HomeMy WebLinkAbout2756 . a
~
~ y~ ' s
~
. 451994
This~instrument was prepared by:
OSMOND C. HOWE, JR., Esquire
1600 S.E. First National Bank Bldg.
~ Miami, Florida
;
FIRST ASSIGNMENT OF LEASES ~
t
~ :
THIS ASSIGNMENT OF LEASES made the ~0 day of July, ~
1979, between CENTER WEST ASSOCIATES, a Florida general
partnership, having an office c/o Headway Florida, Inc., 8751
West Broward Boulevard, Suite 303, Plantation, Florida 3'3324, ;
(hereinafter referred to as "Bo~rower"), and THE ROYAL BANK OF ~
CANADA, a Canadian chartered banking having an agency at 68
William Street, New York, New York 10005, (hereinafter referred
to as "Lender"); ~
~
W I T N E S S E T H:
WHEREAS, Borrower is the present owner and holder of
the landlord's.interest under all le~ses now or hereaftec
existing (nereinafter collectively referred to as the ~
"Leases"), which Leases demise various portions of the ~
improvements erected on certain premises located in St. Lucie =
County, Florida, as more particularly described in Exhibit A ;
attached hereto (hereinafter referred to as the "Premises"); ~
;
;
WHEREAS, Lender has made a loan to Borrower in the ;
principal sum of $800,OQ0.00 (hereinaf ter referred to as the ~
"Loan"), which Loan, together with interest thereon, is i
evidenced by and payable in accorda nce with the provisions of a
certain note dated the date hereof in the principal sum of
$800,000.00 made by Borrower to the or-der of Lender
(hereinafter referred to as the "Note") and is secured by a
certain mortgage dated the date hereof in the principal sum of ;
$800,000.00 given by Borrower to Lender covering the fee estate i
i of the Borrawer in the Premises and intended to be duly
recorded in the of fice of the Clerk of the Circuit Court of St.
! Lucie County, Florida (hereinafter referred to as the
~ "Mortgage"); and .
~ WHEREAS, Lender was willing to make the Loan to
Borrower only if Borrower assigned the Leases to Lender in the
manner hereinafter provided as additional security for the
payment of the indebtedness evidenced by the Note and secured
by the Mortgage (hereinafter.referred to as the "Debt") and the
observance and performance by Borrower of all of the terms, ~
covenants and provisions of the Note, the Mortgage and this ~ ;
Assignment on Borrower's part to be observed and performed; ~
~
NO4~i, THEREFORE, in consideration of the making of the
Loan and other good and valuable consideration, the receipt of
which is hereby acknowledged, Borrower hereby assigned to
Gender, as security for the payment of the Debt and the -
observance and performance by eorrower of all of the terms, l-- $
covenants and provisions of the•Note, the Mortgage and this ~
~ Assignment on Borrower's part to be observed or performed, all ~
~ of Borrower's right, title and interest in and to the Leases ~
~ and all of the rents, additional rents, charges, issues and ~
. profits payable under the Leases from the date hereot to the
end of the respective terms of the Leases and any renewals and
extensions thereof (hereinafter collectively referred to as the
$ "Rents"), and Borrawer hereby represents and warrants to and
covenants and agrees with Lender as follows: -
_ at~K312 ~ccf2`752