This agreement, made this
day, March 27, 1998, by and between Woods &
Waters Incorporated, a Missouri
corporation, the seller and George
R. and Martha M. Washington the buyer(s), hereinafter
referred to as "you".
LET IT BE KNOWN that for the consideration
hereinafter specified, Woods & Waters Inc.
hereby sells, and agrees to convey to you, the
following described land situated in the County
of Phelps
and State of Missouri to-wit:
CHERRY CREEK PARCEL
83: All of the Southeast Quarter of the
Southwest Quarter of the Southwest Quarter of the
Southwest Quarter, and all that part of the South
Half of the Southeast Quarter of the Southwest
Quarter of the Southwest Quarter of the Southwest
Quarter lying west of the centerline of the
access road thereon all in Section 25, Township
33 North, Range 3 West and consisting of 5.0
acres.
INCLUDING ALL RIGHTS to the water and timber
thereon; all rights to, or a controlling interest
in, the minerals thereon, and right of legal
access, subject to all easements and restrictions
of record.
IN CONSIDERATION WHEREOF, you hereby promise
to pay to Woods & Waters Fifteen
Thousand, NIne Hundred, Ninety and 00/100 Dollars, as follows: Two Hundred
Two and 71/100 Dollars in hand, the receipt of which is hereby
acknowledged, and Two Hundred Two and
71/100 Dollars on
or before the same day of each of the next five
succeeding months together with interest
at NINE per cent per.
Payment shall first be applied to the interest
accrued to the date of payment and the remainder
to the principal. Interest ninety days in arrears
shall be compounded daily. At the end of 180 days
from this date, if you have paid the above
mentioned six installments, we will pass title to
you by Corporation
Warranty Deed in exchange for your promise to
pay the remaining balance of the sale price as
documented by a promissory
note, Deed of
Trust and Quit-Claim
Deed which will be
provided for your signature at that time.
- You agree not to cut or remove marketable
timber (defined as trees with a stump
diameter of greater than eight inches)
from the property without the express
written permission of Woods & Waters
during the time this contract is in
effect. Such permission shall not be
unreasonably denied for on-site
construction.
- You agree not to allow debris to collect
on the property, including but not
limited to, household wastes, derelict
vehicles and unused building materials.
In the event that you do not remove such
debris within a reasonable time, Woods
& Waters has the right to remove and
dispose of said refuse at your expense.
- You agree to contract with a waste
disposal company serving the area
surrounding this property before
establishing a residence here.
- Woods & Waters guarantees and
covenants to defend your right to legal
access to this property, and to maintain
the access roads into this property so as
to keep them passable by passenger car
for the duration of this indebtedness.
- You agree not to construct any buildings
or locate any residence within one
hundred feet of the access road(s) or
within thirty feet of a boundary.
- Woods & Waters grants You permission
to keep whatever pets and livestock you
desire on this property. You, in turn,
agree to responsibly manage such animals
so that they are not allowed to become a
nuisance to neighboring properties.
- You agree to pay all taxes or assessments
hereinafter becoming due and payable
against this land and any improvements
made thereon.
- Woods & Waters guarantees the amount
of your acreage. In the event that a
registered survey finds a discrepancy in
the acreage of your property showing as
much as one tenth of one acre less
acreage than called for in your legal
description, you have three options: A.
We will adjust the dollar amount of your
contract accordingly. B. We will refund
your money and take back your parcel. C.
You may trade to another parcel in
inventory. If you are shown to have more
acreage, you may keep the overage without
additional charge.
In the event that you should become dissatisfied with this
property, for any reason, Woods & Waters hereby grants you
the right to trade your equity in this property, (equity being
defined as the total amount paid as of that date, less interest)
for an equal equity in any other property then offered for sale
by Woods & Waters at the value listed on Woods & Waters
website http://www.ozarkland.com PROVIDED THAT: you are current
in the installment payments and other obligations of this
contract, that the property is clean and in essentially the same
condition as when this contract was made, and that you have not
exercised this right in a previous contract with Woods &
Waters. Should you choose to trade for a property whose value is
less than your equity, you have the option of forfeiting the
overage or trading the overage for equity in an additional
property or properties. Woods & Waters will not refund
equity in cash. You may trade equity in one parcel for
equity in two, but you may not trade equity in two parcels for
equity in one. If you have not personally inspected both
your current parcel and the one you wish to trade to, the
destination parcel or parcels must have been on the market for
at least one week.
On payment of the sums of money and interest
aforesaid, Woods & Waters shall convey this
land to you by a duly acknowledged deed
containing a covenant that Woods & Waters is
well seized of said land at the date thereof, and
a covenant against encumbrances, and warranting
title as of date thereof.
It is expressly understood and agreed that
time is the essence of this contract and that if
you should fail to pay any installment, interest,
taxes, lien or other payment for a period of
thirty days after said payment shall become due
and payable, then the amount theretofore paid by
you shall, at the option of Woods & Waters,
be forfeited to Woods & Waters as liquidated
damages for breach of this contract, and on such
default, it will be lawful and proper for Woods
& Waters, or its assigns, upon twenty days
notice to you, to take possession of the said
premises. Failure at times to exercise this
option shall not constitute a waiver of the right
to exercise it later.
If this contract or reference thereto is of
record, Woods & Waters' affidavit of default
and of delivery of mailing to you during such
default, of notice of termination, shall be
conclusive proof in favor of any subsequent
purchasers, their heirs or assigns, for value of
such default and of the termination of your
rights hereunder, if such facts are not
specifically contradicted by affidavit or other
instrument recorded in the county before
execution of any instrument conveying equitable
or legal title to such purchaser, their heirs or
assigns.
It is mutually agreed that all covenants and
agreements herein contained shall extend to and
be obligatory upon the heirs, executors,
administrators, successors and assigns of the
respective parties.
This contract is offered without regard to
race, religion, sex or national origin.
You have the option to cancel your
contract or agreement by notice to the seller
until midnight of the seventh day following the
signing of this contract.
If you did not receive a Property Report
prepared pursuant to the rules and regulations of
the Office of Interstate Land Sales Registration,
U.S. Department of Housing and Urban Development,
in advance of your signing the contract or
agreement, the contract or agreement of sale may
be canceled at your option for two years from the
date of signing.
IN WITNESS WHEREOF, the said parties have
herewith set their hands and seals. Executed in
duplicate.
__________________________________________Date_______________
George
R. Washington
__________________________________________Date_______________
Martha
M. Washington
for Woods & Waters Incorporated:
By
_____________________________________________________
Neil I. Shelton, President
(corporate seal)
attest:_________________________________________________
Christina M. S. Sweaney, Vice-President
