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take legal action to enforce the provisions hereof, oY shovld the
party of the second part breach this Agreement a'x3 refuse to
quit the premises, making.it necessary to bYing eviction proceed•
- ings against him, or should the parties of the first part be
required to foreclose this Agreement or otherwise b~ring le~al
action hereunder. - .
5. To promptly pay each and every installment
hereunder as the sauae becomes due, time of payments be~ng of the
essence.
6. The party of the second part shall keep and
maintai~,- throughout the life of this Agreement, a policy of fire
and extended coverage insurance upon the•above described property
in the miniaum coverage of $5,000.00; such policy to name as
loss payees the parties of the first part. Party of the second
part shall pay the preminms for such insurance promptly as they
became due. -
7. The party o~ the seoond part is executing,
simultaneously with this Articles of Agreement, a Qnit Claim Deed
re-convey_ing the above described property unto the parties of
the first part, with the express understanding that so long as th
payments called for hereund~er are promptly made and the second
party otherwise abide~ with all the other terms hereof the said
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; Quit Claim Deed shall be he~d in escrow. However, should any
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paym~nt called for hereunder remain unpaid for 30 days from the
due date or should second party otherwise breach thfs Agreement
by_non payment of taxes or vther covenant herein contained then~
first pazties may, without any notice or demand to second party,
record said Quit Claim Deed and thereupon second party shall
have no further right, title, interest, claim or demand to the
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