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the Purchaser. Such right shall be deemed to be an option and shall
impose no obligation on the Seller and Seller may elect to treat such '
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neglect or failure on the part of the Purchaser as a breach of this !1,
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contract. !
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Seller has obtained or shall obtain prior to the closing 1 s
hereof an Abstract of Title certified to at least the date of this Agreement ~
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and shall pay the cost thereof, said Abstract showing good and merchan- ~ 1
• tible title, subject only to this contract, taxes and assessments not yet '
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due and payable and such easements, restrictions, reservations and other
related items so as not to interfere with the intended use of the property
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by the Purchaser. Said Abstract shall be delivered to Purchaser on its
issuance and shall be accepted by them as evidence of Seller's title to the
property as hereinabove described.
8. Title in the aforesaid realty shall be and is reserved
to the Seller, their heirs, executors, administrators, successors and
assigns until full performance by the Purchaser as required hereunder. ,
Upon full performance by the Purchaser, the Seller shall deliver. to the
Purchaser a fee simple title to said realty, by statutory Warranty Deed,
free and clear of all liens and encumbrances, except for zoning and other
governmental regulations and such restrictions, easements and reser- '
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vations as may appear of record in the Abstract of Title being delivered
4 to the Purchaser prior to the closing hereof.
9. Time is of the essence of this Agreement. In the event
~ Purchaser fails to make any payments required by the terms of this
contract at the time the same falls due and prior to the delinquency thereof,
including installment payments to the Seller, taxes, assessments and
insurance premiums, and if such default continues for 30 days, Seller
at their option may:
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Harold H. Goldmon
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~ ATTORNEY-IIT-U1W A. Declare a forfeiture of Purchaser's rights here-
a scze s. vo..d F+.r.
Gt. St. Ltxif, (10.33452
under and cancel this contract. On such election, all right, title and
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