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HomeMy WebLinkAbout2855 s AP.TICLES OF AGREEMENT - Page 2, tax statements are received by either party hereto. Second Pd'ttias further agree 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. In-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 hereby secured, ac- counting to Second Parties for any surplus. .Second Parties also agree 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 Parties to promptly and fully comply with all conditions and covenants in this agreement. In the event Second Parties fail to pay, when due, any taxes, assessments, insurance premiums or other sums of money payable by virtue of this agreement, First Parties may pay same without wativing or affecting their og*_ic*~ to foreclose this agreement, and aII such payments shall bear interest from date thereof at the highest lawful rate then allowed by the laws of the State of Florida. If any sum of money referred to be not promptly paid within thirty (30) days next after the same becomes due, or if each and every agreement, 'stipulation, condition and covenant of this agreement is not fully performed, complied with and abided . by, then the entire unpaid balance of this agreement shall forth- with and thereafter, at the option of First Parties, become due and payable and the estate hereby created in Second Parties shall cease, terminate and be null and void. Furthermore, this agree- - ment shall, at the option of First Parties, be forfeited and term- LAW OFFICES WILLES, ©ITTAN & WILLES P. o. eox 3as gp(~ P~~ FORT PIERCE. FLORIDA 3330