HomeMy WebLinkAbout1815 5. To promptly pay each and Pvexy installme nt h~reunder
as the same becomes due, time of payments being of the essence.
6. To keep and m~.intain, throuyhout the life of this
Ag.reement, a policy of ~ire and extended coverage insurance upon
the above described property in the minimum a.mount of $9,600.00.
Suc.h policy to name as loss payees th~ parties of the first part
and ~emorandum c:ertificates of such insurance ~to be furnished
the parties of the first part each and every year throughout the
life of this Agxeement.
NOW, if the parties of the second part shall make the
payments and perform the covena:~ts hereinbefare mentioned on their
part to be performed, then the parties af the first part will
forthwith tender a good and sufficient deed with documentary
stamps affixed thereto, in a proper amount, 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,
gromptly on the dates specified, or fail to perform any of the
covenants on their part hereby made and en~ered into, this Agree--
ment shall, at the option of the parties of the first part,
be forfeited and terminated, and the parties of the second part
shall f ar~eit all payments made by them under this Agreement;
and such payments shall be retained by the said parties of the
.first part toward satisf action and liquidation of all damages
by ~hem sustained, and the said parties of the first part shall
have the right to re--enter and take possessian af the premises
aforesaid without being liable to any actian therefor. The
parties of the second part are given the ~xpress privilege of
making two or more payments on any installment due date withc~ut
pena±ty, but the making of such additiona.l payments shall not
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