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(~ ~ • ennk ~11~ PAGf I ~C.O property in 'the condition in which it is left f_ollowir; such taking, with an abatement of the purchase pr.i.ce measured by the proceeds of any condemnation award allowed, and in arty case in which the ataar.d has not been collected by Sellers at the ::i_me of closing, an assignment by Sellers of all rights to the collection of any such award shall be in full satisfaction and discharge of Sellers' obligations with respect to the matters referred to in this subparagraph; b. In the event of taking of an immaterial part of the property, this agreement shall rem<sin in full force and effect with an abatement of the purchase price measured by the proceeds of any condemnation award allowed, and in any case in which tl~e award has not been collected by Sellers at the time of closing, an assignment by Sellers of all rights to the collec- tion of any such proceeds or award shall lie i.n full satisfaction and discharge of Sellers' obligations with respect to the matters referred to in i:his subparagraph; and c. An immaterial part of the property shall have been deemed to have been taken if the vaJ.ue shall be $25,000.00 or less. ' 19:: Default - Time of the Essence. Time i.s of the essence hereof, and in the event that the Buyers shall fail to make any of the payments due hereunder as herein provid~:J or that either of the parties hereto shall fail to do or perform any of their respective obligations hereunder in I:li•• time provided, then the party not in default ]hereunder r,;iy terminate this agreement by first giving the defaulting party notice in writing of the default compl~iined of: and i~ such default is not cured or corrected within a period o: thirty (30) days after the delivery of .such written noti..•~~. this agreement shall be effectively terminated. Iii tl~~~ event of such termination upon the default of the Buyer::, . <: the Sellers may, at their election, retain a). 1. sums h.~id l•: _ -~` sSCz ::~z^: -15- :. : :