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prep_aymentJihall not postpone the due date of the installments to be paid pursuant to this contract or change 'he amount of such installmentS. 6. REAL ESTATE TAXES AND ASSESSMENTS. Purchaser shall pay. .before penalty accrues. all real estate taxes and installments oJ special assessments assessed against the Property which are due and payable in the year 1999 and in aU subsequent years. Real estate taxes and installments of-special assessments which are due and payable in the year in which this contract is dated shall be prorated between the SeUer and the Purchaser. Seller agrees to pay on the date of dosing aJIspeciaJ assessments levied and pending. Seller shaUpay all Green Acres tax recapture. The Seller shall also install sewer-and water to the property line on or before September I, 1998 at Seller1s expem;e. City assessments for this cost to be paid by SeIler as due with balance to be paid off -at the time Buyer pays off-this-Contract for Deed. Seller warrants that the real estate taxes and installments .of special.assessments which were due and payable in the years preceding the year in which this contract is dated are paid in fulL 7. PROPERTY INSURANCE. Not Applicable (Vacant Land). (a) INSURED.R1SKS AND AMOUNT_ Purchaser shalLkeep all buildings, improvements. and fixtures now or later located on or a part of the Property insured against loss by fire. extendedco~.erage.pe.rils, vandalism. malicious mischief, and, if applicable. .steam boiler explosion for at least the amount of {vacant land). If any of the buildings, improvements. or fixtures are located in a federally designated flood prone area, and if flood insurance is available for that area, Purchaser shall procure and maintain flood insurance in amounts reasonably.satisfactory to.Seller. (b) OTHER TERMS. The insurance policy.shaIl contain a loss payable clause in favor of Seller which provides that Seller's right to recuver under the insurance shall not he impaired by any acts or omissions of Purchaser or Seller, and that Seller shall otherwise be afforded all rights and privileges customarily provided a mortgagee under the.so-called standard mongage clause. (c) NOTICE OF DAMAGE. In the event of damage to the Property by fire or other casualty, Purchaser shall promptly give notice of such damage to Seller and the insurance company. 8. DAMAGE TO THE PROPERTY. (a) APPUCA nON OF INSURANCE PROCEEDS. If the Property is damaged by fire or other casualty, the insurance proceeds paid on account ()f such damage shall be applied to.payment of the amounts payable by Purchaser under this C()ntract. even if such amounts are not then due to aepaid. unless Purchaser makes apermitted election described in the next paragraph. Such amounts ..shall be fust applied to un.paid accrued interest and next 10 me installments .to be 'paid as provided in this contract in the inverse order of their marurity. Such payment 3