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Purchaser free and clear of encumbrances except any subsequent real <br />property taxes or special assessments levied and assessed against <br />the property, and further, such deed to be subject to any encumbrances <br />or liens incurred or permitted thereon by the Purchaser, and the <br />Vendors hereby specifically authorize and empower such escrow <br />agent to deliver such warranty deed and abstract of title to the <br />Purchaser, its successors or assigns, upon the payment by the <br />Purchaser, its successor or assigns in full of the purchase price, <br />interest and advances, if any, by the Vendors for taxes or insurance. <br />The Vendors further agree to pay for the required Federal documentary <br />stamps at the time of the delivery of such deed. <br />The Vendors further agree to deliver possession of such real <br />property to the Purchaser upon the 49 day of 1960, <br />upon the payment of the sum of Seven Thousand Five Hundred Dollars <br />($7,500.00) as hereinbefore provided. <br />The Purchaser covenants and agrees to pay all taxes and <br />special assessments that may accrue or be levied upon such property <br />subsequent to the taxes for the year 1959, and to pay all other <br />taxes, levies and assessments levied upon this contract or the <br />interest of the Vendors therein as the same become due and before <br />they become delinquent; to keep the buildings which may be now <br />located or hereinafter located on such real property insured for <br />loss against fire and other casualty for a sum of at least 901. of <br />the value of such improvements, loss, if any, to be payable to <br />the parties hereto as their interest may appear; that if the <br />Purchaser shall fail to pay such taxes or assessments or procure <br />such insurance, the Vendors may pay such taxes or assessments and <br />procure such insurance, and the sum or sums so advanced with <br />interest at 6% per annum shall be paid to the Vendors and this <br />contract shall secure the payment of the same. <br />It is understood and agreed that the Purchaser may repair, <br />improve, alter or remove any or all of the structures or <br />improvements now located on the premises in any manner it shall <br />see fit and may construct any structures or improvements thereon <br />