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Said parties of second part hereby covenant and agree to pay
III tax~g, asse~sments or impo~itions that m~y be legally levied
or imposed on slid land subsequent to the year 1960. Sftcond
partie~ further agree to keep the buildi~g~, now or herG.after on
slid land fully ins~~ed in a ~um not less than $3,000eOO, in a
company or companies &cceptable to first party, tre policy or
policie~ to be held by, and pay.bl& to the first party, and in
th~ event any sum of money becomes p~yable by virtue of said
insurance, the first party shall hav& the right to receive
and apply sal1\6 to the indebtedness hereby secured, 8ccounti.n~
to second parties for any surplus. Sscond parties al~o agree tc
pay all costs, charges and expenses. lawyer's fees and title
searches, reasonably incurred or paid by first party bec3U5c
of the failure of second parties to promptly and fully comply
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with all conditions and covenlnts in this Agreement, In the event
5econd parties fail to pay. when due, any taxes. ~ssessments,
insurance premium~ or other ~ums of money payable by virtue of
this Agreement, fir~t party may pay the same without waiving
or Iffecting their option to foreclo~e this Agreement, and all
such payments shall bear intere~t from date thereof It the highest
lawful rate then allowed by the laws of the ~tate of Florida.
If any sum of money herein refer~ed to be not promptly
paid within FIFTEEN (15) days next after the same becomes due,
or if each and every the agreements, stipulations. conditions and
covenants of this Agreement Ire not fully pe~formed, complied
with and abided by, then the entire unpaid ballnce of this Agree-
ment shall forthwith Ind tn&reafter, at the option of the first
party. become due and paYlble Ind the estate hereby Created in
second plrties shall cease, te~inlte Ind be null and void. Further-
More, this agreement shall, at the option of the parties of the
fir5t part, be forfeited and terminated, and the parties of the
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second part ,hall forfeit III paym6nts made by them on this
contract; and such ~ayments shall be ret.in.d by the said party
of the first part 1n full satisfaction and liquidation of .11
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