This Agreement, made and entered into, in duplicate, this tenth day of June, 1905, between James A. Garfield, the party of the first part hereto, and Alfred A. Spinks, the party of the second part;
Witnesseth : That the said party of the first part in consideration of the covenants and agreements on the part of the party of the second part hereinafter contained, agrees to sell and convey unto the said party of the second part, and said party of the second part agrees to buy, all those certain lots or parcels of land, situate in the City of Los Angeles, County of Los Angeles, State of California, bounded and particularly described as follows, to-wit: Lots Numbers Five (5) and Six (6), in Block 21 of the West Adams Tract, as per map recorded in the office of the County Recorder of the County of Los Angeles, State of California, in Book 2, page 53 et seq., of Maps, Records of said County, for the sum of Three Thousand Dollars ($3,000.00) gold coin of the United States, and said party of the second part agrees, in consideration of the premises, to pay to the said party of the first part, in the City of Los Angeles, State of California, the said sum of Three Thousand Dollars, as follows:
Five Hundred Dollars ($500.00) cash on the signing and delivery of these presents, the receipt whereof is hereby acknowledged, ana the balance, or sum of Fifteen Hundred Dollars ($1500.00) on or before the tenth day of October, 1906, and One Thousand Dollars ($1000.00) on or before the tenth day of December, 1907; all deferred payments to bear interest at the rate of six per cent per annum, payable half yearly.
Said party of the second part agrees to pay all taxes and assessments levied or assessed against the said property after the date hereof before the same become delinquent, and upon failure so to do the party of the first part shall have the right to pay the same, with whatever costs and percentages that may be added, and the amount so paid with interest thereon, from the date of payment until repaid, shall be secured hereby, and shall be repaid by said party of the second part to said party of the first part on demand.
It is further agreed that if the party of the second part shall fail or make default in any of the payments by said party of the second part herein promised to be paid, as the same mature or become due, or of any installment of the interest, or shall fail to pay said taxes or assessments as in this contract provided, then the whole sums in this contract to be paid shall become immediately due and payable at the option of the party of the first part, and suit may be commenced by the said party of the first part to foreclose this contract, or to enforce the payment of said sum, or for the foreclosure of this contract and sale of the lands herein described.
Said party of the second part is to have immediate possession of the said land and may continue in such possession so long as he performs and observes this contract; and upon failure to keep any of the covenants and agreements herein contained, the right of said second party to such possession shall immediately cease.
As soon as the party of the second part shall have made said payments, including taxes and assessments, as aforesaid, if made within the time and manner aforesaid, said party of the first part shall, and does hereby agree to, convey said premises by a deed of bargain and sale to the said party of the second part, and to furnish a certificate of title, showing his title to said lands to be good, and free of incumbrances.
This sale is made subject to the following conditions, and the said deed, to be made pursuant to this contract, shall contain the following clauses, namely:
"Provided, however, that this conveyance is made and accepted upon each of the following conditions, which shall apply to and be binding upon the grantee, his heirs, devisees, executors, administrators and assigns, namely: That said premises shall be used for residence purposes only; that no cottage, apartment house, double house, flat, lodging house, hotel, nor any building or structure whatever other than a first-class private residence at least two stories in height, with the customary out-buildings, including a private stable, shall be erected, placed or permitted on said premises, or any part thereof; that such residence shall cost and be fairly worth not less than Two Thousand Dollars, and shall be located not less than 30 feet from the front line of said premises, and shall face the front line of said premises, namely, on Esmeralda Street; that no out-building or private stable shall be erected, placed or permitted upon said premises at a distance of more than thirty feet from the rear line of said premises, nor until such a residence shall have been erected on said premises.
"Provided, that as to the grantor herein, the breach of any of the foregoing conditions shall cause said premises to revert to the said grantor, his heirs and assigns, each of whom respectively shall have the right of immediate re-entry upon said premises in the event of any such breach; and as to the owner, and the heirs, devisees, executors, administrators or assigns of any owner, of any other lot or lots in said West Adams tract adjoining the above described premises, the above mentioned conditions shall operate as covenants running with the land, for the benefit of all such adjoining lots and owners of such adjoining lots in said tract, their heirs, devisees, executors, administrators or assigns, and the breach of any such covenant, or the continuance of any such breach may be enjoined, abated or remedied by appropriate proceedings by any or either of such owners, their heirs devisees, executors, administrators or assigns.
"Provided, also, that the breach of either of the foregoing conditions, or any re-entry by reason of such breach, shall not defeat or render invalid the lien of any mortgage or deed of trust made in good faith, for value, as to said land, and any such residence, out-building or private stable located as above provided, or any part thereof; provided, however, that the breach of either of said conditions or the continuance of any such breach may be enjoined, abated or remedied by appropriate proceedings, and provided also, that each of the foregoing conditions shall remain at all times in full force and effect as against any owner of said premises, or any part thereof, by reason of any breach thereof by any such owner, whether such ownership is acquired by purchase, foreclosure, devise inheritance or in any other manner.
"Provided, that all and each of the restrictions, conditions and covenants herein contained shall in all respects terminate and end, and be of no further effect, either legal or equitable, either on any property in said West Adams tract or on the parties hereto, their heirs, successors, devisees, executors, administrators or assigns, on and after January 1, A. D. 1920."
Time is hereby made of the essence of this contract.
In Witness Whereof, the said parties hereto have hereunto set their hands and seals the day and year first above written.
James A. Garfield, (Seal) Alfred A. Spinks. (Seal)