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HomeMy WebLinkAbout0297 ,f • ~ • ~ i Said part yeg of the second part hereby covenant and agree to pay all taxes, asseasments or impositions that may be legally levied , or imposed on said land subsequent to the year 1968 . Second part ZQ8 further agree to keEp building, now or hereafter on said land fully inaured in a sum n4t less than SIS,OOO.OQ in a co~npa:~;; or companies acceptable to first party, the policy or po~.ici.es to be held by, and payable to first party, and in the eveyit any swa of money beco~es payable by virtue of said insurance, the first party shall have the right to receive and apply the same ~ tc? the indebtedness hereby secured, accounting to second part fer any aurplus. Second pdrt L68 also agree to pay all costs, charges and expenses, lawyer's fees and title searches, reasonably incurred or paid by first party because of the failure of second part ies to promptly and fully comply with all conditions and co- venants in this Agreement. In the event second part zes fail to pay, when due, any taxes, assessments, insurance premiun?s or other suma of money 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 allowed by the La~s of the State of £lorida. ~ ~ If any sum of money herein referred to be not promptly paid ~ ~ within Fif~ssn ~ IS ) 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 ~ith ` and abided by, then the entire unpaid balance of this Agreement shall forthwith and thereafter, at the option of the first party, become due and payable and the estate hereby created in second ~ part isa shall cease, terminate and be null and void. Furthermore, ~ this Agreement ahall, at the option of the party of the first part, be forfeited and terminated, and the part ies of the second part , ehall 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, -z- ao~c175 ~ 296 ~ -..v..~'= ;~sa^~~:r-~.-~~ .,..~~_v .