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Home My WebLink About2870 be held in escrow, However, should any payment called for hereunder remain unpaid for 30 days from the due date, or should second parties otherwise breach this Agreement by non payment of taxes or other covenant herein 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 right, i title, interest, claim or demand to the above described property and first party may re-take possession of the same instanter and second parties shall then have no right to possession of said property nor any further right under this Agreement. NOW, if the parties of the second part shall make the payments and perform the covenants hereinbefore mentioned on their part to be performed, then the parties of the ~irst part, will forthwith tender a good and sufficient deed with documentary stamps affixed thereto, in a proper amount, to the said parties of the second part, IN THE EVENT OF FAILURE of the said parties of the second part to make any of the payments, or any part thereof, promptly on the ciates specified, or fail to perform any of the covenants on their part hereby made and entered into, this Agreement shall, at the option of the parties of the first part, be for- ; ; feited and terminated, and the parties of the second part shall forfeit all payments ~ made by them under this Agreement; and such payments shall be retained by the said parties of the first part toward satisfaction and liquidarion of all damages by them sustained, a~d the parties of the first part shall have the right to re-enter ~ and take possession of the premises aforesaid without being liable to any action ~ therefor. The parties of the second part are given the express privilege of ~ making two or more payments on any installment due date without penalty, but _r the making of such additional payments shall not extend the time of the next due payment. : IT IS MUTUALLY AGREED by and between the parties hereto that the time of the payments shall be an essential part of this Contract and that -3- } i s~ ~8~ ~,~8~ ' - ~ ~ ~ ~~~r__ _ . - y~~~