Loading...
HomeMy WebLinkAbout1956~~ S~_(1n04 Zh is instrument prepared by: Robert M. Lewis, fig. Lewis, Vegosen, & Rosenbach, P. A. P. O. Box 2437 Palm Beach, Florida 33480 RECORD AND RETURN TO! IRVING SHIMOFF~ ESQ. 6ROAD AND CASSEL 1108 KANE CONCOURSE BAY HAR60R ISLANDS, FlA 331 ASSIC~fl~Nr OF RErflS - OONDITIONAL KNCW AIL MEN BY THESE PRESF~TI'S, that whereas, GEI!IERP-L DEVEIr OPMENT COE2PORATION, a Delaware corporation (hereinafter called the "undersigned"), whose principal address is 1111South Bayshore Drive, Miami, Florida has executed a mortgage, to secure debt (hereinafter called the "mortgage"), which mortgage is dated ~OE'C,E R S O and recorded under Clerks File Number ~' / p n p ~. is records of St. Lucie O~unty, Florida, to AM©tICAN SAVINGS AND IfJAN ASSOCIATION OF FLORIDA, a Florida corporation, whose principal address is 1655 Washington Avenue, Miami Beach, Florida 33139 conveying the real estate legally described as: SEE EXHIBIT A ATTACHED EIER>;'!b AMID BY REFEI2F~1C'E MADE A PART E>ERDOF. and given too secure a note of the urxiersigned in the principal sun of FIVE MILLION ONE HUNDRED SEVFNl'Y FIVE THOUSAND AND NO/100 DOLi,AR.S ($5,175, 000.00) , and AMERICAN SAVIl~IGS AND Ll)AN AS.9OCIATION OF FLORIDA (hereinafter called the "mortgagee") is a legal owner and holder of the note and said mortgage; and WHEREAS, the undersigned is desirous of further securing the mortgage and the indebtedness now due and bo became due to the mortga- gee secured by the mortgage or otherwise. NCXnI, THEREFORE, the undersigned for and in consideration of these presents and the mutual agreements herein contained and as fug ther and additional security to the mortgagee, and in consideration of the sum of ONE DOLLAR ($1.00) to the undersigned in hand paid, the re- ceipt whereof is hereby ackrowledged, does hereby sell, assign and transfer unto the mortgagee all the rents, issues and profits no+w dine and which may hereafter become due under or by virtue of any lease, whether written or verbal, or any letting of, or any agreement for the use or occupancy of the premises above described or any part thereof, which may have been heretofore or. may be hereafter made or agreed bo or which may be made or agreed to by the mortgagee under the powers herein granted, it being the intention hereby to establish an absolute transfer and assignment of all the said leases and agreements, and all the avails thereof, to the mortgagee, and the undersigned does hereby appoint irrevxably the mortgagee its true and lawful attorney in its name and stead (with or without taking possession of the aforesaid premises), to rent, lease or let all or any portion of said premises to any party or parties at such rental and upon such term, in its dis- cretion as it may determine, and to collect all of said avails, rents, issues and profits arising from or accruing at any time hereafter, and all now dine, or that may hereafter became due under each and all of the leases and agreements, written or verbal, or other tenancy exist- ing or which may hereafter exist on said premises, with the same rights and powers and subject to the same impunities, exoneration or liability and rights of recourse and indemnity as the mortgagee would have upon taking possession of the said premises pursuant to the pro- visions hereinafter set forth. The undersigned represents and agrees that ro rent has been or will be paid by any person in possession of any portion of the above described premises for more than one installment in advance and that the payment of none of the rents to accrue for any portion of said premises has been or will be waived, released, reduced, or dis- counted, or otherwise discharged or compromised by the undersigned. The undersigned waives any right of set off against any person in pos- _1_ a~3~~ ~~Fi~s '~ LEWIS, VEGOSEN AND ROSENBACH, P.A., ATTORNEYS AT LAW 3 _._