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~~SIGNMENT OF LEASE AND OPTION FOR SECUR~~
For a good and valuable consideration, the receipt
whereof is hereby acknowledged, the undersigned, INDIAN RIVER
NOMEBUILDERS, INC., a Florida corporation hereby grants,
assigns, transfers and sets over unto BARNETT BANK OF ST. LUCIE
COUNTY, all right, title and interest of the undersigned in and
to any and all leases by and between the undersigned and
FORTUNE PROPERTIES OF ST. LUCIE COUNTY, INC., a Florida
corporation including, without limitation, that lease evidenced
by that certain memorandum of lease dated October 3, 1989 and
recorded in Official Records Book 661, Page 1448, Public
Records of St. Lucie County, Florida covering the
following-described property and/or now or hereafter affecting
any personal property of the undersigned located thereon,
to-wit.
See Exhibit A attached hereto and made a part
hereof
And the undersigned does hereby further grant, assign,
transfer and set over unto said eank all rights, entitlements,
issues and profits provided under the terms of said leases,
together with any option to purchase said property, whether
contained in said leases or set out in a separate agreement,
including, without limitation that certain option to purchase
~ dated October 3, 1989 and recorded in Official Records Book
661, Page 1448, Public Records of St. Lucie County, Florida,
hereby granting unto said Bank full power, but not obligating
it, to enforce any of the conditions, covenants or agreements
contained in said leases, to collect any and all issues and
profits thereunder and/or contained in any said option, and to
give good and valid receipts therefor, and hereby granting unto
said Bank full power to do anything that the undersigned could
! have done had these presents not been made. The undersigned
agrees to give such further assignments of leases hereafter
~f existing and rights, entitlements, issues and profits provided
! for under the terms of such leases, as the Bank may require.
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; The undersigned does hereby covenant to and with said
; Bank that the undersigned has not transferred in any manner any
` of said leases nor the rights, entitlements, issues and profits
provided for herein, and that the undersigned is the lessee
thereof and has full right to collect and is entitled to the
,
~ rights of lessee in said leases and/or said options. The
i undersigned does hereby further covenant to and with said Bank
~ not to pledge or deliver or assign any of the rents, royalties,
~ issues and profits provided for in said leases andlor said
E options during the eaistence of the indebtedness and
~ obligations hereinaf~er referred to, and any renewals or
~ extensions thereof. The undersigned does hereby covenant not
~ to consent to or enter into any alteration, arnendment,
cancellation, renewal or eatension of said leases and/or option
~ agreement, and agrees that the undersigned shall not have the
~ power to do so without first having obtained written consent of
~ said Bank.
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It is further understood and agreed that said Bank does
not, by the execution of this Assignment or by its acceptance
thereof, assume any liability or become liable in any manner
whatsoever for the performance of any of the terms and
conditions in said leases and/or said optioc~s, unless and until
the Bank shall definitely assume any such obligations in
; . writing.
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B~GI( PA~E299~
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