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ASSIGI~II~I~R OF SBN'!'S
14?is Agreesent made this 18th day of Decesber, 1970, by and betveen ~
11 and as ?rustee hereinaftar termed tbe OWaer, and ~
DAVID R. LANGFTiT, Individua y . '
T!t• Indian River Citrus Eank, a Florida Banlcing Corporatioa, hereinafter tersed the
baak.
WITNBSSBTN:
Whereas, the OWner is indebted to 1~8 INDIAI~ BIVBB CITRUS BANR, in the amount
of Siaty-1Vo 'fiousand and No/100 Dollars ($62,000.00) as e~ridenced by a promisaory note
of an even date in aaid amaint, repayable ia the asount of($768.74), Sa~ven Hundred Sizty-
Bight~snd .74/100 per mcnth, ANO
i1RBRBAS, the Ovner is the fee aisple owner of certain real estate aituated in
the Citq of Ft. Pierce, St. Iucie County, Florida, Wt?ich real estate, together ~rith the
buildings aad imprrnrements thereon, have been leased to the Southern Bell ?elephone and
Telegraph Oo~arpany, bq Indenture of Lease dated October 21, 1970, aad recorded in the
Public Recorda of St. Lucie County, Official R~ecord Book Page on the
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3` day of ~t~r~nEt6R , ~970; APID:
NRBREAS, the said Lease is for a term of ?ea (10) years at an a~mual rental
of 1Velvf -~ousand nin~ huadred seventy-fvur and .52/100, ($12,974.52), paqable in equal
u~onthly install~ts of One lfiousand Bightq-One and .21/I00, ($1,081.21), and the parties
desire that the rentals falliag due under said Lease ahoald be assigned to THE IIIDIAI~ SIVBB
CITRUS BAI~IIC, for the pay~a+at of said prvmissory note hereinbefore mention~d and the balance
thereof to be held in b~ank accouat #122-00-572-3 vith TAB II~IAN BIV88 CIT~JS BAIaC
! entitled Ft. P. Mo. 2 A.T.T. for the paym~nt of real eatate ta~ces on t6e property crnrered
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~ by said I.ease. ~
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F 1, That the OWaer does hereby assign the rents due and to becos~e due under said
~ Lease to THE INDIAN BIVER CITRt~S BAN~ and doea direct said Bank, upon receipt of said ,
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~ m~nthly fentals from the Lessee, Southern Bell Telephone and Telegraph Company? to place
the sa~se in the said account #122-00-672-3 and to withdra~r fron aaid account in monthlq ~
installmeats an amaint sufficient to make the paymeats of principal and intereat due under
the note hereinbefore described and to retain the balance in said e~cro~ accauit for the
purpose of paying taxes, insurance and other nece~sary expenses for aaid building.
~ 2, ~e Owaer does hereWith agree that said Bank shall forthvith notify th~
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~ Southern Bell Telephone snd Telegraph Covpany of thia Assignsent and request that all
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~ payments of rent ahall h~reafter be made directly to THB II~DUI~i 1tIVBR CI1`RUS BAIaC.
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