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To place and continuously keep on the bu~ldings now or hereafter situate on ~a~d land and o~ all equi~nent snd personatly covered by thi~ mort9- ege, w~ih all prem~uma thereon pa~d in full, fire insurance in the us~al s~andard pol~cy form, in a sum app~c+ed by the MOR(G.~GEE, and w~~ds~am - iniurance in the usual srandard pot:cy fo~m, in a sum approved by the MORTGAGEE, in iuch company or cwnpanies ss the MORiGAGEE may ~ dirett; and aIl fire and windswrm insuunce polic~es on any of said build~ngs, any interesl therein or pa~t thereoi, in the aygregate sum ~foresaid ot ~ in exceu Ihereo(, shall contain the usual standard matgagee claus~ w such other tlause as the Mortgagee may rcqu~~e, ma?ing the loss unda sa~d polt ~ cie~, each and every, payable to sa~d MORTGAGEE as ~ti interrt~ may ~ppea~, and cach and every such poi~cy ~halt tx promptly ass.gned and de~~vered to ~ any held by sa~d htORTGAGEE as furthrr security to said mortgage deb~, and, no1 less ~han ten (10) d~ys in advance of the expiiati~on o! each poticy, to da ; liver fo said MORTGAGEE a renewal the~eoF, toge~her with a rece~pt ior the prem~um oi such renewal; and the~e shall be no f~re or winds~o~m insurance ~ placed on any of sald build~ngs, any in:ereil therein w part thereof, unless in tFK form and wi~h Ihe ~oss payable as aforesaid; and in the event any sum ~ of money becomes payable undcr such policy o~ pol~cies said MORTGAGEE shall Mve the opt~on to rece~ve and appty the same on accoum of the indebted~ ~ ness secured hereby w?o permit said MORTGAGORS to receive and uae it or any pa~t thrreoi for oeher purNOSes, w~~hout ths~co~ wai~i~,3 er ~mpoir- ing any equity, lien ot right undrr w by virwe of thit mo:tQage; a~d in the event sa~d MORTGAGORS shall fo? any reason fail to keep the w~d premisrs so insured, or (ail lo drliver p~omptly any o+ said polKies of insurance to sa~d AhORTGAGEE, o~ fail promp!ly to pay futly any p+e~nium therefor or in a~y i re;pect fail ro perfo~m, d~scharge, eaecute, effeu, complete, comply with and abEde by thts cove~an~; o~ any part hereof, sa~d MORTGAGEE may place and ~ pay (a such imurance or any Fart thereof withovt waiving or affec?ing any option, lien, equ~ty, or right undrr or by virtue of this Mortgye. ar+d the f full amount of each and e~cry such payment snall be immediately due and payable and shall bear interest from the date thereof u~til paid at the rate ol i nine per temum per annum and to~ether with suth interest shait be setured by the lien of this mottgage. 1. To permit, commit or suffer no waste, impairment or deter'ara~io~ of said property or any part thereof. 5. To pay all and singular the costs, chargcs and expenses, inctuding a reasonable attwney'a fee and costs of abstracts of title, incur.ed or paid at any time by sa~d MORTGAG:E, because or in the event of the failure on the part of the said MORTGAGOR to duly, pro~nptly and f~ily perform, d~xharge, : execute, effect, comptete, comply w~th and ab;de bY each and every the stipulations, agreements, corw-litions, and covenants of said pro~r.issory note a~d this ' morigage any or ei~her, and sa~d coses, charges and expenses, each and every, shall be immediately due and payabte; whether or not there be notice da mand, attempt to collect or suit pend~n9; and the (ull amount of each and e~ery such payment s!~atl bea~ interest from the date thereof unti{ paid at the r~te of n~ne per centum per annu:n; and all said costs, tharges and expenses inturred or paid, together w~th such intereit, shall be secured by the lien of this ! mortgage. < 6. That (a) in ihe event of any breach of this Mortgage or default on Ihe part of the MORTGlaGOR, o~ (b) in the event any of satd sums o4 money i herein referred to b^ not promptly and fully paid within th~rty (3~J) days next after the same severally become due and payable, without dema~d or notice, o? (c) in the event each and every the stipulations, s9reertu~ts, conditions and covenants of sa:d prom~ssory note and th~s mortgage any or either are not t ~uty, promprly and fully perfwmed, d:scharged, ezecuted, effec~ed, completed, compl~ed wi~h and ab~ded 9y, then in e~~her w any such event the said ag j gregate sum men~ioned in said promissory note then remaining unpa~d, with interest accrued, and all moneya secured hereby, shall become due and pay- l} able (orthwith, w thereafter, at the option of said MORTGAGFE, as fully and completely as if all of the said sums of money were originally stipulated ! to be pa~d on such dcy, anythi~g ~n sa:d prom~ssory note or in this Mortgage to the contrary natwithstanding; and thereupon a thereafter at the opt~on of said MORTGAGEE, without notice or demaod, suit at law or in equity, therefore o~ lhereaiter begun, may be prosecuted as if all moneys secured hereby had maturtd pnor to ns inatitution_ 7. That in the event that at the beginning of or at any time pending any suit upon th7s Mortgage. w to foreclose it, w to reform it, or to enforce paymtnf of any claims hereunder, said MORTGAGEE shall apply to the Court having jurisdktien thereof ior the appointmeM of a Receiver, such Court shall iorthwith appoint a recei+er of sa~d mortgaged prooerty all and singular, includ~ng all and singular the income, prof~ts, issues and revenues from whstever source derived, each and every of wh~ch, it being expreas~y undrrstood, is hereby mortgaged as if s~ec~fically set fwth and deuribed in the g~aroing and habendum cla~ses hereof, and such Rece~ver shall have all the broad and effecfive funct~ons and powers in anyw~se entrusted by a Court to a Receiver, and such appointment sha11 br made by such Court as an admitted equity and a matter of absolute right to said MORTGAGEE, and withoul reference to the i adeq~acy or inadequacy of the va~ue of the p~operty mo+Igaged.or to the wivency or ~nsolvency of said MORTGAGOR w the defendants, and that such renfs, profits, incane, issues and re~enues shall be applied by such Receiver according to the lien or equity of uid MORTGAGEE and the practice of such Court. 8. To du1/, promptly and fulty perform, d~scharge, execute, effect, complete, comply w~th and abide by each and every the stipulations, agrcements, condit~ons and covenan~s in sa~d promissory note and this mortgage set fwth. 9. That in the eveM the ownership of the mortgaged prem~ses, a any part thereof, brcomes vested in a person other than the MORTGAGOR, the ' MORTGAGEE, its successors and assigns, may, without notice to the MORTGAOR, deal vrith such s~ccessw a successor in interest with referente to ihia 1 mortgage and the debt hereby secured in the same manner as with Mo~tgaga without in any way vitiating or discharging the klwtgagors' liability here- under w uFwn the debt hereby s~cured. No sale o( the prem~ses hereby mortgaged and no forbearance on the part of ahe IJIORTGAGEE or its succeuors o+ assigns and no extension ot the time fw the payment of the debt hereby secured given by the I~IORTGAGEE or its successors or assigns, ahall operate to release, d~scharge, modify change or affecl the orig~nal 17ability of the lAORTGAGOR herein, either in who~e or in part. 10. tt is spec~fically a9reed that time is of the essence of this contract and that no waiver of any obSigat~on hereunder or of the obligata~ se- } cured hereby shall at any time thereafter be held to be a waiver of the terms hereof w of the instrument secu~ed herby. I1. In add:~Io~ +o the forego'ng month!y payments of princ'pal and i~terest requ~red by the prom~swry no!e secured hereby, mortgagor covenants : and agrees to ~ay to mortgagee ~nith each monthiy payrnent an addnional sum est~mated by mortgagee to be eq~al to 1 f 12 oi the annual cost of the foilow- ' ing: i ~ I A-All real property taxrs levied or assessec3 agai•,st the above described real estate. ~ B-Prenvums on fire and windstorm insurar.ce as here~n requ~red to be carried on the ~mprovements situate on ths above described premises. ~ C-Premiums on such mortgage gvaranty ir.surar~ce as mortgagee shall irom nme to time deem fit to carry on the loan secured hereby. , } llAortgagee sh;U !rom time to t~me not~fy mortgagor in w~iting of the amovnt due and payable herevnder and such surn shall thereupon be due and ~ ~ Fayable on the due date of the next month!y payment and each successive month thereafter ur,til mortgagee shal! not~fy mortgagor of a change in such amount. Such sums sFa:f Ue applied by mortgagee toward the payment of real p~operty taxes, insurance prem.ums, and mortgage guaranty insurance ~ premiums. IN WITNE~S WHEF.EOf, the ~d MORTGAGOR has hereunto set his hand and seal the day year first aforesaid. , ~ S" al an in the p?esence of: ~ a~ ~ J ` (Sea4 cs~n r~aq ~ STATE OF FLORIDA , SS. couNnr oF St. Lucie i Befue me penonally appeared J~es A. Catel~ and Gladys M. Gately his wife, to me well known and known to me fo be the indrvidvals described in and who executed ihe fwegoing instrume~t, and acknowledged before me that they executed the same for the purposes rherein expressed. And the said Gladys bi. Gately wife of the said James A. Gately , upq~ aeparata ~nd privite examination by me taken separate and apart from her said husband, acknowledged to and before me that she executed said .i(utrvri~e~it fret~y and volurt- ~ tarify and without any compulsion, constraint, apprehens:on, o{~fear of or from her uid husband. , , WITNESS my hand and official seal this day of N ovamber /~~p; ~}q~6 . 3 ~ ~ .u ,.7....t _ ~s.c.«.-LtJ-~ - ~ Notary Public in and for the SWte of Ejori~a ~t_larpe ~ My Commissi~ ~ires: i1 rJ ~ Return To: / J` ~ First Federal Savings 3 Loan AssociatEon " ~ Of Forf P~erce. FILEO I+'~D RECORDED ~ Fort Pierce, Florida CT. L~)C~~ C~U~i~V, FLA. ~ ~ - ~ ~ . r ^ ^ ^ ~ . ~85831 F ~ This Insirument Prepared By Thomas A. ariscoll ~~9 tj(~S~ ~ 9 8~ 45 ~ First Federal Savings & Loan Association ~ ~ of Fort Piercei Florida ~ ~~i r- r~OtTR4S ~ Checked By ~ CL~ZK C1RCUIT COURT >t ~ ~ BOOK 181 PAGE 364 - ~f ~ ~ - - - - - - - ~ ~ ~ ~ ~f ~ ~:a . . __s