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changed from the terms in the copies of such leases, guaran-
ties and surety agreements submitted to Assignee for ap-
proval; that no other assignment of any interest therein has
been. made, except as set forth herein; that there are no
existing defaults under the provisions thereof, and that
Assignor will not hereafter cancel, surrender or terminate
any of such leases, guaranties and surety agreements,
exercise any option which might lead to such termination, or
change, alter or modify them, or consent to the release of
any party liable thereunder or to the assignment of the
lessees' interest under such leases or guaranties or surety
agreements without the prior written consent of Assignee.
Assignor hereby authorizes Assignee to give notice
in writing of this assignment at any time to any tenant under
any of such leases and to any guarantor of such leases.
Violation of any of the covenants, representations
and provisions contained herein by Assignor shall be deemed
a default under the terms of the Note_and Mortgage.
Default by Assignor under any of the terms of the
leases assigned herein shall be deemed a default under the
terms of the Note and Mortgage. Any expenditures made by
Assignee in .curing such a default on Assignor's behalf, with
• ~ interest thereon at the rate payable upon default under the
Note, together with late charges, shall become part of the
debt secured by this Assignment.
The full performance of the Mortgage and the duly
recorded satisfaction or release of the Mortgage shall render
this assignment automatically void.
The net proceeds collected by Assignee, after
reimbursement of expenses incurred by Assignee, under the
I terms of this instrument shall be applied in reduction of the
~ entire indebtedness from time to time outstanding and secured.
by the. Mortgage and shall be applied to principal, interest,
costs, expenses and/or attorneys' fees, as Assignee, at its
.option, may elect.
This assignment applies to and binds the parties
hereto and theiX respective heirs, administrators, executors,
successors and assigns, as well as any subsequent owner of '
the Property described herein and any assignee of the Mortgagee
referred to herein.
IN WITNESS EREOF, Assignor has duly executed
this assignment the i~day of March, 1980.
Signed, sealed RADNOR/OCEANA SOUTB PARTNERSHIP,
and delivered in the a Florida General Partnership
presence as By: Radnor/Oceans South
witnesses of: Corporation, a Delaware
Corporation, Partner
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Attest:
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Suet f' Y ' i
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