HomeMy WebLinkAbout1665 special ~overnment asse~sr,-,ents and fire insurance wilicti t,a5
t~ean paid by the purties of tlie first part to protect their
interest. Refusal ori ttie parL of the parties of' the second
part to pay the~e i4t~ ct~ar~;ea will be corisidered t:ie ~ar~:e
a~ failure to i::ake the aforesaid regularly scheduled paymenLs,
'i'he parties of tne second part agree and covenant:
(1) Tc keep the property insured at their expense witt~ an insur-
ance companl~ sati~factory to the garties of the first part in
an am.ount of not less than $16,000.00. Said insurance to
cover both fire and windstorm damage, with a~aximum deduct-
ible of $100.00.
(2) To pay all ad valorem city and county taxes and other govern-
mental assessments accruir~g subsequEnt to the 8th day of
September A.D. 1973• ~
~3) r`ailure to perforn~ a.n;r of' ~he covenant~ or~ t~ eir part, ~~ithin
30 days of the due da~es, s'r.all constitute forfeiture and
termination of the :~ritl:in contract and all payments made by
tiiz part~es of' tn~ second par~ shall be forfeited and const-
itute f
ulI and liquy~iated dar:a~es to ~he party of tr.e first
part, i~either forebearance nor acceptance by tne part~es of
tt:e f~r~t part af~er any default in any payment nereon, shali
be dee:,.ed extens~on hereof.
(4) ihat in t'r,e event it zs necessary to use iegal meana or
processes to enforce perforr.:ance af this contract or. to
foreciase tiiis contract ta obt3in passession of this property,
the parties of the second part a~ree to pay a reasonable
attorney's fee and all otner costs pertaining to i,he legal
procedure involveci. _
i'r.at it i:: not necessary for the partiea of tY,e first part tc
riotif;~ the part;es of the second part ~Vhen any of the ar~ounts
co~.,e ciue under tnis contract.
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