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This (nstrument Was Prepar~d t3y
THOMAS K. MORRISON
Of
Cason and Nenderson
Aitorntys at l~w
P. 0. Boa 2150 Tampa~ Florida 33601
5;~120'7
LOAN ASSIGNMENT
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KNOW THAT FORT PIERCE HOUSING DEVELOPMENT CORPORATI~N
(hereinafter called the "Issuer"), a Florida non-profit
Corporation having its office at c/o Ernon N. Sidaway, III,
Esq., P.O. Box 3388, Fort Pierce, Florida ~33450 acting as a
"public housing agency" and a duly designated "instrumentality"
of the Fort Pierce ~iousing Authority (her~inafter called the
"Authority"), said Authority acting by and through its board
of directors, in consideration of the making of a loan to
the Issuer in the amount of ONE MILLION EIGHT HUNDRED THIRTY
THOUSAND DOLLARS ($1,830,000.00) by FIRST HOUSING DEVELOPMENT
CORPORATION OF FLORIDA (hereinafter called the "Lender"),
having its office at 200 North Westshore Boulevard, Suite
220, ~~ampa, Florida 33609, pursuant to the terms of a certain
loan agreement (hereinafter called the "Issuer's Loan Agreement")
between the Issuer and the Lender of even date herewith,
hereby assigns unto the~ Lender that certain mortgage (hereinafter
called the "Mortgage") given by ORANGEWOOD VILLAGE, L~D., a
Florida limited partnership, (hereinafter called the "Owner"),
to the Issuer of even date herewith covering certain premises
known as the ORANGEj~100D APARTMENTS in the City of Fort
Pierce, Florida (hereinafter calZed the "Premises") with the
following legal description:
SEE ATTACHED SCHEDULE"A"
to secure an indebtedness in the principal amount of up to
ONE MILLION EIGHT HUNDRED THIRTY THOUSAND DOLLARS ($1,830,000.00),
which Mortgage is intended to be recorded immediately prior
to the recording of this Agreement;
TOGETHER WITH that certain promissory note of the Owner
to the Issuer, (hereinafter called the "Owner's Note") of
even date herewitri in the face amount of ONE MILLION EIGHT
HUNDRED THIRTY THOUSAND DOLLARS ($1,~tsU,t~GU.UU) more particuiariy
describ~d in the Mortgage, and the monies due and to become
due thereon with interest;
TOGEiHER WITH all of the Issuer's right, title and
interest in and to that certain loan agreement (hereinafter
called the "Loan Agreement") between the Owner and the
Issuer of even date herewith, providing for the construction
of certain buildings, structures and other improvements on
the Premises; ~
TOGETHER WITH all of the Issuer's right, title and
interest in and to that certain assignment of rents of even
date herewith given by the Owner to the Issuer as additional
and collateral security for the payment of the indebtedness
evidenced by the Owner's Note an secured by the Mortgage,
which Assignment of Rents is intended to be recorded im-
mediately prior to the recording of this Agreement;
TOGETHER WITH all of the Issuer's right, title and
interest in and to that certain~assignment and pledge of
housing assistance payments of even date herein given by the
Owner to the Issuer as additional and collateral security
for the payment of the indebtedness evidenced by the Owner's
Note and secured by the Mortcrage, which assignment and
pledge of housing assistancerpayments is intended to be
recorded immediately prior to the recor~ing of this Assignment;
TOGETHER WITH all of the Issuer's right, title ar.d
interest in and to any and all documents, assignments,
security agreements, financing statements or security of any
kind whatsoever given to Issuer, whether from the Owner or
any other party, as additional and collateral security for
payment of the indebtedness eviden~:ed by the Owner's Note
and secured by the Mortgage;
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