3/7/1936 · DEED · book 26 page 285 doc 36@26/285

285 THIS AGREEMENT made and concluded this second day of March, A. D. 1936, by and between HAZARD H. BURDICK, of the Town of Charlestown, in the County of Washington and State of Rhode Island aforesaid, hereinafter called the "Seller", and GUSTAV OSTERHUS, of No. 45 Christopher Street, New York City, in the County and State of New York, hereinafter called the "Purchaser", WITNESSETH: That the said Seller, in consideration of One Hundred ($100.00) Dollars to him paid by the said Purchaser, the receipt whereof is hereby acknowledged, and in further consideration of the promises of the said Purchaser hereinafter contained, doth hereby promise and agree to and with the said Purchaser, that, immediately upon the faithful performance of the said agreement hereinafter made, he, the said Seller will make and deliver to the said Purchaser a good and sufficient Warranty Deed, containing the usual covenants in such deeds contained, of all that tract of land situed, lying and being at Quonochontaug, East Beach, in the said Town of Charlestown, Rhode Island, bounded and described as follows:— Beginning at a point on the easterly side of the highway leading from the Post Road to Quonochontaug, East Beach, and thence said Beach, a point being the southeasterly corner of the parcel of land hereinafter described and the southeasterly corner of Lot no. 65 as shown and delineated on a plat entitled, "Revised Plat of Cottages Site, Pier No. 1, Quonochontaug, East Beach, in the Town of North Kingstown, Rhode Island", Scale 1 inch equals 60 Pt. July 29, 1926 Ross L. Boyd, Engineer, the said parcel being a rectangle of 250 feet by 250 feet, the said point being, in the corner to the Northwest corner of Lot no. 17 as shown and delineated on a said plat, thence northerly along the easterly line of said northerly boundary, thence easterly along the line of No. 17 a distance of 165 feet, more or less, to the shore of the Charlestown Point Beach, thence southerly along said shore to a point being the southeasterly corner of a rectangle of 250 feet, more or less, to the line of the stone wall marking the northerly boundary of land of said Hazard H. Burdick; thence westerly along said stone wall at a right angle to a distance of 125 feet, more or less, to the line of the highway, thence southerly along the easterly side of the highway, thence westerly a distance of 125 feet, more or less, to a point and place of beginning. Bounded westerly by the highway leading from the Post Road to Quonochontaug, East Beach, southerly by lands of now or formerly owned by Hazard H. Burdick, easterly by Charlestown Point Beach, and northerly by lands of David Moulton. Reference is hereby made and made a part of this agreement to the premises hereinafter described, titled "Land at Quonochontaug, East Beach, Charlestown, R. I." conveyed by Hazard H. Burdick to Gustav Osterhus, Scale 1 inch equals 60 Ft. dated July 29, 1926, and a copy of the said plat is to be filed in the Office of the Town Clerk of Town of Charlestown. In consideration whereof, the said Purchaser does hereby promise and agree to and with the said Seller that he will pay to said Seller the further sum of Twenty nine hundred ($2900.00) Dollars, in addition to the payment already made, being the balance of the purchase money hereby agreed upon for the said tract of land, in manner and form as follows:— By payments of Fifty ($50.00) Dollars each on the first business day of each successive month commencing April 1, 1936, and thereafter until said sum of $2900.00 shall be paid in full, without interest thereon. Said Purchaser may anticipate the payment of any part or all of the unpaid balance of said purchase price, at any time prior to the due day thereof, and upon payment of said balance in full, said Purchaser shall be entitled to receive from the form of Warranty Deed hereinafter referred to, free and clear of any encumbrances or restrictions. Upon the execution and delivery of this agreement, the Purchaser shall be entitled to immediate possession of the premises herringbone described, and may hold and keep such possession as long as he shall properly perform the terms and conditions of this agreement on his part to be performed. Until such time as said Purchaser shall be entitled to receive a deed of said premises, all taxes and other similar assessments thereon heretofore assessed or payable shall be promptly paid by the Seller. If any of the payments herein referred to be made by the Purchaser, shall remain overdue for more than thirty (30) days after the due date thereof, the entire unpaid balance of said purchase price shall, at the option of the Seller, become immediately due and payable upon demand, and in the event the Purchaser shall fail to pay such balance upon such demand, he shall forfeit all claims to the premises herein described, and