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hearing within which to obtain adeyuate casualty, property
damage, and liability insurance equivalent to the
insurance that was existing previous to cancellation ~in
March of 1987 and to provide proof of said ~coverage to
this court and to counsel for the Plaintiffs. Said
~ insnrance coverage sha12 show the first and second
mortgaqees as loss payees as their interest appears and
said coverage must be obtained and paid £or and proof of
said coverage and payment for said coverage must be
submitted to this court and to the attorney for the
" Plaintfffs on or before 4:38 p.m. April 13, 1987. ~
3. Appointment of Receiver: In the event the
Defendants, FRANCISCO SIGVA an8 MARIA SILVA, his wife, -
fail to obtain and pay for insurance coverage as set forth
above and provide proof of said coverage and payment to
this court and to counsel for the Plaintiffs on or before
' 4:34J p.m. Monday April Z3, 1987, then this court hereby
appoints William F. Donovan of the City of Fort Pierce,
County of St. Lucie, State of F2orida as Receiver of the
property which is the subject matter of this foreclosure
action and said Receiver shall have all powers to collect
future rents, make improvements necessary to obtain
insurance coverage on the subject property, obtain
. insurance coverage on the subje~t property, and to perform
' all duties imposed upon him by the Statutes and the laws
,
of the State of Florida. Said Receiver, before entering
upon his duties as such Receiver, -shall post a bond with
this cour-t in the sum of $5,A0g.80, conditioned upon the
faithful performance of his duties. Further, should the
collection of rents not be sufficient to make said
improvements or pay for said insurance coverage, then the
Receiver may apply to the first or second mortgaqees of ,
the subject propexty to obtain additfonal funds to either
make improvements or obtair~ insurance coverage and any
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