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R92-147 AUTHORIZING FINAL CONVEYANCE OF HOMESTEAD PROPERTY
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R92-147 AUTHORIZING FINAL CONVEYANCE OF HOMESTEAD PROPERTY
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7/20/2016 11:05:28 AM
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Resolution/Ordinance
Res Ord Num
R92-147
Res Ord Title
AUTHORIZING FINAL CONVEYANCE OF HOMESTEAD PROPERTY
Approved Date
9/21/1992
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• � t . <br /> ti <br /> the purpose of obtaining funds to defray the costs and expenses <br /> of causing the premises to be in substantial compliance with <br /> the Basic Property Maintenance Code hereinabove described. The <br /> � occurrence of any event of default as defined in the loan docu- <br /> ments, or, a breach of covenant or agreement by Buyer in per- <br /> formance of the terms of said loan documents, including but not <br /> limited to, the promissory note, or other documents signed by <br /> Buyer as borrower, shall also 3�e considered to be a default <br /> under the terms of this Agreement for Deed and a failure to time- <br /> ly perform the covenants and agreements herein required of Buyer. <br /> Upon such default or failure to perform by Buyer, Seller may <br /> take such action as it desires to terminate, cancel or forfeit <br /> this contract pursuant to the terms hereof. Buyer shall not be <br /> entitled to any deed of conveyance from Seller until such time <br /> as the loan documents have been completely fulfilled and any <br /> loan, as herein described, repaid in full. <br /> 17. Time of essence; sale or assiqnment by Buyer. It is <br /> further mutually agreed that time is of the essence of this <br /> Agreement. Neither the l�egal o.r equitable interest of Buyer, <br /> . <br /> in this Agreement, shall be assigned, sold or transferred. If <br /> Buyer attempts to convey, transfer or assign any right, title <br /> or interest, legal or equitable, in the premises described above, <br /> in whole or in part, in any manner or form, including as secur- <br /> ity, or if an Agreement or Contract be entered into for such <br /> purpose without immediate transfer of said legal or equitable <br /> -6- <br />
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