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~ 5. ~ To promptly pay each and evexy ~.ns~~,llment h~exeundQr
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; as ~he same become~ due, time of payments bRing of the essence.
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~ • ~ 6. xo keep and maintain~ throughou~ the ~ife of this
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~ ~ : Agreement, a policy of ~ixe and ex~ended coverage insurarae upon ~
~ ' the above descxibed property in the m3.nimum amount of $9~OOO.C?O.
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~ Such policy fio r~amc; as loss payees the parties of the first part
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` . and memorandum certif~cates of~ such insurance to be furnished ,i
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_ the parties of the fixst part each and every year thx aughout ~he
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Zife of tt~is Agreement. ~ ;
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; Now ~f ~he party of the second part shall m~,ke ~he
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payments and perform the covenants hereinbefore mentioned on -
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: its part to be performed, then the part3ea of the fir~t pa~t , ~
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will ~orthwith tendex a good and suffic3ent deed with documen~axy ~
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~ stamps affixed ~hereto, in ~ proper amount~ to the said party of
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• the second part. ~
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' ~ IN THE BVENT O~ FAILURB of the sa~cP party of th~ second
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part to make any of #he payments, or any parfi thereof~ promptZy
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on the dates ~peci£ied, or f~il to per.~orm any o~ the covenants ~ ~
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on the3r par't hereby made and entered ~.nto' this Agreement shall:
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at the option of the parties of the first p~?rt, be forfeited and ~
termina.ted and tte art of the second ~
s F Y p~Xt shall forfeit all ~
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payments zaade by it under this Agreement; and such payments shall ~
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be r~~ained b the said ~ ~
_ y parties of the first part in full sat~s••
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- faction and liqu~dation of all damage~ by them eustained; and the
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sa~d arties af fihe fir~t
p part shall have the r~gh~ to ace-ent~r
~ and take possession of the premises aforesaid without be3ng li~ble ~
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. to any action therefor. x'he party o~ the second part is given , r
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~the expres~ privilege of making two or more payments on any ~ }
~nsfiallment due da.te without penalty, but the makir~g af such
, additional p~ayment~ shal.l not extend the time of the next due ~
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payment . - .
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