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Home My WebLink About2231 ~ . ~ . ~ ~ . ~ ~ ; t ~ ~ i • • . - ~ ~ , . k ~ ~ ' ~ - . . ~ ° - . . • . . - ' . _ j . ~ ~ ' , - ` .i c~ . ~ . ' , " - v~. ' _ - ,a,.:~_! . " J~i ~ . ' _ , • • • , . ~+i. 1~.. ~ . ~Si . _ . , ~1~) ..~~.,:J, ~ ~ 1 l . ~ : , . ~ . 2... . . ~-3~ %i ~ as therein more fully d~scribtd, such Short Form Lease being recorded in the rec~rds aE , St. Lucia Councy, Florida , Hoolc , pagc .~.~..,.o,' ~ and the undersigned he~by, authQrize(s). and direcc(s)-Phillips. to p.ay.sych rcntals.co the. ~ . Company, provided, hoaever if chs undersigned shall pay or c~use to be paid~ to the Comp~ny' ~ ~ ~ . thc principal amount of th~ promissory noce of the undersiRned~of cven date herewith, tngetker ~ ~ with ineerest thereon~ in accordance wicH the teEms and Eonditians there~~tE, for,th~e:se~uring of ~ ~ which this assignment is executed and delivered, and shull cQmply with all the terms and colidiuons of the• tdort~age likewise of even date herewith and likewise . ~ . ~ ' ' - . (insett document of mortgage) . ~ _ ; } executed and delivered co secure such note, then this assignment shall become ~ull sind void and ~ ~ of no further effect; but nothing in this pcoviso shall impose any obligation or duty upon Phittips , ~ to make any inquiry as to whether or not this assignment is ie? full force and effect and it shall ~ ~ be f~lly-protected in paying said rentals co che Company uncil direcced.otherwise by che Company, = and, until so direcc~d~ such payments shalt, so far as.Philiip$ is cancerned~ be cansidered ~ payments to the undersigned as Iessar, irrespective of a~hether or not said indebtedness has bee~ discharged. It is understood and agreed that nottiing in this assignment aill be, deemed or construed ~ to impose upon the ComQany any of the obligations, liabilitie~ or duties of the unde~signed as ~ f:, ~ ~-~~~tessor under such Lease Agreement.~ . The undersigned understand{s) chat the Company intends co sell, assign and transfer all of the right~ title snd interest in and to thc aforementianed rentals acquired by it putsuant to this ~ assignment and the undersigned consent(s) to such sale, asslgnment and tcansfer, including any sale, assignment or transE~r which may be made to DAIVKERS TRUST COMPANY and W. R. ' MESENSRINK, as trustees (Bankers Trust Company and W. R. Mesenbrink aeing hereinaEter ~ collectively reEerred to as the "trustees") under a Collateral Trust Indent~re, dated as of ~ : May 1, 1962, to which the Company is a pany. If any liens, encumbrances or~charges of any kind based on claims of any kind against the ~ ~ undersigned, including claims for income, franchise or other taxes based on income (whethe~ Fedtral, State or otherwise), are asserced or filed against the rentals sold~ assigned and trans- ferred ht~eby, or if any order (whecher or noc valid) of any coure shall be eneered with respect to - said rentals by virtue of any claims of any ktnd against the undersigned, in either case sa as to interferc with the due paymcnc of said rencals co che ccuscecs, or the due applicacion of said rentAl~ ~ . ~ by the trustees to tfie service of the Secured Notes issued by th'e Company and secured by the ; aforesaid Indenture or so as co subject the holders of said Secured Notes to any obligatioa to capa~y any amouncs received from che crustees, br if the crustees shall refuse to ~so apply ssid rentals ' btcause oE a threatene., or pending suit in any court as a result ot whiCh t~t truscees in gwu f; faith consider they may have personal liability if they do so apply them the occunence of ady = of ~rhich events the undersigned hereby agree(s) to prevent, and if Phillips or the tcustee (i) take ~ such action as may be necessary co prevent, or to nullify the cause of, such intecfe~en~e, such ~ obligation of the holders to sepayany amounts received itom the trustees or such possibility of ~ ~ personal liability of the trustees for applying rentals or if (ii) Phillips pays to the ttustees cash~ ~ in addicion to the assigned rentals~ in an amount equal to the amount of thc rentals th~ ps~ycaent ~ of which to the trustees or che application of wfiich by the trustees shall have been interfered . ` , with plus, to thc extent permitted by law, an amount sufficient to pay interest on overdue intertst ~ on the Secured Noces to che excent c6erein cequired in the evenc chat chere has been any delay in _ che installment payments to the Secured noces, or if, (iii) Phillips iademnifies the t~uscees ag~inst b"~ any personal liabitity which may arise from applying such rentals snd the holders of Secured Notes against any obligation to rcpayany amounts receivcd from the trustees~ Phillips and tcustees ot ~ tit~er of t~em beina hereby authorized to take such action ~s is concemplated by' clauses (i), (ii) and (iii) abovc, then the undersigned will promptly reimburse Phillips a the trustees or both~ • . ~ ~ . , s,o~. t~o+a.tir t y~. Qf?RX' V~ f!, E~~ ll ~ f ' ~ ' ~ • F ` • _ - - - . ~ ~ -