HomeMy WebLinkAbout2200 hereof.
10. Time is of the essence of this Agreement. In
the event Buyers fail 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 Thirty (30) days, Seller at its option
may:
A. Declare a forfeiture of Buyers' rights
hereunder and cancel this contract. On such election, all right,
title and interest of the Buyers hereunder shall cease and deter-
mine and all payments therefor made by Buyers shall be retained
by the Seller as liquidated damages and as rental for the use and
occupancy of the property..
B. In lieu of declaring a forfeiture, accele-
rate and bring an action for the balance of the purchase price
remaining due, or for any other relief available in law or
equity, including suit to recover any payment or payments made by
the-Seller and repayable to the Buyers hereunder, it being -
f stipulated and agreed that such obligation to re-pay is a
separate and independent covenant of the Buyers. No action to
recover any payment or payments so made by the Seller shall
constitute a waiver of the rights to proceed otherwise with
respect to any subsequent default.
C. No waiver b the Seller of any default of
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the Buyers shall be construed as a waiver of any subsequent
default.
10. The parties acknowledge that default shall be
construed as having occurred hereunder when the payment as
required by the Buyers shall have been delayed or not made within
Thirty (30) days of the due date thereof.
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11. It is agreed between the parties hereto that
the Buyers are purchasing and taking possession of the within
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property in its "as is" condition.
12. It is further agreed between the parties .that
HAROLD H. GOLOMAN
~rroR~n?wtw. this agreement may not be assigned without the written consent
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of all parties to this agreement.
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