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<br /> 7s— �} Oa5 � �
<br /> 1 . The seller and buyer aqree that when there is more than
<br /> r one seller or buyer that they shall be jointly and severally liable r
<br /> I : hereunder . f
<br /> 2 . Said buyer agrees to make the payments herein provided for
<br /> according to the tenor and effect of this agreement and this
<br /> agreement shall be and remain security for the payment of the same .
<br /> 3 _ Said buyer agrees to keep all buildings , fences , fixtures ,
<br /> and other improvements now or hereafter placed on �id premises in
<br /> good condition and repair ; not to commit or permit waste on said
<br /> premises ; to keep the buildings on the premises occupied ; not to use
<br /> or allow the premises to be used for any unlawful purpose .
<br /> 4 . Said buyer agrees to pay all taxes , assessments , and public
<br /> charges already levied or assessed or that may hereafter be levied
<br /> or assessed upon or against said land , premises , and property hereby
<br /> sold , also , all personal taxes which may become a lien on said premises
<br /> when due and payable according to law , and to pay all said taxes ,
<br /> assessments , and charges before the same become delinquent , and to
<br /> procure and deliver to the seller before the day fixed by law for
<br /> interest and penalty to accrue thereon the official receipt of the
<br /> property officer showing payment of all such taxes and assessments ;
<br /> and if not so paid the seller may elect to pay such taxes or assessments
<br /> at any time , or redeem from any tax sale therefor , and be entitled
<br /> to interest on the same at the highest lawful rate , and this agreement
<br /> shall stand as security for the amount so paid , with interest as above
<br /> specified .
<br /> 5 . Said buyer agrees to }ceep the buildings , whether ziow
<br /> standing on said premises or hereafter erected , continuously insured
<br /> against loss or damage by fire , windstorm , extended coverage and
<br /> such other hazards as the seller may from time to time require , all
<br /> such insurance to be in an insurance company or companies and in
<br /> terms acceptable to the seller , with loss , if any , payable to the
<br /> seller and buyer as their interes�s may appear pursuantt�o purchase
<br /> agreement clause attached which shall be satisfactory to the seller ,
<br /> and forthwith , upon the issuance of suchpolicies , to deliver the same ,
<br /> also renewals thereof , to said seller , and also to deliver to the seller
<br /> the receipt for payments . In the event of foreclosure of this
<br /> agreement , or other transfer of title to the property covered hereby
<br /> in extinguishment of the indebtedness secured hereby , all right ,
<br /> title and _�nterest of the seller in and to any insurance policies
<br /> then in force concerning this property shall pass to the purchaser
<br /> or assignee .
<br /> 6 . Buyer shall forthwith procure insurance aforesaid upon the
<br /> buildings upon said premises with purcYiase agreement endorsement
<br /> thereon, payable to seller and buyer as their interests may appear
<br /> in amount set forth in paraqraph 20 hereof and seller is hereby
<br /> authorized to collect any losses under insurance policies on said
<br /> property and , after deducting the cost of collection , to apply the
<br /> proceeds , at seller ' s election , as follows :
<br /> ( a ) As a credit on the contract debt , whether principal ,
<br /> interest , or amounts advanced by the seller under any of the covenants
<br /> herein , without regard to whether any or all of said sums are due or
<br /> not ; or
<br /> (bj To restoring the improvements without however becoming
<br /> accountable to the buyer for interest on the money while held for
<br /> this purpose ; or
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