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will again have such abstract of title certified to that date <br />to show merchantable title to such real property in the ven- <br />dors, free of any encumbrances and liens incurred by the ven- <br />dors, building restrictions and easements of record on the date of <br />this contract excepted, and further subject to all encum- <br />brances and liens incurred by or permitted thereon by the pur- <br />chaser, and that they will, at their own costs and expense, <br />execute and deliver to the purchaser, a warranty deed to said <br />premises, free and clear of all liens and encumbrances except- <br />Ing as hereinbefore set out. <br />IT IS FURTHER UNDERSTOOD AND AGREED that the purchaser <br />shall receive credit on this contract for all sums paid to the <br />vendors since the ist day of Larch, 1957, the date that the <br />purchaser took possession of the premises. The vendors, how- <br />ever, to deduct from the credit given for each month's payment, <br />Interest at 5-I a per annum on the principal sum hereof and a <br />sum equal to one - twelfth {1/12} of the real property taxes. <br />The vendors further agree that they gill, from the payments <br />hereinbefore provided, pay all taxes and assessment* that may <br />accrue or be levied upon such real :property; the purchaser to <br />keep the buildings on such real property insured against loss <br />by fire and, %ri nd for the sum of at least Six Thousand Uollars <br />($6,000.00), loss, if any, to be payable to the parties hereto <br />as their interest may appear at the time of such loss. <br />The purchaser further agrees that she shall not commit, <br />permit or suffer any waste to the property and shall keep and <br />maintain the same in good condition and repair. That the pur- <br />chaser shall not and will not permit any claims or liens to be <br />levied against the said property or any lien to be attached <br />thereto by reason of any repairs or improvements. <br />IT IS FURTHER UNDERS7WO AND AGREED by and between the <br />varties hereto that if the purchaser fails, refuses or neglects <br />to pay any of the payments herein provided for, for a period <br />of thirty days, time being of the essence of this contract, <br />or fails or neglects to keep and perform any of the terms and <br />conditions of this agreement on her part to be performed„ that <br />the ve ndors may# at once and without notice, declare the whole <br />amount of the purchase price remaining unpaid, due and payable, <br />and such delinquency in payment, or the failure in other re- <br />spects by the purchaser to perform the stipulations of this <br />contracts or any part of theo►, shall entitled the vendors to <br />Immediately take possession of the premises described herein, <br />and the purchaser shall forfeit all payments made under this <br />contract and agreement, such payments to be considered and <br />treated as rent for the use of the premises. <br />IT IS FURTHER AGREED that the rights and remedies of the <br />vendors under this contract shall be cumulative and that no <br />right or remedy hereunder shall be exclusive of any other right <br />or remedy as provided for in this contract or otherwise provided <br />for by law. <br />IT IS FURTHER UNDERSTOOD AND AGREED by and between the <br />parties that this contract shall not be assignable by the <br />purchaser unless the consent to such assignment, in writing, <br />shall have been first obtained from the vendors. <br />Its WITNESS W a the parties hereunto have subscribed <br />their names this day of November, 1951% <br />