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COI~IDITIONAL ASSIGNMENT OF RBNTS AND LBASES
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- THIS COI~IDITIONAL ASSIGNI~NT, made this ~,0~ day of Nov~- ,
ber, 1974, by RYBRSON ~ HAYNBS RBALTY, INC., a
Delaware corpora- :
tion, as Assignor, which term as used herein in ~very instance ~
sball iaclude the Assignor'a heirs, euecutore, administrators,
. successors, legal representativee and assigna, including all.sub-
sequent grantees. either voluntary by act of the parties or invol-
- untary by operation of law, an~d shall denote the.singular and/or ~
plural, and the masculine and/or fea?inine, and natural and/or arti-
ficial persons, whenever and ~?erever the context so requires or
adntits, to the SOUTHBAST FIRST NATIONAL BANK OF ZIIAtII, a national
. banking association, l~iami, Florida, as Assignee.
WITNESSETH: .
FOR VALIIABLE CONSIDSRATIONS received simultaneously herevith
and to assure~the payment of all sums due aad to become due on
the note in the sum of FOUR HI~.I.ION ZtiiO ~JNDRBD ~0113AAID AND ti0/100
DOLLARS ($4,200,000.00), dated November ~0 , 1974, made by Assigaor
to Assignee, and aecured by a mortgage on the fee sim~le title
to property in St. Iucie County, Florida, dated Navember
1974, by Assignor to Assignee, said property being described as
follows: -
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(See Exhibit "A" attached hereto and incorporated
hereia by reference.) . ~
the Assignor does hereby grant, transfer a~ud assign unto the Assigaee
its entire~interest, said Assignor varranting that it owns said
~ entire_interest,-in and to a12 rents, income and profits due a~d
E to become due, and including all leases and subleases hereinafte~.
~ entered into and the sums to become due therefroa, this assignment
i becomin.g effective as to future leases aad subleases affecting
~ said premises automatically upon execution and delinery thereof.
Neither the acceptance of this assignment nor the collection
of rents or paqments under the leases or subleases hereby assigned
shall constitute a waiver of any rights of the Assignee under t6e ~
terms of said note and mortgage. And it is expressly un~derstood
and agreed by the parties hereto that-before default occura under
the terms of said aote and mortg~age and this asaignment, the Assignor
shall hane the right to collect said ~ents, inco~e and profits
from the aforementioned leases and subleases and to retain, use
and enjoy the same, provided, however, that even before default'
occurs, no rent under any of said leases or subleases shell be
collected or accepted more than t~o month in advance of the accrual
thereof without the specific written conaent of the Assignee.
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~ The Assignor, in the event of default in the performance of
~ any of the terms and conditions of said note and mortgage or of
this assignment, hereby authorizes the Assigaee, at ita option,
to enter and. take possession of the nortgaged premises an~d to manage
and operate sam~, to collect all or any rents accruing therefrom
and from said leases and aub2eases, to let or re-let portions of
said premi.ses, terminate or modify any defaulted lease or sublease,
evict tenants or occupants, briag or defend any suits in connection
with the possession of said premises in its mra name or Assignor's
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