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To PIKf and con?~~uousty keep on ~M bu~:d~ngi.now w hersaf~N u~w~~ on sa~d land and on ~11 eq~~pmen~ ard persona~~y coY~.ed by th~s mor~¢ wi~h sll prem~ums therea? pa~d io futl. fhe insurance m ~1w uiwl surdard polKy fwm, in ~ sum ~ppro~d by ~M MORtGAGEE. and windi~am insw~nc~ in ~M usual ~~andard pol:cy iam, in ~ ~um ~pprovad by ~M MORiGAGEE. ie such company a comp+~~es ~s ~M MORiGAGEE ~nay dirKtj and atl (ir~ and w~nds?orm inwranu po1KKS o~ any o( w~d bu+td.nps, ~ny 1nt~r~st thKein or part ihereof, in the pqrc9a~e wm alacs+~d a in ~acsss tAereof, thatl contain the usual s~andard ma~9spe~ ciau~ a suth oth~r claus~ W 1he Nlatpagt~ may rpuu~, matinp 1he lou unda sad pdi~ cte~. each a~d avery. payabl~ ~o s~~d MORTGAGEE as ~~s in~erai~ may appsa~. and each and ~ve~y iuch po~icy shatl be p~ompNy ais y~d u+d dsl~~e~ed ~o •ny heW by sa~d MORiGAGEE as furtlw~ iecu~ity to said mor~9age debt, a~d, not 1es~ tMn te~ (10) d~ys in aJvancs o( tM expira~ion ol exh poiKy, to d~- livs~ to ~sid MOR~GAGEE a renewal thcreof, top~~ha with a rxeipt (a the premiurn of tuth rcnewal; and there sha11 bt no f~re w windsrwm insurance plac~d on ~ny of s~id build~ngs. ~~y ioteresl therein a par~ thereof, unleu in the fwm and w~th tM los~ payabb u ~fa~said; and in tht event any sum of money becomes payable under fuch policy w polKies said MORTvAGEE thall Mve tM oprion ~o receive and ~pply the same on +ccoum o( the indebird- ne~s ~ecured herQby w to pe~mit said MORTGAGORS ?o teceive and vw it or any part thertol for other W~Pases, v.itl»ut th:.cu~ wai•.ing o~ ~+~~po~~- iny any equity, lien a~~ght under or by virtw of tbis morsyage; ~nd in ~M event taid MORTGAGORS shs~l fw ~ny reawn tail to keep ~he iaid pranisrs so insured, w fail to deliva p~omptly ~ny of said polKies ol insurance to s~id MORTGAGEE, a fail promptly to pay fufly any p~emi~m tF+ere~o~ w i++ +~Y .espect fail ro pe.lwm, d~scha~ge, e:ecute, tifecL complete, comply wi~h snd ~bide by this cove~wnt, a any pa+t hereof, taid MORTGAGEE may p~ace a~d pay fw iuch insurance or any pa.~ the.eof wi~hout w+ivirg or ~itectinp any optan. IiN+, puity, or right unde~ a by virtw oF th~s Mo.+9aye, and ~he fu11 amount of each aod eve?y such p~ymeM sh~ll be immedi~tely due and payabte and shall be+~ iMerest from tFa date thereof until paid at the rate of nine per centum pe~ annum and togelher with suth interest shall be secured by tM lien oi this mwtg~ge. 1. To permit, commit w suffer no wasts, impairment w dctmiwatio~ of wid properry or any p+rt lhereof. • 5. To pay all s~d singula the costs, charges and expenses, including a reasonabk attwney's fee and wsts of abstracts of title, incwred w psld ~t any time by uid MORTGAGfE, because or in the event of the failure on ~he part of the said MORiGAGOR to duly..prompHy and fully pe~form, d~xha~ge. eKxute. ef(ect. comptete. comply w~th and ab:de by each and every the st~pulations, sgreements. conditio~a, ~nd covenants of said prom~ssory ~ote and this mortgage +ny w either, and sa~d costs, charges and expenses, each and every, shall be immediately due and payable; wAetlxr o~ no~ there be notice d~ mand, attempt to collect w suit pending; and the full amount of each and every such paymern shall bea. interesf (rom the dare tF+ereof until paid at the ~.~te of nine per centum p~r annum; arw all said costs, charges and e:penus incurred w paid, together wuh such intereit, sh+ll be secu~ed by the lien of tha mpff9i~0. 6. Thst (s) in the event of any brcach of this Nbrtgsge w defaulr on the part of the MORTGAGOR, or (b) in the event ~ny of sa4d sums of money hereio refe~red to be not promptly and fully paid within thnty (30) days ncxl after the same severa:ly become due ~nd payable, withovt demand o? notice, or (c) in the event each and erery the stipula~ions, agreements, conditions and covensnts of sa:d promiswry note and th~s mwtgage any or e+~her a~e not i~ly, promptly and iully perfwmed, d~xharged, executed, effected, completed, complied with and ab~ded Sy, then in eifher or any such eveM the ss~d ag- gregate wm mentianed in said promissory note then remaining unpaid, with interest acuued, and all moneys secyred hereby, shall betome due and pay- able forthwith, or therea(ter, at the ope~on of said MORTGAGEE, as fully and complaely ai if aIl o( the said wms of mQney were orginally st~pulated to be paid o~ such day, anything in sa:d prom~ssory note or in thia 1Nortgage to the con~~ary notwithstsnding; and thereupon w thereafte~ at the optwn of said MORTGAGEE, vrithout notice w demand, suit at law d in equity, therefae o~ thereaher begun, may be proseculed as if all moneys sccured hereby had matured pnw to da institution_ 7. That in the event that at the beginning of or at any time pending any suit upon this Mortgage, or to foretlose iL o~ to refo~m it, a to enforce payrnent of any claims hc~eunder, wid MORTGAGEE shall apply to the Court having ~urisd~ction thereof fw the sppo~ntment of • Receiver, such Court shall for!hwith appoint a receiver of said mortgaged property all snd singular, includ~ng all and singvlsr the income, protits, iuues and rertrwes trom whatever source derived, eath and every of wh~ch, it being expressly understood, is hereby mwtgaged ss- if speti(itatly set fath and destribed in the granting and habendum ctauses hereof, and svch Receiver shall have all the broad and effec?ive funct~wn and powms in anywix entrusted by ~ Court lo a Receirr, and s~ch appointment shall be made by such Court as an adm~tted equity and a rt+aner o~ abso~ute right to said AhORTGAGEE, and without reference to the adequscy a inadequacy of the value of the property morfgaged or to tF~e sorvency w inwlvency of sa~d MORTGAGOR p the defendann, and that s~ch renrs, profits, income, issues snd revenues shall be applied by such Reteiver accord+ng to the lien or eqvity of s~id MORiGAGEE and the p~adice of such Court. 8. To duty, promptly a~d fully pe.form, discharge, exe:ute, effect, complete, comply with and abide by each and every ti?e stipulatwns, ~greemer?ts, conditions and covenants ~n sa~d promissory note and this mortgage set fath. 9. That in the event the ownenhip of the mortgaged premises, or any pa?1 thereof, becomes vested in a persw~ other thao the MORTGAGOR, the h10RTGAGEE, its successors and augns, may, without norice to the MORTGAOR, deal w~th such successor a successor in interesf wi+h reference to this mortgage and the debt hereby secured in the same manner as wifh Mortgagw withovt in any way vitiating or d~xharging the Nb+tgagors' liability FKrtr under or upon the debt hereby secured. No sale of the premises hereby mortgaged and no fabearance on Ihe part of the ?AORTGAGEE u iri sutcesw?s or assgns and no e:tension of rhe time fa the payment of the debt hereby setured given by the MORTGAGEE or its wctessors or assigro, shall ope.ate ro release, d~scharge, modify change o~ affM the original liab~l;ty of the AM1ORTGAGOR herein, tithe~ in whole or in part. 10. It is specifical{y agreed that t~r»e is of the essence of this contract and tMt no waiver of any oblgaf:on I~ereunde~ or of the oblgation sr cured hereby shsll al any time thereafter be hetd to_be + waiver of the terma hereof w of the instrumem secured herby. 11. In add~tio~ to the forego:ng month!y paym~ms o} princ"pa1 and ime~est required by the prom~ssory no!e secured hereby, mortgagor covenants and agrees to pay to mo:tgagee with each monrhly pay..-ent an add~rional sum es~ima~ed by mwtgagee to be equal to 1;"12 oi the annual cost of the fo~low- ;ng: A-All real property taxrs levied or assessed agai~st thc above described real estate. B-Premiums on f~~e and windstorm insurar.ce as F~erein requ:red to be carried on the imp~ovements s+tuate on the above dex~~bed premises. ' C-Premiums on such mortgage guaranty ir.surance as mo+tgagee shatl from r.me ~o time deem fit to cairy p+ the ban secured hereby_ Mortgagee sfia!I from t~me to time notily mortgagor in writ;ng of tF~e amount due and payable hereunder and such wm shall tF~erevpon be due and j F jyable oo the due date of the next moroh!y payment and each svccessive month thereafi~r ur.til mortgagee shall notify mortgagor of a charge in such i a~~ eunt. Such sums shaEl be applied by mwtgagee ta«ard the payment of reat property ta~ces, insurance p?em:ums, snd mortgage guaranty i~uuraoce ~ p~emiums. ~ IN Y~ITNESS WHEREOF, the said MORTGAGpR has hereunto ut his har+d and seal the day and ye+r fint sfwesaid. , ~ Sgned. Sealed and delivc sd in ~he P.ese~ce of: fILEO AK4 a~40~OF0 PEAR ONST ON '~.'O•••••• ~ ~ ST. L13CIE ~OUMTY FL~. (~~-1 ' ~ ROC-~ ?4tTRAS t~ ~ ~ ~ CIERK C~RCUtT GO~RT + BY• ~ ~ ' ~ a7; P.ECORO YEP~f1ED ~rY . ear P }d t PN'13 A~~= . : . _ - : : 3 SZ Philip earl, Slei~r~ 'fr~~urrsr ~ StATE Of FLORIDA ~ ~ Y . _ 253429 . ~ - • -4;~T . .3 . STATE OF FLORI~A ~ COUNTY OF ST_ LUGE ~ _4•••.-... I HEREBY CERTIFY, That on this day of ~Y ;~1~:6!"1973 , before me personally appeared ~zY L. PeaZl and Philip Pearl 4 respectivety _ President and Secretary -?reasurer , of ; Pearl Construction Co. Florida ~ ~ Inc. , ~ a ~•-~ofporation, to me , • S : /i = ~ known to be the persons.described in and who executed the foregoing instrument, and's~~Zra1?r•eckkdyyYedged the exe- t - - ~ J~:• . ~ cution thereof to be their free act and deed as such officers for the uses and pur'ose~ tbeceiQO?~Te~jtj~~;~arid that they ~ _ . t : ' . > ~ _ . ~ - ~ affixed thereto the official seal of said corporation, and the said instrument is the:ac`? :and 4!eld~o~~rporation. _ . 7~c ~ YJITNESS my hand and official sea! at Fort Pierce ' , said cou"nt~~ ~a~.1 C''a = ~ This instru,ent prepared by - ~ John W. Collins . Fizst Federal Savings and Loan ary , blic, in and for State ar Cvu aforesaid. As50CiatlOil o~ Fort P1ezCe y Commission Expires: ~A~ry P(J .IC STATE d Fl.ORIDAstURGE ~IY C~S':sSISSI~N El(PIP.ES DEC. 29. 1°)S ~ isv~~GcO ~+•r.eral lnsrr~nteUnOtrrrrten. Checked By~- E ~A~~ 2037 js - T - . ' _ - ' ' ~„f G ~,"«a ~ _:k";