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ARTICLES OF AGREEMENT - Page 2.
Second Party further agrees to keep the buildings, now
or hereafter on said land, fully insured in a sum not 1 ess 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 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,
any taxes, assessments, insurance premiums or other sums of money
payable by virtue of this Agreement, First Parties may pay same
without waiving or 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
of Florida.
First Parties may not encumber the aforedescribed property
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without the written consent of Second Party.
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
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and thereafter, at the option of First Parties, become due and
payable and the estate hereby created in Second Party shall cease,
terminate and be null and void. Furthermore, this agreement shall,
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O. A. OITTAN. JR. ATTORNEY AT I.AW 201 SOUTH SECOND STREET FORT PIERCt. FLORIDA 3s480 (s00)46f•1~00
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