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IDOCUMENT NO i '- i i_ � 4.J I Section 235.16. 111:CUr,out :itatutu;,
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<br /> i ONTRACT, by and between th.e _E.dger.ton..Airport. Development Corporation of
<br /> Edgerton, Wisconsin, herein called Vendor, whether one or more, i
<br /> and -S. A. Jana and Gertrude T. Jana, his wife,.
<br /> _... -. . - .herein called Purchaser, whether one or more,
<br /> \VI'INFSS[I l 1: that the Vendor, in consideration of the payments to be made and the covenants and agreements by the Purchaser
<br /> to be performed, as hereinafter set forth, hereby sells and agrees to convey unto the Purchaser, upon the prompt and full performance by the I
<br /> Purchaser of the covenants and agreements of this contract to be by the Purchaser performed, the following described' real estate in
<br /> Dane. County, State of Wisconsin, to-wit:
<br /> Outlot 76, Assessor's Plat of Village of Albion, in the Township of Albion',
<br /> except the East 152 feet of the North 363 feet thereof and also except the
<br /> West 32 feet thereof;
<br /> The Southeast 1/4 of the Northeast 1/4 of Section 28, Town 5 North, Range i
<br /> 12 East (Township of Albion) , except that part sold to Walter Borde and
<br /> Elizabeth Borde, -his wife, as joint tenants, as contained in Warranty Deed- Y_1
<br /> recorded September 12, 1934, in Vol. 365 of Deeds , page 351, as Document -q +
<br /> No. 561221, and also excepting the West 32 feet thereof. ,
<br /> That attached hereto are further conditions and provisions pertaining '
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<br /> said sale, which are made a part hereof; .
<br /> This contract is given in accordance with a resolution passed at the ac,clf,,,'iti _:•*,
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<br /> meeting of the stockholders of the Corporation to correct and reform the .•eaI•1 _. 1
<br /> cription in the land contract dated the 1$th •day of September, 1959, the rose 4
<br /> olution having been dated January 23, 1961.
<br /> The 41,000.00 semi-annual payment hereinafter referred to shall be applied
<br /> to pay the interest on this contract and the 43,000.00 note as well, and thei
<br /> balance -of said 41,000.00 semi-annual payment remaining, after payment of I
<br /> interest, may be applied as vendor wishes, either as payment of principal onl
<br /> the 43,000.00 note, or as payment of principal on this contract, j
<br /> to
<br /> together with all buildings, improvements, fixtures and appurtenances, now or hereafter erected thereon, including all screen and storm doors 1
<br /> and windows,wtrMraeFtrdwnntr+r.e, fixtures, rhrcLspetweohoui. k,erucerve
<br /> c0 shall be a part of the real estate. Vendo does fur ice,adnalaand usht runes hn h ,
<br /> Vendor. �oes no� own a gasoline �an�t. The
<br /> H43,000,00 paid today is in the form of a promissory note and mortgage on I
<br /> tor4.41+114-u.rr-,ier..01-414«oita-oottty, Lot 22, Watts Spring, town of Fulton, hock County,
<br /> 41 Wisconsin. '
<br /> 4 The Purchaser, in consideration of the covenants and agreements herein made by the Vendor, agrees to purchase the :11x,ve dcscntx'd •I
<br /> lA premises, and to pay therefor to the Vendor at dgerton, Wisconsin,
<br /> pia the sum of FIFTEEN_'1'HJUSA I:D and NO/100 Dollars,
<br /> D in manner following: $ 3,000.00 .-- - at the execution hereof, the receipt whereof is hereby acknowledged, and the balance of I
<br /> $ 12,000.00 , together with interest on such portions thereof as shall remain from time to time unpaid, at the rate of five '
<br /> per cent per annum, until paid in full, as follows: Said principal and interest shall be payable in S emi-annual installments
<br /> of not less than $1,000.00 1111 -. ._ , beginning on the-1st day of . July . . , 1960
<br /> provided the entire purchase money and interest shall be fully paid within. .....ten . . ... _. years from the date hereof II
<br /> No interest shall be charged for the period from September 18, 1959, to
<br /> December 31, 1959 .
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<br /> Said payments shall be applied first to interest on the unpaid balance at the rate herein specified and then to principal any ,1010001 I
<br /> may he prepaid without premium or fee upon principal at any time, and interest shall be calculated at all times on the unpaid balance on the
<br /> daily late basis at I!3 h(f of the annual rate.
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<br /> In the event of any prepayment, this contract shall not be treated as in default with respect to payment so long as the unpaid balance
<br /> of principal, and interest (and in such case accruing interest from month to month shall be treated as unpaid principal i is less than the tunount I
<br /> that said indebtedness would have been had the monthly payments been made as first specified above; provided that monthly payments shall
<br /> be continued in the event of credit of any proceeds of insurance or cogdemnation, the condemned premises being thereafter excluded herefrom. !1
<br /> The Purchaser hereby states that he is satisfied with the title as shown by the abstfaet-title insurance commitment submitted to him I
<br /> for examination the Vendor agrees to deliver the abewreee-title insurance policy to the Purchaser when the full purchase price hereunder shall II
<br /> have been paid. The Purchaser agrees to pay the cost of later continuations of etwtt-title insurance.
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<br /> The lurch-,ser shall be entitled to take possession of said premises on December .31. . 19.59 . In case possession is I
<br /> to he obtained hs i he Vendor,he shall have a reasonable time after such date in which to remove any occupant The Purchaser shall be entitled I
<br /> to r,;, vt ;•",.',r`,,�,f, long as he performs all covenants and agreements herein mentioned on his part to be pet formed and no longer.
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<br /> 1,,,: , ,,,,!„ . covenants and agrees as follows:
<br /> 1. To pad before they become delinquent all taxes and assessments- now or hereafter ass sled or levied against and on t , real estate
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<br /> described in this contract and to deliver to the Vendor receipts evidencing due payment thereof. Vendor to pay 19 taxes .I
<br /> �.__... r.....• .1. ti 000 .00
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