The evening herald. (Klamath Falls, Or.) 1906-1942, 1917-01-02

earning Elore money for him ,cwar
the reduction OF hts debt.
! 1t is as If the purchaser Of fsrr
placed his money in savings bank IL
stead of handing il 10 the seller. mai
ing fresh deposits in small amount
over a long term Of years. and allow
ing the interest 10 compound. unit
payments and inter~s, together elua
the amount Of the debt
Meanwhile he has full possession o
the land and is making II pay for iisei
and for his living. The thought OF hs,
ing his interest charges working da!
and night for him instead OF asains
him will be new and delightful TO mos
land buyers. Every banker knows th'
I irresistible power Of accumuiating in
! terest. Heretofore il has been tbs
banker or the MORTGAGE Who has hx1
the benefit OF that accumulation. Tn
der the Mott land purchase plan thai
tremendous power is now applied tc
Tie tenefit Of the mort gagor-the pur
chaser of the land.
Another factor Of immense import is
this: Under the Mott land purchase
plan. the small purchaser gets his lan'l
a. somewhere near the Wholesale
prce.
Applying these generalities to q con.
crete illustration. let rs take the e1.
anrle OF tract OF land OF 10000 acres
~h!ch will soon BE- offered to settlers
under this plan. The Arst item l. the
surrey Of the land by qualified and un-
rrcid0iced experts Of Acknowledged
reputation. and BY the University Of
California. These experts analyze the
soil. report on the facilities for trans
pcrt,,ion. the accessibility to markets.
the amplitude OF the water supply. etc
Their report shows definitely what the
productive power Of each acre is, and
consequently the return in money that
is csrain under proper cultivation.
,::o;h,ns is left to chance No room is
Ief, Fer Misrepresentation or exagxera-
ticn. The purchaser knows by the tes-
tirnony OF Acknowledged and unbiased
experts exactly what income the land
viii bring
The land is sold on the following
t"rrs: A first payment Of 20 per cent.
and no more payments upon the prm.
tipsl for five years. al which time an
o,her payment OF 10 per cent is made.
I his FIVE year period. during which no
ras-uents on the principal are re-
en;rNd. gives the settler ample time to
ret lis land into running order and TO
lay u, some money.
Tne next payment is three years
thereafter: that is. the eighth wear
after the date Of purchase: a, which
time aro'her 10 per cent is paid.
Two .ears thereafter, or ten years
after cate Of purchase. a final payment
OF 10 per cent is made. Al this time
TIE purchaser has thus paid one-half
the fiji purchase price. and under the
Mott land purchase plan. that is all he /.
ever does pay on the principal. He !
TO pay interest at s per cent I
urCn tie unpaid balance for a period |
Of Twelve years. at the end OF which !
'in'e. twenty-five years from the time |
of Purchase. his mortgage is cancelled.
although his payments on account of
principal are. as stated. only 80 per
rer, Of the purchase price.
tbs will strike most men. familiar
with The usual land selling methods. as
De.inS TOO good to be true, but the ex.
['''1Ation is simplicity itself. Through.
~ the whole twenty-five years The
"n"y paid in principal and interest
,as been working for the purchaser.
md the accumulation will have reach.
ID the total amount OF the purchase
'rice- Financiers may inquire where
he seller comes in under this plan
J nat Is not question which interestA
he purchaser. So far as be is con.
'erned the facts are exactly as stated
'bove. and the performance Of the
contract with him is guaranteed and
protected.
As a matter OF fact. however. the
Ian does take good care OF the seller.
rho receives the full Wholesale value
4 his land with reasonable intere.,
4 all delayed payments. He even
cts little more than he would un-
er existing conditions. because be is
aved the usual heavy costs. II
So far as the purchaser is concerned d
e gets the land At close TO the whole o
ale price. pays nothing for brokerage c
for any other expense except the /,
ost OF making out papers: has tveat,- 9
no years to pay for the land. With a
mple time between paymenss, as6. =
naiiy. never pays more than one-half =,
he purchase price. A.
The plan appear 70 unbs,i<yak,, n
oerai from The s,andsolai a the pus. u