HomeMy WebLinkAbout0653 Said part ~c s of the second part he~reby ~~ypn~rt ~!r.3 ~~r~~ :o pay
all taxes, assessments or impositions that may be legally levied
or imposed on said land subsequent to the year 197'S~. Second
partle S further agree to keep buildinR, now•or hereafter on
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said )_and fully insured xn a sum not less than/~~~~,4•, in a
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co,npa~; or companies acceptable to first party, the policy or
po~ici.e;, to be held by, and payable to first party, and in the
ev~nt any sum of money becomea payable by virtue of said insurance,
tre first party shall have the right to receive and apply the same
t~ the indebtedness hereby secured, accounting to second part
fc~r any surplus. Second part~t~'J~also agree to pay all costs,
charges and expenses, lawyer's fees and title searches, reasonably
incurred or paid Dy first party because of the failure of aecond
partlP~ to promptly and fully comply with all conditions and co-
venants in this Agreement. In the event second partll' S fail~o
paX, when du~ s a~~ t~x~~ , ass~:~si~~~~~ ,~insur~r~~e- premiums or other
sums 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 vavments shaii hear ;.+tp~~t
from date thereof at the highest rate then allowed by the Laws of
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i the State of Flvrida.
~ If any sum of money herein referred to be not promptly paid
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~ within T~}~(~ y (~J O ) days next after the same becomes due,
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or if each and every the agreements, stipulations, conditions and
covenants of this Agreement are not fully performed, complied with
and abided by, then the entire unpaid balance of this Agreement
~ shall forthwith and there~f~~r, the optiQn of the fir~t ~arty,
~ become due and payable and the estate hereby created in second
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~ part"~t~' shall cease, terminate and be null and void. Furthermore,
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~ this Agreement shall, at the option of the party of the first part,
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~ be forfeited and terminated, and the part~t~' of the second part
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~ ehall forfeit all payments made by them on this contract; and such
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payments shall be retained by the said party of the first part in
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~ full satifaction and liquidation of all damages by him sustained,
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