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5. To promptly pay each and every installment here-;
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under as the same becomes due~ time of payme nts being of the
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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
$g~000.00; such policy to name as loss payees the parties of the ;
first part and roemorandum certif~icates of such insurance to be
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furnished the parties of the first part each and every year ,
throughout the life of this Agreement.
7. To not sell the subject property or assign this
Articles of Agreement without the written approval of the parties~
of the first part. '
' Now if the party of the second part shall make the
payments and perform the covenants hereinbefore mentioned on its :
part to be perfarmed~ then the parties of the first part will
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forthwith tender a good and sufficient deed with documentary
~ stamps affixed thereto~ in a proper amount~ to the said party
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, of the second part.
IN THE ~VENT OF FAILURE of the said party of the
~ second part to make any of the payme nts, or any part thereof, ' ;
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pramptly on the dates specified, or fail to perform any of the i
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covenants on its part hereby made and entered into, this Agree•• ;
ment shall, at the option of the parties of the first part, be :
forfeited and terminated~ and the party of the second part shall
forfeit all payments made by it under this Agreement; and such =
payments shall be retained by the said parties of the first part ~
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in full satisfaction and liquidation of all damages by them ~
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sustained; and the said parties of the first part shall have the :
right to reeenter and• take possession of the premises aforesaid
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; a~ 1~9 ~ 2478
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