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AS S I GNMENT ~~QJ
Th~s agreement mad~ this 31st day of July, 1974, by
and bets~-een QUTDQQR RE~ORTS OF AMERICA, INC., hereinafter called
"Borrower", and 14IE FIRST Nc~?I'IONAL CITY aANK OF NEW YORK, New
York, hereinafter called the "Lender";
WITNESS: .
1.
The Borrower is indebted tn the Lender for the remaining
principal balance and accrued interesC on a certain promissory
note dated June 27, 1973, in the original principal amount of
SIX MILLION AND P10/100 DOLLARS ($6,000,000.00).
2.
The Lender contemplates advancing additional sums to
the Borrower and further contemplates releasing certain portions
of its security for said loan.
3.
_ In consideration ef the above, the Borrower hereby and
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by these presents does assign to the Lender all of its right, title
and interest in a certain lease agreement entered into and made on
April 1, 1971, by and bet-.:cGn tne Borrower and Outdoor Resorts at
Netfi3.es Island, Inc., said lease agreement being recorded in O.R.
Book 192, Pages 193-820, Circuit Court Clerk's Office, St. Lucie
County, Florida.
4.
Borrower further assigns to Lender all of its right,
title and interest in a limited partnership, to-wit: Resorts,
Ltd., which limited partnership was made and entered into in
Nashville, Tennessee on the First day of August, 1971.
Borrower further assigns to Lender its right to receive rents
relating to the Borrower's rental of the "pool and cabana area"
to Resorts, Ltd.; as
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