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7. Default. If Purchaser shall fail for a period of 30 aays
to (1) pay Seller any of the sums herein agreed to be paid, either as
installments on account of principal or as interest, after such sums
are due, or (2) pay taxes or assessments on the property af ter the same
become due, or (3) comply with any of the covenants on his part to be
ke~t and performed, then Seller shall be released from all obligation
to convey the property, and Purchaser shall forfeit all right thereto,
and all payments theretofore made by Purchaser under this agreement ;
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shall be considered compensation for the use and occupancy of the pro- '
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perty, and shall be retained by Seller.
8. Time of essence. Time is of the essence of this agree-
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ment. ~
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9. Bindinq effect. The terms, condi.tions, and covenants of ~
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this agreement shall be binding on and shall inure to the benefit of ~
the heirs, executors, administrators, and assigns of the respective
parties, but no assignment or transfer by Purchaser of this contract,
or of his interest in the property described herein, shall be valid,
unless made with the written consent of Seller.
IN WITNESS WHEREOF, the said parties have hereunto set their
hand on the day and year first above written.
In the presence of: ,
~~Z.L,C~-f st~ ~li }~L---/_ . l .
CINDY M. B IGNI ~
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FRANCIS P. BISIGNI
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BOOK 576 PAGE c70~