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HomeMy WebLinkAbout2834 ~ ~ - i ~ S. To promptly pay each and every installment hereunder ~ ! as the same becomes due, time of pa.yments being of the essence. ~ 6. To keep and maintain, throughout the life of this ~Agreement, a policy of f ire and extended coverage insurance upon ~ the above described property in the minimum amount of $8,000.00. 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 throughout the life of thi s Agreeirtent . Now, if the parties of the second part shall make the i ~ ~ payments and perform the covenants hereinbefore mentiorYed on their , ~ part to be performed, then the parties of the first part will ~ ~y forthwith tender a good and sufficient deed with documentary ~ ~ stamps affixed thereto, in a proper amount, to the said parties i of the second part . ; i ~ E IN TI-~ EVENT OF FAILURE of the said parties, of the f ~ second part to make any of the payments, or any part thereof, ~ ' promptly on the dates specified, or fail to perform any of the ~j ~ covenants on their part hereby made and entered into, this Agree-- F ~ ~ ment shall, at the option of the parties of the first part, be ~ ~ forfeited and terminated, ar~d the parties of the second part , ~ shall forfeit all payments made by them under this Agreement; ~ ~ f and such payments shall be retained by the said parties of the ~first part toward satisfaction and liquidation of a11 damages ( ~ by them sustained, and the said parties of the first part shall have t he ri ght to re -e nte r and take po s se s si on of the premi se s , aforesaid without being liable to any action therefor. The ; parties of the secotxi part are given the express privilege of I f making two or more payments on any installment due date without t i ~ penalty, but the making of such additional payments shall not a~K 157 4~3 - _ - ~ .~t:~:~~~~~~ ~'r ~ _ ' ~ _ ^~;M - ~~-;~.;a - .