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�... 83-• 001147 monthly installments shall include interest at the rate of twelve (12) per cent per annum computed monthly on the unpaid portion of principal; provided, however, that the entire unpaid principal balance shall be due and payable on or before September 1, 1987. The monthly installments of principal and interest as hereinabove set forth shall be paid in consecutive monthly installments of $440.95, which shall be due and payable on the first day of each calendar month commencing on September 1, 1982 and on the first day of each and every month thereafter until paid in full. 4. From and after the closing date, the Purchaser at its sole cost, shall keep all buildings that may at any time be on said property insured against loss by fire with extended coverage endorsement in an amount of not less than the extent of the Seller's interest in this Land Contract. If the Purchaser fails to procure such insurance or pay for said insurance, the Seller may procure such insurance or pay for such insurance and all money paid for the same, shall be properly charged to the Purchaser. Currently said figure is set at $50,000 and may be adjusted to reflect increases or decreases. All real estate taxes shall be prorated to date of closing and Seller shall pay all taxes for 1981 and prior years. In the event Purchaser fails to pay said taxes, Seller may pay them and demand immediate reimbursement from Purchaser. In the event Purchaser shall fail to comply with such demand, Seller may declare the entire balance hereof to be immediately payable. 5. Payments shall be applied first to interest, taxes and insurance, and then to the principal,. Purchaser shall have the right of prepayment of all or any part of Lprincipal at any time without penalty. In the event of any prepayment, this Land Contract shall not be treated as it, Mi