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5. To promptly ay each and ever installment hereunder ` ~
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' as the same becames due ~ time of pay-ments being of the essence. '
6. To keep and maintain, throughout the life of this '
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~Agreem~nt, a policy of fire and extended coverage insurance upon
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:the aUove described property in the minimum amount of $9,500.00; i
~~such policy to name as 2oss payees the parties of the first part ;
1 and memorandum certificates of such insurance to be f•,~rnished
'the p~ities of the first part each and every year throughout the '
life of this Agreement. ~ ,
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. 7. The partie s of the second part are executing, ` `
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: simultaneously with this Articles of Agreement~ a Quit Claim Deed j
~ re••conve yi ng the above de scr ibed pro rt unto t he ` ~
pe y parties of ,
the first p~rt, with the express understanding that so long as
the payments called for herevnder are promptly made~ and the
i second parties otherwise abide by aIl the other terms hereof the ~
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` said Quit Claim Deed shall be held in escrow. How~ever, should ~
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' any paya~ent called for hereunder remain unpaid for 30 days from ,
~ the due_date or should second parties otherwise breach this ~
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; Agreement by non payment of taxes or other covenants herein `
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contained, then, first parties may, without any notice or demand
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to second parties, record said Quit Claim Deed and thereupon
~ second parties shall have no fnrther right, title, interest,
; claim or demand to the above described property and first parties '
may re..take possession of the same instanter arr3 second parties • ;
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' shall then have no right to possession of said property nor any
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: further right under this Agreement.
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NOW if the partie s of the second part shal l make the
payments and perform the covenants hereinbefore mentioned on '
' their part to be performed, then the parties of the first part
: will forthwith tender a good and sufficient deed with documentary:
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