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Home My WebLink About2342 c i , j . t! i • 5. The eeaond poxties w~.ll kaep the dwelling insured in the minimum amount of $2,OOO.QO fire c~nd extended aoveruge~ wi.th loee p~yable to the 2'irat ° partiea as their inte~reet mr,y uppear, eaid polioies to be deposited with the ~ first parties, nnd premiums to be puid by the aeaond parties. However~ should . the seoond partiea fail to keep suvh insurance in force~ or fa~l to pay the premo ~ ium thereon promptly,-firat p:~rties shall liave the option~ but ehall not be re- E - quired~ t~ pay said Premium, ~nd ~.ny amounte ao paid shall be added to thi~ Con- . ~ ~ tr.~at and ~h~ll beKr intereat aix perc~nt (6~0~ per annum from date of euch ~ , payment or ~~flyrnente. ~ 6. IIpon compietion of the ppyments to be made by the seoond partie~r ~ and i.ntcreat, as a~reed~ thc first pnrties coven~t and ugree to aonvey eaid real estate to thc secorid parties by a proper Warranty Daed~ free and aleur of all • ~ lfans ~r?d encumbr~ncen, except as to ttuces rfter 1964, and exaept ae to auch liene, ~ rind~or encunibranoea as m~y come into exiatenae hereAfter throu~h no fr~.ult of the first parties, ~~i~d except as to auch liens and~or enoumbranaea ao tha aeaond pa.r- ties may have imposed or peacmitted to be imposed on sAid title. • . • ~ • 7, In case of the ~ailure o~ the secand pnrtiea~ their eurvivor, heirs ~ a.nd a~aigna, to make either of the payments~ or at~y paxt tt~ereof~ or to parform - ar~y of the coven:~nts on their part hereby made und entered into, and suah x'ailura ~ or default shall continue for a period of mora than thirty-oiia (31, days~ thie Con- ~ tract, shall at ~he option of the first 7x:rtiee, their heir~ aMd ussi,gna~ be ter- min~ted, and ull zunounts paid hereunder ehall be the propcrty of suah first p~.rties~ ~ their heirs and f:asfgns, vrho eh~ll have the right to re-enter and take poaseasion oF above property, without notice, vrithout ouit or legal proceedinge and without ~ being lia~le i'or :ny action in connection therewith; provided, however, that the ~ rights above provided to said f'irat parties ahall~b~ cumulative and in ~ddition ~ to other rights Qrtiich tliey mny have in the premises, and indulgenae by said first s ~ partiee ehall not be t~ken or considered as consent; and in the event of a breach z: ~ of thie Contract the second pnrties, thcir survivor, heirs9 legal represantatives und Aesigns, hereby agree to pay ull costs ~nd expenses of colleating an~y amounts . ~ due-hereunder, or otherwise proteating the ri~hts of safd firet parties~ their ~ ~ f hairs~ legal representatives, fznd ~asigns, including a r~asonabla attorney~s fee. And, in the ~vent i~irat pr~rcies shall have sa1 option provided above and have not . , exercised the snme, such i'ailure to axercise suah option shall n~ot be a waiver nor` ~ ~ a b1r to later exercise of auoh optfon. - ~ ~ • ~ ~ 8e It is mutually agreed by the garties hereto that the time of payinent _ ahall be an essenti~l p~.rt of this Contract~ and that all covenants and agreer,ients herain sha11 extend to a,nd be obligutory upon the eurvivors, heirs and ~ssigns o~ _ - the respective parties hereto, and~or their executors and administratore. ~ ~ • ' . f 3: IN WITNE53 VlliEREOF ~he parties have hereunto aet thcfr hande and sela~ #.~~ie ~ t~ da`y of• December, 1964. ~ : ~ r~ . ~ ~ . ~ ~ v ~~'I~iG~~/ (SEAL) ~ James D. 1ii.lton . In the presence of: . ~ . . . . . ~ ~ ` ~ . _ ~ s~,) . - ~ Minnie ISilton ~ - Fir~t Parties ~ ~ - € • . ~ ~ . i~ (SEAI') . Milton • 1litnesses as to all parties Dt,.r~iel B. ~ . ~ . 3 ~ ~ , .Gb~~g~~ . . Nan E. Ltilt ) ~ Second ~arties F . . ~ ~ . . Pa~ge Two ~ . ~ ~ ~ - . C . , ~ ~ . ~ ~~R~ 1,Ofi~~ F~ACr 54~, . ~ . _ ~ . ~ • _ _ -