Term Clarification Required

Hi,

I am looking for some answers to what the following two statements/clauses from an agreement mean in plain English.

#1

And upon payment of the said sum, the said parties of the first part will make, execute and deliver to the said parties of the second part, a good and sufficient deed for the proper conveying and assuring of the said premises in fee simple, free from all encumbrance and dower, or right of dower, such conveyance to contain the usual covenants of General Warranty.

#2

AND IT IS FURTHER UNDERSTOOD AND AGREED that if the first part fails to perform any of the covenants of this contract, the aforesaid money paid by the second part, at the option of the second part, shall be returned to the second part on demand. In the case of default of payment of any sum of principal or interest, taxes, herein agreed to be paid or premiums on insurance herein agreed to be carried, for the space of thirty (30) days after the same shall become due and payable by the terms hereof, that then and in such case, the whole of the principal sum shall, at the option of the said parties of the first part, forthwith become due and payable, anything hereinbefore contained to the contrary thereof notwithstanding. And in such case of default, the said parties of the second part hereby authorize and empower any attorney of any Court of Record in the State of Pennsylvania, or elsewhere, to appear for them and confess a judgment for the balance and interest remaining unpaid hereon; and the said parties of the second part, in case of default aforesaid, further authorize and empower any attorney of any Court of Record, either in addition to or without such judgment for the amount due according to the terms of this agreement, to appear and confess judgment against them in an amicable action of ejectment for said premises, and authorize the immediate issuing, without asking leave of court of a writ of Habere Facias Possessionem, with writ of execution for the amount of said judgment and costs, with an attorneys commission of $150.00; in each case waiving the benefit of any law exemption property from levy and sale, waiving the right of inquisition if levy is made on land and consenting to condemnation thereof with liberty to sell same on Fiere Facias, without stay of execution, and with release of all errors.

As far as I understand...

The first just says the seller will deliver clear title by a general warranty deed (which says that it is free of any liens or other attachments).

Is that correct?

As for the second one, thhe opening sentence I interpret as the deposit money (and any interest) goes back upon immediate request of the buyer if the seller defaults on the terms of the contract.
But from there on it appears to switch over the seller and what they will do.
Its that section, especially with the latin like terms and potential for both parts to be acted upon concurrently that I am wary of.

Any help that could be provided will be very much appreciated.