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To place and cont~n~ov~ty kerp on the bui'd~ngs now o~ hereafter ~ituat~ on seid land and on all equ~pment and personally covered by this ma sgs, with all premlums ~here~in pa~d in ivll, f~re insurance in the ~sual s+andard policy form, in a sum appro~ed by Ihe MORIGAGEE, and w~ndsto insuranct i~ the usual sundard pot.cy fwm, in s sum approved by the MORiGAGEE, in such company a companies as the MOR7GAGEE m diroct; •nd all fire and w~ndsto~m insurance polic~es on any of said buitdm9s, any inteiest therein or part the~eof, in the aggrega~e tum afwesaid in eacest the~eof, shall contain the usval standard mo~~gaqee clause oa such o~her cliuse a~ the Mwtgagee may rcquu~, making the loss under ~a~d po c~es, each and eve~y, payable ro said MORTGAGEE ~s ~ts imerest may ~ppear, and each and every such po~~cy ihall be promptiy ass.gned and del~vered ~ any held by sa~d MORTGAGEE as furthe~ secu~ity to sald mortflage debt, and, not leu than ten (10) days in advance of the expirat~on of each pol~cy, to d~ I~~er fo taid MORTGAGEE a ~enewal thereof, fogether wi~h • rece~pt for the p~emium of such renewal; and ~here shall be ob i~re or windsto~m insurenc plxed on any oi said buildings, any inte~est therein w part thereof, unless in the form and with the loss payable as atoresaid; and in the event any sun of money becomes payable under such policy a pol~~ies said MORTGAGEE shall have the opt~on to receive and apply the same on accoun~ o( ?he indrbrcd ness secured hereby w ro permil sa~d MORTGAGORS to reteive and us~ it a any part thercof for oci~cr µurposes, w~ihous ih~..u~ wai~~ i;7 0~ unppir in9 any equity, lien w right under or by virtue of this mo::yage; and in the event w~d MORTGAGORS shall for any reawn fail to keep the said prem~srs w insured, w fail to deliver promptly any of said policies of insurancs to said MORTGAGEE, or fa~l promptly to pay futly any pre~ni~~n therefor or in a~y respect fail to perform, discharye, eaecute, ei(ec~, tomp!ete, comply wi~h and ab~de by this tovenan~, a any pa~t he~eof, sa~d MORTGAGEE may place a~~o pay fo~ tuch insurance or any part thereof w~thout waiving or affecting any option, lien, equ~ty, or right under or by virtue of this Mortgage, and the full amo~nt of each and every such payment shall be immediately due and payable and shall bzar interest from the date ~hereof until poid at the rate ol nfne per centum pe~ annum and to~ethe~ with such interest shal~ be srcured by the lien of this mortgage. 4. To permit, commit or suffer no waste, impairment w deterioration of said property w any part the~eof. S. To pay atl a~d a~ngulsr the costs, chargei and expe~nes, including a reasonab!e attwney's fee and cosfs of abstracts of titte, incurred or pa~d at any time by said MORTGAGfE, because a in the event oi the failure on Ihe parl of ~he said MORTGAGOR Io duly, promptly and fully periwm, d~scharge ~xecute, effect, complete, comply w~th and ab:de by each and eve?y the siipula~~ons, agreements, conditions, and covenants of sa~d promissoiy note ar,d rhis :nortgage any o~ e~ther, and sa~d costs, charges and e:penses, each and every, shall be immed~ately due and payable; whether w not there be no+ice dr mand, attempt to colled w suit pending; and the f~ll amount of each and every such payment shall bea~ interest from ehe date thereof until paid at Ihc ~ate of nine per centum per annum; and all said costs, charges and expenses incurred or paid, togelher wAh f~ch interesl, ~hall be setured by the lien of Ih~! mort9age. 6. That (a) in the evenf of any breach of this Mwtgage w defaul~ on the part of the MORTGAGOR, or (b) in the event eny of sa:d sums of rtwney herein referred to be not promptly and fully paid wi~hin th~r~y (30) days next after the same seve~atty 6ecome due and payable, witt~out demand or notite, or (c) in the event each and every the stipularib~s, agreements, cond~T~ons and covenants of sa d promissory note snd ~h~s mortgage any a e~ther are nof ~uly, promptly and fully perfamed, d~scharged, executed, effected, comp~eted, compl~ed with and ab~ded 5y, then in either or any such event the sa~d ag gregate sum mentioned in said promissory rwfe then remaining unpaid, with interest accr~ed, and atl moneys setured hereby, shall become d~e and pay- able forthwith, or thereafter, at the option of said MORTGAGEE, as fully and completely as if all of the said sums of money were or~ginatly st~pulated to be pa~d on such day, anything in sa:d prom~sswy note or in this Mortgage to ~he conrrary notw~~hstanding; and ~hereupon a thereafte~ a~ fhe opnon of sa~d MORTGAGEE, without notite or demand, suit at law or in equity, therefore or thereaiter begu~, m~- b~ pos~t~tld "M~'sf all mpntys sdcvr~d hereby . n~d matured pnor to As irutitut~on. , ~ , i 7. That in the event that at the beginning of or at any time pending any suit upon this M~PI~sge ~S~•tO~~~~yott i.t, o~ to nfMwi it, dk-fo enforce paymcnt of any claims hc.eunder, said MORTGAGEE shall appty to the Court ha~ing junsd~c<<on th~r t~apj~o4~ment of a TtGSe~ve~, sufh,4y~xt shafl Forthwith appoint a ~eceiver of said morfgaged property all and singular, irxlud;ng ait and singular ~;~pM~ p~ofits, issues and~evenues~irom whatever sour~e derived, each and every of wh~ch, it beirg expressly understood, is F+ereby mor~gaged as if spec~fically xt forth and described in the granting and habendum clauxs hereof, and such Receiver shall have all the broad and effective funct,ons and powers in anyw~se entiusted by a Court to a Receiver, and s, ch appointment shall be made by such Cour~ as an admitred equity arte! a matter of abseiute rigM fo said MORTGAGEE, and wiahout re~ererxe to the adequaty or inadequacy of the vaiue of the property mo~tgaged or to the so~vency or inso~vency of said MORiGAGOR or the defendants, and that such renrs, profits, incane, issues and revenves shall be applied by such Receiver accord~ng to the lien or equiry of sa~d MORTGAGEE and the praa~ce of such CouA. 8. To duly, promptly and fully perfwm, discharge, execute, ef[ect, complete, comply with and abide by each and e~ery the stiputations, agreements, conditans and covenants in sa~d promissory note and th~s mortgage set forth. 9. That in the event the ownership of the mortgaged premises, w any part thereof, becomes vested io s perso~ other than the MORTGAGOR, the .b!ORTGAGEE, its successors and assigns, may, without notice to the MOR7GAOR, deal with such successo~ a successw in interest with ~e~erence to th~s rre~tgage and the debt hereby secured in ihe same manner as with Mortgagw without in any way vitiating or d~xha~g~ng the Mortgagori liabil~ty here- under p upon the debt hereby secured. No sale of the prem~ses hereby mortgaged and no forbearance on ~he part of ~he JdORTGAGEE or its s~ccess.xs or assigns and rw extension of the t~me fw the payment o1 the debt hereby secu~ed given by the MORTGAGEE or its suctessors or auigns, snal{ operate ro release, d~xharge, modify change or affect the original liability of the MORTGAGOR herei~, eithcr in whofe or in pa~t_ 10. It is specifically agreed thst time is of the essence of this contract and that no waiver of any obligation hereunder or of the obtgation se- :ured hereby shali at any time thereafter be held to be a waiver of the terms hereot or of the instrument secured herby. li. In add~tion to the forego'ng monthly payments of p~inc'pal and interest requ~red by the promissory note secured hereby, mortga~or covenants and agrees to pay to mo:tgagee w~th each monthiy payment an add~~ional sum est~mated by mortgag!e to be eqval to 1;' 12 of ~he annuat cost of the foflow- ~ng: li A-All ~eal property tazes lev~ed or assessed against the above described real estate. i B-Prem~ums on fire and windstorm insurar.ce as he~e~n requ~red to be carried on the improveme~ts s~tvate on the above described premisei ~ C-Premiums on such mort a e ua~ant insurar:ce as mo~t ~ g g g y gagee shall from rime to time deem fit to carry on the loan secured hereby. ~ Mwtgagee shail fiom time to time ~otify mortgagor in writing of the amount due and payable hereuodrr and such surn shall Iher~upon be due and ! ~ayable on the due date of ~he next month:y payment and each s~ccessive month thereafter ur.ril mortgagee shatl notify mortgagor o( e[ha~ge i~.such . aTouni. Such sums sFa;l be applied by mortgagee toward the payment of real property taxes, insurance prem;ums, and mortgago Quaranty insura~ i oremiums. ~ ~ , _ - ~ _ . f IN WITNESS ~uHERfOF, the sa~d MO TGAGOR has hereunto set his hand and seal the day and year first afwesaid. ' s s~9~,~a, s~ai~a a~d des„ ~d ~ exnte of: `%L OY L P UN TMBi~TS INC. ~ ~ r - ; f 0 a~1[ RECORDED BY ~ ~ ~~"L , (A,aA : ~ _ . LUC~t ~'OUMTY fLA. Nicholas Vitkovicb Pzesi € RU:::' i°OiTR~S i~ ~n r Ct~kl. ~"::UiT COURT,~ ATTEST: • ' t5ea1) : rc~r~:~~ ~f~- -~E~_..._-- Ale ander H. Matz ecretar _ , lEraq ~ - - - - - ~ - - - ~reasurer ~ ~t / i8 i~f ?1 - - ~ STATE OF FlORIDA COUNTY OF ST. LUCIE ~ ~ 1 HEREBY CERTIFY, That on this day of March , A.D. 19 72, h before me personally appeared Nicholas Vitkovich and Alexander N. Matz ~ respectively as President and Secretary - Tzeasurer , of : 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 ihe uses and pursoses therein menlioned; and #?at tiwy . = affixed thereto the official seal of said corporation, and the said instrument is the act and deed of said corporation. > K WITNESS my hand and official seal at Fort Pierce , said co and s te. ~ This instrument prepared by ~ _ ~ - Richard K. Kayes Notary Pub ic, in and for S ate and Courlty ~#,pre~i ~ _ First Federal Savings and Loan . . _ ~ _ Association of Fort Pierce, Florida My Commission E~i' ~~;~,g~~g~tCSTATE!~~rtnrIDAAY~.ljRGE tdY G`: ~'.T~ ;:.='Q+~ , : ~ ~'1975 3.~ • " GEN~F..iL I~i~iJTi.ii:;t .fi.~~i:.:P,ITE!2S, {:1C. = Checked By t~-- dooK 200 racE .?52 ~ _ _ - - - - - - - - ~ ~ ~ - - `~J~,~,Y~ TY`s ~ ~?_~x~ 1-. , ~ ~ ~ r