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<br /> ���' DOCUMENT NO. STATE BAR OF WISCONSIN FORM 11-1982 THIS SPACE RESERVED FOR RECORDING DATA
<br /> LAND CONTRACT
<br /> Individual and Corporate
<br /> (TO BE USED FOR ALL TRANSACTIONS WHERE OVER
<br /> $25,000 IS FINANCED AND IN OTHER NON-CONSUMER
<br /> ACT TRANSACTIONS)
<br /> Contract, by and between Roger J. Kippley and Nancy___
<br /> A. Kippley_, husband and wife., and each in his or her
<br /> Qi�rn__xi$hlti. ("Vendor",
<br /> whether one or more) and Frank. Bayer and Florine Bayer,
<br /> .___hugbnnd__nnd wife
<br /> ("Purchaser", whether one or more).
<br /> Vendor sells and agrees to convey to Purchaser, upon the prompt and full per-
<br /> formance of this contract by Purchaser,the following property, together with the
<br /> rents,profits,fixtures and other appurtenant interests (all called the"Property"),
<br /> in Dane County, State of Wisconsin: RETURN TO
<br /> A parcel of land located in the Northwest 1/4, Section
<br /> 25, Town 8 North, Range 7 East, in the Town of Berry,
<br /> Dane County, Wisconsin, more particularly described
<br /> as follows:
<br /> Beginning at the Northwest corner of Lot 2, Certified tercel No. 11
<br /> Survey Map No. 3056, recorded in Volume 12 of Dane County Certified Surveys at pages
<br /> 52 and 53, thence S 85 degrees 59' 30" W, 66.01 feet; thence N 5 degrees 57' 28"
<br /> W, 135.38 feet; thence N 4 degrees 47' 47" E, 150.82 feet; thence N 6 degrees 39' 44='
<br /> E, 729.96 feet; thence S 89 degrees 41' 48" E, 519.01 feet; thence N 79!degreeS' 27' 05"
<br /> E, 108.22 feet; thence N 2 degrees 33' 34" W, 229.67 _feet; thence N 62 degrees 43' 15"
<br /> E, 195.62 feet; thence N 69 degrees. 02' 24" E, 189.44 feet; thence.S 32 degrees 50' 30" i
<br /> E, 152.32 feet; thence S 43 degrees 57' 32" W, 174.62 feet; thence S 6 degrees 40' 15"
<br /> E, 269.08 feet; thence S 63 degrees 36' 56" W, 146.24 feet; thence N 88 degrees 32' 45" 1
<br /> W, 234.75 feet; thence S 20 degrees 59' 36" E, 572.08; thence S 16 degrees 35' 09" E,
<br /> 251.00 feet; thence S 85 degrees 59' 30" W, 887.43 feet to the point of beginning. Thi
<br /> parcel contains 21.406 acres and is subject to a road right of way 33.00 feet over the
<br /> Host Northeasterly part. .
<br /> •
<br /> This is not homestead property. —_-
<br /> (is) (is not) • • . .
<br /> 'designated residence
<br /> Purchaser agrees to purchase the Property and to pay to Vendor at $ e e
<br /> the sum of $ 61,000.00 in the following manner: (a)
<br /> at the execution of this Contract; and (b) the balance of $ 54,900.00 , together with interest from date
<br /> hereof on the balance outstanding from time to time at the rate of 9.5 per cent per annum
<br /> until paid in full, as follows: Monthly payments of $500.00, or more, beginning June 1, 1987
<br /> and continuing on the first .day of each month thereafter until 5 years from the
<br /> date hereof at which time the full remaining principal balance and interest shall
<br /> be paid in full. From such monthly payments, interest shall be deducted and the
<br /> balance applied on principal thereby establishing a new principal balance upon
<br /> each monthly payment. Interest accrues from May 2 1'4' 19 on pnpaid balances.
<br /> Purchaser shall have the right to extend this la con t for an additional five***
<br /> Provided, however, the entire outstanding balance shall be paid in full on or before the 20th day of
<br /> May , 19..92'_ ( the maturity date).
<br /> Following any default in payment, interest shall accrue at the rate of.__9..5._% per annum on the entire amount
<br /> in default (which shall include, without limitation, delinquent interest and, upon acceleration or maturity, the entire
<br /> principal balance).
<br /> Purchaser, unless excused by Vendor, agrees to pay monthly to Vendor amounts sufficient to pay reasonably antici-
<br /> pated annual taxes, special assessments, fire and required insurance premiums when due.To the extent received by Vendor,
<br /> Vendor agrees to apply payments to these obligations when due. Such amounts received by the Vendor for payment of
<br /> taxes, assessments and insurance will be deposited into an escrow fund or trustee account, but shall not bear interest
<br /> unless otherwise required by law. .1.
<br /> Payments shall be applied first to interest on the unpaid balance at the rate specified and then to principal. Any
<br /> amount may be prepaid without premium or fee upon principal at any time after June 1, , 19 87 46
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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
<br /> as the unpaid balance of principal, and interest (and in such case accruing interest from month to month shall be treated
<br />
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