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i' S. To promptly pay each and every installment hereunder ~
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as the same becomes due, time of payments being of the essence.
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6. To keep and maintain, throughout the life of this ~
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~~Agreement, a policy of fire and extended coverage insurance upon ~
!~the above descrit~ed property in the minimum amount of $10,000.00;
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such policy to name as loss payees the parties of the first part ~
and memorandum certificates of such insuxance to be furnished
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the parties of the first part each and every year throughout the ~
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life of this Agreement. I
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7. The parties of the second part are executing, ;
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simultaneously with this Articles of Agreement, a Quit Claim Deed i
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~ re-conveying the above described property unto the parties of ~
~ the first part, with the express understanding that so~long as i
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;`.the payments called for hereunder are promptly made~ and the ;
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second parties otherwise abide by all the other terms hereof the f
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' said Quit Claim Deed shall be held in escrow. However~ should ~
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' any payment cal led for here under remain unpaid for 30 days from
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f the due date or should second parties otherwise breach this
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' Agreement by non payment of taxes or ol~her covenants herein :
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:~contained, then, first parties may, without any notice or demand ~
to second parties, record said Quit Claim Deed and thereupon
;~second parties shall have no further xight~ title~ interest,
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claim or demand to the above described property and first parties
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may re~.take possession of the same instanter and second parties '
shall then have no right to possession of said property nor any ~
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~°further right under this Agreement.
NOW if the parties of the second part shall make the ~
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payments and perform the covenants hereinbefore mentioned on
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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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~~stamps affixed thereto, in a proper amount, to the said parties '
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