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CAROI. S. WAXLER ~ ESO. !'~:d l~de i_~.~-8t Iucie Connt~
Post Ott Ice Box t t 1 p~,c'i'~x S - Auk of Circuic Co~
Stuart ~ F lor lda 34995 inc'1':.r 3 ~Y
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CONnIT10NAL ASSIGf~AENT OF LEASES, RENTS AND PROFiTS
THIS AGREEMENT made thls 17th day ot January . 1990. by and batwaen
C.C. ARNOLD ENTERPRISES~ INC.~ a Florida corporatlon. hereln reterred to as
"Bor~ower". and FLORIDA NATIONAL BANK, a Natlonal banklnp associatlon. hereln
relerred to as "Lender".
WITNESSETH: s
For value ~ecelved and as additlonal securlty tor the loan harelnafter men- ;
tloned~ the Borrower sells. transters and asslgns unto the Lender. Ita suc-
cessors and assigns. al! the ~Ight, title and interest ot the Borrower In and to
the rants, issues. protits, revenues, royalties. rights and benetits trom the
following described real property located In St. Lucle County, Fiorlda:
PARCEL 1:
TRACT 595: THAT PORTION OF IOTS 3 AND 4. BLOCK 3. SECTION 26. TOWNSHIP 36
SOUTH, RANGE ,0 EAST. PLAT NLpdBER 1 OF ST. LUCIE GARDENS RECORDED IN PLAT BOOK 1 ,
j AT PAGE 35 OF THE PUBLIC RECORDS OF ST. LUCIE COUNTY, FLOR(DA. DESCRIBED AS ~
~ FOLLOWS: COlrtriENCE AT THE MORTHEAST CORNER OF SAID LOT 3; THENCE RUN NORTH 89
~ DEGREES. 42 b11NUTES, 28 SECONDS WEST. ALONG THE NORTH LINE OF SAID LOT 3. FOR A
! QISTANCE OF 165.00 FEET TO THE POINT OF BEGINNIN6 OF THE PARCEL OF LAND
HEREINAFTER TO BE DESCRIBED: THENCE CONTINUE NORTH 89 DEGREES, 42 I~IINUTES. 28
~ SECONDS WEST. ALONG THE NORTH LINE OF SAtD LOTS 3 AND 4, FOR A DISTANCE OF
~ 232.32 FEET TO A POINT~ SAID POINT BEING 350.00 FEET NORTHEASTERLY OF FLORIDA
~ STATE ROAD N0. 5(U.S. 1), AS A~IEASURED AT RIGHT AN6LES TO THE EASTERLY RIGHT OF
i WAY LINE OF SAID FLORIDA STATE ROAD N0. 5(U.S. 1); THENCE RUN SOUTH 27
DEGREES, 31 Ir11NUTES. 40 SECONDS EAST ALONG A PARALLEL TO SAID FLORIDA STATE ROAD
N0. 5(U.S. 1)~ FOR A DISTANCE OF 358.31 FEET TO A POfNT; THENCE RUN SOUTH 89
DEGREES, 42 MINUTES, 20 SECONDS EAST FOR A DISTANCE OF 66.50 FEET TO A POINT;
THENCE RUN NORTH 0 DEGREES. 2 I~AINUTES. 19 SECONDS EAST, ALONG A LINE PARALLEL TO
~ THE EAST LINE OF SAID LOT 3 FOR A DISTANCE OF 316.89 FEET TO THE POINT OF
~ BEGINNING. SUBJECT TO THE NORTH 45 FEET FOR ROAD, UTILITY AND DRAINA6E
~ PURPOSES.
~ PARCEL 2:
TRACT 597: THAT PORTION OF LOTS 4 AND 5 OF BLOCK 3. SECTION 26, TOWNSHIP 36
~ SOUTH, RANGE 40 EAST, PLAT NUbiBER 1 OF ST. LUCIE GARDENS RECORDED IN PLAT BOOK 1
~ AT PA6E 35 OF THE PUBLIC RECORDS OF ST. LUCIE COUNTY. FLORIDA. DESCRIBED AS
E
~ FOLLOWS: COI~AENCE AT THf POiNT OF INTERSECTION OF THE EASTERLY RIGHT OF WAY
~ LINE OF FIORIDA STATE ROAD N0. 5(U.S. 1) AND TNE NORTH LINE OF SAID LOT 5;
~ THENCE RUN SOUTH 27 DEGREES, 31 ~IINUTES, 40 SECONDS EAST~ ALONG THE EASTERLY
~ RIGHT OF WAY LINE OF FLORIDA STATE ROAD N0. 5(U.S. 1)~ FOR A DISTANCE OF 210.27
~ FEET TO THE POINT OF BEGINNING OF THE PARCEL OF LAND HEREINAFTER TO BE
DESCRIBED: THENCE CONTINUE SOUTH 27 DEGREES, 31 MINUTES. 40 SECONDS EAST ALON6
~ SAID EASTERLY RIGHT OF WAY LINE OF FLORIDA STATE ROAQ N0. 5(U.S. i)~ FOR A
~ DISTANCE OF 125.00 FEET TO A POINT; THENCE. AT RIGHT ANGLE TO THE AFORESAID
~ COURSE, RUN NORTH 62 DEGREES, 28 MINUTES, 20 SECONDS EAST FOR A DISTANCE OF
~ 350.00 FEET TO A POINT; THENCE RUN NORTH 27 DEGREES. 31 MINUTES, 40 SECONDS
WEST, ALON6 A LINE PARALLEL TO SAID FLORIDA STATE ROAD N0. 5(U.S. 1). FOR A
DISTANCE OF 125.00 FEET TO A POINT; THENCE, AT RIGHT ANGLE TO THE AFORESAID
COURSE. RUN SOUTH 62 DEGREES, 28 MINUTES. 20 SECUNDS WEST FOR A DISTANCE OF
350.00 FEET TO THE POINT OF BEGINNIN~. SUBJECT TO THAT PORTION LYING IMITHIN 45
FEET SOUTH OF THE NORTH LINE OF BLOCK 3 FOR ROAD, UTILITY AND DRAINAGE PURPOSES.
PARCEL 3:
TRACT 598: THAT PORTION OF LOTS 3 and 4 OF BLOCK 3, SECTION 26, TOWNSHIP 36
; SOUTH. RANGE 40 EAST, PLAT N0. 1 OF ST. LUCIE GARDENS RECORDED IN PLAT BOOK 1 AT
= PAGE 35 OF THE PUBLIC RECORDS OF ST. LUCIE COUNTY~ FLORIDA. DESCRIBED AS
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