HomeMy WebLinkAbout0075 described property unto tiie party of the first parr, with the express under-
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standing that so long as the payments called for hereunder are promptly made : '
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and the party of tt~e second part abides by all the terms hereof the said Quit '
; Claim Deed shall be held in escrow. However, should any payment called_for '
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hereunder remain unpaid for 30 days from the due date or should second party ~ ~
otherwise breach this Agreement by non payment of taxes or other covenant
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herein contained, then first party may, without any notice-or demand to secondi
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party, record said Quit Claim Deed and thereupon second party shall have no ; ~
further right, titie, interest, claim or demand to the above described property;
and first party may re-take possession of the same instanter and second party ;
shall then have no right to possession of said property nor any further right
under this Agreement.
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NOW, if the party of the second part shall make the payments called i
for and perform the covenants hereinbefore menrioned on its part to be perfor-;
~ med, then the said party of the first part, will forthwith tender a good and
sufficient dped with documentary stamps affixed thereto, in a proper amount, ?
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to the said party of rhe second part.
IN THE EVENT OF FAILURE of the said party of the second part to ;
make any of the payments, or any part thereof, promptly on the dates specifie~,
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' or fail to perform any of the covenants on its part hereby made and entered
into, this Agreement shall, at the optionof the party of the first part, be
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forfeited and terminated, and rhe party of the second part shall forfeit all !
payments made by it under this Agreement; and such payments shall be
retained by the said party of the first part toward sarisfaction and liquidation
Qf al~ damages by them sustained, and the party of the first part shall have
the right to re-enter and take possession of the premises aforesaid without
being liable for any acrion therefor. The party of the second part is given the
~ express privilege of making two ar more payments on any i~istallment due date
without penalty, but the making of such addirional paymencs shall not extend
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the time of the next due payment. '
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