HomeMy WebLinkAbout1004 otherwise abide by. all the terms hereof, the said Quit Claim Deed shall be
held in escrow; however, should any payment called for hereunder remain
unpaid for 30 days from the due date of should second parties otheiwise
• breach this Agreement by non•payment of taxes or other covenant herein con-
tained, 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, title interest, claim or demand to the above described property and first
parties may take possession of the same instanter and second parties shall then
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have no right to possession o# 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 herein before mentioned on their part to be performed, then
the said parties of the first part will forthwith ~tender a good and and sufficient
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deed with documentary stamps affixed thereto, in a proper amount, to the said ;
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parties of the second part. ~
IN THE EVENT QF FAILURE of the said parties of the second part
to make any of the payments, or any part thereof, promptly on the dates 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 cancelled
and terminated; and the parties of the second part shall forfeit all payments made
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I by them under this Agreement; and such payments shall be retained by the said
parties of t~e first part toward satisfaction and liquidation of all damages by them
` sustained, and the parties of the first part shall have the right to re-enter and take
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~ possession of the premises aforesaid without being liable therefor. The parties of
; the second part are given the express privilege of makeing two or more payments
on any installment due date without penalty, but the making of such additional pay- `
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i ments shall not extend the time of the next due payment.
IT I~ MUTUALLY AGREED by and between the parties hereto that
the time of each payment shall be an essential part of this Agreement arid that all
covenants and agreements herein contained shall extend to and be obligatory upon
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the heirs, executors, administrators and assigns of the respective parties.
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