HomeMy WebLinkAbout2110 ARTICLES OF AGREEMENT - Page 2.
the buildings, naw or hereaf~er on said land, fully insured
in a sum not less than the maximum insurable value, in a
company or c~mpanies acceptable to FIRST PARTY, the policy
or policies to be held by, and payable to FIRST PARTY, and
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in the event any sum of money becomes payable by virtue of
said insurance, the FIRST PARTY shall have the right tc~ re-
ceive and apply the same to the indebtedness hereby accrued,
accounting to SECOND PARTIES far any surplus. SECOND PARTIES
also agree to pay all costs, charges and expenses, lawyer's
fees and title searches reasonably incurred or paid by
FIRST PARTY because of the failure af SECOND PARTIES to
promptly and fully comply with a11 conditions and covenants
in this agrEement. In the event SECOND PARTIES fail to pay
when due, any taxes, a5sessments, insurarice premiums or other
sums of money payable by virtu~ of this agreement, FIRST
PARTY may pay the same without waiving or affecting h~r
option to foreclose ~his agrEement, and all such payments
sha11 bear interest from date ther~o~ at the highest lawful
rate then allowed by the la~as of the State af Florida.
If any sum of. money referred to be not promptly paid
within FIFTEEN {15) DAYS next after the same becomes du~,
or if each and every the agreements, stipul~tions, conditions ;
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and covenants of this agreemen~ are not fully performed, com- 3
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plied with and abided by, then the en~ire unpaid balance of ~
this agreement shall forthwith ~nd thereafter, at the option =
of the FIRST PARTY, becom~ due arid a able ar.d the estate ~
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hereby created in SECOND PARTIES shall cease, termiiZate and t
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be null and void. FurthermQre, this agreement shall, at r
the o~ta.an of the PARTY OF THE FIRST PART, be forfeited and
terminated, ~r.d the PARTIES OF THE SECOND PA.RT shall forfeit
all payments n~ade by them on this contract; and such payments
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