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ASSIGNMENT OF RENTS - j
I, ANNETTE PADRICK, of Fort Pierce, St. Luce County,
Florida, executed and delivered on the 1st day of September,
1980, a consumer loan note security agreement in the principal
amount of $35,000.00 payable in 36 monthly installments as
therein provided, to Southeast First National Bank of Fort Pierce,
300 South Sixth Street, Fort Pierce, Florida, herein referred
to as-"Assignee", and I, as subsequent owner and lessor, took
subject to a certain lease agreement dated May 21, 1969, by and
between William R. Dannahower and Wayne Sines, Jr. and the
Housing Authority of the City of Fort Pierce. The said William +
R._Dannahower, being my predecessor in title, conveyed title '
toi'the following described real property, subject to the afore-
said lease agreement, to-wit:
Lots 7, 14, 15 and 16, Block 1, and Lots 1,
2, 3, 4, 5 and 6, Block 2, Pingr Subdivision,
according to the Plat thereof, as recorded
in Plat Book '15, Page 3, of the Public Records
of St. Lucie County, Florida,
-AND- ~
Lot 7, Block A, Ben Hogg's Addition, as per
plat thereof, as recorded in Plat Book 1,
Page 1, of the Public Records of St. Lucie
County, Florida;
~k which lease provides for the payment of rent by the lessee, and
I desire to assign to Assignee the rent prescribed by the lease
E
as additional security for the monthly installments required by
the note above mentioned.
For and in consideration of the sum of $35,000.00 and other
valuable considerations hereby acknowledged to have been received,.
I assign to Assignee all rent payable under the terms and pro- .
visions of the lease to the extent necessary to meet the payment
of the 36 monthly installments as they come due; provided however,
that any rent left after paying the installment shall be paid
to me.
This Assi went in no way relieves me from making payments
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X338 PEE 751
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