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HomeMy WebLinkAbout0139 . I ~vhich said lea~x~ rents, is:suea unJ proftta arise out oi or i?ccrue frum all ur e parl of the following de~+cribad • property eituated in the City of.._--.-_-- Fort...Pierce.._ ~ County oi. ~t. ~cie . _ _ . _ _ State of_.. ._._Florida._ ta~vit : The East 417.35 feet of the South 300 feet of the North 680 feet of that part of the Northeast One-~juarter (1/4) of the Southwest Oae-Quarter (1/4) of Section 15, ~ownship 35 South, Range 40 East, lying Yest of the right-of-w~y of U.S. Highway No. 1; said land lying and being in the City of Fbrt Pierce~ St. Lycie County, Florida. TO HAVE AND TO HOLD said lea,ses, togethcr ~~ith the rents, issues, rights, income, prnSts, privileges and benefite ariaing under said leases or from the use of the above described pmperty~ unto the Asaignee~ its suc- c~sors and assigns, as additional and collateral security for the purpose of securing: (l ) payment of that certain note da+ed. evenly herewith , for the principal sum of bearing interest as therein prnvided~ secured by mortgage of even date therewith, covering property therein and hereinabove deecribed~ and which mortgage has been, or will be, filed for record in the office of the Recorder of Deeds in and for the County or City in which said property is located; (2) payment of all other sums, with interest thereon, becoming due and payable to the Assignee under the provisions of said note and mortgage and this :i.4signment; (3) performanc~ and discharge of each anci _ every obligation, covenant and agreement of Assignor contuine~ herein or in said note or mortgage. The Aseignor warrants and rept~esents to Assignee tl~at tl~e ~lssignor is thc sole oHner of the e~itire lessor'~ interest in said leases; that said leasea are valid and enforceable and have not becn altered, mociified or amended in any manner whatsoever save as herein set forth ; that the lessee named therein is not in default in the per- formance of any of the terms, covenants or conditions therEOf ; that no rent reserved in said lea.ses or for thc rental of any pnrt of properiy described in said raortgage, has been assigned or anticipatecl and that no rent for ~j any period subsequent to the date of this assigament has 1~een coilected in ad~•ance of the time H•hen the ~.1mc became due under the terms of said lea.ses or otherwisc. _ ~ The Assignor covenants ~sith the Assignee: to observe and perform all the obligatiuns imposed upon the leasor ~ under said lea.ses and not to do or permit to be done anything to impair the security thereof ; not to collect an~~ ' of the rent, income and profits arising or accruing under said leases or from the property described in said mort- i € gage in advance of the time when the same shall become due; not to eaecute any other assignment of lessor's interest in said lea.ges or assignment of rents arising or accruing fmm said leases or from the property described ~ in said mortgag~e; not to alter~ modify or change the terms of said leases or give any consent or exercise any ~ option required or permitted by such terms without the prior written consent of Assignee, or cancel or terminate ~ said lea.ses or accept a surrender thereof or convey or transfer or suffer or permit a conveyance or transfer of s the lea~ed premises or of any interest therein so as to e~ect directly or indirectly~ proximately or remotely a ~ merger of the estates and rights of, or a termination or diminution of the obligations of, lessee thereunder; not ~ to alter, modify or change the terms of any guaranty of said lea,4es or cancel or terminate such guaranty with- ~ out the prior written consent of the Assignee ; not to consent to any assignment of or subletting under said leases without the prior written consent oi the Assignee; at the Aasignee's request As4ignor will assign and transfer to ; the Assignee any and all 9ubsequent leases npon all or any part of the property described in said mortgage and ~ to exeeute and deliver at the request of the Assignee sll 9iich further as.~utances nnd u.4signments in the premises ~ a.4 the ~ssignee shall from time to time require. ~ = Thir essignment ig made upon the following terms, co~•ezianL.s and conditions : s ~ ? So long as there sl~all exist uo default by the Assignor in the payment of the principal sum, interest and < indebtedness secured hereby and by said note and mortgage or in the performance of any obligation, covenant or agreement herein or in said note and mortgage or in said leases contained on the part of the Asaignor to be performed, the Assignor shall ha~e the right to collect at the time of, but not prior to, tl~e date provided for the payment theteof, all rents, income and proRts arising nnder said leases or from the property described in said ~ mortgage and to retain, use and enjoy the same. Upon or at any time after default in the payment of an3~ principal sum, interest and indebtedness secured ; I~ereby and by said note and mortgage or in the performance of any obligation, covenant or agreement herein or in said note, mortgage or leases contained on the part of the As4ignor to be performed, the Assignee without ~ in any way waiving such default may at its option without notice and without tegard to the adeyuacy of the ~ security for the said principal sum, interest and indebtedness secured hereby and by said note and mortgage, either in person or by agent, with or without bringing any uction or proceeding, or by a receiver appointed b~• ~ a court, take poeses.gion of the properiy described in said leases and/or mortgage and have, hold, manage, lease. ~ rent and operate the same on such terms and for such period of time as the Assignee may deem proper and.either ~ with or without taking possession of said pmperty, Assignee may in its own name, demand, sue for or otherwise - collect and rECeive all rents, income and pmfits of said properiy, including thoee past due and nnpaid with full ' power to make from time to time all alterations~ renovations, repairs or replacements thereto or thereof as may ,eem proper to the Assignee and to apply such rents, income and pro8ts to the payment of :(a) all expenses of ; managing said propert}~, including, aithout being limited thereto, the salari~s, fees and wages of a managin~c ~ 3(~`+ c3V~ - r ~ . ~ - ~