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i2 6102
<br />DOCUMENT NO.
<br />a ,1 P3 Mt130
<br />CONTRACT, by and between The °do. e_ h..._.I:.F-tthe s.._and.. E J.izabeth J,_D atthews,„,._
<br />h i s wife t._I01 n1_1,,,_„._ ___,,,,_._________. ___ _ __ __ ,... µ___ Jerein called Vendor, whether one or more,
<br />and .J ,re. —;...,./,..,,,,Schmitt aPsl .g thG.x...0.,._5-cji ..t.t.,-_}l.uabail ] and_wife as _joint
<br />tenants, _ _ _ ........__...._.._ _..__..___..herein called Purchaser, whether one or more,
<br />' lTNESSETH: That the Vendor, in consideration of the payments to be made and the covenants and agreements by the Pur-
<br />chaser to be performed, as hereinafter set forth, hereby sells and agrees to convey unto the Purchaser, upon the prompt and full
<br />performance by the Purchaser of the covenants and agreements of this contract to be by the Purchaser performed, the following described
<br />real estate in ...._ Dane County, State of Wisconsin, to -wit:
<br />The South half of the following described lands:
<br />The SW1/4 of the NE1/4 of Section 10, T 6 N, R 8 E,
<br />Tvp. of Verona, Dane County, ".is., excepting the
<br />South 10.00 Acres.
<br />Subject to, existing County Trunk Highway "id" over
<br />the 'West 50 feet.
<br />Containing 14.66 Acres.
<br />together with all buildings, improvements, fixtures and appurtenances, now or hereafter erected thereon, including all screen and storm
<br />doors and windows, attached mirrors, fixtures, shades, attached flour covering, hot water heater, furnace, oil tank and light futures
<br />which shall be a part of the real estate.
<br />The Purchaser, in consideration of the covenants and agreen__ats herein made by the Vendor, agrees to purchase the above
<br />described premises, and to pay therefor to the Vendor aL.$.2.3.3. lie .on.a••-ILO<'idr• eN2-131-S- lese_KiS-C nSien.,...,
<br />the sum of_...T.S.^:.C.nt.Y_-.4.71.0.._1.11.O.1t_S..... a.. N .l!e._..ivn red Ntn. etx.-.jfi 14 92.0, 001. _. _ .Dollars,
<br />in manner following: ..... _. at the execution hereof, the receipt whereof is hereby acknowledged, and the balance
<br />of $.1Z,.49.Q. f1Q...___..�.- together with interest on such portions thereof as shall remain from time to time unpaid, at the rate
<br />of__ c i x_... per cent per annum, until paid in full, as follows: Said principal QtukiAklPept shall be payable in_...S.e.3e.i.,.,z.nn.ua 1
<br />installments of not less thans..a457-..S.O...i.n:pxad.cli:t.i.c7—'t.Ol...-7..nt.er•e,srtginning on
<br />day of - 1`iP i , 19 69 , provided tie entire purchase money and interest shall be fully paid within
<br />- S.i X __ _.................._______ years from rkeattlextrAgF9f. 3 / 1/ •
<br />Said payments shall be applied first to interest on the unpaid balance at the rate herein specified and then to principal. Any
<br />CC amount may be prepaid without premium or fee upon principal at acy time, and interest shall be calculated at all times on the unpaid
<br />balance on the daily rate basis at 1/360 of the annual rate.
<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
<br />e.- balance of principal, and interest (and in such case accruing interest :ram month to month shall be treated as unpaid principal) is less
<br />than the amount that said indebtedness would have been had the me _-hly payments been made es first specified above; provided that
<br />i) monthly payments shall be continued in the event of credit of any proceeds of insurance or condemnation, the condemned premises
<br />being thereafter excluded herefrom.
<br />The Purchaser hereby states that he is satisfied with the title as shown by the abstract -title insurance commitment submitted to
<br />him for examination; the Vendor agrees to deliver the abstract -title insurance policy to the.Purchaser when the full purchase price
<br />hereunder shall have been paid. The Purchaser agrees to pay the cost of later continuations of abstract -title insurance.
<br />(OR) The Vendor shall furnish the Purchaser thirty days prior to :he date of ultimate closing, and the Purchaser shall accept as a
<br />sufficient showing of title, either (1) a title insurance commitment far an owner's policy of title insurance in the sum of the purchase
<br />price, the Purchaser to be named as the assured, to be written by a title insurance company, and guaranteeing the Vendor's title in
<br />the condition called for by this agreement, or (2) a merchantable abstract showing the Vendors title in the condition called for by
<br />this agreement. If an abstract is furnished, the Purchaser shall notify the Vendor, in writing, of any objections to title within ten (10)
<br />t‘IT days 'after receipt of such abstract, and the Vendor shall then have a reasonable time within which to rectify the title or furnish a
<br />title policy as above described.
<br />The Purchaser shall be entitled to take -possession of said premises on. 19 19 69 In case
<br />p ssession is to be obtained by the Vendor, he shall have a reasonable time after such date in which to remove any occupant. The
<br />Purchaser shall In entitled to remain in possession as long as he performs all covenants and agreements herein mentioned on his part
<br />to be performed and no longer. The Purchaser covenants and agrees as follows:
<br />1. To pay before they become delinquent all taxes and assessments, now or hereafter assessed or levied against and on the
<br />real estate described in this contract and to deliver to the Vendor :eceipts evidencing due payment thereof.
<br />2. To keep said premises insured for fire and extended coverage for at least the sum of __. , to pay the
<br />premiums thereon when due, and to comply with coinsurance provis:ons, if any, in insurance companies approved by..the Vendor with
<br />loss payable to the Vendor as interest may appear, and all policies cove_ing said premises shall be deposited with and held by the Vendor.
<br />3. To keep the premises in good condition and repair.
<br />4. To keep the premises free from liens superior to the lien of this contract, or the rights of the Vendor in the premises.
<br />5. Not to commit waste nor suffer waste to be committed.
<br />6. Not to do any act which shall impair the value thereof.
<br />In case any well taxes or assessments remain unpaid after they become delinquent, or in case of failure to keep the premises so
<br />insured, the approved policies deposited, or the insurance premiums paid, or to keep the same in good condition and repair, free
<br />from liens and waste, the Vendor may. cure such defaults; and all sums so paid shall immediately be repaid to the Vendor and shall,
<br />unless so repaid, be added to and deemed part of the purchase price and bear interest at the rate aforesaid.
<br />The Vendor hereby agrees that in case the aforesaid purchase price with the interest and other moneys shall be fully paid and
<br />all the conditions herein provided shall be fully performed at the tines and in the manner above specified, he will on demand, there.
<br />after cause to be executed and delivered to the Purchaser, a good and sufficient Warranty Deed, in fee simple, of the premises above
<br />described, free and clear of all legal liens and encumbrances, except taxes and assessments, any liens or encumbrances created by the
<br />act or default of the Purchaser, municipal and zoning ordinances a-'d recorded easements and restrictions, and except: .....
<br />bps contract is subject to one prier Land Contract between vendors
<br />a d liar 7alzu !~.A h1 a11d 6ylyia L Dahlk his wife,recorded in Vol.403
<br />of Miscel., page 425, as docuzent n_'126(101,Dane 'County, 1 i3'. ,Re-diVtxy.
<br />LAND CONTRACT —Individual and Corporate STATE OF WISCONSIN
<br />Section 335.1C Wtecorsln Statutes Revised 1956 mass Ns. 38
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