and George A. Jackson Construction Company,
<br />. . , party__of the second part^
<br />That the said parties of the first part ifi considt ration of the covenants and a^ree*
<br />fhcnts of said party . of the second fnirt, htreinafitr contained, herthy sell and a^ree to convey
<br />unto said/Hirty of the second fturt, i*-* and nssi$ns, hy a Warranty ...................
<br />Ihrd, accompanied by an abstract evidmeini title in p<trt of the first fxirt at the date hereof,
<br />or by an owneCs duplicaU ccrtifieale of title, upon the prompt and full performance by said part y
<br />of the second part, of ___ Its .. .....part of this agreement, the tract of land, lying and being in the
<br />Cuuntu of !‘.e.?}*’e.pi|]>...................... and State of Minnesota, described as follows, to-wit:County of
<br />Lot 3, Block 1 and Ouclot A, Kelley & Kelley Division,,
<br />according to the recorded plat thereof.
<br />And said party......of the second part, in consideration of the premises, hereby agree 8. to pay said
<br />paHi«» of tk* first part, a*.®..P.i®P.e..iesigna^^^^^ ...............................________
<br />as and for ihemirehase price of said premises, the sum of ...............................................................................
<br />One Hundred Thousano and no/100 ****** ($100,000.00) * * * * *.* *.*,.* Dollars
<br />in manner and at times following, to-wit: $5,p(»,00 earnest money preYipugiy.paid.; _____^
<br />^24,000.00 cash in hand paid, receipt of which is hereby acknowledged, and
<br />.71,000.00, the Contract Sum, plus interest thereon from the date hereof at the rate of
<br />^ight and one-half per cent (8 1/2%) per armum on the Contract Sum from time to time re
<br />fining unpaid, payable in annual installments of $10,000.00, together with interest
<br />iccrued to date, on the first through the fifth anniversary dates of the date of this
<br />lontracC for Deed. On the fifth anniversary date hereof, the entire then balance of the
<br />Contract Sum, including both principal and interest accrued to date, shall be due and
<br />ayable in full. Vendee may prepay the then balance owed hereunder at any time after
<br />lanuary 1, 1978. Such prepayments shall be credited first to principal and then to in
<br />terest. See the attached Addendum, incorporated herein by reference, for additional
<br />terms and conditions.
<br />Said of the second pan furtlicr cuvciunl.?.... and a» fultuw»: lu pay. bcfoie penally attaches tlierelo,
<br />all laaes due and payable in the year 19.73.., and in sub^t;l|uclU ycats, and all special assessments hcietofoie or hcreaficr
<br />levied.
<br />a • ••• S -••♦•a*.
<br />ilso that any buildings and improvements now on said land, or which shall hereafter be erected, placed, or made thereon,
<br />shall not be removed therefrom, but shall be and remain the property of the part.- iCA. of the first part until this con«
<br />tract shall be fully performed by the partlfiA... of the scctmd part; _____uwa aiLpeaie,io iLecpLtheJuuUla.
<br />fhlf‘bTi*«td ’ Tiflreinisejr «r alt nhnes*rnsiired -in -«onie~rehabfe -insutancc-euvitiiany -or- eMnpaniMr -be-approved-h> 4 he
<br />parr.." ~Tif Ihr hrvt partrai^mt 4oss by-fire 4or-at-lcM 4he> M*fn »•••••« •••*
<br />~ fmTsyklmr tost by ’Windstomr for'M imr rite -wm-of .
<br />-DoIIms
<br />.J}olbfi,
<br />payablt“io*^tid*v»Trr.s.f;.s.r e^the bt« oud.-in -case-oi^losar should these be au^ lur*
<br />phis ^veT'-aiid-itbeve lbe-iMi»ou«6 4hefi-oMM«g .. uU the Jirsupar^.-.. . ________heics,. oc. J&aigns,. the.haUncc
<br />flTatrSd* prifl •dV«r W rirr tald pan." - -0^ lllt-svTomh pan -us.-.r..-.T .T - .r rr.r r. r..r .r.:: rmtrrevt -shaU *0|tp««Wr ond 4o
<br />ddpblil Idlflrfhaimri"JTLrjLr Of^ttie^frsnparr polirK.*vvf ‘^aid'nnsuramre. But should the second part.y___fail to pay any item
<br />to be paid by said part.y...... under the terms hereof, same may be paid by first part.........and shall be forthwith pay*
<br />able, with interest thereon, as an additional atiiuuiit due fir.st part ies under this contract.
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