HomeMy WebLinkAbout0352 StiID parties of second part hereby covenant and agree to pay
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all t axes, a ssessments or impositions that may be lEgallq levied
or imposed on said land subsequent to t he year 1965. Second
parties further agree to keep the buildings, now or hereafter on
said land fully insured ~n a sum not less than ~4,000.00 in
a company ~r companies acceptable to f irst party, t he policy or
policies to be held b•?, and payable to t he first party, and in
the event anv sum of monep becomes papable by virture of said
insurance, th e first party shall have the right to receive and
applp the same to the indebtedness hereby secured, accounting
to second parties for anv surplus. Second parties also agree to
pay all costs, charges and e xpenses, lawyer~s fees and title
searches, reasonablv-incurred or paid by first party because of
the lailure ~f second parties to promptly and fhlty comply
with all conditions and covenarits in thi s Agreement. In the event
second parties fail to pay, when due, anv taxes,assessments,
insurance premiums or other sums of money paqable by virture of
this Agreement, first party map pay th e same without waiving
or affecting their option to foreclose this Agreement, a n d all
such paqments shall bear interest from date thereof at the hi~est
lawful rate then allowed by the laNS of the State of Florida.
IF any sum of money herein referred to be not promptly
paid w ithin FIFTEEN (15) iiaqs 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 bv, then t he entire unpaid balance of this Agree-
ment shall forthwith and thereafter, at t he option of the first
party, become due and papable and th e estat~ hereby c reated in ~
-second parties shall c ease, terminate and be null and void. Further }
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m~re, this Agreement shall, a t the option of the party of the first ;
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part, b e forfeited and terminated, and the parties of the second i
part shall forfeit all papmema made by them on this contract; ~
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