HomeMy WebLinkAbout0985 with this Articles of Agreement, a Quit Ctaim Deed reconveying the
abo~e described property unto the parties of the first part, with the
express understanding that so lang as the payments called for here-
und~r are promptly made and the second part~,~ otherwise abides by
all the terms hereof th~ said Quit Claim D~ed shall be held in ex-
crow. Howgver, should any payment called for here~nder remain
unpaid for 30 days from the due date, or should the second uarty
otherwise breach this Agreement by non-payment of taxes or other
covenant herein contained, then first parties may, without any norice
or demand to second party, record said Quit Claim Deed and thereupon
second party shall have no further right, title, i~terest, claim or de-
mand to the above described property and first parties 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.
~I~W, if the party o# the second part shall make the payments
and perform the covenants herein before mentioned on his part to be
performed, then the parties of the first part, will forthwith tender a
good and sufficient deed with docurnentary stamps affixed thereto, in a
proper amount, to the said party of the second part.
IN THE EVENT OF FAILURE of the said party of the second
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I part to make any of the payrrients, or any part thereof, promptly on the
dates specified, or fail to perform a~ty c~f the covenants on his part hereby
make and enter into this agreement shall, at the option of the parties of
the first part, be forfeited and terminated, and party of the second part
shall forfeit all payments made by him under this Agreement; and such
payments shall be retained by the said parties of the first part toward
~ satisfaction and liquidation of all damages by them sustained, and the
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~arties of the first part shall have the right to re-enter and take pas- ;
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session of the prem,ses aforesaid without being liable to any action ~
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therefor. The party of the second part is given the express privilege ~
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of malcing two or more payments on any installment due date witl
out ~
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penalty, but the making of such additional payments shall not extend ~
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d~1y3 984