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COLLATERAL ASSIGNMENT OF RENTALS :L4~6;3~
KNOW ALL MEN BY THESE PRESENTS. that W. G. GUNNOE, also known as
WilburGunnoe, and hereinafter called Assignor. for
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' valuable cons~deratioa, the receipt of which ts hereby acknowledged. hareby
aells, aasigns, tran~fera and sets over unto RIVE SIDE BANK. a Florida
bankin~ corporation . hereinafter called Aasignee. it~_
succ~rs?nd as~igns. all right, title and intereat of Assignor in and to ~e
following described leases:
1. Lease Agreement dated April 2, 1964, between Wilbur Gunnoe, as
Lessor, and Pan American Tire Co. of Ft. Pierce, Inc., a Florida corporation,
as Lessee, with respect to the following described property:
2903 South 4th Street or the East 300 feet of Lot 47, Maravilla
Gardens Subdivision, Unit 1, Plat Book 6, page 55, Saint Lucie
County, Florida.
2. Lease Agreement dated January 1, 1966, between Wilbur Gunnoe,
as Lessor, and Kathieen Leah Corporation, a Florida corYsoration, as Lessee,
with respect to the following described property:
Lots ,31, 32 an~ 33 of Block 5 of Biscayne Gardens, Section "F" .
Part Two; according to the plot thereof recorded in Plat Book 50, ~
at page 8 of the Public Records of Dade County,- Florida.
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together with all rents, income, benefits and advantages to be der[ved there-
from, as coliateral security for the performance of alt the terma and conditiona
of the promisaory note and mortgage of even date herewith, between the
Assignor as Mortgagor and the Assignee as Mortgagee, and intended to be
recorded, and agrees, for themselves ~ their heirs and assigne,
as follows:
1. That if default shall be made in the makiag of any payment or
payments under or ia the performance of any of the terms and conditions
of •aid promissory note aad mortgage. ~ A~signee, its succeesors or assigna,
may, at ~t~ optioa, thereupon and from time to time so long as any default- ,
or default• tbereunder ihall continue to esist~ exercise al~. the righta and
privileges of Ass~gnor undar •aid leasea above described, including the
right, if deemed necessary to Assignee to enter into posses~t~on.of the
deaiiaed premt~es for the purpose of collecting rent or any other sums
payable thereunder. and ahali apply ali sumi collected toward payment of
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