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<br /> defeulted in their payment� ta sEL�R8 L:tlder thie oontrect, ths ,•
<br /> BUYER3 sh�ll nat be euthorized to toke advantege of euch defeuX�
<br /> � �i.n payment on the Federal LanB Aank•e mortgage, 'beoause euoh f�i1-- .'
<br /> ure was due to the �sult of .the BUYERS of i;li� propertq. Should
<br /> �uoh a oiroumstanae oecur and the Escrow Agent ie unabla to mako •
<br /> the peywent in fu11 that is due the Federal Lend Hank, beoau�e :
<br /> suffic�.ent funds have not baen paid to hira by the BUYERS for the �
<br /> SELLERS' benef3t, the SELLERS sha7.1 heve the ehoioe, option and �
<br /> e7.eetian either to malce auah pgyment to the Federal �+and Bank out �
<br /> of their pwn pereonal funds, and euQh edvenoe shell be a further ,
<br /> obli�etion of the DI�YERS end shall beer intereat at the highee� ;+: . �
<br /> legal rate fxom the date of the �dvez�.oeme�.t by the SELLERS until �; �
<br /> ;,.
<br /> �,�:,. repaid by the BUYERS, or in the alternetivc�, the SELLERS may��elect �
<br /> �.�;r •
<br /> �.,,
<br /> to dealare a defeult in this entire oontreet, in the menne� here-
<br /> . ;�c,�; a fter provided and tes�ninate the same, pxovided euoh �defaulted pey-
<br /> ment Yaes not beer. x�ade good by the BUYERS to the ;SES�ZERS wi.thi.n e ,
<br /> `°�'�. ���- . period of s3.x (b} months from the d�te o� �the advancement of fun,de
<br /> '� �f;� 1-� by the SET,I�ERS with wh3oh the payment dus the Fedexal Land Bank �is:
<br /> • ����:� .
<br /> �����«:. �:,�� made. ..
<br /> �e ,�.' y
<br /> n i2 •
<br /> _,7�,�.��, (b) I�t a �nanner similar to that provided in Paragraph
<br /> '.'-''fi�� (a), above, where the advanoement is made direotly by the SEZI,ERS
<br /> �i�:��!:a�' of the property to the Federel Land Honk� in the event thet the
<br /> ♦!'.. r.. '.
<br /> � , ,,+�.:,�:-�i, _ � HU'YERS of the property sha11 feil to raeke payment to the SELI,ERS,
<br /> .�, ,., �;.�'r,:?��-
<br /> ��..,�����'�' through the Es orow Agent, of funds with which to meet ell oblige-
<br /> .�t�n. :
<br /> tior�e at the time they acorue, 3noluding the instencea where ed- .
<br /> ' •- �~.�•
<br /> �;" Y''.:*�;�*� vanaements ara made by the Eaarow Ag�nt fram funds paid to him on ,
<br /> "a r �:�:�;�., ����° =�'`'` behalf of the SELLERS, within a ix (6) montha from the dtte da te of +
<br /> .«.. •s;:�:::�.. , "`".
<br /> `;.'�'+�:�� � ' . , the obligat3.on, or within six (6) months of the advsncement by the �
<br /> "'°�'� � ' Esarow Agent of funds to SELLERS' �oaount to pay obligetions of
<br /> �� , the BUYERS, then the SELT�ERi may, at their eleo�ion, either waive
<br /> �F?�'�.`. ��„
<br /> ,�:, the ri�ht to dec].are a def�ult 3n a particuler instanae, wh3.ch � •.
<br /> • ,. � weiver shall not constitute e precedent, and the failure to act, � �-:.
<br /> or �o make an eleotion, or to exeroise an optioxi, to deolare a de- i �
<br /> , :
<br /> � ;' fault, sha11 not bar the SELLERS from taking suah action at a � ,
<br /> � ���"' �uture time with reference to a subsequent default. '
<br /> �, �
<br /> �. . " . �
<br /> - (o) In the event that a default shall occur, inclttding �
<br /> � all of the default� referred to in Paragraphs (a) and (b), above, �, .
<br /> or in any other eituation where the BUYERS are obligeted to make � �
<br /> ; -
<br /> " � a loayment or to take some action aQaord3ng to the terms of this ;
<br /> . €: '� ' contract but shell default in makin� auah payment or teking suoh `
<br /> acti.on, then, depending ozi the neture of the default, ee will here- ;
<br /> � ��;�;;���� after be more t'u�ly oxpla3.ned, written notiQe sha11 be given by ��
<br /> r. s' the SELLERS to the BUYERS or by th�s Esorow Agent, on behalf of the ;
<br /> � �'�'�� . SELLERB, to the BUYERS, +�nd �.f, within e period of six (6) months a
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