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To place and continuously krep on the kwi!dings ~ow w hereafte~ iituste o~ said land and on ali equipme~t and p>nonally covered by this mort~ age, with afl premiums ~hereon pa;d in full, fire insurence in ~he u~ual siandard pol~cy form, in a s~m approved by tha MOR~GAGfE, and windstorm i~surance in the usual ~~andard pol~cy fam, in a sum ~pproved by the MORTGAGEE, in such company or co~npan~es as fhe MORT,riAGEf may direcl; and all fire and wfndstorm insuraace policies on any of said build;nps, any interest therein or part thereof, in ~he aggregare sum afwesaid w in exceas thereof, shall contain ~he usual staodard matgagee clause w such oiher clause ss Ihe Matgagee may requ~re, mak~ng the loss undcr said poli- cies, each and every, payable ro said MORTGAGEE as its iMerest may appear, and each and eve~y wch pohcy sha!! tx p~on+prly ass gned and detivered to any held by uld MORJGAGfE a: (urther security to said mortgage debt, a~d, not less ~han ten (t0) days in adva~:ce oi ~he expirat~on of each policy, to dr liver to said MORTGAGEE a ~enewal thereof, togelher with a receipt for the premium of such renewal; and there shafl be no f;re or windsto~m insurance placed on any oi said bvildings, any interest therein or pa,t theieof, unleas in the form and with ~he loss payable as aforesaid; and in the event any sum of money becomes payable under such policy a pol~cies said IAORTGAGEE shall have the opt~o~ to receive and appiy the same o~ account of the indebted- ness securrd hereby w to permit said MORTGAGORS fo receive and use it or any part the:eof for orh.•r pu.f~csrs, ~•.;~ho~r 1h~rri,,~ ,vaivi.~~ or impair- ing aay equ~fy, lien o~ right under or by virtue of this mo:!gage; and in ~he event sa~d MORTGAGORS shall for any reason fail to keep thc sa~d premises so insured, or fail to dalivei promptly eny of said poGc~es of insurance to sa~d MORTGAGEE, or fail promp!ly to pay futly any pre,n~um therefw o~ in any respect fail to perform, discAarge, execure, eflett, complete, comply wieh and aEide by this cove~ant, or any part hrreof, said MORTGAGEE may pl~ce and pay (w such insurance or a~y part thereof withoul waiving w affeding any option, lien, equity, or right unde~ a by virtue oF this Matgage, and 1M full amount of each and every such payment shalt be immediately due and payable and shall bear inte~est f~om ~he date thereof until paid at the rate ol nine pe~ centum per annum and to~ethrr with such interest shall be secured by the lien of this mortgage. 1. To permit, commit or suffer no waste, impairment or deterioratio~ of said property w any part thereof. 5. To pay all and singular the costs, charges and expenses, i~cluding a reasonable attorney's fee and cosrs of abstracts of t~tle, incurred or paid a~ any time by said MORTGAGEE, because w in the event of the failure on the part of ehe said MORIGAGOR ro duly, prompily and fu11y perform, d~scharge, execuie, elfect, complete, comply w~th and ab:de by each and every the stipula~~ons, agreements, conditions, and covenants oi said p~o~nissory note and ~h~s mortgage any or either, and said costs, charges and expenses, each and every, shall be immediately due and payab:e; wherher w not there be no?~ce de mand, attempt to co!lett w svit pending; and the ful) amovnt of esch and e~ery svch paymeM shall bear interest from the date thereof unti~ paid at the rate of nine por tentum per annum; and all aaid tosts, tharges and exper.ses i~curred or paid, together w+th such interest, sFull be secured by the lien of thi~ mortgage. 6. Thaf (a) in the event of any breach of this Mortgagr or default on the pa~t of the MO~TGAGOR, 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 severally become due and payable, without demand w notice, or (c) in the evem each and every the stipulations, agreemenrs, condfrions and covenants of sa:d p.omisso~y nore and th~s mortgage any a e~ther are oot ~~ly, promptly and fully performed, d~scharged, executed, elfected, completed, compl~ed wi~h and ab~ded tiy, then i~ e~ther w a~y such event Ihe said ag- gregate sum mentioned in said promissory note then remaining unpaid, with interest accrued, a~d afl mo~eys secured hereby, shail become due and pay- able forthwith, or the~eai?ei, a~ ~he opt;on of said MORTGAGEE, as fully and completely as if all of the sa~d sums of money were w~ginaliy st~pulated to be pa~d on such day, anything in sa:d promissuy note o~ in this Mortgage to the contrary notwithstanding; and thcreupon w thereafter at the option of said MORTGAGEE, w;thout notice or demantl, suit at law or in eqvity, therefore a th~reaiter begun, may be prosecufed as if all moneys setured he~eby fwd matured pnw to its institutioo. 7. iha~ in the event that at the beginning of or at any t~me per?ding any suit upon this Mortgage, or to foreclose it, or ~o reform if, or to enfwce payment of any claims he+eunder, said MORTCtAGEE shatt appty to the Goun havirg ~vrizd:ctioa thereo! for the apy~o+nlment-of a keceiver, svch ~ourt shall Fathwith appoinl a receiver of said mortgaged properfy all and sirgular, includ~ng atl and singutar the incame, proi~ts, issues and revenues from whafeve~ source derived, each and every o( which, it bein9 expressly understood, is hereby mortgaged as if speuficatty set forth and described in the granting and habendum tlavses hereof, artd such Receiver s}wll bave all the broad and effective funct,o~s and powers in anywise entrusted by a Court to a Receiver, and such appointment shaii be made by such Court as an admitted equity and a matter of absotute right to said MORTGAGEE, and withoul reference to 1he edequacy or inadequacy of tne vatue of fhe property mortgaged or to the sotvency or insolvency oi sa;d MORTGAGOR or the defendants, arsd that such rents, profits, income, issues and revenues shall be applied by such Receiver according to the lien or equity of said MORiGAGEE and the pradice of such Court. 8. To du~ promptly and fully perform, dtscharge, execute, effect, complete, comply w~rh and abide by each and every the slipulations, agreements, conditiona arx( " venants in sa~d promissory oote and this mortgage set fwth. 9. That in the event the ownership of the mottgaged premises, w any part thereof, becomes vested in a person other than ihr MORTGAGOR, the MORTGAGEE, its suctessws and assigns, may, witlwut notice to the MORTGAOR, deal with such successa a successor in interest with reference fo this mortgagt and the debf hereby secured in the same manner as with Mortgagcr without in any way vit~ati~g or discharging the Mor~gagors' liability here- under or upon the debt hereby secured_ No sale of the premises hereby mortgaged and no forbearance on the parl of the MORTGAGEE w its successors or assigns and no extension of the time fw rhe payment of the debt hereby secu~ed given by tF~e MORTGAGE~ o~ its successors or au~gns, ,hall ope~ate to release, d~scharge, modify change or af(ect the original liabitity of the AM1ORiGAGOR 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 obl~gar~on hereunder w of the obligation sr cured hereby shafl at any time thereafter be hetd to be a waiver of the terms hereof a of the instrument secured herby_ il. fn add~tio~ to t~e forego:~g monthly payments of p~inc"pal and inrerest requ~red by the promissory note secured hereby, mwtgagor covenants and agrees to pay to mo: tgagee w~th each monthly payment an add~~ional sum est~mated by mortgagee to be equal to 1/ 12 of the annua~ cost of the follow- ing: A-A(1 real property taxes levied or assessed against tAe above described ~eal estate. B-Prem~u,ns on fire and windstorm irtsurance as herein requ~red to be carried on the improvements situate on the above described premises. C-Premiums on such mwtgage guaranty insurance as mortgagee shall from t:me to ti~ne deem fit to carry on the loa~ secured hereby. Mwtgagee sh;l! f~om ti~ne to time notify mortgagor in writing ot the amount d~e and payable hereunder and such sum shall tFereupon be due and payabte on the due date oi rhe next monthly payment and each successive month thereafter untit mortgagee shall notify mortgagor of a change in such amount. Such sums shalt be applied by mortgagee toward the payment of reat p~operty tazes, insu~ance prem:ums, and morigage guaranty insurance premiums. • . !N W TNE55 WNfREOF, rhe said M9RTGAGOR has hereunto set his hand and seal the day and year first aforesa~d. S' , Sealed a~ deliv ~ , ~ presence of: aQ SesQ ~ Ses4 ___s .._„~'t-aQ TATE OF FLORIDA S~° t f~ ~ cour,nr oF St. Lucie ~ ' - ~ ! J . ~ ; . Before me personally appeared W~ZZ1~ L Baile = a-~: Lois S. Bailev :b : ` ~ ~ his wife, to me well known.afld, w~ir fo;;qa, {o~bw tha individuals dexribed in and who executed the foregang instrument, and acicnow(edged before me that they executed tlisssy~ fp "t~ ptypbses fherein expressed. And the sai LOi3 ~.~@y • -~'j - Wil~iaa L Ba ey . - ; wife of the said ~ upon ~ •~•~.~~d txlvat~ examination by me taken separate and apart from her said husba , acknowledqed to and before me that she exetuted said instnxnefit, r.ee1~ ~ii~1~ voluo- tarily artd with.wt any comFuliwn, constraint, apprehension~,7or- s~ of or from fxr said husband WITNESS my band and official seal thit day of ril ~ p. 19 / o ' Notary !ic in and for the Sfate of Florida at luye ~ My Commission expres: Return To: ' . fint Federal Sav~ngs b toan Assoc~at~on 1~UTA8Y Pii3UC~ SiAYE OF fLOR;Ld tTT LARo£ Of Fort P~erce. MY COMMISSION EXPIRES NUV. 19~ 19T1 pNDEQ 7HROVQN FR~p p~E4T[CNQRir FQrt Pierce, florida FilEO AND RECORD~D~ ST, lUC1E COUNTY. FLA: ;<E.COR.^. ~'~RIFIFO This Instrument Prepared By James D• Ghastain 1~,Z~SJ First Federal Savings & Loan Association • of F~rt Pierce , Florida ,7p ApR 27 PM 2: y Checked By . ~ c M ~ ~ tZpG~:~ ~ Ot~R~S BOQK~04 pACE ~LERK CIRCUIT COURT'; - - - - ~ _ ~ ~ _