HomeMy WebLinkAbout2014o. a. 27 P~cE614
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sr. ~ t~CIF cear~~ r. FIA.
parties further agree to keep the buildings, now or hereafter on
said land fully insured in a sum not less than #7,000.00, in a
company Or companies acceptable to first parties, the policy or
policies to be held by, and payable to first parties, and in the
event any sum of money becomes payable by virtue of said insur-
ance, the first parties shall have the right to receive and apply
the same to the indebtedness hereby secured, accounting to second
parties for any surplus. Second parties also agree to pay all
costs, L~harges and expenses, lawyer's fees and title searches,
reasonably incurred or paid by first parties because of the
failure of second parties to promptly and fully comply with all
conditions and covenants in this Agreement. In the event second
parties fail to pay, when due, any taxes, assessments, insurance
premiums or other sums of money payable by virtue of this agree-
ment, first parties may pay the same without waiving or affecting
their option to foreclose this Agreement, and all such payments
shall bear interest from date thereof at the highest lawful rate
then allowed by the Iaws of the State of Florida.
If any sum of money herein referred to be not promptly
paid within FIFTIs$N (15) days next after the same becomes due,
or if each and every the agreements stipulations, conditions and
covenants of this Agreement are not fully performed, complied
with and abided by, then the entire unpaid balance of this
agreement shall forthwith and thereafter, at the option of the
first parties become due and payable and the estate hereby
created in second pprti~sshall cease, tervinate and be null and
void. Furthermore, this agreeaent shall, at the option of
the parties of the first part, be forfeited and terminated,
~,_the pprtt~s of the second part shall forfeit all payments
lade by them on this contrast; and such payments shall be re-
tained by the said parties of the first part in full satisfae-
tion and liquidation of all dartges by them sustained, and the
said parties of the first part shall haoe the right•to reenter
and take possession of the prere~ises aforesaid, without being
liatils i'or any action therefor.
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