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of Sellers' title to the property as hereinabove descrihed.
9. Title in the aforesaid realty shall be and is
reserved to the Sellers, their heirs, executors, administrators,
successors and assigns until full performance by the Buyers as
required hereunder. Upon full performance by the Buyers, the
Sellers shall deliver to the Buyers a fee simple title to said
realty, by statut~ry Warranty Deed, free and clear of all liens
and encumbrances, except for ~oning and other governmental
regulations and such restrictions, easements and reservations as
may appear of record in the Abstract of Title being delivered to
the Buyers prior to the closing 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
Sellers, taxes, assessments and insurance premiums, and if such
default continues for Thirty (30) days, Sellers a` ~heir option
may:
A. Declare a farfeiture 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 Sellers 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 *he 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 Sellers and repayable to the Buyers hereunder, it being stip-
ulated and agreed that such obligation to re-pay is a separate
and independent~covenant of the euyers. No action to recover any
payment or payments so made by the Sellers shall constitute a
waiver of the rights to proceed otherwise with respect to any
subsequent default.
C. No waiver by the Sellers of any default of
NAROLD N.GOLDMAN
e »on~v ~T uw
307e S fEDERAL MRY.
vT Sr l1IC~E. ilA- 7'i167
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the Buyers shall be construed as a waiver of any subsequent
default.
~ ~ :~349 F~~i4`3~
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