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Home My WebLink About0551 . ~ mortgaged property~ or if any proceeding be uutituted which might result to the determent of the use and en- joyment of the said property~ or if the Mortgagor shall make an assignment for the benefit of creditors, or if a receiver be appointed for the Mortgagor or any part of the mortgaged property, or if Mortgagor f,tes a petition in bankruptcy. or is adjudicated a banlarupt or fites any petitioa or institntes any procee~ding under tha National Banluuptcy Ac~ then on the happening of any one or more of these events, this conveyanoe shall beoome absolute and the whole indebtedness setured hereby ahaU immediately beoome due and payable, at the option of the Mortgage~ and this mortgage tnay thereupon be foreeloaed for the whole of s~id money, interest and costs; or I~tortgagee may foreclose only as to the svm past due, without injury to dus mortgage or the displacement or impairment of the remainder of the lien thereof. and at such foreclosure sale the property shall be sold subject to all remaining itenns of indebtedness; and tbe Mortgagee may again forocIoae, in the same manner, s?s often as there may be any sum past due. 8. That in case of default which would enable the Mortgagee to declare the wLole indebtedness secured hereby immediately due and payable. the Mortgagee shall be entitleii to the appoinhnent of a reoeiver of all the rents, issues and pmfi~s, regardless of the value of the mortgaged property and the soiveney or insolvency of the Mortgagor and other persons liable to pay said indebtedness. ~ 9. That the Mortgagee may oolleet a'7ate charge" not to euoeed fau cents ( 4~ ) for each dollar of each payment under the note secured by this mortgage made more than fikeen (15) days in arreara to oover the extra expense involved in handling deliaquent payments. . 10. 'That the words 'Mortgagor" and "Mortgagee' when used herein shall be taken to inelude the singular and plural number swd matc~ilinc, feminine or neuter gender, as may St the case, and shall also include the heirs, administrators, execuMrs, suooesson and assigns of the parties hereto. Fsich and alt of the terms and provisions hereof shall ertend to and be a part of any renewal ar ertension of this mortgage. 11. That this mortgage and the note secu~red hereby constitute a Florida oontract and shall be oonstrued according to the laws of that atate. 12 In order M create and maintain a fund for the payment of tazes, assessments and innurance premiums, the undersigned shall pay to the Mortgage~, in addition to payments specifically required nnder the note secured hereby, in instalments on the lst day of each month and in the amount requested by the Mertgagee, sums which when accumulated will be su~cient ( as estimated from time to time by mortgagee) to pay one manth prior to the ~ same becoming due and payable, all taxes, assessments and insurance premiums. If such sums exoeed the amount so required, the exoess may be released or held by the Mortgagee to apply on subsequent payments of the same nahue, but if such sums are insu~cient, the undersigned agee to pay any deficieacy upon demand. If the un- dersigned shall default under thia mortgage, the Mortgagee may apply all or any part of said funds then held, on any obligations sec.vred hereby. The undersigned agee that such instalments so paid may be retained and held b~ the Mortgagee without interest and shall not be deemed M be tnut funds and that transfer of the legal tide of the mortgage premises shall sutomatically transfer to the new owner the beneScial interest in the fund. 13. To furnish to the Mortgagee its successors or assigns within 6Q days after the fiscal year annual financial statements showing annual.operating income,-_expenses and such other finalcial information as Mortgagor may ~ request. . ~ -IN WITN~SS WHEREOF, the said Mortgayur has hereunto set his hand and seal the day and year first above written. " TOWER CH IGAL COMPANY ~ Signed, sealed and delivered in the (SEAL) presence of us: BY: . _ ~ ~ , 4SEAL) esid 't ~~~~~i.~iiiii~~~~ . . ~s~-)~'~' ~ ~ - • ~ . ` : `~c-: 1 : 1 ' Attest: Secretary ~ o ~ • ~ n~\~:.r ; ti . =G'~. ~.~~L~`~~ _ ~v`` ~ ~ 1 1 • v.~,' ` STATE OF I~ZORIDA, %u:.~i~'''`~ COUNTY OF ACKNOWLEDGMENT I HEREBY CERTIFY that on this day before me, an off oer duly authorizecl in the State afore.said and in the Couaty aforesaid to take acknowIedganents, personally appear~ to me known to be the per~on described in and who executed the foregoing Mortgage, and acknowledged before me that executed t~~ same for the purposes therein expressed. WITNESS my hand and o~cial seal in the County and State last aforesaid th.~ day of i A. D.19 ~ Notary Yublic, State oE FlorWa at Lrge My commission expires: ~~oK 153 551 - . y~~~:~ ~ ~ ~~~,.~~.7~ ~ _ _ ~ ~ .p ~ , _ ~ ; ~s, s~=