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HomeMy WebLinkAbout2155 ~ , ~ (6) To promptly pay eech and every the install- ments of principel end i~terest as hereinbe - fore required and to pey such othor sums as hereinbefore required promptly as the same becomes due. Time of such peyments being an essential part of this agreement. (?)The parties of the second part covenent and agree thgt ih the event any payment due hereunder shall become delinqy~ent for thirty deys, that the parties of the first part shall be entitled to the eppointment of a Receiver to take and possess the property above described and to ceuse the removal of t:ze aecond parties or eny parties claiming under them, which Receiver shall con- serve the said property and the rents and profits arising therefror.l until discharged by court of competent ~urisdiction. yOW, ~f the par~ies of the second part sYiell make the payments and perform the covenents hereinbefore mentioned on their part to be performed, then the parties of the first part wfll forthwith tender a good and sufficient Deed with Documemt~ry stamps ai'fixed thereto, in a proper amount to the said parties of the second part. In the event of fa ilure of the sa id part ies of the second part to make any of the payment, or any part therof oP fail to perform any of the covenants on their part hereby mede and entered into in addition to the remedies hereinbefore eccorded to the i'irst parties, this contract shall, at the pption of the parties of the first part, be forfei~ed and terminated, and the parties of the second part shall forfeit all payments made by them under this ccntract, and such payments shall be retained by the said parties of the first part in full satisfaction and liquidation of all damages by them sustained, and the said parties of the first part shall have the ri~ht to rei?enter and take possession of the premises aforesaid Hith out being liable to eny action therefore. The making of payments anticipated hereinbefore provided shall not extend the tirr:e of the next due payment. It is MTTTUALLY AGREED, by and betKeen the psrties hereto, that the time of each p~yment shell be an essential part of this contr~ct and that all covenants and agreem~nts herein contained shall extend to and be obligetory upon the heirs, executors, administrators and essigns of the respective perties. ~ _ ~ ~i75 ~2152 _ _ _ _ . . `~~'.'~"+.~a h.Y. ~..~i~ed.3' ~ . -c, i. ~ _ ~ _ ~ 4e,.