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may be neoeesar" from the rental so oolleoted, to the liquidation and payment of CD y due, or
past due, prinoipal or interest that may remuin unpald on the date of the pa,yment ot said
rental Installmente.
The said Fort Pleroe Bank & Trust Company is hereby authorized, a~poweret and direoted
to ooUeot aU rental talllng due under this lease and to apply the moneys ~o phi.! to the
payment ot the note and interest that~.may be then due by the lessors herein to the said Bnnk"
and the said Fort 1'1eroe Bank & Trust Company, as trustee, after making suoh payments is heri
by authorized, empowered and direoted to deposit the balanoe ot said rental so o~lleoted by
said Bank to the oredi t of the lessors herein: one-half to be depo~ed to the oredi t 0" "::'j ,
; Ralph C. Erskine am. one-halt' to be depo ~ed to tile oredi t of Edna Lewis Erskine. This i
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paragraph ot the lease making the rental payable at the said Bank shall be lrrevooable until !
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the mortgage atoresaid shall haTe been tully paid, and the power of the 3an~ to apply said mo*,"eys
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shall be irrevooable'tntl1 the indebtedness aforesaid shall h&ve been tully paid. i
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The lessees herein tor the purpose of seourlng and guaranteeing the payment of all rental
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lma turing, and the paJIllent ot all taxes and 0 ther peouniary obl1gat ion s durlng eaoh rental I
;year, obligatl:,and blnd themselves to exeoute and del1Ter on or before tlte 3rd day of Ootobed
1925, a good and s~fiolent bond In the sum ot Ten Thousand ($10,000) DOllars, signed by the !
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lessees as prinoipal and by a surety oompany 8.uth~rized to do business in the State of florida,
',as surety, oondlt1oned that the lessees will well and truly stand to and abide by all of the I
~terrns and oondltions of said nlnety-nlne (99) year lease and wl11 well and truly pay all I
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reounlary obligations imposed upon the leGseeB under the terms and oon4itions of said ninety-!
rlne (99) year lease durlng the period bE;ginning on the 3rd day of September, 1925, am I
"hrmlnaUng on the 3rd day of Septe:nber, 1926. !
; The leesees furthermore agree ~ther bonG. on or before the 3rd day ot 3eptember, 192J,
sll1Ded by the lessees as prino ipal and by a surety co~pany a uth,)r !zed to do business in the
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rtate of Florlda, as ~urety, oonditioned that the lessees will well and truly. sta.nd to and
abide by all of the terms and 0 ondl t1 ons ot sa id nine ty-nine (99) year 1 eas. and will well
LrU1Y pay all peounlary obligations l~posed upon the lessees un1er t~e terms and oondltions
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ff said nlnety-nine (99.) year 1 ease during the l' en~al period beglnning on the 3rd day of
~eptember, 1926, and terminating on the 3rd day ot 3eptember, 1927.
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lease, unless released therefrom by the writtan oonsent of the lessors.
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fhen
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1$20,000.00) has been expended in the oonstruotlon, ereotlon and oompletlon of a building or
uildinge on In and addltlon or additlons to the present buildings, oosting not less than
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fwenty-tive~oU8and Dollars ('2~,OOO.00).
ime inspsetet and approved by SQoh ptOper persona as the lessors or those having
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,hall appolnt to inspeot the same, and the lessee, its representatives Or assigns, will When
JeQUired re~dtr to the lessors or those having thelr estate, an~'aaoount and vouohers of suoh
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lxpendlture~.
It is the intentlon of this paragraph of the lease that the lessees shall .ive a bond at
Ileast one year beto re the beginning ot the year that shall be oovared and protecHed by eaid
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~ond, and that the bond shall be oontitloned 8S above designated, exoept that eaoh bond shall
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and.:
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The lessees agree to renew said bond during the full term of this ninety-nine (99) year
The Bond hereln provided for may and wl1l be oanoelled with the ayproval of the lessors
and only when sald lessors are eatisfled that not less then Twenty-tive !bbnaand Dollars
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their estate
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The applioation ot said amount to be trom time to
provide tor all peouniary obligutlons that are ohargeable again~t the lessees durlng the ren~ 1
period beglnning on the 3rd d83 ot 3eptember, one year atter ~he date of the g1 ving of said
Illond and t ermlm Ung on the 3rd day ot .)spte:nber, two years atter the da to of the g1 TilJ& of
raid bond. ODe month's extra ti~e being allow~d for the giving of the tir8~ bond.
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