Loading...
HomeMy WebLinkAbout1060 To pay imm~~diatc•ly upon dcrrr~nd .~11 surns c~xp~ndc•d t,y thc• Ass2gnc~~~ unde~r the authori ty he~rc~of, toyethfrr wi th interest therc~oR at fi ftc~en percc~nt (15"1 per annum. f3. IT IS MUTUALLY AGRF:ED 'ftlAT: 1. So lony as there sha11 ~xist no default by the Assignor in the paymc,~nt of any indebt.ednc~ss secured herc~by or in the p~~rformanc~• of any obliyation, covenant or aqre~ement herein or in said mortyaye or the Ayreement containt~d, the Assiynor sha11 be enti tled to and sha11 be ablc.~ to exercise aI1 ri yhts accrniny to i t as the resul t of the Ayreement. 2, Upon or at any tirrw~ after defaul t in the p.syment of any l ndebtedness secured hereby or in the ~rformance of any obligation, covenant or ayreement here- in or in said mortgaye or the Agreement contained, the Assiqnee rnay decZare a11 sums secured hereby irrrrnediately due and payable, and may, at its option, without notice, and without regard to the adequacy of security for the indebtedness hereby secured, either in person pr by ayent with or without brinying any action or proceeding, or by a receiver to be appointed by a court, make, cancel, enforce or modify the Agreement, and do any acts which the Assiynee deems proper to protect the security hereof. Any default by the Assiqnor in the performance of any obligation, covenant or ayreement herein contained and the acceleration of the indebtedness secured hereb~ sha11 constit~te and be deemed to be a default under the terms of said mortqage en- titliny the Assignee to every and a11 riyhts and remedies therein contained, includiny specifically the riyht to declare a default thereunder and to elect to se11 the pro- perty secured thereby, or fore.close said mortgaqe as provid~~d by 1aw. , 3. The Assiynee sha11 not be obligated to perform or discharge, nor does it hereby undertake to ~ierform or discharqe, any obligation duty or liability under the Agreement, or under or by reason of this assignment, and the Assignor sha11 and does hereby agree to indemnify and to .'~o1d the Assignee harmless of and from any and a11 liability, loss or darnage which it may or might incur vnder the A_qreement or under or by reason vf this assignment and of and from any and a11 claims and demands w11at- soever which may be asserted ayainst if by reason of any alleyed obligations or under- takiny on its part to perform or discharge any of the terms, covenants or agreements c~ntained in the Agreem~nt; shouZd the Assignee incure any such Iiability, loss or damaye under the Ayreement or under or b~ reason of this assiynment, or in the defense of any such claims vr demands, the amount thereof, includiny costs, expenses and 'k reasonable attorney's fees, sha11 be secured hereby, and the Assignor sha13 reimburse i the Assignee therefor imrr~ediately upon denand, and upon the failure of the A~signor ' so to do the Assignee may declare a1I sums secured hereby immediately due and p~ayable. I ~ 4. Upon the payment in fu11 of a11 indebtednc~ss secured hereby, this assign- ; ment shaZ1 becr~me and be void and of no effect, bvt the a ffidavit of any officer of the r Assignec showing that any part of said indebtedness remains unpaid sha11 be and constitute } ~ a~nclusive evidence of the vaZidity, effectiveness and continuiny force of this assign- ment, and any person may and is hereby authorized to rely thereon. ~ ~ ~ 5. This assignment applied to, inures to the ~nef.it of, and binds t12e G ~ parties h~reto, their successors and assigns. ~ , ~ ~ . ~ 6. AI1 notices, demands, or documents of any kind which the~ Assignee may be ~ required or may desire to serve upon the Assignor hereunder, may be served by deliveriny ~ the same to the Assignor personally or by leavinq a aopy of such notice, demand or ~ document addressn_d to the Assiynor at the followiny address: ~ 110LLYWOOU D~VL•'LO['~NENT COMPANY ~ „ c/o CoraZ Springs Real Estate C~ntr~r 9419 West Sample Road " ,j`~~ CGr~{~L Sf'lZ/~.'6rjH~+~; Florida 3~t ( ' ~ or by depositing a copy of such notice, demana, or document in the United States rnail, ~ postage prepaid, and addressed to the Assiynor at the Assiynor's said address. ~ t I1V WITR'F,SS WHEREOF, the Assignor has set i ts hand and seal the day, month and y~ar first aforesaid. - ' , HOGLYWOOD DLVELOPMF,I~T COMPANY, Assignor-. ~ . "z _ BY: 4 \ \ `'l. ~i /Ls~ . / ~ . ' : Pre ~•.i. "r-~i - QR . '•S~l'L 's Attcst: ` f' = " y ecz~e~zlry ~ _ ~ _ Jv ~ ~ - z - ~~'i :\~~1 ~G . ~ Tff/S /A~ST~ri~rv~?T . . ~ P~i~o~t6n ey o a ~ Ja,frv 6~. .~•..tit~ ~8N Ew GREENE AND LAYNE. PA , ATTORNErS AT ~.eW, 320 N. E. t8'~ STREET, MtAMI. F~OR~DA 33~32 ~ _ , , . . - - - - - _ _ , . . ~ - ~ ~ . - - - ~s~v,. _ . . ~ <<__ _ . . . _ _ . . a - - ~ - - ' .