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j; 5. To promptly pay ea,cn and every installmQnt hereunder~
as the same becomes due, ti~e of payments being of the essence.
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6. Tt~ keep and mainta?in, throughaut the 13fe of. this •
Agreement~ a policy of fire and extended coverage insurance upon ~
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the above described property in the minimum amount of $9,500.00.
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i; Such policy to na,me as loss payees the parties of the first part
j' and memorandum certificates of such insurance ta be furnished
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, the parti~s of the first part each and eve;y year thxoughout the
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~ life of this Agreement.
NOW~ if t he parties of the second par~ shall make the j
~~ayments and per~orffi the covenant~ hereinbefore ment3oned on their;
` part to be performed, then the pa~rties of the firs4 ~art w~ii
forthwith tender a good and sufficient deed ~ith documentary
stamps affixed theretc, in a proper a.mount, to the said parties
of the second part.
IN THE EVENT OF FAILURE of the said parties of the
second part to make any of the payments, or any part thereof,
promptly on the dates specifie~d, or fail to perform any of the
~ coven.ants on their part hereby mad~ and entered into, this Agres- ~
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' ment shalZ, at the opti~n of the parties af the first part,
be forfeited and terminat~d, ari.d the parties of the second part
shall forfeit a11 payments ma.de by th~m urtder this Agreement; ~
and such p~y~ents shall be retained by the said parties of the
Sirst part toward satisfaction and liquidation of all dama.ges
by them sustained, and th~ sa~d parties of the first part shall
~ have the right to re-enter and take possession of the premises
aforesaid without being ].3able ~a any action therefor. The
parties of the second part are given the e~cpzess privilege of
maki.ng two or iaore payments on any installment due dat~ without
penalty, but the making of such additional payments shall not
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