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Board met in regular session !at 10:00 A. M. All members present.
<br />The Following contract was'a
<br />C O'N T R A C
<br />oved by the Board. of Public Works.
<br />This agreement made this 29t . day of, -April ,1920m by and between
<br />Jahn D. Burke and Lillian F. Burke, husband and wife, of St. Joseph County, State of
<br />Indiana, parties of the -first part, and the Cit of South Bend, St. Joseph County, State
<br />of Indiana-, party of the second part, WITNESSETH:
<br />#That for and in consideration of the
<br />promises and agreements 'hereinafter contained on' -the part, of said party of the second
<br />part to be kept, done and performed _by it said parties of the first part promisee
<br />and agree to sell and convey to said party of the second part by good and su ff is ient
<br />warranty deed the following described real estate in St. Joseph County, State of
<br />Ind isna, v is.: -
<br />Seventy -nine (79.) feet east and west fronting
<br />upon Mishawaka Avenue by one iundrad'twenty (120)
<br />feet north and south taken off of and .from the west
<br />end of lots numbers one hundred twenty (120) and one
<br />hundred twenty -one (121) in Dunn and Horn' s Add it ion to . the Town of R iverPark, now a part - of the -City of o
<br />South Band.
<br />For and in conideration of the sum of Nineteen Hundred ninety-eight
<br />(1998.00) Dollars to ,,be paid as hereinafter set forth. Party of the second part
<br />agrees o buy said real estate .and to pay part i s of - the f irst part, therefore
<br />998.00
<br />(� )
<br />Nineteen hundred ninety-eighti Dbllar� as follows, to -wit:-
<br />Five hundred ($500.00) Dollars in cash at the time. of. the exaction
<br />of this c ont.ract,` the receipt whereof is hereby ack noavleedged, and one hundred ($100. 00
<br />Dollars on the` lst. day of each and every month thereafter until said purchase price
<br />is fully paid. `
<br />Should said party of the second part-, at any time, wish to pay up
<br />this contract in full, or make advance payments thereon, and for the regular payments
<br />as provided for therein, in all cases, said pr c ipal and interest shall be computed
<br />as follows: The principal amount is $1498.00 D llars , the interest shall be calculated
<br />in said sum at seven (7) per cent for 6 mos. dulos
<br />the,- 29th. day of October 1920. The
<br />amount paid on this contract, shall be applied tthe payment of this interest, and the
<br />balance after paying said interest or any cost, as here6n providedm shall be applied'
<br />as a partial paym nt on the principal of this dbt The principal thus remaining shall
<br />be the principal for the ensuing 6 mos. and onhe 29th. day of April 1921s interest
<br />on the new pr inc ipal shall be calculated for-6 at 7 per cent, and from the amount
<br />paid in during said (5 mos, shall first be dedue ed said interest and all costs arxi
<br />charges, and the balance, after paying said -interest or any costs, as herein provided
<br />shall be applied as a partial payment on the pr ne ipal, and the amount remaining
<br />shall be the new principal for tha following 6 mos and so continued from interest
<br />period to interest period, until said debt, with interestm costs, assessments, etc.,
<br />are fully paid, as herein stated.
<br />And the said party of the second part, in further consideration
<br />as aforesaid, agrees t pay all taxers and assessments that may be levied, or assessed,
<br />on or against said real estate after the date ofthis contract, whenever any such
<br />tax or assessment- may be due and payable, and t) keep said premises in good repair and
<br />insured against fire for the benefit of the partlies of the first part, in such insurance
<br />compnies add for such amount as may be required by the parties. of the first part,
<br />together with all attorneys fees and other costs incurred in enforcing this contract for
<br />any"diserpaneyon the part of the said party of he :second part, and on failure to do
<br />so, the said parties of the first part may take out such insurance and make such pay-
<br />ments, -and the sum so paid shall be added to, th principal sum and draw eight per cent
<br />interest from date of payment. And said parties of the first part agree that whenever sa'
<br />party of the second part shall have paid the sum of $1996. 00 Dollars as aforesaid,
<br />axclus ive of interest, taxes, assessments and insurances according to the terms and con
<br />ditions of this contract, and shall have fully kept and performed all other agreements
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