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Said mortgage ehall oontaln a provieioa ior the appointment o~ s Re-
ceiver in tt~ event oi default or b~each wnder either the mortgage arr
thie agzeemen~ _ ~
4. So long ae seco,~d partlee are not in default under eaid
notes to flret parties or have ~t breached any of the terms of thie
Agreement, they will be allowed tio continue ~ occupying and usiTMg the
existing premises at 2715 South U. S. Highway No. 1 owned by ~rst
parties, rern ~ree for a period o# one yea~r from the date o~ thia Agree-
ment. Second parties agree to pay all the 1970 t~txes upon such prem~
ises and one-half of the 1971 taxes. All utilities, telephone, licenses,
a$sesaments and business exgenaes of whatever type will be paid by
aecond partiea that are applicable to the corporation or the premises.
It ia ur~lersmod that from this date forward, first parties shall n~ot be
put to a~r cost or expense arising from the corporarlon .or the conduct
o# its business. So long as secand parties are using or occupying said
premises owned by flrst parties, they shall maintain a policy of public
iiability inaurance carrying minimum coverage of ~50, 000. 00 for any
one perso» injured and ~100,_000, 00 for axiy one combination of i~uries
and ~10, 000. UO property damage. Second parties shall allow ~o liens
to be placed upon said premises attd ahall pe=mit or contract for any
lab~r or materials tio be used or placed thereon without the written
consern of flrst parties. Should ~rst partie~ receive a bona flde -offer
to purchase or lease the premises during occupancy by seoond parties, a
a price acceptable to $ret parties, then second .parties agree to vacate
the premises within 90 days from receipt of notice in writing from first
parties. ~
5. Untfl auch time as the said promissory notes due from
second parties to #iret parties have been pa3d in full, seoond partiea
- agree to not encumber, pledge, aseign, transfer, dispose of or other-
wise fmpair any of the asaets, inveirtory, accounts receivable or per-
sanal property of the corporation, whether presernly had or acquired at
ROYCE R LEw1$
~noRM~r ~ u,. : anY time in the future, without firat obtaining the written consent of
, s~ .ovn~ .~ooNn.r~er ^ _
~o.a~.~oo~ .aw. _,4 _
FORT PILwCf. /{~O~IOA , ~ YYf1A~~ ~ •
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