HomeMy WebLinkAboutOrdinances Book 10, Page 452, No Ordinance NumberPay*e 452
ATI ORDINANCE AUTHOIiIZITTG TiiE !'A'COh A?i1) CPit `10
EXECUTE AND DELIS/ER FOR THE CITY
OF PADUCA'i A CWMl ACT FOR 'CITE
i SALE TO MINA G. HOLIITES OF PROPERTY LOCATED AT 719 i+iADISOI! STREET,
it AAD PRESCRIBING THE 7ufi,.S AND CONDI`PIC)ZT UNDLh ','VTIICH SAID
iPROPERTY S=TALL BE SOLD
BE IT ORDAINED BY THE BOARD OF CO,drLISSIONERS 0'r' THE
CITY OF PADUCAH, KEtq'pUCKY;
SECTION 1.
j
i
That the City of Paducah accept the offer of Lina G.
Iolmes in t e sum of `il000.00 for the purchase of the property
located at 719 P,adison Street in the City of Paducah, Kentucky, j
and the Ir;ayor and City Clerk are hereby authorized „nd empowered
to execute for and on be half of the City of Paducah a contract
I'I for the sal e of the above described real estate to ;,ina G. Hohies,
said contract to provide for payment of the su.m of ;100.00 in cash;
%;2J0.00 on or before April 30th, 1941, and the remainder of the
I'
Purchase price in installments of ,,,20.00 per month, toDether with
interest upon the unpaid balances, payable monthly at the rate of
6j per annum; and upon the payment of one-half of said purchase
Price, that the City of Paducah execute and deliver to the said
Mina G. Holmes a deed of conveyance with Special Warranty,
retainin in said deed a lien to secure the balance of the purchase
price. It shall be further provided in said contract that in the
event of the default to the payment of any one of said installments
within 90 days after the same becomes, due, the amounts 'theretofore
paid shall be applied as rent on said property, the ri,hts of the
said : ina G. Holmes under said contract shall be forfeited by her i
and the City may re-enter and take possession.
SECTION 2.
This ordinance shall be in full force and effect i'rozp
and after its adoption.
I
is;ayor t_.�
Passed by the _'Pard of Commissioners, Feb. 4th, 1941
Recorded by Rudy Stewart, City C1ezk , Feb. 5th, 1941.!'