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Said party of Second ~:~art hereby covenant and agree to oay all
taxes, assessments or impositions that mav br~ legally levied or
im~~osed on s aid land subsequent to t he year 1965. Second p~rty
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furthQr agrees to keep the buildings, now or here:fter on said
lar.d fully insured in a sum not less than ~~,~00.00 in a company
or companies acceptable to f irst par.~v, the policv or policies
to be held 'oy, and pa,~able to t he first partv, and in the event ;
any sum of monev becomes payable by virture of said insurance, the
fir•st ~arty shall have the right to recei ve and apply the s ame to
the indebtedness herebv secured, accounting to second part,y for ;
anv surplus. Second part~~ also agrees to pay all costs, ch :rges and '
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expenses, lawyer's fees anci title searches, reaso::ably ir:curred or ;
paid b~t first partv because of the faiiure of second party to promptly ~
and fullv complv with all conditions and covenants in this Agreement.
In the event second ~arty fails to pay, when due, any tax=~s, :~ssess-
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ments, insurance premiums or other sums of money payable by virture '
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of this _.greement, First part}? may pay the s ame without waiving a~ i
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~ affecting t'~eir o~tion to foreclose this Agreement, ~nd all such
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; aavments shall b: ar interest from d ate thereof at the highest law- i
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= ful r~te then allowe•;i b-- the l::ws of th . S:ate of Florida.
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~ IF an~? sum of monev herein referred to be not prom tlv :~~aid
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~ with FIFTr~Ei~ (i5) days n~xt after the same becomes due, or if each
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~ and every the agreemen` s, stipulations, conditions and co~enants
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of thi s~+greement are not fully performed, comLlied with and -
~ abided by, then the entire unpaid balance of this Agreement shall =
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~ forthwith and thereafter, at the o~tion of the first varty, become ~
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~ due and :~ayable and the e state hereb~~ c reated in second party ~hall E
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_ cease, termi::ate and be null and void.
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~ FURTHLRt:OR~~ this Agreement shail, a t the option of the ;~artv ~
- of the first part, b e forfeited and terminated, and th e party of
- the second part shall forfeit all ~;ayments made by the~-i on this
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contract; and such payments shall be retained bv the s aid party
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