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a~ainst them, or shovld the parties of the first pa.~t be required
to foreclose this Agreement or otherwt~e briny lega2 action hereunder.
5. To promptly pay each and every insta22~ent
hereunder a?s the sam~ becomes dve, time. of payments being of the ~
essence.
6. The parties af the first part shall keep and maintain~
throughout the life of this Agreement, a policy . of f ire arxi extended
coverage insurance upon the above described property; such policy
to name as 2oss pay~ees the parties o~ the first part. Parties of
the second part shall fortha?ith pay the premium for ~ such insurance
by promptZy ~urnish3.ng Certificate of such insurance to the parties
of the first part.
The pazties of the second pa~ct are executing, simul-
taneously with this Airticles of Agreement, a Qait Claim Deed re- -
conveying the above described property unto the parties of the
first part, with the express understanding that so long as the
payments called for hereunder are promptly made and the second
parties otherwise abide with all the other terms hereof the said
Quit Claim Deed shall be held in escrow. HovPever, shou~d any ~
payment called for hereunder remain unpaid for 30 days from the
due date or should second parties otherwise breach this Agreement
by non payment of taxes or other covenant herein contained then,
first parties may, without notice or demand to second parties,
record said Quit Claim Deed and thereupon second parties shall
have no further right, title, interest, claim or demarxi to the
above described property and first parties may retake possession
of the same instanter and second parties shall the n have no right
to possession of saa~d property nor any further right under this
Agreement.
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