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5. To promptly pay each and every installment hereunder ~
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~ as the same b~com~s due, time of payments be:ing of the essence. ~
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6. To keep and maintain, ~~hrouyhout the life of this ~
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Agreement, a policy of ~ire and ex~ended coverage 3nsurance upon f
• the above descr ibed propert y i n the mi n3mum amount of $9, 000. 00. ~
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' Such policy to name as loss payess the parties of the first part ~
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~ and memorandum cextificates of such insurance ta be furnished ~
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the parties of the first part each and every year throughout -~he ~
life of this Agreemen~t. i
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; NOW, if the parti~s of the second part shall tnake ~he ~
! payments and perform the covenants hereinbefore mentioned on t~heir~
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; par~ to be performed, then the parties of the ~irst part will !
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forthwith tender a good and suffici~nt 3eed with documentary ~
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: stamps affixed ~hereto, in a proper amounty 4a the said Y~rt~es ~
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of the second part . ~
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IN THE EVENT OF FAILURE of the said parties of ~he ~
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seconci part to make any of the payments, or any part tchereof
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proinptly on the dates specified, or fail to perform any of the ~
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; covenants on their part hereby made and entered into, this Agree-- i
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ment shall, at the option of the parties of ~he first part, ~
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b e forfeited and terminated, and the parties of the second part ~
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; shall forfeit a~l payments made by them under thi~ Agreement; j
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and such paymen~s shall be retained by the said parties of ~he 1
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first part toward satisfaction and liquidation of all damages ~
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by them sustained, and the said parties o.f the f~rst paxt shall
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have the right to re-enter and take possession of the premise ~
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`i aforesaid without being i-iable to any action therefor. The ~ }
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; parti.es of the second part are given the~ express privileqe of ~
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;i making two or more payments on any installment due date without !
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i~ penalty, but the making of such additional payments shall. not ~
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gooK~~S ~ 4~. f
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