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100681 COLLATERAL ASSIGNMENT OF
AGREEMENTS AFFECTING REAL ESTATE
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THIS ASSIGNMENT, made this day of , 19~~, ~
by WESTON-FLORIDA DE:VELOPMENT CORPORATIrJN-FT. PIERCE ~I,
(hereinafter referred to as "Borrower") and WE5TON-FLORIDA
DEVELOPMENT CORPORATION-FT. PIERCE ~II, and WESTON-FLORIDA
DEVELOPMENT CORPORATION-FT. PIERCE ~III (collectively hereinafter
referred to as the "Other W~ston Entities"), all Florida
corporations, to THE TORONTO-DOMINION BANK, a bank chartered under
the Bank Act oE Canada ("Bank").
BACKGROUND OF ASSIGNMENT
Bank.has agreed to advance up to U.S. $12,500,000.00 to
Borrower (the "Loan") pursuant to that certain Loan Agreement of
even date herewith between Borrower, the Other Weston Entities and
the Bank ("Loan Agreement"). The Lean is evidenced by a
promissory note of Bor_rower and the Other Weston Entities and
other collateral documents described in the Loan Agreement, all of
even date herewith, including a mortgage (the "Mortgage"~ from
BoYrower and the Other Weston Entities to Bank encumberin certain
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~ real property ("Property") situate and being in St. Lucie County,
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€ Florida, and more fully descrik~ed on Exhibit "A" attached hereto '
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and made a part hereof. The Loan Agreement, Note, Mortyage and
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~ other collateral documents described in or accompanying the Loan
~ Agreement are hereinafter sometimes collectively referred to as
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~ the "Loan Documents". Unless otherwise specified herein, terms
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~ are used herein with the same meanings as defined in the Loan
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~ Ag reement.
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~ As an additional condition to grantiny the Loan, the Bank has
required Borrower and the Other Weston Entities to execute and
~ ~deliver this Assignment.
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Prepared By and Returned To:
Richard D. Holt, Esq.
~ Gunster, Yoakley, Criser &
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~ Stewart, P. A.
~ First National Bank Building
~ Palm Beach, Florida 33480
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