HomeMy WebLinkAbout1819 5. Ta promptly pay each and every installment hereunder
as the sam~ becomes due, time of payments beinq of the essence.
6. To keep and maintain~ throughout the life of this
Agreement~ a policy of fire and extended cov~erage insurance upon
the abQVe described property in the minimum amount of $9,500.00.
Such policy to na.me as loss payees the parties of the first part
and memorandum certificates of such insurance to be furn3shed
the part3es of the first part each and every year throughout the
life of this Agxeement.
NOW~ if the paxties of the second part shall make the
payments and perfarm fihe cavenants hereinbefore mentianed on their
part to be perfc~rmed, the n the part3es of the first part wi11
forthwitM tender a good and sufficient deed with documentary
stamps affixed thereto, in a proper amount~ to the said part3es
of the second part.
IN THE EVEI~TT OF FAILURE of the said parties of the
second part to make any of the pa;,~ments, or any part thereof'
promptly on the dates specified~ or fail to perform any of the
covenants on theiz part hereby ma.de and entered intof this Agree-
men~ shall~ at the optian of the parties of the first part~
be foxfeited and terminated~ and the parties of the second part
shall forfeit all payments made by them under this Agreeanent;
and such payments sha11 be reta~.ned by the said parties of the
first part toward satisfactian and liquidatian of all damages
by them sustained, and tY~ said paxti~s af the first part shall
y have the r3ght to re-enter and take posse~sion of the premises
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aforesaid withoutbe~.ng liable to any action therefor. The
parties of the second par.t axe given the express privilege of
making tw~ or more payments on any instal~ment due da.te without
pena.Ity~ but the making of such additional ~ayments shall not
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