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ARTICLES OF AiGR~T - page 3.
the op~ion of FIRST PARTIBS, be forfeited and terminated
,
and the SDCOND PARTIBS shall forfeit all payments made by
them on this contract and such payments shall be retained
by FIRST PARTIES in full satisfaction and liquidation ot
all damages by them sustained and FIRST PARTISS shall have
the right to re-enter and take possession of tbe premises
aforesaid without being liable for any action therefor.
The fi.rst payment shall be due August l, 1967. If
payments are not received by the lOth d~y of each month,
there shall be a.$3.50 penalty charge.
The parties hereto understand that sanitary sewers are
being installed on the street which bord~rs the property 3n
question and that the City of Pbrt Pierce will assess a lien
against the property for the installation of such sewers on
a per front foot basis. There is also an additional charge
anticipated at the time the house located on the above-des-
cribed property ~s connected to the City sewer, and S~COND
PARTIES agree that if the amount of sach connection charge
is to exceed $125.00, FIRST PARTILS shall be given the oppor-
tunity to secure same for a lower price. FIRST PARTISS agree _
to credit against the last maturing principal installiaente on
this contract, one-half of the amount of the initial sewer
assessment and sewer connection charge.
It is niutually agreed and understaod by and between
the parties hereto, that the time of each payment shall be
an essential part of this agreement, and that all covenants ,
and agreements herein contained sha11 extend to and be ob- -
ligatory upon the heirs, executors, administrators and
assigns of th~ respective parties hereto.
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