HomeMy WebLinkAbout2948 govern~ental assessn~ents and fire insurance whicY~ l~as been
paid by the parties of the first part to protect their int- ~
; erest. Refusal on the part of the parties of the second part
to pay these late charges rrill be considered the same as
failure to rtake the aforesaid regularly scheduled payments.
~ The parties of the second part agree and covenant:
(1) To keep the property insured at their expense with an insur-
ance company satisfactory to the parties of the first part in
an amount of not less than ~15,~OQ.00. Said insurance to
cover both fire and windstorm damage, with a maximum deduct-
ible of $100.00.
(2) To pay all ad valorem city and county taxes and ot'r,er govern- ,
r~.ental a~sessments accruing subsequent to the lst day of Feb-
ruary A.D. 1974.
(3) Failure to perform any of the covenants on their part, ~~rithin
30 days of the due dates, shall constitute forfeiture and
termination of the within contract and all pay~ments mane uy
tile parties of the aecond part shall be forfeited and cor~st-
itute full and liquidated damages to the party of tne first
part. Neitner forebearance nor acceptance by the parties of
I tne first part after any default in any payr~ent hereon, shall
i ,
; be deer~ed extension hereof .
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~ (~t) That in tne event it is necessary to use legal rr,eans or proc-
~ -
~ esses to enforce performance of tiiis contract to ta fore-
~ close this contr~act to obtain possession of this prcperty,
the parties oi the second part agree to pay a reasonaUle
attornAy's fee and all other costs pertaining to the Iegal
procedure involved. ~
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~ (5) That it is not necessary for the parties of the first part ~o
~ notify the parties of the second part when any of the arnounts
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- come due uncier this contract.
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