HomeMy WebLinkAbout900598BOOK _ _PR PAGE~ D
__INSTALLMENT SALE AGREEMEN'TI.-~:.c
THIS AGREEMENT made and en'~ered this 25th daf of June, 2004,
by and between PATRICIA E. LOONEY, Box 322, Pinedale, Wy. 82941,
Party of the First Part and hereinafter called the "Seller", and
CHARLES N. RAINES, a single man, of Box 333, LaBar~e, W~;. 83123,
Party of 'the S~cond Part and hereinafter called the "Purchaser"
W I T N E S S E T H:
Seller agrees to sell unto Purchaser and Purchaser a=rees
to buy from Seller the followin~ described real estate in the
County of Lincoln and State of Wyoming, to-wit:
Lots 14 and 18 of' the Viola Subdivision, Phase I, as the
said subdivision appears on the plat and map thereof on
file and of reco~d in 'the office of the County Clerk of
Lincoln Count¢, Wyoming, and
TOGETHER WITH al! buildings, fences and improvements
situate thereon or appurtenant thereto, AND TOGETHER
WITH all wate;: and water rights, ditch and ditch ri=hts,
and reservoir and reservoir rights situate thereon or
appurtenant thereto;
BUT SUBJECT, NEVERTHELESS, TO the provisions of United
States patents, AND SUBJECT FURTHER TO easements and
rights of way of record or in actual use for telephone
transmission [.ines, electric transmIssion lines,
irri~ation ditches and canals, and roads and ways, and
SUBJECT FURTHER TO all ou5standln~ mineral interests°
AND SUBJECT FURTHER TO accrued and accruin9 taxes,
and for said real estate Purchaser shall pay, and Seller shall
accept, Thirty Thousand Dollars ($30,000.00) of which amount
Purchaser has this day paid Four Thousand Dollars ($4,000.00).
receipt whereof by Seller is hereby acknowledged, and the
balance of said purchsse price of $26,000.00 to=ether with
int,[est agqrui~g thereon a.t. the rate of Eight .Per Cent (8~) Per
Annum from and after the 25th day of July, 2004, shall be paid
by 120 .monthly installments, each in the amount Of $315.46,
commencin~ on the 25th day of August, 2004, and continuin~ on the
25th day of each month thereafter succeedinw until said purchase
price and all interest has been fully paid;
Ail of the aforesaid installments shall be made to Seller
at Box 322, Pinedale, Wy. 82941, or such other place as Seller may
hereafter designate;
Seller shall not be obligated to accept any of the foregoin~
installments of the principal sum and interest except at the times
and in the amouDts hereinabove set forth, except however, Seller
a~rees that after the first day of January, 2004, Purchaser may
at the option of Purchaser pay, withcut penalty, the then unpaid
balance of the ~,urchase prxce to~ether with the interest accrued
to date of payment.
THE PARTIES FURTHER AGREE AS FOLLOWS:
1- Possession, ~.ssi~nment, liens, taxes and buildings.
(a) Purchaser may have possession of the above property upon
execution of this agreement, Purchaser has inspected the property
and accepts the property in its present condition;
(b) Purchaser shall not surrender possession of the above
property nor part with possession to any persons whomsoever, nor
shall Purchaser assign or sell this agreement to any person whom-
soever without first having obtained the written consent thereto
of the Seller:
(c) Purchaser shall pay before delinquency all taxes and
assessments on the property comin9 due on or after the first day
of January, 2005;
(d) Purchaser shall not suffer nor permit any liens, other
than liens of taxes, encumbrances and mortgages to accrue or attach
to the above property during the term hereof and in event the same
shall accrue or attach Purchaser shall immediately pay and disso]_ve
the same and upon failure to do so Seller may pay the same and all
sums so expended by Seller in the satisfaction, dissolution and
dischar=e thereof shall accrue interest at the rate of EIGHTEEN
PER CENT (18%) PER ANNUM from the time of payment and the same shall
be immediately due and payable by Purchaser unto Seller;
(e) If Purchaser fails or neglects to pay any xnstallment
of taxes or assessments, when due, Seller shall have the right to
make such payment and to add the amount thereof, to~ether with
interest at EIGHTEEN PER CENT (18~) PER ANNUM to the obligation
of Purchaser hereunder;
2- Delivery of warranty deed.
Upon payment of the purchase price and all interest, and provided
that Purchaser has otherwise performed as re~uxred of Purchaser
herein, Seller shall convey the above property unto Charles N.
Raines:, a single man, by means of statutory form of warranty deed;
3- Taxes and assessments.
All taxes assessed and levied upon the property in the year
2004 and prior thereto shall be paid by Seller, and Purchaser
shall pay all of the 2005 taxes;
4- Timely perfor:nance - default.
Time is of ~:he essence of this agreement and Purchaser shall
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make all payments promptly as herein provided; Purchaser expressly
understands and a~rees that if Purchaser shall fail to make any
of the aforesaid payments to Seller, in the amount, manner and
within the time herein provided, or should Purchaser fail to
perform any of the other terms and conditions hereof, in the manner
and within the time herein provided, and shall fail to make said
delinquent payments and otherwise remedy the default of other
terms and condit.[ons within thirty (30) days after written notice
thereof is depoSllted in the United States mail, postage prepaid,
and addressed to" Purchaser at the followin= address of the Purchaser,
Charles N. Raines
Post Office Box 333
LaBor,e, I~y.
83123
the Seller may at the option of Seller declare this contract ended,
cancelled and of no further force and effect, and Seller may file
for record in the office of the County Clerk a declaration of
forfeiture (setting' forth the facts of such failure on the part
of Purchaser) an~ the same shall be sufficient to canceli all
obligation hereunder on the part of Seller and shall fully reinvest
Seller with all rights, title and interest hereby agreed to be sold,
conveyed or delivered and Purchaser shall forfeit all risht, title
and interest in and to the above property including any and all
improvements and Seller shall have the right to re-enter and take
possession, without demand, of the abovezdescribed real property
and all improvements thereon, includin= those erected or placed
thereon by Purchaser and in event of such repossession Seller may
keep said real property as Seller's own and absolute property bein~
hereby released from all obligation at law and in e%uity to convey
said property, and in such case all monies forfeited as described
above shall be considered as rental for said property and as
liquidated damages for failure on the part of Purchaser to perform
and comply with the terms of this agreement;
5- Construction.
Ail words used in this agreement including the words "Purchaser"
and "Seller" shall De construed to include the plural as well as
the singular number and words used herein ~n the present tense shall
include the future as well as the present and words used in the
masculine gender shall incude the feminine and neuter;
6- Effect of waiver.
The waiver of Seller of any covenant, condition or a~reement
herein contained shall, not vitiate the same and the terms, conditions,
covenants and agreements set forth herein shall apply, inure to
and bind the heirs, executors, administrators and assisns of the
respective parties hereto;
7- Persons bound. ~
Ail provisions hereof shall extend t@. inure to the benefit
of and be bindin~ upon the respective parties and their heirs,
devisees, personal representatives and assigns;
8-' Litigation - 'allowance of attorne['s fees to prevailin~ party.
' If any action is brought to enforce this agreement or any
provision hereof, to rescind the same, to collect damages for an
alleged breach hereof, or for declaratory judgment hereunder, the
prevailing part~ in such action, whether plaintiff or defendant,
shall be ent'itled tD an allowance for reasonable attorney fees, in
addition to costs of suit;
9- Interest on past-due installments.
Any installment of the principal sum or accrued interest, or
both, not paid when due shall accrue interest at the rate of
EIGHTEEN PER CENT ('18~) 'PER ANNUM from the due date un~til paid;
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IN WITNESS WHEREOF, we hereunto set our hands the day
and year first above written.
PATRICIA E. LOONEY, Seller
CHARLES N. RAINES, Purchaser
STATE OF WYOMING )
)
COUNTY OF SUBLETq~E )
sS
The foregoing instrument was acknowledged before me by
Patricia E. Looney, this 25th day of June, 2004.
Witness my hand and official seal.
My commission
explres:~/.~/~9~
Notary Pu~l ic
STATE OF WYOMING )
ss
COUNTY OF LINCOLN
The foregoing instrument was acknowled~ed before me by
Charles n. Raines, this ~ ~ day of ~. , 2004.
Witness my hand and official seal.
Notary Publi
My Commission
expires:
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