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HomeMy WebLinkAbout2928 i . ~ ' ~ ~ S' l 4 6. To keep, and maintain, throughout the life of this ,e~greement, a policy of fire and extended coverage insurance upon ~~the above described property in the minimum amount of $8,500.00. i` i ~Such policy to name as loss payees the parties of the first part • and memorandum certificates of such insuran~e to be furnished the parties of the first part each arid every year throughout the ~ 1'f of this A reement i e g . ~ Now, if the parties of the secor~d part shall make the ~ payments and perform the covenants hereinbefore mentioned on ~ ~their part to be perfoxmed, then the parties of the first part wil - forthwith tender a good and svfficient 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, promptly on the dates specified, or fail to perform any of the ~ I ~covenants on their part hereby made and entered into, this i 4 Agreement shall, at the option of the parties of the first part~ ~be forfeited and terminated, and the parties of the second part ~ ! ~ i shall forfeit all payments made by them under this Agreement; i ~ ~ ~and such payments shall be retained by the said parties of the ~ first part toward_satisfaction and liquidation of all damages j by them sustained, and the said parties of the first part shall i have the right to re-enter anci take possession of the premises ~ aforesaid without bei ng liable to any action therefor. The ! ~ fi parties of the second part are given the express privilege of ~ - ~ ma?king two or more payments on any installment due date without ! i ~ _ (~~r.a~tyf, but the makinQ of s~~ch additional paymerrts shall not ~ ~ ~ ~ extend the time of the next due payment. - - ~ 1 ~ ~ ' ~ - 162 ~ 5~5 _ ; . _ _ ~ _ . c.h"~"~ ~ 3 w~'~~" _ , _ ` . _ ~ .