§ 8-8. Contracts for sale of lots.

The City, through the City clerk, may enter into a contract with any person to sell grave spaces, which contract shall provide that the purchaser shall pay twenty percent of the purchase price on the signing of the contract and the remaining balance shall be paid in twelve monthly installments, together with interest at eight percent per annum on the deferred balance, and the first such installment shall be due and payable on the day of the month following date of the contract. In the event burial and a contract shall be entered into with the City and the purchaser of the burial lot providing the terms of payment for such space together with perpetual care at the rate fixed by the resolution of the City council for single grave space with perpetual care. In the event the purchaser's contract becomes in default for a period of one year, after thirty days' notice given by the City clerk to the purchaser by first class mail to the last known address of the purchaser, the contract shall be cancelled, and the buyer shall be entitled to deeds to as many grave spaces as he has paid for by applying his payments upon the principal amount of the contract at the rate fixed by resolution of the council. Any remaining balance that has been paid shall be forfeited to the City as liquidated damages for the breach of such contract, and all rights, title and interest in the remainder of the grave spaces so purchased under the contract shall revert to the City, to the exclusion of any interest whatsoever in the purchaser.