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r 4. Time is of the essence of the Contract. Buyers agree that if they fail to pay any taxes or assessments or insur- ance premiums, as provided, Sellers may pay such taxes, assessments of premiums, and the amount so paid shall be due and payable immed- iately by Buyers to yellers without notice of demand, and shall become a part of the principal balance of the Contract. 5. If Buyer fails to pay any amount due under the terms of the Contract, or if Buyer fails to perform any of the other terms, covenants, or agreements to the contract, or if Buyer shall abandon the sale property, the whole of the indebted- ness due under the Contract, together with any advances made by Seller, shall become immediately due and payable at the option of the Sellers without notice or demand, and Sellers may proceed to foreclose the contract in the manner provided by law. 6. Failure of the Sellers to exercise any optional remedy hereby specified at the time of any default shall not operate as a waiver of the right of Sellers to exercise such .~..~ ~.-...-1 ._.. _.._ __.._ .. optional remedy for the same or a~iy su-z55C:~-c-~.=-~~-A~.~== time thereafter. 7. Buyers have the right to prepay the entire amount of the Contract at any time during the. term of the Contract, wi*_h no prepayment penalty being assessed against them. 8. Buyer specifically will not permit waste on the premises, and keep the premises in good repair, reasonable wear and tear accepted. 3uyer shall not be entitled to make any repairs or alterations on the premises which might result in a lien against the premises in excess of 51,600, without first obtaining the ~rritten consent of the Sellers. This pro- vision does nvt consitute uermission to make any such repairs or improvements not in excess of the foregoing amount. This does not constitute, nor is there any restriction against Buyer's obtaining subsequent martgages to this Agreement, subordinate to the inter=sts of Sellers. 9. It is agreed between the parties to the Contract that no person shall giver be entitled to any liens, directly or indirectly deriving through or under the Buyers, or through any act or omission of them superior to that in the Land Sale Contract reserved to Sellers upon the land or the improvements thereon. All persons £urnishiny any such labor or materials, as well as any other persons whomsoever, shall be bound by the arovisions of the Contract, and by notice thereof, from and after the date of the filing of the Memorandum. 10. The Can tract shall not ne assigned by Buyers without written permission of the Sellers, which permission shall not be unreasonably withheld. I1. The Warranty Deed from Sellers to Buyers has been executed and is escrowed under the terms of the Escrow Agreement provided for in the Land Sale Contract, and is to be delivered to Buyers upon completion of the terms and conditions provided for in the Contract. 12. The ~te;norandum of Land Sale Contract is subject to terms, conditions and restrictions contained in the Land Sale Con- tract between Sellers and Buyers of even date herewith. Any conflict between provisions of this Memorandum and the Land Sale Contract itself are inadvertent, and in the event of a conflict the provisions of the Land Sale Contract shall prevail. Idd ',dIT'~ESS 6dHE?2EOF , *_he parties have executed this ;r-3morandum this __.3rd day of ___JUI~_____._~____~ 1481. A. ~d. RECRLuR .._, , .T t3%SiTts K. Bf~:.KI,Efi2 '~~ E?sLt~; I~ ..fir