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6 AQ 38
<br />41-96 voL 156 m- E167
<br />C3
<br />CONTRACT
<br />ARTICLES OF AGREEMENT FOR WARRANTY DEED, Made and concluded Ai 'this.... ay of ....... bi :.......I..........
<br />NAT MALNICK and MAORAY G. MALNICK, doing busintu as
<br />A D. 19— by and between The LAK EWOOD, Developers, Organization of Chicago, Illinois, as Party of the
<br />,
<br />First Part, ........................
<br />of the Second alla Mt 8:G t S in 1310MInbu*
<br />.................. _.-Pant ..................
<br />Part, WITNESSETH-
<br />The first party agrees that if the second party shall .first make all of the payments and perform all agreements hereinafter
<br />provided to be made and performed by the said party of the second part at the time and in the manner hereinafter specified,
<br />the first party will convey to the said second party by a gog,d and sufficient Warranty. Deed the following described tract, or parcel
<br />of land viz: Lot numbered ...... t9g. B�o_ th #)fteWftnong Part of
<br />"wVA-i) ownl e 2 bat, in the Town of
<br />the South East Quarter v ' owns $ I Cie' ' 0 1
<br />(SEI/4) of SectionNIAn0i e sNpUe"DI "66FEMMIg. �!c ( I ast. In
<br />Albion, County of Dane and State of Wisconsin, and will deliver a complete merchantable Abstract of Title or merchantable Guaranty
<br />Policy subject to the right of the Lakewood Developers . rganization to an casement in, to, under, over, through, said property for
<br />the purpose of installing conduits, electric wires, transformers, poles, etc., and/or gas mains-,ki—pm - ,nsions. Second party to pay
<br />for said merchantable abstract of title, or merchantable guaranty policy at a cost not to exceedeTMOF 215*00W
<br />1. The party of the second part hereby covenants and agrees to pay to the party of the first part, at the office of Lakewood
<br />S- place party e, the
<br />as the P'
<br />c
<br />12101
<br />__ �e d,
<br />Developers Organization, 100 N . L tile St., Chicago, Min u
<br />Illinois
<br />Total Sum of ......... FqM;tq@n..A ftkUM ... SIMA .... .....
<br />w.th interest thereon as hereinafter stated in the following .... ... ......
<br />Y.
<br />c
<br />Dollars ($ ............ PAN ........... on date hereof, the receipt Of which I 'ere ck.. 'd .....
<br />..Is 00
<br />....... ... . 4
<br />Aqtq..#. pa p..
<br />... . . 1h .. .........
<br />.................. Z ...... in monthly installments of
<br />ollars ($ ............................. ............................................ day of
<br />............ T.amxkti a 20600 --- ) or more payable on the ........ elleverth
<br />each month comillencing.... -•• . 19...... until the entire balance is paid, payable at the place aforesaid with interest
<br />at the rate of Six Per Cent per annum payable monthly on the entire balance remaining from time to time unpaid.
<br />2. Party of the second part further agrees to pay all general taxes assessed or levied after this date and to pay all taxes or
<br />assessments whether general or special now or hereafter levied or assessed on said property. All taxes and assessments whether
<br />general or special herein provided are to be paid by the party of the second part before they become delinquent. In case second
<br />party fails to pay such taxes and assessments before they become delinquent, the first party may at its option, pay the same, or
<br />cause the same to be paid, and any and all payments so made by the first party together with a charge of $2.00 on each lot herein
<br />d,,scr:bcd for services rendered by the first party in making such payment, shall become and be so much additional consideration
<br />for the r�,al estate herein described and shall become and be immediately due and payable from the second party to the first party,
<br />with interest thereon at the rate of Seven Per Cent per annum from date of the payment of such taxes or assessments by the
<br />first party. First party shall not be required to inquire into the validity of any such taxes or assessments.
<br />3. That said party of the second part covenants and agrees that said premises shall only be used for residential purposes and
<br />that no building except one dwelling house and a garage shall be erected on each lot and which dwelling house shall cost not less
<br />than $ ........ 0.0.0-.6-M ......... and said garage shall be erected on the rear of said lot; and subject further to the limitations, conditions,
<br />building line and other restrictions, contained in the plat of said subdivision and all the rules and regulations which may hereafter
<br />be made by said party of the first part or by any assoc-, . ati I an of owners of a majority of the lots in said subdivision concerning the
<br />use of the private drives, walks, parks and places shown upon said plat, and all of which conditions, limitations and restrictions
<br />shall be incorporated in any deed executed for said premises and shall be construed as covenants which run with the land and shall
<br />be binding on the party of the second part,........ 1%AU! ........................ dev;sccs,_ successive grantees and assigns. Said party of the first
<br />part covenants and agrees that like restrictions, limitations and conditions with the exception of the amount of the cost of said
<br />dwelling house shall be contained in all contracts and deeds for the sale of other lots in said subdivision, with the exception of
<br />loss in said subdivision which are or will be designated by parties of the first part as business or commercial lots.
<br />4. It is further expressly understood and agreed as follows: That time is the essence of this contract; that in case of the failure
<br />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,
<br />as herein prov;ded, at the time and in the manner herein specified and the second party be iri default for a period of 30 days, then
<br />.. o -r- _t *tfi--option of the first party, become payable immediately upon such default ormay hie'—dRermined and
<br />this contract -tall a c
<br />cancelled, in which case all payments made hereunder shall be retained by said first party as liquidated damages and not as a
<br />penalty, and said party of the first part shall have the right to reenter a.id take possession of all the premises aforesaid and declare
<br />a forfeiture of this contract.
<br />S. It is expressly agreed that in the event the first party shall elect to declare a forfeiture of this contract by reason of a
<br />default of the second party, a written declaration of such forfeiture duly signed by the first party, enclosed in a post paid wrapper
<br />addressed to the second party at ................................................................................................ ................................. ............... and deposited
<br />in the United States post office or in any mail box or mailing chute in the City of Chicago, shall, whether or not such corn•
<br />mun;zation shall have been actually received by the second party, be, for any and all purposes of this agreement, finally and
<br />conclusively decired to have been personally served 'upon the second party, and tile affidav 't of any agent or employe of the first
<br />party setting forth that such written declaration of forfeiture had been made by him to the second party as herein provided, shall
<br />be conclusive evidence in favor of any subsequent purchaser of the real estate herein described from the first party or the then
<br />holder of the legal tide thereof, that all ri;:hts of the second party under this contract, and those claimed through or under the
<br />second party, have been fully and completely terminated and extinguished.
<br />6. That no failure on the part of the first party to enforce any right accruing to them because of any default of the second
<br />party in romptly performing any of the provisions hereof, no matter how many times such failure to enforce such rights may be
<br />repeated �y the first party, shall be construed to operate as a waiver of any of the provisions of this contract, but the first party
<br />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
<br />provisions of this contract with reference to any subsequent violation thereof.
<br />7. The second party expressly represents to the first party that the second party has (a) personally , c%aminedand compared
<br />0,e lot and block numbers of the real estate described herein with the lot and block numbers shown oil a copy of t ie printed plat
<br />of the subdivision described, and found same to be correct; and (b) personally gone upon said property and examined its location.
<br />S. Second party expressly represents to the first party that no representations of fact other than herein contained have been
<br />milac to or relied on by the second arty, that no representation or promise has been made to said second party by any person
<br />what,;o,ver -,is to the transferability of this contract, or as to any waiver or any forfeiture that may hereafter accrue hereunder,
<br />or as to the purpose of which such lots can be used, or as to the character of the buildings that may be placed thereon, or by
<br />whom the same may be erected or built, or in relation to any other matter, cause or thing, except as hereinabove set forth.
<br />9. It is expressly understood by the second party that the first party does not undertake or agree to resell for the second
<br />party the real estate herein described.
<br />10. The covenants and agreements herein contained shall extend to and be obligatory upon the heirs, executors, administrators
<br />and assigns of the respective parties.
<br />11. That the conveyance herein contemplated of the premises aforesaid shall be subject to the following restrictions biading
<br />upon the second party their heirs, assigns and purchasers from them.
<br />A None' but Chemical or other Sanitary TD-Ict approved by Wisconsin Board of Health to be constructed in dwelling
<br />built on premises, flush toilet of any description not to be installed.
<br />B No outhouses of any description except one garage per lot -to be erected on -rear of lot.
<br />C No fences except 'ornamental hedges to be erected on lot. -
<br />D No building to be erected within 15 feet of front lot line or 5 feet of side lot line.
<br />E All, rcfuoD-and,ga#a pe, -w_br-6prncdI-
<br />,
<br />F No tents to be erected or maintained ,on lot.
<br />* This lot 'or any improvements that shall be erected thereon shall never be sold, rented, leased, assigned, transferred
<br />or conveyed to any one who is not of the Caucasian race.
<br />* No sign to be erected on premises or posted in or on any building thereon without written consent of first party.
<br />I Party of the second part agrees not to sell assign or lease said property without written 'consent of first party, until
<br />such time as purchase price is paid in full.
<br />J Party of the second part agrees to keep premises reasonably clean and not to cut down trees for sale or firewood.
<br />K Building plans and specifications of any building to be erected on lot covered by this contract to be submitted to the
<br />Lakewood Developers Organization for their written approval,
<br />L No debt, lien or encumbrance of any description to be incurred or cause to be incurred by the party of the second part
<br />oil or against lot covered by this contract until such time as this contract is paid for in full or such debt, lien or encumbrance
<br />is approved by the party of the first part in writing.
<br />This contract is not to be recorded. In the event this contract is recorded, the some becomes null and void,
<br />IN WITNESS WHEREOF, the said parties have hereunto set their hands and seats, in duplicate, the day and year first
<br />above written. .1Z19 I - — // /,-? r NAT MALNICK and 1I4AURAi C. MALNICK. doing busintn as
<br />It . - /,�— The LAKE-WOOD DeveloPertOrgall'afl V
<br />orchaser ... ...... . ......... .... .. A/__A*��*Z.
<br />By
<br />y
<br />i:� .... .... .... . . . . ..... ....
<br />ligiied-aud scaled I le CO(\Vt es
<br />0 =MMMA
<br />... . ......
<br />.......... a� . ... . .. . ... REC--0R1,rV_E_D —
<br />................... . ....... . ...... ...... .
<br />1941_1
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