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Here find There 1 <4 # In Business • Real Estate Facts By Yvonne Beer, ' Executive Office McHenry County Board of Realtors With interest rates edging upward once again, home buyers and sellers alike are once again looking to alternative sources of home financing. One frequently used mechanism is the con­ tract for deed, or land contract. In a contract sale, the seller continues to hold legal title to the property and makes payments on the underlying mortgage. A set of terms are agreed upon between the buyer and seller, and a contract is signed. The buyer generally makes a down payment on the property and makes his monthly payments directly to the seller. Legal title to the property passes to the buyer only when the contract terms are fulfilled. The McHenry County Board of Realtors cautions that before executing a contract sale, the potential limitations included in the seller's mortgage should be thoroughly examined. "Many mortgages include a 'due-on-sale' clause in paragraph 17 of the document," explained Yvonne Beer, executive officer of the McHenry County Board of Realtors. "This allows lenders to demand immediate payment of the balance of the loan if the borrower sells or 'transfers' any of his interest in the property to someone else," she said. Beer said that the 'due-on-sale' clause also permits lenders to raise the interest rate on the loan to any level they desire as the price for permitting an assumption of the mortgage by another buyer. A contract sale, a though technically not a sale at all because legal title has not changed hands, has been considered a bona fide sale by many Tenders and is therefore often subject to enforcement of the 'due-on-sale' provision. Some sellers seeking a quick sale have encouraged buyers to purchase their property on contract without the lender's knowledge or consent. Such transactions when discovered have, in some instances, led to foreclosures and financial losses as well as court contests with unpredictable results. \ To date, some 40 cases have been litigated in 22 different states, with more cropping up monthly. No clear-cut pattern of en­ forcement has emerged, as one state rules one way and another the opposite. Con­ tradictory decisions have even been handed down within the same state. In order to facilitate real estate transactions under present market conditions, the McHenry County Board of Realtors is urging com­ promise on the part of len­ ders, buyers and sellers alike. Lenders would be better off to waive some prohibitions against assumptions than to forego a sale altogether, according to Ms. Beer. "Financial institutions would benefit if they could renegotiate existing loans at a higher yield but less than current market rates, because it would be a wind­ fall they wouldn't otherwise have," she explained. Through negotiation and compromise, lenders. homeowners and real estate brokers can work in harm­ ony for their mutual benefit and avoid the bitterness and loss which occurs when the 'due-on-sale' clause is en­ forced and lengthy court battles ensue. In the meantime, sellers and buyers alike are urged to exercise caution before making use of contract sales or other alternative finan­ cing instruments. While these can prove to be ex­ tremely helpful in a tight money market, without the proper precautions, they can also spell disaster. Ambulance Service In Ninth Year TEK Ambulance company of McHenry recently ob­ served its eighth year of serving the McHenry public. Its owner, Tom Krause, is a triplet. Born and raised in DesPlaines, the three joined the U.S. Navy in 1962. Tom became a hospital corp- sman, Dick a yeoman and Harry a fire control technician. CLAY DEMONSTRATION "The Worth of Clay", a demonstration of the slab clay construction by Roy and Nancy Lyons, noted potters and teachers of the clay artform, will be given Friday, Oct. 17, at 8 p.m. at McHenry city hall. Refresh­ ments will be served. Bethel Study Program Jay Hansen, left, and Phyllis Mueller meet with originator of. the program, Harley Swiggums. Nativity Lutheran church, 3506 E.Wonder Lake road, Wonder Lake, will begin the congregational phase of the Bethel program Tuesday, Oct. 28, at 7:30. Sixty par­ ticipants are enrolled. The Bethel program is an adult Bible study course which covers in-depth study of the Old and New Testaments. The first year of old Testament study consists of three seven-week sessions, the first of which begins Oct. 28. Although this first session is already filled, openings are available for another beginning session in January. To kick off the beginning of the program, enrolled participants attended a pot- luck dinner Sunday, Oct. 7. Prospective students were introduced to the five teachers who will be in­ structing them, as well as the material they will soon be studying. The five teachers who have completed two years of study in order to qualify them to instruct the Bethel program are Allen Boelter, Charlie Jacobson, Betty Gabel, Jay Hansen and Phyllis Mueller. Persons interested in this program should contact Pastor Roger Olson, Nativity Lutheran church, 653-3832. lVt 1 2 % Dumplings c flour t salt t baking powder c milk Only the Newspaper You, too, can train your dog to "go fetch." It's worth the trouble, for the interesting things you read make you a more conversant and interesting parson. The informed reader is the newspaper reader. * * • * Humor is a rare gift. If you can laugh at the world and at yourself, you're lucky. OCTOBER SPECIAL! ON ALL 15%OFF PERSONALIZED Christmas Cards and Stationery THRU. OCT. 31 ONLY This year send holi­ day greetings on personalized Christ­ mas cards and sta­ tionery. Come in and see our fine selection. 21 ALBUMS LARGEST SELECTION IN THIS AREA! McH«nry Printing Services County Salute To 4-H RECIPE By Sarah Aaoe Sheridan Here is an easily pre­ pared recipe for th^ Univer­ sally appealing meat- chicken. It's also an excellent one-dish meal in these days of higher meat prices. Chicken and Dumplings 5 lbs. chicken 1/8 t pepper 2 t salt Few stalks of celery Cut chicken in pieces and cover with boiling water. Add celery. Reduce heat and cook slowly until tender, about 2 to 2Vi hours. Add salt after 45 minutes of cook­ ing. Let stand until fat col­ lects on top. Remove most of fat with a spoon. Take out chicken and remove skin and bones. Heat stock to boiling point. Add dumplings. Sift flour, salt and baking powder together. Add milk gradually. Beat until smooth. Drop into hot stock by table­ spoons. Cover closely. Cook for 15 minutes. Spoon dumplings and remaining liquid over chicken which has been arranged on a serving platter. The chance to investigate, to experiment, to try and fail-that's the opportunity 4- H provides boys and girls. Mrs. Grace Vyduna said last week during a special lun­ cheon honoring all 4-H members in McHenry county. The luncheon provided a setting for Mrs. Vyduna, mother of two daughters honored with 4-H's most prestigious award, to evaluate how daughters Joy and Judy each benefited from nearly a decade of 4-H project activity. Joy earned 4-H club Congress honors a few years ago. Judy, sophomore at the University of Illinois, majoring in art education, will be a delegate this year. Sue Malenius, McHenry high school student, and Diane Heinrich, University of Illinois freshman, are also club Congress delegates and will attend the week-long convocation of outstanding 4- H members in late November and early December. Also honored at the annual luncheon were two 4-H members who had outstanding dairy records- Barry Nichols, Hebron, and Linda Borhardt, Huntley. They were guests at the World Dairy Expo in early October. Mrs. Vyduna said she believes 4-H helps young people develop "a sense of direction through in­ vestigating, trying and sometimes failing". She said in her experience as a club leader she believes involving parents is vital to the suc­ cess of a youngster's par­ ticipation. She observes her club members' interests and helps with their curiosity and "I point them in that direction to encourage them," she explained. "I urge each member to take at least two projects as they begin 4-H when they a^ 9 or 10 so they will have two chances to investigate." McHenry county has 1,200 4-H members and in' 1980-81 will have 40 4-H clubs- two new ones have been organized in the Harvard area. Miss Heberer of the Ex­ tension service said the key to helping young people start in a 4-H project is finding leaders. "Good leaders can organize a club and provide a place for young people to acquire a project, develop leadership and speaking skills and learn organizational talents through club activity." She said when people call the Extension office to ask where their boy or girl can join a club, she gives them the names of clubs in that community, of clubs of that person's special interest but she also explains they can enhance the program by organizing a club in their neighborhood. Special interest clubs include projects for dogs, horses and arts and crafts. Asked about interest in the county fair, Miss Heberer answered: "Project showing is always a highlight. Youngsters like to see how their friends from around the county, acquired through 4-H, are doing in projects and other 4-H related ac­ tivities." Charles Weingart, president of the McHenry County Fair association, and Larry Harris, Farm Bureau manager, were special guests at this annual salute to 4-H. • • • • The finest sermons are seen, not heard; they live in the lives of men and women. PAGE 17 • PLA1NDEALER • FRIDAY. OCTOBER 17,1MQ m Orchids sometimes grow in large masses with stems 12 feet high. SEE . e • THE ONLY CONDITIONER THAT REQUIRES NO ELECTRICITY WATER CONDITIONING (DIV. OF HUEMANN WATER INT., INC.) THE NEW, MODERN KINETICO WATER CMMTNMM SYSTEM •NO ELECTRICITY 4ETERU WATER •IT'S METERED SOFT WATER 385-3093 3C07 CHAPEL Ml ROAD MCHENRY, ILL. HIAWATHA DANCERS AT FLOWERWOOD .IT . ̂ 4 Ihe Big Timber and Kwo-N*-$h« Indian Dancer*, formally "Hiawatha Indian Dancers" of Elgin, will perform at 2:30 p.m., Sunday, October 19, at Flowerwood, Routes 14 and 176 in Crystal Lake. Admission is free. The annual appearance of the tamed Hiawatha Dancers per forming the "Song of Hiawatha" is an autumn tradition at Flowerwood. The group of Indian doncers make few appearan­ ces outside their home grounds during the year. Flowerwood. affer nine years, has become one of the highlights of the season for the group. Costumes of many tribes are worn by the dancers and a representative number of dances are performed in the open surrounded by decorations of the season. The Indian dancers are well-equipped to present a colorful and interesting program of traditional dance and drama. Twenty to twenty-five authentically costumed performers will demonstrate typical American Indian dances taught them by the late Carl "par" Parlasca, producer and narrator of the famed "Song of Hiowatha Pageant," which had been a summer tradition for 53 years in the area, until its close in the summer of 1979. Mr. Parlasca died in February of this year at the oge of 97. This colorful group of dancers represent second and third generation performers. Each has. in addition to dancing, made a study of the American Indian. Many make annual trips to In­ dian reservations to further their knowledge of the native Americans. The presentation at Flowerwood will give audience members an opportunity to examine the meticulous work on the authentic costumes. Members of the dance group are always ready to answer any questions about the group or their costumes and dances. Everyone is welcome at this annual presentation. Be sure to bring your camera. Flowerwood's In­ dian Summer display has been a perfect setting for the group's presentation for many years. The group of young people ore re-organizing with the purpose of promoting and perpetuating American Indian culture and heritage through dance, ceremony, costume, craft and lore. For more information about the group's activities, call 312-088-4463. odv 4 Days Only! Starts Thurs. 16th Ends Sun. 19th OVER 3,000 NEW JACKETS & VESTS CLOSE-OUT PRICES • HUGE INVENTORY • NEW STYLES & COLORS 3909 W. 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Noon-5:00 CRYSTAL LAKE On Northwest Hw 455-6240 366 VIRGINIA ST. ry„ irte. 14 at McHenry Ave. next to Armanettis' Also at 401 Palatine Road, Palatine 312W174S0