HomeMy WebLinkAbout0053 ~I ~ 2
F
~ ~ k
~1 ~
I ~ ~
Ff ~
i; ~
~
l
~
y~ 3
1~ ~
ji 5. To p.romptly pay each and every a.nstallment hereunder ~
iias the same becomes due, time of payments being of ~he essence.
6. To keep and maintain, througY~out the life of this ~ ~
` ~
Agreement, a policy of fire and exfiended coverage insuxance upon ~
I i
j~the above described propexty in the minimum amount of $9,500.00. ;
Ii i
~ Such policy to name as loss payees the parties of the first paxt '
~
~and memorandum certificates of such insurance to be furnished ~
~I i
i
~j the parties of the first part eac~~ and every year throughout the
. j? ~ ~
life of this Agreement. ~
i~ ~
11 - ~
~Y t~. +
~ "T"*•', the part~°~ ±??p second part shall make thQ ~
#
y< <
I;payme nts and perform the covenants hereinbefore mentioned on their ~
4~ ~
i~ ~
~i part to be performed, then the parties of the first part will ~ort
i'
i
~~with tender a good and sufficient deed with documentary stainps ~ ~
~
iE af~ixed thereto, in a pxoper amount, to the saici par-~ies o.f ~he ~ j
~ #
~ second part. ~ ~
IN THE EVENT OF FAILURE of the said parties of the f
~I ~
ii second part to make any of the Fa}mients, or any part thereof, _
i
ram tl an the da~es s ecified or fail to `
P P Y p , perform any of the ;
~
covenants on ~their part hereby made ~nd entered into, thi s Agree- ;
:
;
~ ment, shall, afi the option of ~he parties of the frist part, ~
~1 ~
be forfeited and #exminated, and the parties of the second part ~ ~
~
~i shall forfeit all payment~ made by them under this Agreement; ~ ~
t 1
and such a ;
~ p yments shall be re~ained by the said parties of the ~
t . ~ j
first art toward sat~.sfaction and li ui •
P q datian of all damages ~
~ ~
4~ by them sustained,-• and fihe said paxties of the first part shall ~ ~
~
~ ~j have ~he right to re-enfier and take possessi~n of the premises ~
t ~
aforesazd without being liable to any action therefor. The ~
parties of the secorid ~art are given the express pri.vilec~e of
.
~ making 'two or more payments on any installment due date vlithout
(1
_ (~penalty, but the making of such addxtional vayments shall not
~
(
1
~
i~
,
BOOK ~ii~ c1t1