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VOL 5242 CONTRACT, A S OF AGR1;1~MEiti'2; Made and concluded this....qmty- „ , , , , ,day of..... .A.D. vwnlr 19.4U., by and between The LAKEWOOI), Deverobers Qrgantzation of Chicago, Tfiinois, as Party of the First Part, and....... ...........st =)� of the Second Part, . ................EC.. ' DYly ' : , :...., .. . WITNESSETH: The first party agrees that if the second: party shall first make all of the payments and perform all agreements e hereinafter provided to be made and .perfortned by the saidparty of the second part at the time and in the manner hereafter specified,.the first party will convey to the said=second party by a good and sufficient Warranty Deed the following described tract, or parcel of ]and viz: AdMO�� 12�Eas�t�of the3rd Principal �� •Highwood �, Estates. Th d • rd) in t , t p Meridian in Township 5, in Dane County, Wisconsin, 1. The party of the second part hereby covenants and agrees to pay to the •garty of the first part, at the office of Lake- wood Developers Orgauization,1 N. T,aSalle St., Chicago, Illinois, or at such place as the party of the first part may designate, the Total Sum of... Ttto, . TH0tj$-AjM4M Dollars ($• ate$ ) With interest thereon as hereinafte stated in the'fotlow'ng planner..... _. •�,��, er _ C 'f i, kit? i ec t .. .....n(y. . 1006 Dollars ($......�`�&. (jQ.. .) on to ��'reof ie re u o' vh s nee 4;��he balance of.. ...... ($......�) in monthly installments of ............... I .,�gg9 •:i Dollar ($,. ,..) or more payable on the..... ......day of each month commencing......, ,7 .2..........19. atil the entire balance is paid, payable at the place aforesaid with interest at the rate of Six Per ent per annum payaU`le monthly on the entire balance remaining from time to time unpaid. 2. Party of the second part furthur agrees to pay all general taxes assessed or levied after this date and to pay all taxes or assessments whether general or special now or hereafter levied or assessed on said property All taxes and assessments "'nether general or special herein provided are to be paid by the party of the second part before they become delinquent. Ili case second party fails to pay such taxes and assessments before they become delinquent, the first party may at its option, pay the same, or cause the same to be paid, and any and all payments so made by the first party together with a charge of $2.00 un each lot herein described for services rendered by the first party in making such payment, shall become and be so much additional consideration for the real estate herein described and shall become and be immediately due and payable from the second party to the first party, with interest thereon at the rate of Seven Per Cent per annum from date of the pay- ment of such taxes or assessments by the first party. First party shall not be required to inquire into the validity of any such taxes or assessments. 3. That said party of the second part covenants and agrees that said premises shall only be used for residential pur- poses and that no building except one dwelling house and a garage shall be erected on each lot and which dwelling house shall cost not less than $.........., and said garage shall be erected on the rear of said lot; and subject further to the limitations, conditions, bttidmg Iine and other restrictions, contained in the plat of said subdivision and all the rules and regulations which may hereafter be made by said party of the first part or by any association of owners of a majority of the lots in said subdivision concerning the use of the private drives, walks, parks and places shown upon said plat, and all of which conditions, limitations and restrictions shall be incorporated in any deed executed for said premises and shall be construed as covenants which rum with the land and shall be binding on the party of the second part ......................... devisees, successive grantees and assigns. Said party of the first part covenants and agrees that like restrictions, linnita- tions and conditions with the exception of the amount of the cost of said dwelling house shall be contained in all contracts and deeds for the sale of other lots in said subdivision, with the exception of lots in said subdivision which are or will be designated by parties of the first part as business or commercial lots. 4. It is further expressly understood and agreed is follows : That time is the essence of this contract; that in case of the failure of the second party to make any of the payments or to perform any of the covenants to be made or performed by the second party, as herein provided, at the time and in the manner herein specified and the second party be in default for a period of 30 days, then this contract shall at the option of the first party, become payable immediately upon such default or may be determined and cancelled, in which case all payments made hereunder shall be retained by said first party as liquidated damages and not as a penalty, and said party of the first part shall have the right to re-enter and take possession of all the premises aforesaid and declare a forfeiture of this contract. 5. It is expressly agreed that in the event the first party shall elect to declare a forfeiture of this contract by reason of a default of the second party, 4 written declaration of .such forfeiture duly signed by the first party, enclosed in a post paid wrapper addressed to the second party at ........................ �shi •}� .... and deposited in the United States post office or in any mail box or mailing el u erini�n R� �i y op icagu;-s�ili' k�• e'tiTe4 or not such communication shall have been actually received by the second party, be, for any and all purposes of this agreement, finally and conclusively deemed to have been personally served upon the second party, and the affidavit of any agent or employe of the first party setting forth that such written declaration of forfeiture had been made by him to the second party as herein provided, shall be conclusive evidence in favor of any subsequent purchaser of the real estate herein described from the first party or the then holder of the legal title thereof, that all rights of the second party under this contract, and those claimed through or under the second party, have been fully and completely terminated and extinguished. G. That no failure on the part of the first party to enforce any right accruing to them because of any default of the second party in promptly performing any of the provisions hereof, no matter how many times such failure to enforce such rights may be repeated by the first party, shall be construed to operate as a waiver of any of the provisions of this contract, but the first party may at any time waive any default in any of the provisions hereof without prejudice to their right to enforce each and all of the provisions of this contract with reference to any subsequent violation thereof. 7. The second party expressly represents to the first party that the second party has (a) personally examined and com- pared the lot and block numbers of the real estate described herein with the lot and block numbers shown on a copy of the ]minted plat of the subdivision described, and found same to be correct; and (b) personally gone upon said property and examined its location. 8. Second party expressly represents to the first party that no representations of fact other than herein contained have been made to or relied on by the second party, that no representation or promise has been made to said second party by any person whatsoever as to the transferability of this contract, or as to any waiver lir ally forfeiture that may hereafter accrue hereunder, or as to the purpose of which such lots can be used, or as to the character of the buildings that inner he placed thereon, or by whom the same may be erected or built, or in relation to any other matter, cause or thing, except as hereinabove set forth. 9. It is expressly understood by the second party that the first party does not undertake or agree to resell for the second party the real estate herein described. 10. The covenants and agreements herein contained shall extend to and be obligatory upon the heirs, executors, adminis- trators and assigns of the respective parties. 11. That the conveyance herein contemplated of the premises aforesaid shall be subject to the following restrictions binding upon the second party their heirs, assigns and purchasers from them. A None but Chemical or other Sanitary Toilet approved by Wisconsin B9ard of Hcalth to be constructed in dwelling built on premises. B No outhouses of any descripgon ear _jiL_oe garage per lot to be erected on rear -of -lot. �rU N'o I'Mees except ornamental hedge's to tie erected ort lot. D No building to be erected,nvith.inl5 feet of front lot line or 5 feet of side lot line. E - All refuse and garbage to 'be burned. F No tents to be permanently erected or maintained on lot. U This lot or any improvements that shall be erected thereon shall never be sold, rented, leased, assigned or con- veyed to any one who is not a Caucasian. II No sign to be erected on premises or posted in or on any building thereon without written consent of first party. I Party of the second part agrees not to sell, assign or lease said property without written consent of first party, until such time as purchase price is paid in full. ' j Party of the second part agrees to keep premises reasonably clean and not to cut down trees for sale or firewood. This contract is not to be recorded. In the event this contract is recorded, the same becomes null and void. IN WITNESS WHEREOF`, ilia—aid patties have hereunto set their hands and seals, in duplicate, the clay and year first above written. The LAKEW O Deter oPers Organization Purchaser By .... .... .. . .. ............ .. (Seal) '74 Signed an se ed in Pres ice of `bVittiesses 7t .................. ................. ......(Seal) y ....................... ....... .............. ......(Seal) ................................... E�ca6z&»e a a .........................,...,...........(Seal) ...............................: ... .................... .................(Seal)