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assignmente of Leasea which relate to the Property which are enCered into by
the Assignar with third parties after the date hereof.
6. Assignor representa and warrants to Assignee that:
a. It is the owner of all Leases hereln assigned and of the real
property which is the subjec~ matter of said Leases, free and clear of any
liens or encumbrgncee, with full right to convey its interest in the same, ~
sub~ect, ho~ever, to a ff~rst mortgage of even date herewith from Assignor to
Assignee.
b. Said Leases are in full force and effect, and Lessees therein
are not in default unSer 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 or permitted by said Leases without
the prior written consent of Assignee.
7. Upon repayment in full to Assignee by Assignor of the Note, and when
all obligations of Assignor to Assignee, however or whenever created, have
been ~atisfied and discharged in full, Assignee's security interest in the
Leaae or Leaseg 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 n~ 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
~ Aesignee under the terms of any of the other agreements. The right of indebt-
€ edness, and to enfarce any other security therefor held by Assignee may be
F exercised by Assignee either prior to, simultaneously with, or subsequent to
' any action taken by Assignee hereunder.
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F 9. This Agreement has been delivered in the State of Florida and shall
! be construed in accordance with ~he Laws of Florida. The Uniform Commercisl
~
~ Code shall govern the rights, duties, and remedies of the parties, and any
provisions herein declared invalid under any law shall not invalidate any
g other provision of this Agreement.
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F 10. This Agreement shall be binding upon and inure to the benefit of the ~
f parties hereto and their respective successors and assigns. '
R
~ IN WITNESS WHEREOF, Assignor has caused these presents to be executed the '
` day and year first above Written.
~ - .
} Signed, Sea2ed and Dellvered HARBOUR RIDGE, LTD., a Florida
~ in the Presen of: Limited Partnership
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€ By: HARBOUR RIDGE, INC., a Florida
~ ' corporation, as General Par~ner
~ ~ , ~ By : ~ ~ r-,
~ ek L~ St<.w/e'.~ v,•GC .tI%~crLT.~• .
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' (CORPORATE SEAL) . •
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