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vc>15070 FACE 76
<br /> Purchnser promises to pay when due all taxes and assessments levied on the Property or upon Vendor's interest
<br /> in it and to deliver to Vendor on demand rcceipi.,t showing such payment.
<br /> Purchaser shell keep the Improvements on the Property insured against lose Or damage occasioned by fire, ex-
<br /> tended coverage perils,nnd such other hazards as Vendor may require, without cu-insurance, through insurers approved
<br /> by Vendor, In the sum of =....150. 000..00. , but Vendor shall not require coverage in an nmoent more
<br /> than the balance owed under thia Contract. Purchaser shall pay the insurance premiums when due. The pel.'ies call
<br /> contain the standard clause in favor of the Vendor's interest um],unless Vendor otherwise agrees in writing,the original
<br /> of all policies covering the Property shall be deposited with Vendor. Purchnser shall promptly give notie.: cf he,a V,
<br /> Insurance companies and Vendor. Unless Purchaser and Vendor otherwise agree in writing, insurance pr,— •1: ,rt
<br /> lie applied to restorttion or repair of the Property damaged, provided the Vendor deems the restoration or .o 'r
<br /> • economically feasible.
<br /> Purchaser covenants not to commit waste nor allow waste to be comnlitted on the Property, to keep Lla Proper)
<br /> in good tenantable condition and repair, to keep the Property free from hens superior to the lien of thin Contract,r.rd
<br /> to comply with all laws,ordinance% and regulations affecting the Property.
<br /> Vendor agrees that in case the purchase price with interest and other moneys shall be fully paid and all contiit.ons
<br /> shall be fully performed at the times and in the manner above specified, Vendor will •a demand, execute and &liver to
<br /> the Purchaser, a Warranty Deed, in fee r,imple,of the Property, free and clear of ail liens and encumbrances, except
<br /> a■y liens or encumbrances crested by the act or default of Purchaser, and except:
<br /> ['u:chaser agrees that time is of the essence and (a) in the event of a default in the payment n1 any principal or
<br /> interncr continues for a period of....60..days following the specified due date or (b) in the event of it default In
<br /> performance of any other obligation of Purchaser which con linu,•s for n period 01...60_.days following written notice
<br /> thereof by Vendor (delivered personally or smiled by certified instil),then the entire outstanding balance under this contract
<br /> shall become immediately due turd payable in full, at Vendor's uptinu and without notice (which Purcbaser hereby
<br /> waives).and Vendor shell also have the following rights and remedies (subject to any limitations provided Icy law) in
<br /> addition to those provided by law or in equity: (i) Vendor may, at his option, terminate this Contract and Purchaser's
<br /> rights, title cunt interest in the Property and recover the Property buck through strict foreclosure with any equity of
<br /> redemption to be conditioned upon Purchaser's full payment of the entire outstanding balance,with interest thereon from
<br /> the date of default at the rate in effect on such dateuul other anmuntsdice hereunder tin which nuo,unto previously
<br /> paid by Purchnser shall be forefcited as liquidated damages for failure to fulfill this Cunlrclet and as rental for the
<br /> Property if purchaser fails to redeem); or (iiI Vendor may sue for specific performance of this Contract to compel
<br /> immediate and full payment of the entire outstanding balance, with interest thereon at the rote in effect on the date of
<br /> default and other amounts due hereunder,in which event the Property shall be auctioned nt judicial sate and Purchaser
<br /> shall be liable for any deficiency:or (iii) Vendor may sue at law for the entire unpaid purchase price or any portion
<br /> thereof: or (iv) Vendor may declare this Contract nt an end and remove this ('ontractasacloud on title in a quiet-title
<br /> action it'the equtiable interest of Purchaser is insignificant: and (v) Vendor may have Purchaser ejected from possession
<br /> of the Property and have tt receiver appointed to collect any rents, issues or profits during the pendency of any action
<br /> under (i), (ii) or (iv) abm•e.Notwithst:u:ding any oral or written statements or actions of Vendor,an election of any
<br /> of the foregoing remedies shall only be binding spurn Vendor if and v:hen pursued in litigation and all costs and expenses
<br /> including reasonable attorneys fees of Vendor incurred to enforce any remedy )hereunder (whether abated or not) to the
<br /> extent not prohibited by law and expenses of title evidence shall be added to principal and paid by I'ur,•haser, as in.
<br /> Purred, and shall be included in any judgment.
<br /> Upon the commencement or during the pendency of any action of foreclosure of this Contract, Purchaser consents
<br /> to the appointment or a receiver of the Property, including homestead interest,to collect the'rents, issues,and profits of
<br /> the Property during the pendency of such action,and such rents, issues,and profits when so collected shall be held and
<br /> applied as the court shall direct.
<br /> Purchaser shall not transfer, sell or convey any legal or e,pritnble interest in the Property (by assignment of any
<br /> of Purchaser's rights under this Contract or by option,long-term lease or in any other way) without the prior written
<br /> consent of Vendor unless either the outstanding balance payable under this Contract is first paid in full or the interest
<br /> conveyed is at pledge or assignment of Purchaser's interest under this Contract coley as security for an indebtedness of
<br /> Purchaser. In the event of nay such transfer,sale or conveyance without Vendor's written consent,the entire outstanding
<br /> balance payable under this Contract shall become imnedintly duo and payable in full, at Vendor's option without notice.
<br /> Vendor shall make all payments when due under any mortgage outstanding against the Property on the date of
<br /> this Contract (except for any mortgage granted by Purchaser) or under any note secured thereby, provided Purchaser
<br /> makes timely payment of the amounts than clue under this Contract. Purchaser may make any such payments directly to
<br /> the Mnctgagee if Vendor fails to do so and alt payments so nude by Purchaser shall be considered payments made on
<br /> this Contract.
<br /> Vendor may waive any default without waiving any other subsequent or prior default of Purchaser.
<br /> All terms of this Contract shall he binding upon and inure to the benefits of the heirs, legal representatives,
<br /> successors and assigns of Vendor and Purchaser. Of not an owner of the Property the spouse n0 Vendor for a valuable
<br /> ennsideratinn joins herein to release homestead rights in the subject Property and agrees to loin in the execution of the
<br /> deed to he made in fulfillment hereof.)
<br /> Dated this .. _ / S.T- day O: . _. . November , 1s 33 .
<br /> G:'. F 7 ✓c . (SEAL) .. i:.,t. I. \ • (sEAI.)
<br /> Earl Olson, Vendor • Kenneth C. Olson, Purchaser
<br /> 4)6 ryci; �'.CQr Lo (SEAL) /,_. '� :..� •C-� �f''` (SEAL)
<br /> Buena Olson, Vendor Barbara D. Olson, Purchaser
<br /> AUTHENTICATION ACKNOWLEDGMENT
<br /> Signature(s) Earl Olson, Buena Olson, STATE OF WISCONSIN -V
<br /> Kenneth E. Olson and Barbara D. Olson
<br /> County.
<br /> • .uthenticated this .(5.1.day of November___ 198.3.. • Personally cache before me this day of
<br /> (. L,7 the alcove named
<br /> •• "Peter J. Waltz
<br /> i1'f1.F.: MEM1(1ERSTATE, lIt It OF WISCONSIN
<br /> (If not,
<br /> nuthnrizcd by ipG.(1,:, Wi+. Stilts.)
<br /> tO me kpnw"a to be the person who rvceuted the
<br /> foregoing instrument :had acknowledge the sane.
<br /> .iT fe V'C o'er'::O6 Du.,rT[b Ile
<br /> Attorney Peter J. Waltz
<br /> •
<br /> Mt. Horeb,..Wisconsin 53572 Notary Public County, Wis.
<br /> (Srgoa t,:,em may he ant.hen Prated or rude nowt-dged. 11,,t!: lily l nmm i•.sinn is permanent.(If not, state ,v-piratinn
<br /> ore n,,,, .,,.,•■•:uotrv•) Jute: _ , 12...... ..)
<br />
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