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CONDITIONAL ASSIGNMENT OF AGREEMENT FOR LEASE !
KNOW ALL MEN BY THESE PREEENTS:
THAT WI~REAS B. BOYD BENJAMIN and JUNE F. BENJAMIN,
his wife, hereinafter referred to as "Assignors", have acquired
title to the following described property in fee simple, to-
wit :
. The North 225 feet of the East 200 feet,
less the North 40 feet, of the NW~ of
the NF}~ of the SW~ of Section 8, Township
35 South, Range 40 East, St. Lucie County,
Florida.
AND WHEREAS under date of the ~,~day of January,
1973, said Assignors entered into an agreement with Florida
Power & Light Company, a Florida corporation, for a lease ~y
B. Boyd Benjamin and June F. Benjamin, his wife, to the
Florida Power & Light Company of the above described property~
j AND WHEREAS the said Assignors have executed and
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# delivered to PEOPLES FIRST NATIONAL BANK OF MIAMI SHORES, a
~ national banking corporation, hereinafter called "Assignee",
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~ a mortgage bearing date the 19th day of January, 1973, and
~ encumbering the above described property in order to secure
~ an obligation of $256,000.00, and the said Assignors have
~ executed and delivered a note in favor of Peoples First Na-
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~ tional Bank of Miami Shores in conjunction with the aforesaid
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~ mortgage.
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AND WHEREAS the Assignee is unwilling to consummate
the said mortgage loan unless and until said Assignors further
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secure the payment of said indebtedr~ess by conditionally assign-
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ing the aforesaid Agreement for Lease,
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U1W OFFICES OF - PRUNTY. ROSS, OELOACH 6 OISEN • 837 CITY NATIONAL BANK BUILDING - MIAMI. FLORIDA 33I30
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