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To placs and continuous~y keep on the bui'dings now o~ herrafter aituaie o~ sa~d land and on ~II rqu~pment and personally covered by this ma ege, with all premiums ~hereon pa:d in futl, I~re insurance in the usual standard pol~ty torm, in a sum approved by the MORiGAGEE, and w~ndsto ~nsurante in the usual s~anda~d pol~cy form, in a sum approved by the MURTGAGEE, i~ iuch canpany or tompanief as the MORTGAGEE m duect; +nd alt firs and w~ndsiorm insura~ce po~~ues on ~oy oi said bui~d~ngs, any in~erest ihe~ein o~ pare thereof, in the agg~ega~e sum afwesa;d in •xcess ~he~eof, ~hall comain ~he us~al standard mor~gagce ciause or such othe~ c~ause as the Mo~tgagee may requ~~s, ma4ing ihe lo~~ under sa~d po c~es, each and every, payable to sa~d MORTGAGEE ss ~b in~erest may appea~, and esch and every ~uch poGCy shall be prompuy au gned and de~~~errd i eny held by s~id MORTGAGEE as (ur~her iecurity to ssid mwtgage debt, and, not less tha~ ~en (10) days in advance of the expirarion of each pol~cy, to d. I~ver to taid MORTGAGEE a renewal thereof, ~o9erher wi~h a reteipt for the prem~um ot such renewa!; and there shall be no f~re or winds~o~~n insuranc ptaced on any ot said build~ngs, any interest there~n or part thereof, unless in the form and with the ~oss payable as aforesaid; and in the ev~nt any sun et monsy becorms payable under such polity or pol~cies said MORTGAGEE shall have ~he opt~on lo recr+ve and apply the same on accovnl ol the i~xlrbtrd ness secured hereby w ro permit said MORTGAGORS to receive and use it a any part thejeof ior o:ner purpeses, wnhoot thanu~ .va~~i.3 er ~~np..~r ing any equity, lien w right u~de~ or by virtue of this matgagp; and in ths event w~d MORTGAGORS shall fw any reason fail to keep the said prem~ars so inaured, o~ fail to deliver promptly any of said poliues of insu~ance to said MORTGAGEE, or (a~l promptly to pay fuily any premium therefor or in a~y reipect fail to perform, d~scha~ge, execute, effecL complete, campty wi~h and abide by th~s cove~ant, w any part hareof, sa~d MORiGAGEE may place a:~o pay for :uth i~su~ance u any part the~rof without waiving a affettiay any option, lien, equity, or right under or by virtue o~ ~his Mortgage, and the full amounl of each and every such payment shali be immediately due and payable and s1~a11 bear interesl frcm Iho dat~ Ihereof until pa~d at the ra~e ol n~ne prr cemum per annum and to~rther with such interest shaU be stcured by the lien of this morlflage. 1. To permit, commit w suffe~ no wasle, impairrt+ent w deterioration of said properry or any parl thereof. 5. To pay all and sirgula~ the costs, charges and expenses, including a reasonable attorney's fee and costi of abstracts of title, i~curred or paid a~ any time by said MORTGAGEE, becauu a in the erent o1 tM fa~lure on the part of ~he said MORTGAGOR ~o duly, promptly and fu~ly perform, d~scharge. execute, effecf, compkte, comply wuh and ab de by each and evuy the stipulanoos, agreements, cond~t~ons, and covenants o~ sa~d promiswry no:e and ~h~s morrgage any or e~ther, ~nd sa~d costs, charges a~d expenses, cach and every, shall be immediately due and payabte; whether or not there be no~~ce dz mand, attempt to collect or suit pending; and the full amount of exh and every such payment shall bear interest from the date thereof until pald a1 the .,re of n;ne per centum per am~urn; and all said costs, charges and eapenses incu~red or paid, together with such intereat, shall be sKUred by the lien of this mort~aga. 6. That (a) in the event of a~y breach of this Matgage w default on the part of the MORTGAGOR, or (b) in t!x event any of sa;d tums of money herein referred to be not promptly and fully paid within th~rty (30) days nexf afrer ~he same severa~ly become due and payable, without demand or notice. or (c) in the evem each and every Ihe stipulations, sgreemeNS, conditions and coven~~ts of sa:d promi3wry note and th~s mo.tgage aoy w e~ther are not iuly, promptly and fully performed, d~scharged, execvted, effected, compieted, complied w~tfi and abided Sy, then in either o~ any such event the sa~d ag gregate sum mentioned in said promissory note then remaining unpaid, with interest accrued, and a11 moneys secured hereby, sha11 become d~e and pay- able fwlhwith, or thereafrer, at the option of said MORTGAGEE, as fully and completety as if atI of the said sums of money were or~ginally st~pv:ated ro be pa]d on such day, aoything in sa:d prom~sswy note o~ in this Mortgage to the contrary notwithstsndi~~; and thereupo~ or thereafter a~ the op~~on of sa~d MORTGAGEE, withoW notice or demand, suit at law a in equity, thereiwe or thereaflcr begun, may be prosecuted u if all moneys satured h~reby nad matured pnor to its institution. ~ , , 7. That in the event that at the begi~ning of or at any time pending any su~t upon this Mortgsge; or'~o faeclose it, or to reform it, w to e~fo.ce paymenf of any claims Fxreunde~, said MORTGAGEE shall apply to the Court having jurisd[ctioo thereof~fo~.the appoiMrweot of a Recerver, such Coun shaf~ forthwith appoint a receiver of said mortgaged property all and singvlar, includ~ng a:l and si~gular the income, prof~ts, issues and revenues irom whatever :curce derived, each and every of wh¢h, it be~ng expressly underatood, is hereby mortgaged as i} speuficalty set fwth and descr~bed in tfx grannng and habendum clauses hereof, and such Receiver shall have alI the lxoad and effective funct,ons and powcrs in anywise entrusted by a Cou~t to a Receiver, and r,:ch appointment shall be made by such Cpurt as an admitted equi~y and a matter of absotute r~gM ro said MORiGAGEE, and w~~hou~ reference to the edequacy q inadequaty of the value of the property mwtgaqed or to the so~vency or insotvency of said MORTGAGOR a the dzfendants, and that s~ch renrs, profin, incane, iuues and revenues shall be applied by such Receiver accord~ng to the tien o? equity of said MORTGAGEE and the practice of ~uch CcurT. 8. To duly, promptly and fully perfoim, dixharge, exccute, effect, complere, comply wirh and abide by each and every the stipulations, agreements, ccnditrons and covenants in sa~d promisswy ~ote and ih~i mortgage set for~h. 9. That in the event the ownership of the mortgaged prem~ses, or any parf thereof, becomes vested in a person other than the MORTGAGOR, the NORTGAGEE, its succeasas and assigns, may, ~vithout notice to the MORTGAOR, deal with such succeuw or successw ~n interest wirh reference to this mortgage and the debt hereby secu~ed in the same manner as with Mortgagor without in any way virtating or d~scharging the 111orrgago~i liability her~ under or upon the debt hereby secured. No sale o( the prem~ses heroby mortgaged and no fort,earance o~ the part of the MORTGAGEE or its successors or assigns and no eatension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or ass~gns, aiiall operate ~o release, d~scharge, modify change or affect the original liab~lity of the MORTGAGOR herein, either in whole w in pa~t. 1G. It is speufically agreed that time is of the essence of this contract and that no waiver ot any obl~gaYwn hereunder w of the obligation se- c~red hereby shall at any time thereafter be held to be s waive. of the terms hereof or of the instrument securtd herby. 11. In add:t;o~ to the forego'ng month!y paym.ents of princ"paI and interest reau~red by the prom~sscry no!e secured herzby, mortgagor covenants and agrees to pay ro mortgagee with each momhfy payr.sent an add~rionai sum est~ma~ed by mwtgagee to be equal to 1~ 12 of the annual cost of the follow- ,,,y: . ' A-All real property taxes levied or assessed agaiost the above described real estate. j B-Prrm~ums on fire and windstorm insurar.ce as herein requ:red to be carried on the ~mprovements situate on the above d-scribed premises. i C-Premiums on such mortgage guaranty insurance as mortgagee shali from trme to t~me deem f7t to carry on the loan secured hrreby. ~ Mortgagee shall from time to time notify mortgagor in writ~ng of the amount due and payable he~eunder and such sum shall thereupon be due and ; ayable on the due date of the ~ext month!y payment and each successive month thereafter ur.til mortgagee shall not~fy mortgagor of a cha~ge in such t a~~ount. Such sums shail be applied by mortgagee toward the paynunt of real property tazes, insurante prem:ums, a~xl mottgaye gt?arsnty insutance E c~emiums. " s IN WITNESS WHEREOF, the sa~d MORTGAGOR hss hereunto xt his hand a~d seal the day and year first aforesaid. • : Signed, Sealed and del' ed in the eunce of: R P I E • ` FILEO ANO RECOAOEO BY' c~!G~c_ : ~ _ L`,4T.lUCIE COUNTr FIA. c o s i v , resi. ~ ~ CLERKCC RCWt C~URT ATTEST • ' RFCORO vEf:~=iEO~~. e n er . i~ A ~ w sua_.~ ~ . . . _ _ ' _ - ' ~ ~ C , ~r.Trdri~ww~ ' ? i --~oir- ~ / i 225109 ~ STATE OF FLORIDA n d COUNTY OF ST. LUCIE ~ I HEREBY CERTIFY, That on this day of _ Ma rch _ , A.D. 19 72 , ~ before me persor~ally appeared Nicholas Vitkovich and Alexander H. Matz ~ ~ w respectively as _ President and _ Secretary - Treasurer _ , of i ~ Royal Palm Investments, Inc. a Florida _ _ Corporation, to me _ known to be the persons described in and who executed the foregoing instrument, and severally acknowledged the exe- _ cution thereof to be their free act and deed as such officers for the uses and pursoses therein mentioned; •nd tha,~;~illey affixed thereto the official seal of said corporation, and the said instrument is the act and deed of snid corparotion. ! " WITNESS my hand and official seal at Fort Pierce , said county stat . i This instrumemt prepared by ~ Richard K. Kayes ~ i First Federal Savings and Loan Notary Public, in and for State a d Counry "afore~td.. 4 ~ 3• ~•7?s Associ ati on of Fort Pierce, Florida My Commission Ex~D~~RY pUgL~C g'TqTE pc FLARIDA AT IARGE ~ MY C'J~h'.'~iS^4r~! i.;::~':',: 1~'S i GENcRAL !.":~i ~:~:t?;;.. _ i :y ~ Checked By h. ti~ ~ e~~ 200 ~ .748 ~ ~ - _ - - - _ ~ ~ _ ~ ~ _~-~.~•r~ _ ? ~ ~ ~ ~