HomeMy WebLinkAbout2501o. R. 5~ _ F~ 43`7
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ST, i l~~lE aQaMep~a~~1e ~ to FIRST PARTIES, the policy or policies to be held
by, and ps.yable tv FIF.3T PARTYSS, inn in the event any awin of
money becomes payable by virtue of said inaurar~ae, the FIRST
PARTIES shall have the right ~o receive and apply the same to
the indebtedness hereby secured, accounting to SECOND PARTIES
for any surplus. SECOND PARTIES also agree to pay all coats,
charges and expenses, lawyer's fees and title searches, reason-
ably incurred or pe,id by FIRST P°RTIES becauat of the failu~e
of SECOND PARTIES to promptly and Bully comply with all condi-
tions and covenants in this Agreement. In the event SECOND
PARTIES fail to pay, when due, an~• 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 laws of the State of Florida.
If any sum of money herein referred to be not promptly
paid within THIRTY (30) 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, eomnlied
with and abided by, then the entire u*~paid balance of this Agree-
rrent shall forthwith and thereafter, at the option of the FIRST
PAr1TIES become due and payable and the estate hereby created in
SECOND PARTIES shall cease, terminate and be null and void.
Furthermore, this Agreement shall, at the option of Lhe PARTIES
of the FIRST PART, be forfeited xnd terminated, and the PARTIES
of the SECOND PART shall forfeit all payments made by them on
this contrast; and such p&ymer~ts shall be retained by the said
PARTIES of the FIRST PART in r''ull satisfaction ar_a liquidation
of all damages by them sustained, and the said PARTIES of the
FIRST PART shall have the riy., to re-enter and take possession
of the premises aforesaid, without being liable for any action
therefor.
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