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' ASSIGNMENT OF LEASE
_ THIS ASSIGNMENT, made and entered into this day of
July, A.D., 1978, by and between JAMES A. CARPINELLO and BARBARA M.
CARPINELLO, his wife, Assignors, and FIRST NATIONAL BANK OF FORT -
PIERCE, Fort Pierce, Florida, a Banking Corporation, Assignee.
W I T N E S S E T H:
FOR VALUE RECEIVED, Assignors do hereby assign unto Assignee
all of their right, title and interest in and to that certain Lease
dated May 10, 1979 between James A. Carpinello and Barbara M.
Carpinello, his wife, as Lessors, and the Eli Witt Company of Hills-
borough County,~Florida, as Lessee; which said Lease is for a term
of five (5) years beginning August 1, 1979 and ending July 31, 1984
wit-h monthly rental payments of $1,875.00 plus applicable Florida
sales tax. The first of such payments is due and payable on August 1,
1979 and on the first day of each and every month thereafter for the
term of said Lease.
This Assignment is made by Assignors herein to Assignee herein
as security for the payment of a Promissory Note and Mortgage dated r
June 9, 1975 from W. W. Arnold, joined by Eunice Ann Arnold, his wife,
to Assignee herein in the original principal sum of $175,000.00,
which said Promissory Note and Mortgage, Assignor herein has assumed
r and agreed to pay as part of the purchase price of the property des-
cribed therein which Assignors herein has purchased from said W. W.
Arnold this date. It is agreed by and between Assignors herein and
Assignee herein that the Lessee of said Lease, the ELI WITT COMPANY,
shall consent to the assignment of said Lease and agree to make the
monthly payments required to be made under the terms of said Lease
to the Assignee .herein to be applied to the reduction of the Promis-
sory Note and Mortgage hereinabove described from W. W. Arnold and
wife to Assignee herein, which said Promissory Note and Mortgage
is being assumed this date by Assignors herein.
Assignors herein covenants with Assignee that they will take
no action, passive or otherwise, that .would in any way cause a
termination of said Lease dated May 10, 1979; or that would cause ~
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