HomeMy WebLinkAbout0986 23253139 :
d. Assignor will, on request of Assignee, execute and deliver to '
Assignee, in recordable form, separate asaignments for each Lease presently ;
exieting and will execute and deliver to Assignee, in recordable form, ;
asaignmenta of Leases which relate to the Property which are entered into by
the Assignor with third parties after the date hereof.
6. Assignor represents and warrants to Assignee that:
a. It ls the owner of a21 Leases herein assigned and of the real
property which is the sub3ect ~natter of said Leaxes, free and clear of any
liens or encumbrances. with full right to convey its interest in the same,
sub~ect, however, to a first mortgage of even date herewith from Aseignor to
Assignee.
b. Said Leases are in full force and effect, and Lessees therein
are not in default under same.
c. Said Leases are valid and enforceable and have not been altered,
modified or amended in any manner whatsoever.
d. Assignor has not, and will not, execute any other assignment of
its interest in said Leases and the income, rents and profits therefrom, and
has not, and will not, hypothecate, mortgage or otherwise encumber said
interest.
e. Assignor will not modify the terms of said Leases or give any
consent or exercise any option required ar permitted by said Leases without
the prior written consent af Assignee.
7. Upon repayment in full to Assignee by Assignor of tne Note, and when
all obligations of Assignor to Assignee, however or whenever created, have
been satisfied and discharged in fu11, Assignee's security interest in the
Lease or Leases on the Property shall be null and void and shall be reassigned
to Assignor, without recourse; otherwise, this Assignment of Leases, Rents and
Profits shall be and remain in full force and effect.
8. Nothing contained in this Assignment and no act done or omitted by
Assignee pursuant to the power and rights granted Assignee hereunder shall be
deemed to be a waiver by Assignee of its rights and remedies under the Note
secured hereby or by any other agreement, and this Assignment is made and
accepted without pre~udice to any of the rights and remedies possessed by
Assignee under the terms of any of the other agreements. The right of indebt-
edness, and to enforce any other security therefor held by Assi~nee may be
exercised by Assignee either prior to, simultaneously with, or subsequent to
any action taken by Assignee hereunder.
4. This Agreement has been delivered in the State of Florida and shall
be construed in accordance with the Laws of Florida. The Uniform Commercial
Code shall guvern the rights, duties, and remedies of the parties, and any
provisions herein declared invalid under any law shall not invalidate any
other provision of this Agreement.
10. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and asslgns.
IN WITNESS WHEREO~', Assignor has caused these presents to be executed the ;
day and year first above written.
Sig d, ealed, vered ~ WWH CORPORATION, a Florida
i the res e of: ~ corporation
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By; G~j~~' ~ ~ ~
Warren M. Heim, Jr., President ~
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(CORPORATE SEAL) : ;••t _ `
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BK0526 P~GE0980
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