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To place and continuously keep on the bui!dirsgs now a hereafter situate on said land and on all equipment and personally covered by this mortg- aqe, with all premiums thereon paid in full, fire insurance in the usual standard policy form, in a sum approved by the MORTGAGEE, and windstorm insurance in the usual standard policy form, in a sum approved by the MORTGAGEE, in such company w compani~a as the MORTGAGEE may direttt and all Lire and windstorm insurance policies on any of said buildings, any interest tfterein or part thereof, in tftat aggregate sum aforsNid a In exteu thereof, shall contain tlse usual standard mortgagee clause a such other clause as the Mortgages may require, making the loin said poli• ties, each and every, payable to said MORTGAGEE as its interest may appear, and each and every such policy shall be promptly ass.gned delivered to any FteW by said MORTGAGEE as further security to said mortgage debt, and, not leu than ten (10) days in advance of the expiration of each policy, to ds- liver to tail MORTGAGEE a renewal thereof, together with a receipt for the premium of such renewal; and there shall be rw fire or windstorm insurance plated on any of said buildings, any interest therein or part thereof, unless in the form and with the loss payable as aforesaid; and in the event any sum of money becomes payable under such policy or policies said MORTGAGEE shall have the option to receive and apply the same on account of the indebted• neu secured hereby or f0 permit said MORTGAGORS to receive and use it a any part thereof for other purp,sra, without th:rein waivi~ig or unpair- ing any equity, lion or right under or by virtue of this mortgage; and in the event said MORTGAGORS shall for any reason fait to keep the said premises so insured, or fail to deliver promptly any of said policies of insurance to said MORTGAGEE, or fail promptly to pay fully any premium therefor or in any respetl fail b perform, discharge, execute, effect, complete, comply with and abide by this covenant, a any part hereof, said MORTGAGEE may place and pay fa such insurance or any part thereof without waiving or affecting any option, lien, equity, or right under or by virtue of this Mortgage, and the full amount of oath and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at tlse rate of nine per centum pa annum and together with such interest shall be secured by the lien of this mortgage. 1. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. S. To pay all and sirgular the cosri, charges and expenses, including a reasonable attorney's fee and costs of abstracts of title, incurred or paid at any time by said MORTGAGEE, because or in the event of the failure on the part of the said MORTGAGOR to duly, promptly and fully perform, discharge. execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions, and covenants of said promissory note and this mortgage any or either, and said costs, charges and expenses, each and every, shall be immediately due and payable; whether or not there be notice de• mend, attempt to collect or wit pending: and the full amount of each and every such payment shall bear interest from the date thereof until paid at the rate of nine per centum per annum; and all said costs, charges and expenses incurred or paid, together with such interest, shall tx secured by the lien of this mortgage. Q That (a) in the event of any breach of this Mortgage or default on tF,e part of the MORTGAGOR, or (b) in the event any of said sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same severe:ly become due and payable, without demand a notice, or (c) in the event each and every the stipulations, agreements, conditions and covenants of sa.d promissory note and this mortgage any or either are not duly, promptly and fully performed, discharged, executed, effected, completed, complied with and abided 5y, then in either or any such event the said ag- gregate sum mentioned in said promiuory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay a61e forthwith, o- thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said promissory note or in this Mortgage to the contrary notwithstanding; and thereupon or thereafter at the option of said MORTGAGEE, without notice o- demand, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all moneys secured hereby had matured prior to its institution. 7. That in the event that at the beginning of a at any time pending any suit upon this Mortgage, or to foreclose it, or to reform it, or to enforce payment of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdiction thereo4 for the appointment of a Receiver, such Court shall forthwith appoint a receiver of said mortgaged property all and singular, including all and singular the income, prolits, issues and revenues from whatever source derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such Receiver shall have all the broad and effective functions and powers in anywise entrusted by a Court to a Receiver, and such appointment shalt be made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and without reference to the edequsty a inadequacy of the value of the property mortgaged or to the solvency or insolvency of said MORTGAGOR or the defendants, and that such rents, profiri, income, iuues and revenues shall be applied by such Receiver according to the lien or equity of said MORTGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory note and this mortgage set forth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, becomes vested in a person other than the MORTGAGOR, the MORTGAGEE, iri successors and augns, may, without notice to the MORTGAOR, deal with such successor a successor in interest with reference to this mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiating or discharging the Mortgagors' liability here• under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no forbearance on the part of the MORTGAGEE or its successors or auigrts and no extension of the time for the payment of the debt hereby secured given by the MORTGAGES or its successors or assigns, shall operate to release, discharge, modify Change or affect the original liability of the MORTGAGOR herein, either in whole or in part. 10. It is specifically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder o- of the obliga8on se- cured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the instrument secured herby. 11. In addition to the foregoing monthly payments of print"pal and interest required by the promissory note secured hereby, mortgagor covenants and agrees to pay to mortgagee with each monthly payment an additional sum estimated by mortgagee to be equal to 1 % 12 of the annual cost of the follow- i~; A-All real property taxes levied or assessed against the above described real estate. B-Premiums on fire and windstorm insurance as herein required to be ca.ried on the improvemeets situate on the above described premises. C-Premiums on such mortgage guaranty insurance as mortgagee shall from time to tune deem fit to carry on the loan secured hereby. Mortgagee shall from time to time notify mortgagor in writing of the amount due and payable hereunder and such sum shall thereupon be due and payable on the due date of the next monthly payment and each successive month thereait~r until mortgagee shall notify mortgagor of a change in such amount. Such sums shall be applied by mortgagee toward the payment of real property taxes, insurance premiums, and mortgage guaranty insurarxe premiums. ' IN WITNESS WHEREOF, ttte said MORTGAGOR has hereunto set his hand and seal the day and ye first a~said. Sig sled and ~vered in the presence of: t --r• .~--r Seal ~~~ -- ~1t71 Sea4 tSeaq -tseaq STATE OF FLORIDA ST , iUJC IE ~' couNTr of Before me personally appeared Gary F. EllwOOd and Janice F. E111YOOd his wife, to me well known and known to me to be the individuals described in and who executed the foregoing in}t~nspCe ~: ciEfore me that they executed the same for the purposes therein expressed. And the sal J 1 wife of the said Gary F . Ellwood - upon a separate and pr'rvats examination by me taken separate and apart from her said husband, acknowledged to and before me that she xetuted s id instrument freely and volun- tarily and without any compulsion, constraint, apprehensi°~ or fear of or from her said husband. ~ ~, WITNESS my hand and official seal this 2 / day of All Llf3t ~'~, lq 69 1AY CO''i ~'ON_ EXe'iR~S ~JtJN~ ' I97~ " No=ary Public•in and for-the.Sttte Q~,,floirda s! lar(,~_ ' My Commiu'ron expires: - ~ ~ ' Return To: -, -~• -. First Federal Savings a Loan Association F1l.E~ ANO RECOR~EO~.. 1_- Of Fort Pierce. '''. ST. I.UCIE COUNTY. FLA. ', ~ ~. Fort Pierce, Florida FF•CORC VEr~iFIED ~ ••-•_ This Instrument Prepared By J. ~ C~t QM ~ • 33 First Federal Savings ~ loan Association lg~i5 of Fort Pierces Rlozida ~iO~~Lr ='OtTRNS Checked By -_~!_«K C1RCUlT COURT aQOK179 P~~f1516 !l ~ (/ i } !'!~