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Sa id parties of Second part hereby c ovenant a nd a gree to pay ~
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all taxes, assessments or impositions that may be legally levied =
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or imposed on said lan~ subs~~quent to tr~e year 19b4. Second ~
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parties ~urther agree to keep the buildinqs, now or herea:ter on ~
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said 13nd fully insured in a sum not less tr~an ~8,000.00 in
a co:npany or companies acr.eptable to first party, the ~~olicy or
policies to be held ny~ and pay_able to tt~e first party, and in 'f
the e vent any sum of money becorne s payable by vi rture ~f s aid
insurance, the first party shall have the ~•ight to receive y
and apply the same to the indebtedness nar~by secured, accounting
to second parties for any surplus. Second parties also ayree to
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pay all costs, charaes and expenses, lav~~yer's fees and title
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searc~~es, reasonably ir.curr~d a.r paid by first party b~cause ~
of the failur~ of s econd par. ties to r,roT~ptly and fuily co-~ply -
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• with all conditi~nC and covenants in this Agreement. In the event ~
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second parti~s fail to pay, ~,n-hen ~ue, any taxes, assessments, `
insuran~e premiums or other suzis of money payable by virt,ure of ;
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tt:is Agreement, rirst oarty may pay the same without waiving ~
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or afrectinq their option to foreclose this Aaree~nent, and al1
such payments shall bear interest f rom c~±e the •-eof at the i~:ighest
lawful rate tnen allcwed by the lan~s of the Sta te of Flcrida.
IF ar.y sum of money herein referr~d to ~ not promptly
paid ~Nithir, rli=TcEN ( 15) days next aft~r the Came lpcomes due,
or if each and Every thA aareements, s'~i~ulations, conditions and
covenants oi this ~greement d~-e not fully perforrned, complied
with and abided 'Q~~, then thP entire unpaid balance af this Ac~ree-
ment w't~all forthwith and thereaf}er, at the o~tion of the £irst
party, ~?c~Te due and payable and 'the e stafie P;ereby c~pated ?n
` second par ties shal? ceose, ~erminate and be null and void. ~ur ~her-
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rnore, this Agreement shall, at the option of the party of the
first part, be forfei~?d and ter~ninated, and ~he parties of the
second p~rt shall rorfeit a.11 payment5 mad~ by them on tris
cantract; a~d such payments shall be retain~d by *he saic~ party
of the first part in fuli satisfaction and liquidation of all
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~ R 133 474 `