HomeMy WebLinkAbout1372 ARTICLES OF AGREEMSNT - Page 2.
SECOND PARTIBS ~urther agree to pay, in-addition
to the SEVENTY-FIVS DOLLAR ($75.00) monthly prin-
cipal and interest installments, ONE-TWELFTS (1/12th)
of the total annual real estate taxes and insurance
on the building on said property, which amount, at .
the outset would be TWELVE DOLLARS ($12.00) per month.
FIRS? PARTIBS agree that they will make a check
payable to SECOND PARTIES and the Tax Collector of
St. Lucie County and a separate check made payable
to SECOND PARTIES and the insurance agency carrying the
insurance on the dwelling within TAREE (3) DAYS of
presentation of the annual tax bill and insurance
bill, in order to insure the payment of taxes and
insurance on said property. SECOND PARTIES further
agr:ee that should the monies paid each year to
FIRST PARTIES for taxes and insurance be insufficient
to pay-•the taxes and insurance as per the bills
presented for same, SECOND PARTIES will pay the
difference to the end that the taxes shall never be-
come delinquent on said property and the pxoperty
shall be insured at all times in a sum not less than
EIGHT THOUSAND DOLLARS ($8,000.00), in a company or
companies acceptable to FIRST PARTIES, insuring the
interests of FIRST PARTIES, SECOND PARTIES and First
Federal Savings & Loan Association of Fort Pierce.
In the event any sum of money becomes payable by
virtue of said insurance, FIRST PARTIES shall have
the right to receive and apply the same to the in-
debtedness hereby secured should there.be any amount
in excess~of the amount due the first mortgage holder,
and FIRST PARTIES shall account to SECOND PARTIES
for any surplus, SECOND PARTIES agree to pay all
costs, charges, expenses, attorney's fees, title -
j searches and any other expenses reasonably incurred
or paid by FIRST PARTIES because of the failure of
SECOND PARTIES to promptly and fully comply with all
of the conditions and covenants of this agreement.
If any sum of money herein referred to be not promptly
paid within THIRTY (30) DAYS 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 by, then the entire
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 SBCOND PARTIES shall cease, :
terminate and be null and void. This agreement shall, at
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