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indebtedness shall be paid; and to pay all taxes, assessments, or
impositions that may be legally levied or imposed upon said land
subsequent to the year 19~_and to keep the buildings upon
said premises insured in some company satisfactory to the parties
of the first part, in a sum of not less than full insurable value
during the term of this agreement. The parties of the first part
shall be named insured, and evidence of insurance shall be furnished
to them.
In case of the failure of the said parties of the second part
to make any of the above payments or any part thereof, or to
perform any covenants on their part hereby made and entered into,
this contract shall, at the option of the parties of the first
part, be forfeited and terminated, and the parties of the second
part shall forfeit all payments made by them on this contract and
such payments shall be retained by said parties of the first part
in full satisfaction and liquidation of all damages sustained and
the parties of the first part shall have the right to re-enter and
take possession of the premises aforesaid without being liable to
any action therefore.
IT IS MUTUALLY AGREED by and betweer. the parties hereto that
time of payment shall be an essenti_al part of this contract, and
that all covenants and agreements herein contained shall extend to
and be obligatory upon the heirs, executors, administrators and
assigns of the respective parties.
IT IS FURTHER AGREED that in the event of failure of payment
of any amounts required to be paid hereunder, that the entire
balance then remaining shall be due and payable. The parties of
the second part do agree to pay same within ten (10) days from
the default, or alternatively, to sign a deed to the property back
to the parties of the first part, their heirs, designees or assigns. ;~
n~~(J~ Pl~~e ~
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