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ASSIGNMENT OF RIGHTS OF ENFORCEMENT IN MORTGAGE
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STATE OF FLORIDA,
ST. LUCIE COUNTY.
We, the undersigned,~,t~Eing the owners of a purchase money
£irst mortgage (and the indebtedness secured by it) made by
SOUTHALL, INC., a District of Columbia corporation, for
$75,000.00, secured by three separate promissory notes, one
in the amount of $37,500.00 to Spencer B. Gilbert, one in the
amount of $18,750.00 to Spencer B. Gilbert and George Horowitz,
as guardians of Alfred Jeffery Horowitz, a minor, (said
guardianship having been terminated on May I1, 1971), and one
' in the amount of $18,7SO.Q0 to Marty Gilbert Horawitz, all on
the 27th day of August, 1970, and recorded in 0. R. Book 186,
at page 2121 of the public records of St. Lucie County, Florida,
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E for valuable considerations, do assign our right of enforcement
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National Bank of Fort Pierce, Fort Pierce, Florida, who is
acting as the agent for collection and distribution.
This assignment shall also secure the payment of any £uture
advances or loans that may be made by the assignee to the assignor
at any time within ten years hereafter even though no indebtedness
is outstanding hereunder, provided that the maximum principal ;
amount of monies so secured shall not exceed $ZS,000.00
at any time, and provided further that such advances or Ioans
shall be evidenced by separate written instruments to invoke
the terms hereof. ;
It is expressly covenanted and agreed by the parties hereto, as ~
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