HomeMy WebLinkAbout1930 , ~ . ~y_
Said part ~~a of the second part hereby covenant and agree to pay
all taxes, asaessments or impositions that may be legally levied
or imposed on said land suDsequent to the year 19 B8 . Second
part ~Qa further agree to keep building, no~ or hereafter on
said land fully insured i~ a sum not less than S28,OOO.OQ in a
ca;npa:~; or eompanies acceptable to first party, the policy or
po?i~i.es to be held by, and payable to first party, and in the
eveiit any sum of money becomes payable by virtue of said insurance,
the first party shall have the right to receive and apply the same
to the indebtedness hereby secured, accounting to second part
far any surplus. Second part i68 also agree to pay all costa,
charges and expenses, lawyer's fees and title searches, reasonably
incurred or paid by first party because of the failure of second
pa~ iss to promptly and fully comply with all conditions and co-
- venants in this Agreement. In the event second part isa fail to
pay, when due, any taxes, assessments, insurance premiums or other
sums of m,oney payable by virtue of this Agreement, first party may
pay the same without waiving or affecting their option to fore-
close this agreement, and all such payments shall bear interest ~
from date thereof at the highest rate then allo~red by the Laws of
~
, the State of Florida.
i
5
` If any sum of money herein referred to be not promptly paid
within Fiftsen ( 25 } 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 s~ith
and abided by, then the entire unpaid balance of this Agreement
shall forths~ith and thereafter, at the option of the first party,
becon~e due and payable anu the estate hereby created in second
part iss shall cease, terminate and be null and void. Furthermore,
this Agreement shall, at the option of the party of the first part,
be forfeited and terminated, and the part is8 of the second part
shall forfeit all payments made by them on this contract; and such
payments shall be retained by the said party of the first part in
full satifaction and liquidation of all damages by him sustained,
.
-2- 600K174 ~E19~