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(b) It shall not be the duty or obligation of the escrow -agent to enforce <br />any of the terms of this Contract, but only to take, receive, receipt <br />for, and deliver to the parties entitled thereto the papers endorsed <br />to it, and to take, receive, receipt for, and disburse the moneys <br />paid to it to the persons entitled thereto under the terms of this <br />Contract and Agreement. <br />(c) In event of default, breach, or violation, by the Second Party, in <br />any of the provisions of this Contract, and the First Parties desire <br />to declare a forfeiture hereof, the escrow -agent shall deliver to the <br />First Parties, or anyone in their behalf, including their successors, <br />administrators, executors, or assigns, all instruments held by it, <br />including the Warranty Deed, on thirty (30) days' written notice to <br />the Second Party of such declared forfeiture; and demand for such <br />instruments, along with an affidavit of service of the notice, shall <br />require the escrow -agent to deliver such instruments to the First <br />Parties. <br />XVI. <br />It is mutually agreed by and between the parties hereto, that the time of <br />payment shall be of the essence of this Contract, except as set out in Paragraph <br />XI; and that the covenants and agreements herein - contained shall extend to and <br />be obligatory upon the heirs, executor s, administrators, successors, and assigns <br />of the respective parties. <br />IN WITNESS WHEREOF, the parties to these Presents have hereunto set <br />their hands and seals in duplicate, the day and year first above written. <br />Walter M. Cummin <br />Ruth E. Cumin ing s <br />FIRST PARTIES <br />BOSS HOTELS <br />COMPANY, <br />a Cor�pc�tioux, <br />�.. <br />President <br />SECOND PAc1�Y <br />Al <br />x. i <br />• to��l) <br />-7- <br />