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S. Ta pro~ptly ps?y each and every installment hereunder
~s the aa?ae becoaes du~, tisie of payaents being of the essence,
6. To k~rp and ~ainta~n, thraughout the life of this
Agreetaent, a policy of fire and exterided coverage i.nsurance upon
t~~bove described propert y 3n the mini.mura aaaaunt of $9, 000. 00.
Such policy to name as loss payees the parties of the first part
and ~emorandu~ certificate~ of such insurance to be ~uYnished
the paxties of the first pazt ~ach and every year throughout the
life of this Agreement.
IV+DW, if the parties of the ~ecand paxt sha].1 malce the
payments and perform the covenants hereinbefore mentioned on
their part to-be performed, then the parties of the first part
will forthwith tender a good and sufficient deed with documentar
stamps ~?ffixed thereto, in a proper amount, to ~he said parties
of the second pa?rt.
IN THE EVENT OF FAILURE OF the said parties of the
second part to make any of the paym~nts, or any part thereof,
promptly on the dates specified, or fail to perform any of the
covenants on their part hereby made ~nd entere~d in~o, this
;Agreement shall~ at the optian of the parties of the first part,
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j be forfeited and ~ermina.ted, and ~ the pazties of the second part
; b~iall fo~feit all payments made by them under this Agx~ement;
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and such payments shall be retained by the said parties of the
( first part in full satisfaction and liquidation of all damar~es
by them susta3ned, and the ~aid parties af the first part shall
have the right to re-enter and tak,e possession of the pr~is~s
~ + a.fozesaid without being liable to any action therefor. The
parti~s of the seonnd pa.rt are given the express privilege of
m~cing two or mcrre pay~ent$ an any installmerrt due date without
penalty, bvt the n?aking of such additionai payments gl~.a~ll not
ex'~end the time of the next due payment .
ROYCE R. LBWis
ATTORN`Y AY LAMI
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