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herein mentioned, or default in the payment of any other sun?s secured
by said nwrtgaqe, and until such demand is made the party of the
first part is authorized to collect, or continue collecting sqch ~
rents, issues, profits, revenues, royalties, rights and benefits.
The term of this assignment shall be until the certafn notes
and mortgage (or any extention or renewal thereof) dated Auqust 20,
1975, made, executed and delivered by party of the first part to
~FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE, Florida,
covering the above described premises for the sum of $1,250,000.00
shall have been fully paid and satisfied, or until the expfration of
the period of redemption, if ~ny, at which times this assiqnment is
to be fully satisfied, cancelled and released, and the releasing of
said mortqage shall constitute•a release hereof.
This assignment is given as additional security for the per-
formance of-each and all of the obligations and covenants of the
notes and mortqage above described (or any extenstion or renewal
thereof), and tlle amounts collected hereunder, less the expenses of -
collection, if any, shall be applied on account of taxes- and assess-
ments on said real estate, insurance premiwns and delinquencies of
principal and interest thereunder.
It is expressly covenanted and agreed by the undersiqned party
of the first part, assignor, that at the time of the execution and
delivery of this assignment there has been no anticipation or pre-
payment of any rents by any of the tenants occupying the above ~
described property or by any of the lessees in any of the above ' ~
described leases. ~
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It is further covenanted and agreed that the party of the
first part, assignor, and its successors or assigns, shall have no
right, pawer, or authority to alter, modify or amend the tern~s,
or any of them, of any of the leases above described in any particular
whatsoever without first obtaining the consent in writing of the
Association to such alteration, modification or amendment.
Nothing herein contained shall be construed as making the
Association a mortgagee in possession, nor shall said Association, or
. its assigns, be liable for laches, or failure to collect said rents,
issues, profits, revenues, royalties, rights and benefits, and it is
~ understood that said Association is to account only for such sums as
j are actually collected. _
~ IT IS UNDERSTOOD AND AGREED that neither the existence of
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~ this assignment nor the exercise of its privilege to collect said
rents, issues, profits, revenues, royalties, rights and benefits
€ hereunder, shall be construed as a waiver by the Association, or its
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successors and assigns, of the right to enforce payment of the ,
~ debt hereinabove mentioned in strict accordance with the terms and
provisions of this mortgage and notes for which this assignment is
given as additional security.
IN WITNESS WHEREOF, the party of the first part has caused
this Assignment to be executed in its corporate name by its President
thereunto duly authorized, and its corporate seal to be hereunto. ~
~ affixed on this, the day and year f irst above mentioned.
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i Wit sses : EDEN PARK MANAGEMENT, INC`,~~~~'~ ~ . ~ • - . .
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~ ~ BY ' ~c'I ~i-.
~ Its President _ - =
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FEE, PARKER & FEE, P. A.
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ATTORNEYS AT LAW
POST OFFICE BOX f 000 ~
FORT PIERCE. FLORIDA S3dO0 $0 ~ 2Q/ yv,r~~ e
Tc~vrtoH[: (sOb) 46l-bOYO
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