This agreement made and entered into this ...... day of

......, 19...., between ......, party of the first part, and

......, party of the second part, witnesseth:

That if the party of the second part shall first make the payments and perform the covenants hereinafter mentioned on......

part to be made and performed, the said party of the first part hereby covenants and agrees to convey to the said party of the second part, in fee simple, clear of all incumbrances whatever, by a good and sufficient warranty deed, the lot and piece or parcel of ground, situate in the county of...... and city of ......, known and described as follows, to-wit: (describe).

And the said party of the second part hereby covenants and agrees to pay to the said party of the first part, the sum of.....

dollars, in the following manner, to-wit: with interest at the rate of......per cent. per annum, payable......annually, on the whole sum remaining, from time to time, unpaid, and to pay all taxes, assessments or impositions that may be legally levied or imposed upon said land, subsequent to the year 19..... And in case of the failure of the said party of the second part to make either all the payments, or any part thereof, or perform any of the covenants on ......part hereby made and entered into, at the time and in the manner herein provided, this contract shall become and is hereby made a lien on the above described tract from first party hereto to second party, and the payments herein provided for shall be and are hereby made a lien upon said premises for the several terms between the time of said payments, and upon such failure this contract shall, at the option of the party of the first part, be forfeited and determined, and the party of the second part shall forfeit all payments made by ......, and this contract and such payments shall be retained by the said party of the first part in full satisfaction and in liquidation of damages by......sustained, and......shall have the right to re-enter and take possession of the premises aforesaid.

The second party shall also procure insurance on the building or buildings now on said land, or that shall be hereafter erected on said land, for such sum as the same can be insured for, not to exceed the amount due on this contract, in some good company or companies, to be selected by the first party, such insurance to be for the benefit and for the further security of the first party.

It is mutually agreed, by and between the parties hereto, that the time of payments shall be of the essence of this contract, and that all the covenants and agreements herein contained shall be understood to be obligatory upon the heirs, executors, administrators and assigns of the respective parties.

In witness whereof, etc.