HomeMy WebLinkAbout1811 S. To promptly pay each and every installment hexeunder.
as the same becomes due, time of payments being of the essence.
6. To keep and maintain, throughouti the life of this
Agreement, a policy of fire and extended coverage insurance upon
the above described property in the minirnum amount of $9~500.00.
Such policy to name as loss payees the parties of the first part
and memorandum certificates of such insurance to be furnished
the parties of the first part each and every year throughoufi the
life of this Agree:nent .
NOW, if the parties of the second par~t shall make the
payments and perform the covenants hereinbefore mentioned an their
part to be performed, then the parties vf t he first part wili
forthwith tender a go~d and sufficient deed wifih dncumentary
stamps affixed thereto, ir_ a pro per amount, to the said parties
of the second part.
IN T~~ EVENT OF FAILURE of the said parties of the
second part ta make any of the payments, or any part thereof,
promptly on the dates specified, or fo,il to perform any of the
covenants on their part hereby made and entered into, this Agree-
ment shall, at the option of the parties of the first part,
be forfeited ~.nd terminated, and the parties of the second part
shall forfeit all. payments made by them under this Agreem~nt;
and such payments shall be retained by the said parties of the
fixst part toward s~tisfaction and liquidation of all damages
by them sustained, and the said parties of the first par~ shaJ.l
have the right to re-enter and take passession of the pxemises
aforesaid without being liable to any action therefor. The
parties ~f the secand part are given the e~zpress privilege af
making two or mare paymen~s on any inst~.llment due date without
pe n~.~ty, but the rnaking of such additional payments shall not
~xtend the t ime of t he next due payment .
IT IS MUTUaI.LY AGREED by and between the parties hereto
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