Common use of Remedies of Parties Clause in Contracts

Remedies of Parties. A. If BUYER fails to timely perform this Agreement, SELLER may forfeit it as provided in the Iowa Code (Chapter 656), and all payments made shall be forfeited; or, at SELLER’S option, upon thirty (30) days written notice of intention to accelerate the payment of the entire balance because of BUYER’S default (during which thirty days the default is not corrected), SELLER may declare the entire balance immediately due and payable. Thereafter this Agreement may be foreclosed in equity and the Court may appoint a receiver.

Remedies of Parties. A. If BUYER fails to timely perform this Agreement, SELLER may forfeit it as provided in the Iowa Code (Chapter 656), and all payments made shall be forfeited; or, at SELLER’S 'S option, upon thirty (30) days written notice of intention to accelerate the payment of the entire balance because of BUYER’S 'S default (during which thirty days the default is not corrected), SELLER may declare the entire balance immediately due and payable. Thereafter this Agreement may be foreclosed in equity and the Court may appoint a receiver.