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' as the s~me becom~s due~ time of paymen~~ be~ng o! the essence.
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~ 6. To keep and maintain, throughou~ the l.ife of th~s ~
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, Agreement, a gol~.cy of ~~.xe and extended coverage insurance upon ~ ~
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' the above descr3.bed property ~.n the id.nimum ~amount of $9,000.00. ~
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; ~ Such policy to name as ].oss payees ~he parties of the fixst part ;
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: ~?nd memorandura cer~~ficates of such insuxar~ce to be furnished ;
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• the par~ties of the f~.rst par~ e~ch and every year throughout the
13fe of this Agreement. ;
Now if the par~ies af the second paxt shall m~ke the ~
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- ~ payments and pexform the covenants hereinb~fore mentioned on their ;
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. part to be perfoxmed, then' th+e part~es ~of °the first paart will ~
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fqrthwith tender a good ~nd sufficient deed with documentary ~
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. stamps affixed thereto~ in a proper amount~ to the sa3.d parties #
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of the second part. ~
IN THE EVENT OF FAILURB of the sai~d parties of the second
part to make any of the payments, or any part thereofi pramptly
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on the dates spec3fied, or fail to perform any of the covenants ~
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; on their part hexeby made and entered into~ this Agreement shalls ~
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~ ' at the opti.on of fihe part"~ies of the fi.rst gart, be forfeited and ~ i
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terminated, and the parties of the second part shall ~orfei~ alI
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~:t: payments made by them under this Agreemen~, and such pa?ymenfis shall
be re~ained by the said parties of the ~irst part in full sat3.s- -
- faction and ].iquidation Qf all damages by them sustained; and the
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. said parties ot the first part shall have the right to re-enter
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and take possession of the premises ~?foresaid without being liable
~o any action therefor, Th~ part~e~ of the second paxt are g3ven
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the e~cpres~ privilege of making two or more p~ymerats on any insta?11
_ . ment due date without pensl.ty, but ~he mak3.ng af such ndditional
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= p$yments shall not ex~end the time of the next due payment.
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