THIS MEMORANDUM WITNESSETH, That Arthur. R. Jones hereby agrees to Sell, and William L. Stewart agrees to PURCHASE, at the price of three thousand dollars, the following described real estate, situated in Cook County, Illinois, lot 7, block 2, in E. A. Smith's subdivision of the northeast quarter of the northwest quarter of section 18, township 37 north, range 14, east of the third principal meridian in the City of Chicago. Subject to (1) existing leases, expiring May 1, 1909, the purchasing to be entitled to the rents, if any, from the time of delivery of Deed;

(2) all taxes and assessments levied after the year 1908,

(3) any unpaid special taxes or assessments, levied for improvements not yet made; also subject to first mortgage for four thousand dollars in favor of John G. Walker, due August 13, 1911, and bearing interest at the rate of six percent per annum.

Said purchaser has paid five hundred dollars, as earnest money, to be applied on said purchase when consummated, and agrees to pay, within five days after the title has been examined and found good, the further sum of five hundred dollars, at the office of W. E. Smith, Chicago, provided a good and sufficient Warranty Deed, conveying to said purchaser a good title to said premises with waiver and conveyance of any and all estates of homestead therein and all rights of dower in inchoate or otherwise (subject as aforesaid) shall then be ready for delivery. The balance to be paid as follows: One thousand dollars, July 1, 1908, and one thousand dollars, July 1, 1910, with interest at the rate of six per cent, per annum, payable semiannually, to be secured by notes and mortgage, or trust deed, of even date herewith, on said premises, in the form ordinarily used. A certificate of title issued by the registrar of titles of Cook County or a complete merchantable abstract of title, or a merchantable copy, brought down to date, or a merchantable title guaranty policy, to be furnished within a reasonable time. In case the title, upon examination, is found materially defective, within ten days after said abstract is furnished, then, unless the material defects are cured within sixty days after written notice thereof, the said earnest money shall be refunded and this contract is to become inoperative.

Should said purchaser fail to perform this contract promptly on his part, at the time and in the manner therein specified the earnest money paid as above shall, at the option of the vendor, be forfeited as liquidated, including commissions payable by vendor, and this contract shall be and become null and void. This is of the essence of this contract, and of all the conditions thereof.

This contract and the said earnest money shall be held by W. E. Smith for the mutual benefit of the parties hereto.

In testimony whereof, said parties hereto set their hands this 20th day of June, A. D., 1908.

Arthur R. Jones, William L. Stewart.