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ARTICLES OF AGREEMENT - Paqe 2.
rated between the parties hereto as of this date, as soon as tax
statements are received by either party hereto.
Second Parties 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 Party, the policy or policies to be held by, and payable
to, First Party. In the event any sum of money becomes payable i
by virtue~of said insurance, First Party 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 Party, because of the failure of Second Parties to
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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
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payable by virtue of this agreement, First Party may pay same
without waiving or affecting his option to foreclose this agree-
ment, and all such pa ents shall bear interest from date thereof
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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.with-
in 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 forthwith and
thereafter, at the option of First Party, become due and payable
and the estate hereby created in Second Parties shall cease, termi=
nate and be null and void. Furthermore, this agreement shall, at
the option of First Party, be forfeited and terminated, and Second
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BOOK JGQ PAGE~~
S. A. OITTAN, JR, ATTORN[Y AT LAW 201 SOUTN S[COND fTR[CT FORT rICRCl. FLORIDA ~l400 t~001401.1300 i