deliver a good and sufficient Warranty Deed to the purchaser,
if he so demands, at any time after he shall have paid fifty
(50) per cent of the purchase price Thereof and upon his execution
and delivering to The Florida Formosa Company unto for such
parts of the purchase price of said land as may, at the time of such
demand, remain unpaid secured by Mortgage.
It is mutually agreed That when fifteen (15) per cent of the said
purchase price shall have been paid, The Florida Formosa Company
shall grant fifteen days grace on each monthly payment:
That when Thirty (30) per cent of said purchase price shall have
been paid, The Florida Formosa Company will grant thirty
(30) days grace on each monthly payment: and when fifty
(50) per cent of said purchase price shall have been paid,
The Florida Formosa Company will grant sixty (60) days
grace on each monthly payment. And that no interest shall
be charged on such deferred payments during such days of grace.
In the event of the death of the purchaser before completion
of this contract, The Florida Formosa Company agrees that the
heirs of the purchaser shall succeed to all his rights, title and
interest in said contract, that such heirs of the purchaser
may continue performance of this contract as fully and
completely as the purchaser could do in his lifetime, and
the Florida Formosa Company further agrees to deliver a warranty
deed to said property to such person as may be nominated
by the said heirs upon the fulfilment of the conditions of this
contract. Furthermore, notice having been given The Florida
Formosa Company within Thirty days of such death, the heirs
shall be allowed two years grace in which to resume pay-
ments, or to sell their equity, without paying interest, with-
out any penalty whatsoever, and without paying any advance
in the price of land which may have taken place within the
said two years: provided, however, that in the event payments
are not resumed within six months from the death of the
purchaser, The Florida Formosa Company shall then have the
option of canceling the contract by paying back to the estate
of the deceased all money received from the purchaser,
together with the interest at the rate of six (6) per cent per annum.
It is mutually agreed that, after the purchaser shall
have made his first monthly payment, the purchaser may
upon prior notice to the Florida Formosa Company, assign
and sell this contract to any person and that such