HomeMy WebLinkAbout0514 ARTICLES OF AGREFIKENT - Page 3.
held by, and payable to FIRST PARTIES, and in the event
any sizm of money becomes payable by virtue of said insurance,
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 PARTIFS also agree
to pay all costs, charges and expenses, lawyer's fees and
title searches reasonably incurred or paid by FIRST PARTIES
becaus~ of the failure of SECOND PARTIES to promptly and
fully compiy with all conditions and covenants in this agree-
ment. In the event SECOND PARTIES fail tQ pay when due, any
taxes, assessments, insurance pre.miums or other sums of money
payable by virtue of this agreement, FIRST PARTIES may pay
the same without waiving or affecting their option to fore-
close this agreement, and all such payments shall bear in-
terest from date thereof at the highest lawful rate then
allowed by the laws of the State of Florida.
If any sum of money referred to be not promptly paid
within FIFTEEN (15) DAYS next after the same becomes due,
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~ or if each and every the agreement, stipulation~, 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 PARTIES shall cease, termi-
nate and be null and void. Furthermore, this agreement
~ shall, at the option of the PARTIES OF TIiE FIRST PART, be
forfeited and terminated, and the PARTIES OF THE SECOND PART
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~ shall forfeit all paymerits made ~y them on this contract;
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~ and such payments shall be retained by the PARTIES OF THE
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