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~ ; 5. To promptly pay each and every installmen~t hereunder ~
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as the same becomes due, time of payments being of the essen~~,
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6. To keep and maintain, ~hxoughout the life o_f th3.s I
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Agreement~ a policy of fire and extended coverage insurance upon ~
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the above described property ~n the minimum amount of $9,500.00.
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Such policy -~o narae as loss payees the parties of the first part ~
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a~~d m~morandum certif.icates of such 3nsurance to be furn3shed
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~ the parties of the first part each and every year ~hxoughout the I
life ~f this AgreeinPn~. ~ ~
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~ NOW, if the paxties of the sec:~nd ~art shall make the ~
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payments and perform the covenants hereinbefore tuentioned on j
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their part to be performed, ~hen the part~es o~ the first part ~
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will forthwith tender a good and sufficient deed with documentaxy~
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~i stamps affixed thexeto, in a propex amount, to the said parfiies ~
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` of ~he second part. ~
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IN THE EVENT OF FAILURF, of the said parties of the ;
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~ second part to make any of the payments, or any part thereof~ ~
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`i promptly on ~he dates specified, or fail to perfarm ariy of the ~
covenants on their part hereby made and ~ntered into, this Agxee-~
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men~ shall, a~ the option of the parties of the first part, ~
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' be forfeited and terminated, and the par~ies of the second part
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i, shall farfei-~ all payments made by fihem urider this A4reement; }i
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and such payments shall be retained by the said parti.es of the
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~i first part toward satisfaction and liquidat:~on of all damages ~
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; by them sustained, a-~d the sa id part Ies of fihe first paxt shal.l ~
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iR have the right to re-entez and take possession of the premises
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aforesaid wi thout bei ng liable to any actian therefor . The i
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parties of the second paxt ar~ given the expr~ss privilege of ~
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maki ng two or more payme nts on any i nstal lment due date wit hou~
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t~ penalty, bnt the making of such additonal payments shall not
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i 80DK ~J~~3 .
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