HomeMy WebLinkAbout0969
T
1 . {
BUOic _ 26 PACE2b9
ST. LUCIE COUNT~• fLA.
as therein more fully described, such Short Force l.esse being recer.~.ed in the records of
_ s ._ ~ni a County, lrl~~.~. ~ Scwk 12 ,_„~ , P= .
sad cbe aadersigoed hereby authorize(s) and direct(s) Phillips to pay each rentals to raasfte.~
tion, pro•idsd, howeser if the mtderslgaed sbsll pay or cause to be psiti to,, Traaspoctatioa cbe
principal amount of the pcocsissory note of the caderailtned of even date herewith, togedcet
with Interest cbereoo, T4 accordsace with the tetras gad coaditioru efist+eof, for the secutlag of
which this assignment is ssecwcad gad delivered, gad :ball comply with a:l cbe tsrna gad
conditions of the - Hortaaae :ikewise of even Qace h:rewith gad likewlsi
(insert document of mortgase)
e:ecuced gad delivered to secure sncb note, th-n t}.is assignment shall become anll gad void and
of no ttcccker effect; bet aothiag is this proviso sha21 impose any obligation or dnt~ npoa PhlUlpi'
co make gay Inquiry as to whether or not this asaigameac is io fnU force and effect gad It mall
be fully protected in paying said reotals w TtaaEpo•tacioa until directed otherwise by Tepsp~eru-
tioo, gad, until so directed, sncb payments shall, ao far as Pbilllps Ts cacceraed, be eonaldsrsd
payments co the undersigned as lessor, irreagective of whether or not saki iadebtedaeas boa bees
discharged. It is n~cderstood and agreed that noc'aiag is this :.ssigameat will be deemed of csnsttued
to impose upon Traaspoetatioa any of the obligaticaa, liabilities or dntiea of the usdenlgned u
lessor under sacb Lesse Agreement.
The nndersiga'd emderscaa~s) that Traaaportatiac intends to sell, assisa gad eranstsr all of
the right, tide and intcresc is gad to for aforementioned rentals acquired by it paanaat to tbb
assigameoc and the nadetsigaed conssat(s) to sncb s--:le, assigamecc and traaskr, iocla3lag ao)r
sale, assignment or transfer which may be made co BANKERS TRUST COMPANY gad ~. R.
MESSENBRINR, as ceustees (Bankers Trust Ca.:~Y::.~ gad •. R. Messeabriok belag herelssher
collectively refen+ed to as ide "tmatete") Hader :Collateral Trust Indenture, dated u d Nay 1S,
1960, to which Traasportatioa is a party.
If say liens, encumbrances or cbargea of gay kind based on claims of gay triad agatnat the
undersigned, inclndiag claims for income, franchise or ocher a:es based oa income (whether
Federal, State or otherwise), are asserted a 61ed against the renuls sold, assigned gad ctans-
ferred bercby, or if any order (whether or Hoc valid) of any covet shall be eaceaa with respect to
said rentals by virtue of gay cLims of any kind sgaiaat the undersigned, in either cue so as ce
incerferc with the due paymeac of said rcatsls to dce tmsaees, or the due application of said rentals
by the trustees to ohs serslcz of :he SR.:ured Nxes issued by Ttaospottation and aecnrcd by the
aforesaid Indenture or so sa to subject cbe holders of said SecvteC Notes to gay obligatloo to eepay
gay amounts received from cbe traatees, or if cbe trustees shall refuse to so apply said rental
because of a threatened or pending suit in gay court as a result of which the trustees in good
faith coaaider they may have peraoaal liability is they do so apply them the occutienee of any
of which events cbe uadtnigaed bercby agree(s) to prevent, gad If Phllllpa or the truatse (1) take
surf action as may be accessary oo prevent, or to nulli[y d-e caur~e of, such incerfercnce, sncb
obligation of the bolder: to rcpayaay •mouaa received from the traatses or sncb poaslblllq of
personal liability of -be trostees for applying rentals a if (ii) P6Illlps pays to the ttnstees cub,
in addtioa to the as3igaed [entala, in sw amount equal t0 the amount Of the nmtsls die payment
of which oo the trnscees or the appli'catloa of which by the trustees shall ha•e been Interfered
with plea, to the a:teat permlaed by law, to amount sufficient co pay interest oa overdae interest
oa cbe Secured Notes to the sstent therein required =a the event that there has been any delay lA
cbe ins:aUmeac payments to the Secured aotea, or If, (iiI) Pbilllps iademnifles the trustees agplttst
gay personal liability which may arias from applying suck rentals and the holders of Secured Notes
againar any obligation co tepiyaay amounts received from the truacess, Phillips gad tastesa or
either of them being bercby ancboriud to take sacb action gels contemplated ejt clauses (i),
(Ii) and (ill) above, then cbe naderaigned will praspdy reimburse Phillips a tht ernstta et both,