f. Contract for deed/Habigers - Laserfiche WebLink

o o 2. Payment Schedule: Principal and interest shall be payable as follows: First Payment: The first payment in the amount of $78.00 shall be due on December 1, 2003. Subsequent payments: Subsequent monthly payments in the amount of $78.00 shall be due on the ist day of each succeeding month through and including October 1, 2008. Final Payment: A final irregular payment of $49.49 shall be due on November 1, 2008. An amortization schedule is enclosed herein as Exhibit 1. Method of Payment: Payment must be made by automatic payment through the Repurchaser's bank. Application of Payments: Payments shall be applied first on accrued interest and then on principal. Other Mortgages: The parties acknowledge that they know of the existence of no other mortgages on the Property. Late Payment: Payments received subsequent to the due date shall be subject to a late payment service charge in the amount of $15.00. If the service charge is not paid along with the arrearage from which the service charge arose, then the amount of the service charge shall add to the unpaid principal balance and shall become an amount immediately due, together with interest from the date of default at the rate accruing on the unpaid principal balance, under this Agreement. Prepayment of Principal: Unless otherwise provided in this Agreement, Repurchaser shall have the right to fully or partially prepay this Agreement at any time without penalty. Any partial prepayment shall be applied first to payment of the amounts then due under this Agreement, including unpaid accrued interest, and the balance shall be applied to the principal installments to be paid in the inverse order of their maturity. Partial prepayment shall not postpone the due date of the installments to be paid pursuant to this Agreement or change the amount of such installments. Acceleration of Principal Balance on Sale ("Due on Sale"): If the property is conveyed, then the unpaid principal balance and accrued interest' shall become immediately due and payable. "Conveyance" shall include any transfer except the following: Subordinate Encumbrance: The creation of a lien or encumbrance subordinate to this agreement; o Gift or Devise: A transfer by gift, devise, descent, or by operation of law upon the death of a joint tenant; or o Lease: The grant of any lease hold interest of three years or less not containing an option to purchase.