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ASSIGNMENT OF MORTGAGE
KhOW ALL MEN BY THESE PRESENTS, that CALLAWAY LAND AND CATTLE
COMPANY, a Florida corporation (the "assi.gr,cr"), in considei~i.ion
of Ten and no/100 ($10.00) Dollars, and of other good and valuable
consideration paid to it by HOME SAVINGS AS50CIATInN nF Fr_.~RIL~.n_;
a Florida corporation (the "assignee"), hereby assigns to the Assignee
a certain mortgage made,~ executed and delivered by RONALD C.
KUTSCHINSKI to CALLAWAY LAND AND CATTLE CO., and given to secure
the payment of the sum of $1,417,500.00 and interest.~ Said rnortgage
dated December 15, ~1981, filed and recorded December 18 ,
19 81 in Official Records.Book ~b$~ at page of the
public records of St. Lucie County, Florida, and encumbering the ~
land described on Schedule A, appended hereto and by this reference
incorporated herein, together with the note or obligation described
in said mortgage and the monies due and to become due thereon with
interest from the 15th day of Dec~nbes , 19 81 ,
TO HAVE AND TO HOLD the same unto the Assignee and to the .
successors and assigns of the Assignee forever.
It is expressly agreed, however, as follows:
l. That this assignment is given as collateral security for
the payment of a certain note and mortgage executed and delivered by
the Assignor to the Assignee to secure the payment of the original
principal ~um of $1,200,000.00 and interest due Assignee pursuant
to a promissory note dated December 5, 1980.
2. That upon receipt of payment of the principal indebtedness
and interest of the note and mortgage hereby assigned, the Assignee
shall be entitled to satisfy and discharge such note and mortgage
without the Assignor joining.in such.
! 3. ~That any payment of principal and/or interest received by
the Assignee on the note and mortgage assigned by the Assignor shall
. be credited upon the principal and interest due by the Assignor's
note and mortgage in the original principal sum of $1,200,000.00
; for which this assignment is made as collateral security.
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j 4. That tha note and mortgage assigned hereby shall be
~ assigned to the Assignor by the Assignee when the promissory
~ note dated December 5, 1980, in the original principal sum of
! $1,200,000.00 is fully paid and discharged.
~ IN WITNESS WHEREOF, the Assignor has caused these-prese.nts
to be executed in its name, and its corporate seal to be hereunto
affixed, by its prop~r officer thereunto duly authorized, this .
~ day of December, 1981.
CALLAWAY LAND AND CATTLE CO., a
Florida _~n~jporation
Witnesses: / /
~ . ~ gy ~ d/~- L",- l
~ • ~n W. Holcomb, Its Presid~lt'~."''~-
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STATE OF FLORIDA ~
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` ,~?~i ~ ~j; :~,~he foregoing instrument was acknowledged be~ore mt~ ~~fa~~-.~ ! g
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c~y_ C`ii December, 1981, by JOHN W. HOLCOMB, President of Cal~l~?~ay :
~ 0 ti,_ and Cattle Co. , a Florida corporation, on behalf of the
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a Notary Publ c, S ate of Fla. at Large
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