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lII 'title 1. Seller agrees to furnish Buyer with abstract of title showing merchantable title to said real estate. In case Buyer's attorney makes obJection to the abstract of title, the Seller shal3 have sixty (60) days from the date that Buyer notifies Sellers cf such defect to correct same. If Seller fails or refuses to correct anv defects in title Buyer shall be entitled tc rescind this contract ar,d receive back from Seller all payments made hereunder. 2. Buyer agrees pat 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 Survivorship L~rarranty Deed conveying the real estate to `the Buyer shall be placed in escrow with the Escrotr Agent hereinafter named and upon, full payment of all principal installments and accrued interest by the Buyer and the performance of the Buyer of all covenants end conditions which, by the terms of this Contract, are .*.o be per- formed by the Buyer, or its successors, heirs, nominees er assigns, the Buyers shall be entitled to the delivery of the Deed from the Escrow Agent. Sufficient revenue stamps shall ba placed upon said Deed at the expense of the Buyer. IV. Remedies on Default 1. In case the Buyer is in default for a 45-day period on arry payment due under this contract, the entire amount owing on this Contract shall become due and payable at once at the option of the Seller. Buyer shall be entitled to written notice of 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 force the delivery of the Warranty Deed from the Escrow Agent and the Seller by an aetian for specific performance if said Deed is not delivered after all payments due under this contract t.ave bean made and all other conditions and covenants have been met by Buyer. t~ . Fisk of Loss 1. Seller assumes full risk for any damage, loss ar destruction to the real estate, from the date hereof, and in connection therewith, shall maintain. in working condition., all heating, air-cenditiening, water, sewer, plumbing, and electrical systems and any built-in appliances located on the real estate. In the event that anv such damage, lass or desctruction shall occur before the Closing dat°, seller shall pair any costs of restoring, rebuilding, repairing, or replacin~~; the real estate to a condition at least comparable to its previous condition; provided, however, that in the avert that any such loss, damage cr destruc- tion to any parcel of the real estate is rr.aterial, either party shall have the option to rescind this Agreement. Lf such rescission shall occur, Seller shall refund to Buyer all payments previously paid and neither party shall thereafte~° have an,y .urt~•r r~•„t~orz~-ibiiit;, tc t't~.e other. Buyers hereby agree to assume all risk of darnaf~e, loss or destruction to the real estate from and after the closing date. 2. Buyer agrees tc maintain at its expense fire and extended coverage insurance on the real estate and its contents ir, a eomparry approved by the Sellers 3n amounts at least equal to the total unpaid balance due under this contraot, duly endorsed to show the 5e11er's interest and to provide Seller with certificates from insurers evidenc- irig-such insurance in fare: 2.