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ARTICLES OF AGREEMENT - Page 2.
Privilege of prepayment shall be given Second Party
after December 31, 1979.
Second Party hereby covenants and agrees to pay all taxes,
assessments or impositions that may be legally levied or imposed '
on said land subsequent to the year 19?S.
Second Party further agrees to keep the buildings, now
or hereafter on said land, fully insured in a sum not less than
the maximum insurable value, in a company or companies acceptable
to First Parties, the policy or policies to be held by., and payable
to, First Parties. Yn the event any sum of money becomes payable .
by virtue of said insurance, First Parties shall have the right to
receive and apply same to the indebtedness h ereby secured, ac-
counting to Second Party for any surplus.
Second Party also agrees to pay all costs, charges, ex-
penses, lawyer's fees and title searches reasonably incurred or
paid by First Parties because of the failure of Second Party to ;
promptly and fully comply with all conditions and covenants in
this agreement. In the event Second Party fails to pay, when due,
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~ any taxes assessments, insurance premiums or other sums of money
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payable by virtue of this agreement, First Parties may pay same
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~ without waiving cr affecting their option to foreclose this agree- ~
~ ment, and all such payments shall bear interest from date thereof
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~ at the highest lawful rate then allowed by the laws of the State
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~ of Florida. • ~ ~
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$
; if any sum of money referred to be not promptly paid with-
R in thirty days next after the same becomes due, or if each and every
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~ agreement, stipulation, condition and covenant of this agreement is
not fully performed, complied with and abided by, then the entire F
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; unpaid balance of this agreement shall forthwith and thereafter, at
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wiu.ES. BITTAN & WILLES ~JC! V~O °~G`. ~~7~ S
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FORT PIERG~. FLORIDA »480
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