HomeMy WebLinkAbout0930 (c) Said Leases are valid and enforceable and have not been altered,
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modified or amended in any man~er whatsoever.
(d) ASSIGNOR has not, and will not, execute any ofher assignment of
its interest in said Leases and the income, rents and profits therefrom, and has not,
md will not; hypothecate, mortgage or otherwise encumber said interest.
(e) ASSIGNOR will not modify the terms of said Leases or give any
consent or ex~rci9e my optian required or permitted by said Leases without ihe
prior written consent of ASSIGNEE.
(f) tn the event of sale by ASSIGNOR of my of the Leases and/or
Property to any third party or to the Lessees thereunder, the proceeds from said
sale shall be paid to ASSIGI~E to be applied against ASSIGNOR's debt.
7. Upon repaiyment in full to ASSIGNEE by ASSIGNOR of the NOTES,
and when all obligations of ASSIGNOR to ASSIGNEE, however or whenever created,
have been satisfied and discharged in fufl, ASSIGNEE'S security interest in the
Lease ar Leases on the Property shall be ~ull and void and shall be reassigned to F
ASSIGNOR, without recourse; otherwise, this Assignment of Leases, Rents and
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Profits shall be and remain in full force and effect. ;
8. Nothing contained in this Assignment and no oct done or omitted by {
ASSIGNEE pursuant to the power and rights granted ASSIGNEE hereunder shall be ~
deemed to be a waiver by ASSIGI~E of its rights and remedies under the NOTES ~ '
secured thereby, ar any other agreement, and this Assignment is made and
~ accepted without prejudice to my of the rights and remedies possessed by
ASSIGNEE under the terms of any of the other agreements. The right of
ASSIGNEE to callect such principal sum, interest and indebtedness, md to enforce
any other security therefor held by ASSIGNEE may be exercised by ASSIGNEE
~ either prior to, simultaneously with, or subsequent to my action taken by
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; ASSIGNEE hereunder.
' 9. This Agreement has been delivered in the State of Florida and shall
~ be construed in accordanoe with the Laws of Florida. The Uniform Cornmercial
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~ Code shall govem the rights, duties and remedies of the parties, and any provisions
~ herein declared invalid under any (aw shall not invalidate any other provision of this
- Agreement.
~ , 10. This Agreement shall be binding upon and inure to the benefit of the
~ parties hereto and their respective successors and assigns.
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~ IN WITNESS WHEREOF, ASSIGNOR has caused these presents to be r;...
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w executed the day mid year first above written. o~~' r"
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Witnessed b• INDIAN RIVER TERMINAL COMPA[~11f =
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- (CORPORATE SEAL)
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FRIEDMAN 8c BRITTON
9t.. ~LGOR. SGUTMEAST FIRST NATIONAL BANK BLDG. ~ ~ ~vo ~~GE ~/y~
_ 800K
M~AMI. FLOR~DA 33131
371-5192
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