This section is from the book "The Law Of Land Contracts", by Asher L. Cornelius. Also available from Amazon: Michigan Law Of Land Contracts.
3rd. That the said James C. Walsh and Inez V. Walsh, husband and wife, at the time of the execution and delivery of said deed were the owners in fee simple thereof, they having procured title through the legal grantors and grantees in succession.
4th. That on the 15th day of June, A. D. 1915, while the said James C. Walsh and Inez V. Walsh, were the owners of said lands in fee simple they entered into a certain land contract with Louis F. Breitenwischer and Fannie H. Breitenwischer, defendants herein, of the City of Lansing, County of Ingham and State of Michigan, in which they, the said James
C. Walsh and Inez V. Walsh, agreed to sell to, and the said Louis F Breitenwischer and Fannie H. Breitenwischer agreed to buy said lands for the sum of thirty-five thousand dollars ($35,000) and pay for the same as follows: The sum of eighteen thousand three hundred dollars ($18,300) on the signing and delivery of said contract and the balance as follows: Two thousand dollars ($2,000) thirty days from date of said contract, two thousand dollars ($2,000) sixty days from date of said contract, with interest at six per cent. per annum subject to a mortgage of nine thousand five hundred dollars ($9,500) then held and owned by the North-Western Mutual Life Insurance Company, covering said lands. A copy of said contract being hereunto subjoined and marked Exhibit A.
5th. That on the 12th day of November, A. D. 1915, the said James C. Walsh and Inez V. Walsh, husband and wife, assigned and transferred to your orator said contract. A copy of said assignment being hereunto subjoined and marked Exhibit B.
6th. That in and by the terms of said contract it was expressly stipulated and agreed on the part of Louis F. Breitenwischer and Fannie H. Breitenwischer.
(a) To purchase said lands and to pay therefor the said several sums hereinabove mentioned.
(b) To keep the buildings now on, or that may be placed on said premises, insured in the name of and in the manner and amount and by insurers approved by the said James C. Walsh and Inez V. Walsh.
(c) To enter said premises for taxation in their own name and to pay all taxes and assessments, ordinary and extraordinary, that may for any purpose be levied or assessed on said premises, and,
(d) Not to commit or suffer any other person to commit any waste or damage to said premises or the appurtenances, and that in the event they fail to keep said buildings insured and to pay the taxes against said premises, the said James C. Walsh and Inez V. Walsh were authorized and permitted to cause said insurance to be made and taxes to be paid and the amount thus expended to be and remain a lien on said premises and be added to the amount then unpaid thereon and bear interest at six per cent. per annum.
(e) That all buildings and improvements to remain on said premises as security for the performance of said contract.
(f) To take possession of said premises and remain thereon as long as they shall perform the covenants and agreements in said contract mentioned on their part to be performed, and no longer.
(g) That in case they violate or neglect to fulfill any of said covenants or agreement they shall forfeit all right or claim under said contract and be liable to be removed from said premises in the same manner as is provided by law for the removal of a tenant that holds over premises contrary to the terms of his lease, and notice to quit and forfeiture were expressly waived.
(h) It was also agreed on the part of the said James C. Walsh and Inez V. Walsh that in the event the said Louis F. Breitenwischer and
Fannie H. Breitenwischer shall upon the faithful performance of all of the covenants and agreements covenanted to be done and performed by the said Louis F. Breitenwischer and Fannie H. Breitenwischer, then they should execute and deliver a good and sufficient warranty deed of said premises thereby conveying the title thereof free and clear of all encumbrances, except taxes after the date of said contract and any claims and liens thereon subsequent thereto.
(i) It was further expressly agreed by and under the terms of said contract, that in case of the removal of said Louis F. Breitenwischer and Fannie H. Breitenwischer by reason of any forfeiture or failure on their part to carry out the terms, covenants and agreements set forth in said contract, then said James C. Walsh and Inez V. Walsh were duly authorized to take possession of the lands hereinbefore described, and in said contract described, and retain any and all improvements that may have been made as well as any payments that may have been made as stipulated damages for nonperformance of contract, and that the above named Louis F. Breitenwischer and Fannie H. Breitenwischer shall lose and be debarred from all rights, remedies and actions, both at law and in equity, upon or under said contract.
7th. Your orator further shows unto the court, that under and by virtue of the stipulations set forth and described in said contract, there is now justly due and payable to your orator, as the grantee of James C. Walsh and Inez V. Walsh and assignee of said contract, the just and full sum of seven thousand two hundred dollars ($7,200) of principal with interest thereon at six per cent. from the 15th day of June, A. D. 1915.
8th. That your orator under and by virtue of the terms, covenants and conditions in said contract set forth and described hereby elects to declare said contract forfeited and your orator entitled to the possession thereof.
9th. In consideration of the premises and the statute in such case made and provided your orator prays,
1st. That the said defendants, and each of them, be required to true and perfect answer make to this your orator's bill of complaint, but not on oath, their answer on oath being hereby expressly waived, and,
2nd. That your orator be granted a decree of foreclosure of said contract by reason of the nonperformance on the part of the defendants herein, and,
 
Continue to: