HomeMy WebLinkAbout0963 Leases ~ssigned her~in shall be deemed a aefault under the
terms of the Loan Documents. Ar.y expenditurea made by Assignee ~
, in curing such a default on Assignor's behnlf,. with interest
~hereon at the rate payable upon default under ~he Note, shall
become part of the debt secured by this Assignment~
! 11. Assignee shall not be deemed to be ~n agent, partner
or joint venturer of either Assignor or any other person, and ~
' nothing herein contained ehall be construed to impose any
. liability upon Assignee by reason of the assignment granted
hereby. -
12. When the content so requires, the use of the
s~ngular herefn shall include the plural and conversely, and
the use of any gender herein shall include all gendere.
13. This Assignment shall be governed by and construed _
in accordance with the laws of the State of Florida. Whenever
possible, each provisfon of this Assignment shall be
interpreted in such manner as to be ef~ective and valid under
applicable law= but if any provision of this Assignment shall
be prohibited by or be invalid under applicable law, such
provision shall be inef~ective to the extent of such
prohibition or invalidity, without invalidating the remainder
of such provisions or the remaining provisions of this
Assig~ment. -
14. This Assignment cannot be modified or terminated
orally. ~ - ~
15. Notices required hereunder shall be by registered or
certified mail or hand delivered, addressed as follows:
To Borrower:
Fredrick M. Wessel
. 2421 North Federal Highway -
Fort Pierce, Florida
; _
To Lender:
8arnett Bank of St. Lucie County
900 East Prima Vista eoulevard ~
Port St. Lucie, Florida
With a copy to: ~
Warner, ~ox, Seeley & Dungey, Attorneys, P.A.
Post Office Drawer 6
Stuart, Florida 34995 '
or to such other address spec3fied in writing by one party to
the other in accordance herewith.
16. Unless otherwise defined herein, terms are used
. herein with the same meanings as defined in the Note. In the
event of any conflict between the terms hereof and the Note,
the terms and conditions of the Note shall control.
; 17. The full performance of all the Loa~ Documents and
the duly recorded satisfaction or release of the Property
described in the Mortgage sh~ll re~der this Assignment
automatically void with respect to the Property or portion
thereof described in any such satisfaction or release.
18. The net proceeds collected by Assignee, aftier
reimbursement of expenses incurred by A$signee under the terms
of this instrument, shall tie applfed in reduction of the entire
indebtedness from time to time outstanding and secured.by the
Mortgage.
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