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(3) The Purchasers are entitled to take possession of said promises and fixtures on the let day of May, 1958. (4) The Sellers agree, ors full payment of said purchase price in the manner hereinbefore specified, to make, execute, and deliver to the Purchasers a good and sufficient warranty deed conveying a market- able title to the Purchasers free and clear of all lions and encumbrances to said described promises. Sellers agree to furnish to Purchasers an abstract of title to the said described premises, brought down to date, for examination by the Purchasers, on or before May 15, 1958. Purchasers shall have until June 15, 1958, to examine said abstract of title and to submit in writing to sellers any objections to the Sellers' title to said described premises. If Purchasers make any objection to Sellers' title to said described premises, Sellers shall have a reasonable time to correct any defect in their title to said described premises, so that the abstract of title will show good and marketable title to said described promises in Sellers. (5) Sellers agree that they will not encumber or in any way impair the said title to. the premises and that at the time of the consu.-mation of this agreement and the delivery of warranty deed, the abstract shall again be brought down to date and disclose the same good and marketable title in the Sellers as now exists, and disclosed by said abstract, except as to any liens, encumbranees, conveyai-ices,or impairments caused by the acts of the Prrchssers. Upon 7Leii-very of said warranty deed as aforesaid., said abstract of title shall likewise be delivered to the Purchasers. (6) Sellers agree to pay all real estate taxes on said describe,l prew.-Ilses for the year 1957 and all. prior years. Real estate taxes on said described premises for than year 1.938 shall be pro-rated between the pnrties hereto, the Sellers to pay one-third of said taxes and the Purchasers to pay two-thirds of the said taxes for the year 1958. F'urchasers agree to pay all real estate taxes for the year 1959 and all subsequent years, in addition to two-thirds of the real estate taxes for 1958. Purchasers farther agree to pay all assessments of. f whatsoever naric or nature which may hereafter become due and payable upon said real estate or are a charge thereon. (8) Purchasers agree to keep the building upon said described premises insured against fire, in a standard, responsible insurance company, In the sum of 63P000.00., or in the aaiotint of the; 1),Olaaco of the pur,31hese price then remainirg and to pay nnd' discharge the premiums fnr such In.surance as they become due and pay-able, with provision in said insurance policy that less, if any, shall be payable, to the Sellers as their Interest shall appear. Upon failure of Pup- chasers to'pay any of the said taxes or assessments •1hen sloe or to keep said property insured as aforesaid, the Sellers may at their option pay and discharge the said taxes and cause spid premises to be insured and pay the pre un therefor, such payments thereupon to become added to the purchase price and to bear interest at the same rate of 3%, provided, however., that all svch advancements so made L-y the Sellers shall be immediately repayable and shall. not be construed as a waiver of Purchasers' default in respect to such payment for taxes and insurance. (9) Time is of the essence of this contract. In case the Purchasers shall fail to make any payment of the said purchase price promptly at the time the same shall fall due as hereinbefore specified, or promptly to perform any covenant or ae-greem.ent aforesaid, the Sellers may elect to declare forfeiture and cancellation of this contract and upon such election being made all rights of the purchasem hereunder shall cease and determine and any payments theretofore made hereunder by the Purchasers shall be retained by the Sellers in liquidation of all damages -2-