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3-3 ~ llGUGLAS DI%ON
~:...u r'ee i ---~-~-BL I~ci~ Connty
Doc Tai i~~~ (~t ~f G~rCuit Comf
Int Tas ~ ~ By
Prepared by and Return to: DepLty Clerk
Deborah E. Buatti, Esquire Toc:,13
Gunster, Yoakley & Stewart, P.A.
One Linco2n Place, Suite 351
1900 Glades Road
Boca Raton, Florida 33431
ASSIGNMENT OF LEASES, RENTS, ISSUES, PROCEEDS AND PROFITS
THIS ASSIGHI~ENT, made and entered into this day of ~
January, 1990, by SOUTHERN EAGLE DISTRIBUTING, INC., a Missouri
corporation authorized to transact business in Florida (the
"Assignor"), to SUNBANK/SOUTH FLORIDA, NATIONAL ASSOCIATION
(the "Assignee"). All capitalized terms not specifically
defined herein shali have the same meaning as contained in that =
i certain Commercial Loan Agreement of even date herewith among
or joined in by the Assignor, the Assignee and others (the
j "Loan Agreement);
~ ~
~ W I T N E S S E T H:
~ WHEREAS, the Assiqnor is the present owner in fee simple
~ of real estate situate, lying and being in St. Lucie County,
~ Florida, as more particularly described in Eahibit "A" attached
~ hereto and made a part hereof (the "Property")•
.
~ WHEREAS, the Assignee is the owner and holder of a first
mortgage on the Property made by the Assignor to the Assignee
~
~ (the "First Mortgage") securing a certain Promissory Note in
~ the original principal amount of One Million Sia Hundred Fifty
Thousand and No/100 ($2,650,000) Dollars and a certain Term
~ Note in the original principal amount of T~vo Million Three
Hundred Fifty Thousand and No/100 ($2,350,000) Dollars
~ (collectively, the "First Mortgage Note");
WNEREAS, the Property is subject to certain leases with
the Assignor as lessor, which leases are more particularly
~ described on Eahibit "B" attached hereto and made a part hereof
~ (the "Egisting Leases"); and
b
~ WHEREAS, as a condition to granting the loan referred to
~ in the Loan Agreement (the "Loan"), the Assignee has required
` the execution of this Assignment of the leases, rents, issues,
~ proceeds, and pr~fits of the Property by the Assignor;
E-.
~
~
~ NOW, THEREFORE, in consideration of the Loan and other
~ good and valuable consideration, and intending to be legally
~
600K V75 FAGE~.S~v
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