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79- vt,1706 III. Title 1. Seller agrees to furnish Buyer with abstract of title showing merchantable tiitle to said real estate. In case Buyer's attorney makes objection to the abstract of title, the Seller shall have sixty t6o~ days-from the date that Buyer notifies Sellers of such defect to correct same. If Seller fails or refuses to correct any defects in title Buyer shall be entitled to rescind tY;is centra.ct and receive back from Seller all payments made hereunder. 2. Buyer agrees not to place or to allow to remain if placed by others, any liens or encumbrances upon the real estate until Seller is paid in full under this contract. 3. A Surviuorship Warranty Deed conveying the real estate to the Buyer shall be placed in escrow with the Escrow Agent hereinafter named and upon full payment of alI principal installments and accrued interest by the Buyer and the performance of the Buyer of all covenants and conditions which, by the terms of this Contract, are to be per- formed by the Buyer, or its successors, heirs, nominees ~r assigns, the Buyers shall be entitled to the delivery of the Deed from the Escrow Agent. Sufficient revenue stamps shall be placed upon said ~~a ~ ~~_ vccu az. v::c expert5e vf- the Buyer. I~. Remedies on Default 3. Zn case the Buyer is in default for a 45-day period on any payment due under this contract, the entire amount owing on this Contract shall become due and payable at cnce at the option of the Seller. Buyer shall be entitled to written notice off' the same if the Seller elects to exercise the option to make the balance due under this contract. If the balance due and payable is not made within 30 days of written notice or other agreeable terms established, Sellers may fore- close this Contract in the manner provided by law for the foreclosure of real estate mortgages. 2. At any time before default is declared by Seller, Buyer may fence the delivery of the Warranty Deed from the Escrow Agent and the Seller by an action for specific performance if said Deed is not delivered after all payments due under this contract have been made and all other conditions and covenants have been met by ?uyer. ~. Risk of loss 1. Seller assumes full risk for any damage, loss or destruction to the real estate, frog: the date hereof, and in connection therewith, shall maintain in working condition, all heating, air-conditioning, water, sewer, plumbing, and electrical systems and any built-in appliances located on the real estate. In the event that any such damage, loss or destruction shall occur before the Closing date, Seiler shall pay any casts of restoring, rebuilding, repairing, or replacing the real estate to a condit_on at least comparable to its previous condition; provided however, *_,,at in the event that any such less, da:^age or destruc- tian to any parcel of the real estate is Taterial, either party shall have the option tc rescind this Agreement. Zf such rescission, shall occur, Sel32r shall refund to Buyer all payments previously paid and neither party shall thereafter have any furter resporisibility to the other. $uyers herebp agree to assume all risk of damage, Loss or destruction to the real estate from and after the closing date. 2. Buyer agrees to maintain at its expense fire and extended coverage l.nsurance on the real estate and its contents in a company a~roved ~Sy the Sellers in amounts at least equal to the total unpaid hale duo under this Dantract,,duly endorsed to show the Seller's interest and to provide Seiler with certificates from insurers evidene- suc3~ insurance in force. -~-