Assignment of Rents & Related Payments • I '
ASSIGNMENT OF RENTS AND RELATLD PAYMENTS
This ASSIGNMENT, made this day of 1977,
by and between AMERICAN MEDICAL AFFILIATES, a Pennsylvania corpora-
tion, hereinafter called "ASSIGNOR" and FIRST NATIONAL BANK OF
THE UPPER KEYS, a National Banking Association, hereinafter
called "ASSIGNEE ":
W I T N E S S E T Ii :
For value received, and to secure repayment of the
loan hereinafter mentioned, Assignor hereby sells, transfers
and assigns unto Assignee, its successors and assigns, and
grants to Assignee, and its successors and assigns, a security
interest in all the right, title and interest of Assignor in
and to the rents and other payments ,_:, which Assignor may now
or hereafter be entitled under a certain Lease- Purchase Agrc:=ent
dated April 5, 1977, by and between Assignor and the Board of
County Commissioners of Monroe County, Florida, ( "County Com-
missioners") under which Assignor has leased to County Commissioners
the real property in Monroe County, Florida, described as follows:
{
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SCHEDULE A
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PARCEL "A"
Being a portion of lot 12 of 'Randal. Adonis Subdivision, according to
the plat thereof as recorded in Plat hook 1, Page 110 of the Public
Records of Monr<:c' County, Florida, and o portion of Government Lot 3,
Section ft, Township 63 South, Range 38 Lost, Plantation Key, Monroe
County, Florida, be'_na more particularly described as follows: Begin
at the intersection of the Northwesterly ri -of -way line of U.S.
Highway No. 1 (State Road No. >) and the North line of Key Heights
Section 2, accoidi n--i to the plot thereof as recorded in Plat kook 3,
Pag; 159 ot the Pi: li_c Records cat Monroe ('o.o :nty, Florida; thence N
39''26' 30" 8 along Northwesterly r � ;ht -of -way 1 ine for 333.12 feet
to an intersection with the Southerly right-of-way line of High Point
Road according to the plat thereof as recorded in Plat Book 4, Page 96
of the Pul..lic Rc'c ords of Monroe County, Florida; thence N c 8` 13 ' 00 "W
along said Southerly right -of -way of High Point Road for 406.69 feet;
thence S 1 for 225.06 Fret to an intersection with the Southerly
line of said Lot 12 ot Randal Adams Sur.divis ion for 260.59 feet to a
point of termination along the last described line; thence S 0 ° 13'24 "W
fo' 52.59 feet to an intersection with the aforementioned North line of
said plat of Key Heights Section 2; thence S 89 "E for 462.57 feet
to the Point of Beginning. Soid parcel containing 2.15 acres rnor.e or
Less.
PARCI',r, "C"
Being a portion of Lot 12 of R.,nd 31 Ado:_; Subdivision, according to
the plat thereof .,s recorded in Plat. l3ooik 1, Page 110 of the Public
Records of Monroe County, Florida, heino i;uore particularly de::- 7cribed
as follows: Commence at the _intersection of the Northwesterly right -
of -way line of U.S. Highway No. 1. (State Road No. 5) and the Southerly
right -of -way lieu of High Point Road of HIigh Point, according to the
plat thereof <+s recorded in 01 .L 800l; 4, Page 96, of the Public Records
of Monroe County, Florida; thence N 86 ° 13' 00 "W along said Southerly
right-of-way line of high Point Rood for 400.ro9 feet to the Point of
Beginning of the hereinafter described parcel: thence S 1 "W for
225.06 feet to an intersection with the Southerly line of s;: i4 Lot 12
of Randall Aden's Subdivision; thence N 8' along said Southerly
line of Lot 12 of Randal Adams uhdivi:,i->n _cot 200,00 feet; thence N
1 ° 47'00" E for 225.06 feet. to .n i.nLcrse:•tt)n wi Lh the aforementioned
Southerly ri_Pub- o:-wav of said Thigh Poinc Read; thence S 88 ° 13'00 "E
along said Southerly right-of-way line of li i u h Point Road for 200.00
feet to t.hc Point 1 I'c•l inn i_ri ; . d i'.1I ‘'el nt- pining 1.03 acres
more or less.
i •
PARCEL "D"
Being a r) art ion of Lot 12 of panda] Adamiz, Subdivision, according to
the plat thereof a -, recorded in Plat Book 1, Page 110 of the Public
Records of Monroe County, Florida, and a portion of Government Lot 3,
Section 8, Township 63 South, Range 30 East, Plantation Key, Monroe
County, Florida, I c_i_n 1 more particularly described as follow:: COMMENCE
at the inter of the Northwesterly right -of -way line of U.S.
Highway No. t (State Rood No. ) and the Southerly right - -of -way line
of High Point Rod of II_igh P:)int, according to the plat thereof as
recorded in Book 4, Page '.)C,, of the Public Records of Monroe
Cc;unty, F'1o1 .ida ; tl)c r1ee N 8 1 3' 00 "W along said Southerly right -of -way
Line of IIi_1h Point P...ad, said right-of-way line being also the North
1 inc of ,;a id lot 1:'. of Randal ,',dam's SIiLdivision for 606.09 feet to
the Northwest cor_r1(Jr of Par "C" as de hereon, said corner
Leing the Point of Beginning , t the hereinafter described parcel;
thence COntl_1i 1 "W tot £32.00 f ('(OL; thence at right angles
N 88 :'n0"W par i lei to :;, ly right-of-way line 01 [Iigh
Point Road for a distance of 2:.44 feet; thence at right angles
t
S 1 4 7 ' 00 "W tor. 143.16 feet to an intersection with the Southerly
line of sa i.J Lot. 12 of Randal Adam's Subdivision; thence N 138 3' 00"
W along said Southerly line cif said Lot 12 for 131.0' -9 feet to an
intersection with the West line of High Point Block 3 Amended and
Extended, according to the plat thereof, as recorded in Plat E:Jok 6,
Page 19 of the Public, Records of Monroe County, Florida; thence S
2 00" W along said West line fur 63.00 feet to an intersection
with the North line of Key Heights Section Two, according to the
plat thereof, as recorded in Plat Boo'c 3, Page 159 of the Pu },lie
Records or Monroe (_aunty, Floc ida; thehlce ° 50 1 (J3" E along :paid
North line for 34i.0 feet to the rPQ_ st : 0 thwcsterly corner of Parcel
"A" as described hcr on; thence along the limits o:. said Parcel "A"
for the following two (2) courses; (1) t he cu N x_)` 24 "E for 32.59
feet; (2) thence S Pf; 13' 00 "I; for 80.'_x`1 ; cct to the .Oouthwest corner
of :aid Parcel "0' and .+1`'u the H teriuir L along _;aid limits
of said Parcel "A "; thence N 1` 0 along the West line of said
Par_7e1 "C" for 2).31 feet t(' t.'1.' P..)i.h:t of Lc Said Parcel
"D" containing 1.H"' - res isorr' or
•
And the Assignor does hereby authorize and empower the
said Assignee, its successors and assigns, to collect the said
rents and other payments as they shall become due, and does
hereby direct the County Comn:i.ssioneies to pay such rents and
other payments as may now be due or small hereafter become due
to the said Assignee, its succes,or_, and assigns, upon demand
tor payment thereof of said Assignee, its successors and assigns.
It is understood and agreed, however, that nu such demand shall
be made unless and until there has been a default= in the payment
of the indebtedness, e: idenced by the note of r,ssiynor hereinafter
described, and until such demand is made Assignor is authorized
to collect, or continue collection, said rents and other payments;
but that such privilege to collect as aforesaid by Assignor
shall not operate to permit collection by Assignor, or its suc-
cessors or assigns, et any in;talim of rent or any other
payment due under the said Lease.- Purchase Agreement in advance
of the date proscribed therein for the payment thereof.
The term of t iii. ; assignment shall be until the certain
note (or any extension or renewal thereof) dated May 18, 1977,
made executed and delivered to Assignor by Assignee, for the
sum of Seventy ` nousantl and 00/100 Dollars (70, 000.00) shall
have been fully paid and satisfied.
-2-
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This assignment is given as security for the payment
by Assignor o` the indebtedness evidenced by the note above
described (or any extension or renewal thereof) , and any amounts
collected hereunder, shall be applied on such indebtedness.
Nothing herein contained shall be construed as making
the Assignee, or its successors and assigns, liable for laches,
or failure to collect said rents, or other payments, and it
is understood that Assignee is to account for only such sums as
are actually collected.
IT IS UNDERSTOOD AND AGREED that neither the existence
of this assignment nor the exercise by Assignee of its privilege
to collect said rents, or other payments hereunder, shall be
construed as a waiver by the Assignee, or its successors and
assigns, of the right to enforce payment of the debt hereinabove
mentioned, in strict accordance with the terms and provisions
of the note for which this assignment is given as security.
IN WITNESS WHEREOF, Assignor has caused these presents
to be executed the day and year first above written.
Signed, Sealed and AMERICAN MEDICAL AFFILIATES, INC.
Delivered in the
Presence of:
' By \ l \`- 0UZ SEAL rt
• • • - /. ►t _ President
/ /
BY: (SEAL)
Secretary
• • •
COMMONWEALTH OF PENNSYLVANIA)
:JS.
COUNTY OF
Before me., the undersigned authority, personally
appeared J. and J. L. �1YLSWO i H . JR. !
to
me known to be the President and Secretary of American Medical
Affiliates, Inc., a Pennsylvania corporation, and acknowledged
that they executed the foreoinq instrument for and on behalf
of said corporation as its act and dc with full authority
so to do.
In Witness; W}auf, , 1 have hereunto :set my hard and
official seal at I / , , said County and State,
this day of June, 1977.
am%
No a y Public
0
My Commission Expires:
•
s
Ff. .
h'ennsq i'; 7il :d' ''L'. fi on Of (+n' .fes
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LSD69
COLLATRAL NOTE— SINGLE PAYMENT 70,000 00
$•70 • Tavernier. Florida Idat/ 10 4 110 I9 77 '
January 2, 1978 after date the undersigned (and if more than one,
each of them jointly and severally), hereinafter called Maker, promises to pay to the order of — —
FIRST NATIONAL E3ANK OF THE UPPER KEYS
at its office at Tavernier, Florida , hereinafter cailed Bank
Seventy Thou,5culd and vice/ 100 TSollars DUE
69 895.00 v. S. 105.00 L. & D. No. ___.____ _.
(which ansuunt includes Proceeds of $ P - plus other charges
-
(Describe)
Q4' 10-5. -0 70 000.0q
$ __ - re5uiting in an AMOUNT y FIN �,t ANCEC of $ /. with interest at an ANNUAL PERCENTAGE RATE of 8 %, which
results, in a FINANCE CHARGE of ¶ ✓.42 . ∎ on a 6 month maturity, if demand obligation). If not included .,hove, other charges
in the amount of $ _ _ have been collected fr ^ Maker. As
(Describe)
security for the payment of this note Maker has pledged or deposited with Bank the following property:
ZOttP014 X 00.904 X R A,s - L ea t e- Puneha,s e Agi eerie nti
between Ame- 7'%ealt Med icat A66xt.-1.et,tes, Inc. and Boaitd o.6 County
Commtis o6 M" County, F.e.cnida dated ApiLit 5, 4977
(including all cash, stock and other et videncfs (rnd all rihhts to subscribe f'r • ecurt'r's incident to, declared or F;rerted in connection with
such pru ; wh ;_'' property, ti- '['emir with ;ill ifiLlitions and silL'stitut ens hereafter pledged or deposited with Bank is caned the Co. l
lateral. The Collateral is also ;,leer•er' as security for all other II:TbIIltlos (j,rlmary, secondary, direct, cor,tin;- .role, joint or
st', cra!), due or to become dui' cr etin uh silly her ?after contracted er acquired, of each Maker (Including each Maker and any other
person) to Bank. The surrender of the note, upon payment or otherwise, ha!l not affect the ri.tht of Bank to reta,n tie Collateral for
such other liabilities.
A,Ir: , r r,, o.. ..r , et' I' , alr.r I,' Inr ",it I. rot., I , r, 1 n r n 1
.. o.s ,,, e 1 ,•r .. , ' :h, , ,'. 1 n.. t .... 1 ,n !o ,v,t'. 1, , - ,i., , , , r
�ascn-
L - _. rn, •,Ont
...
t , ,
tr, F 1' 'I, ,I I• , i ..1 t_,ke a!I sec.
sl, f or su.. !, , 11 , t'. ,r e J ret ,, .,, f n., , .t • r ,n. 'I..!,' , ,r , r: tic ' • ,
It the Cv shad 't ,ny time be,_ •i , ,s it ,f - '.I„ry t„ Bank '. sh within on.e day after demand .tuitago and deposit 't.n '1...1'a a- pa -t of
the Collate, 0,1 t„ 1,11 property wh ch ,s s ,t,• f. ,'ry to P , ilk
It Lank diieres (twit Ince_ure, or u; .u, "he 0 ,;'penis.; of any' , N thr f, Il, -.,• 1I•,, elc'1 of which sh, constitute a )104',.,._0 hereunder, all
of e.,; h 3 , J. ,,. t3ink sh ,11 then -,, 1 o or th,.rrrl l,• it U e e'rm,, . r „f Ii v+k v. th u, r ,'n or dn ' ,0 her 051 1,, ,. ., ,a y, , la) fa, Jr e
o f . •o 1 1 (`:dolor (whr,h tar• t., 1 ;lea- and ' ,e • ;,_n L!�11, r er'f o . -r surely .333:1 gU. 'rant.,( fit this note, , , perform any agreement hereunder, to
Inters 01 h• • '01 v.•'h,n ten d n•s oft, • it '. hen 0 ur other.v,,' re„nr steel or ilern.,ncle r r to p ,y any other Iveb,L'y whnt'.0evcr to 13, -ilk when due; lb)
Ne of ((t..'.R•� , the f'4n„ .7 any tit
ion rion under the 110 „ 4, Al t. or .i s vii ' ,r 'role' 11 or •,late r.t. ,t,�te,
„_ - , •'1 „ y "y by or •0ta,r •.1 ally Obh� or, (d) an
pu ear rent of 3 re, : e-1,er for, the making of a got ,e ,I .,. . meet fir the benefit of creditors h•,, ,,r the insolve' y ct any Obligor; (e)
t h e e n t r y of .4 ; o , ; e • , e n ( i4, ,slot 0ny 01 , i } a r , the , . . u . n , , of . . . . . . .l ah, i :n•nt , V ,'... ,f ,ens ur the 1 111Ir of any hen, against an/ property of any
the late ,g or p 5csvon „1 . • ,y • . .13: l., :1.o p.,rt of U1c pinp0 ut •n ,' , , r +t the „is(n roc, c4' .my gucenmental authority; 11,) the dis-
.o'ution •n' -rger . ( a trop, or reu:{ ;., .': 0' of any Obl,y;r, r, , i ti,c winnent t,, an, M r.1 any ertu'ty 'n any of the Collateral without the written
(r riot of flank
Pa3 k s!a: 'I _ tut shall nit be in-it •r1 1'1 7' :Iawn,g r p,hh, r a, ii of wh ch nay be r'.er d at any tune whether or not this note is due: h,
to pledge or t'an,f.r this note rod the C„” l,r +l 1 ,' Bank :,boll thereupon I,• rvlie,t• uil 11 ut and r0 sp _ ':' bll:t,es he','jnder .ao1 relieved from
any and all I'ab,1't w,Ci 'espe.t to any Collateral ',u plea ell or traesfer'o'l, and any ple:'ho ( - transferee 'nail fur all purposes stand in the place of
bank hereunder ar,(1 have ail the n „Irs of Bank her, .,ndee r !ii) to tr.ant,ter. the whsle or ,ray p ut of 'he Collateral intro the Warne of itself or its nominee;
(,u) to vote the Co!' its., al, ('v, to n..,t'ty the , ,r•, :u, any. .'':' +anal to m ,ke (,.'y:nent t„ :1.in', o1 ,lily anr,u,,t•. due or to be(. ,vine due thareon; (v) to
nceiand sue for, r ol'eut, or make any sainprornise or 0ettlement it derma. d0 slid L'e with ref, r•..re tc the 0r ,lateral and !v,) to take control of any proceeds
„f Collateral
Bank ,s i,erety given a lien Up: an an.' a security int'ere'st Ic ,11I property ul ,a,h Oblo''' now or at any time hereafter in the pos•,es•,ion of Bank
•, .(n, Capacity v.h. ,too, ver. 13, hut not hm f0d to any L.1 v , r ,), are ,•f an. t. 4. 1, n 1[;rr ' ,3C (3 .15 e,.urity for the payment of
this n and a slr,'lar Ito upon .; sec Ur ty interest in all s "U1 pr'' : rty of c . n M ,k,r , lee unity for the payment of all other li.ahilities of each Maker
, Hank ,,nclu,l,ng to lb,lit.es o af eat 111.,ke, and any other person); and L' „•k sh,,': h.,.e the • an'r rat ;■t<, as to '.033' 13•31) : rty a; it ha , with respect to the
C.,II.ateral
If bank deien_ itself insecure or , .1 on the occurrence of any default hen•u n('' 4 '0+,44 shall hive the re nedies of a secured party under the Uni-
f am C. ial „10 inc! without I'n, 1107, 111, ete,er., Lty ut the firer .' ,. f;. n'n '.hail I,.• •( ILr r ;,iat, in,rne'11.1f -ly and without lurther ;,(.tine by It, (0
set of ,n , -'n•_1 the note . 1 1 1 m. ,oey nwerl t y .7 i n k u, any capacity to e n • any ('1 , 7',_r, w'orl h, -r ,., 001 (7.0 'led also to •,01 r t1 ,g;: 51st all other
1'.,h W i(•. u' • ,. 11 5' ,,•., to Ilan. ,II nee ,,, ' 'o IS_110., in oily , ,p.,, 1, Io , ' ' .' y t, .,, I 4'1., 'r •.1.a he deemed to I. .140 rA'rcr.ed sneh
plot ill •,e t , tt au,. Io hale m(:de a ,h.,'p,• ,; 1111•,1 any Much 0100ey unrne•d ''rlr ,� •1 (se .,., n_ Uf t.u•. -1 de! 3„ t eve, the [1 ' uch charge is made
3, 3 ' n ere•d nn the b,lnks "f Rank ,ub•,r. , ' n t thereto. t t n l e • , ' , the C - , 1 1 , , o r a l I . 1 0 ' ' : t L I ' I l s e , t e l l . , to d,i..1•ne r.1 "nt-ly in v,l•,e or is of a tyi_e sus -
t sold 0' a 'e•,ottni :ed market, ,:3 will p M,tk,'r roasor' '" • ..,h. e cI'hr rain a- '1 pl.,,.• of .,n, :.1, .., c thereof :or r7 11:0 Inc after which
..',y pr .ate ca. or any other intes,•cl(d c1,•. pos,t,nn thereof i5 to b • irruie. The re rr.+s.:r ,b' r' 01.0,' t.i. all be rue! of to, .01 notice is (nailed
p 1 stage prep l i d . to any Maker at the ,: ;Ire [ ' I V e I , Sulu,v or a t any : . I ' ) ' . , : ' - . she- .r 033. O',_rr!s vii U' �k at leaf rc, Cave before the time
of the sale or d ..'ion. Up•'n rli ,postinn of any r,oll,tent ift••r th, ,It , n
•.i.1, ' . . ,. 3,1 - .31r1 3,1 r Lall toe 3,1 liable for any
((horn, y- ,133)1 7)_. .3 „.hall 1r amt 1.' M, krr 1 ,r ...phi Lul ' ink • 1, ,. ,r 11 e ,,Lt to • t.,y 1. ,, • y 1 '' 1 ' - o(t' , t l •, , r 1-: hold the same
0s a 035(300 ay, n,t, any and „;I cal ,•r I • , I •. - n. trn 1 r ar,y
N„ Jet e / nr ,um,5100 033 th • . 'rt of hank ,u e ,•ru, np Day r 3 „ n.n, r ,,.330, ' ,.1 , ,
. I t i,t f :tee' r ght r
U”
the. n • . • t e P , o . , ' . , t ' u • n t . , 1 ( . r a n , ' , P r o l e I ' : 5 , 1 : ' . and ■•t , r 11 , 1 1 ' • , o.., ,., , ' : 4 1 b , , Ly c , c ' ' . , n - 1 _ _ Yfir. The
117,11go,s, , „n'4, .n. d se,er.,lly. I,r, ",'•. 1.1 1: p. 35 31 costs f c • 1 ,,n 11 . , „ IC _ 0 'le • r1 rr such larger
a iuun(s +s n1.,y ..e 1, .•,oi _, hie and t II „ ,., 0 urt h n,,n'n ,r et ha: r „ • ' y r v tt ,L' � .r y '' k1 a)Ilt An no' -e to M iker shall
L, soft.., entl. se', et' 4'c( a! purposes ,. 1 the '03 :1, postage pt-p u t, , r� a .r I_t ip „ 'i,. ,.r • _ ,, tha
'`1�' ' J7•rs . • wr. O_ o,v or any
N her t.h, .vn 3,3 ul,Ir
Maker auk,; • It, , of t the, N, 1,• Al.iERICAN ti'=VICAL AFFILIATES, INC.
,,, S( Le Apts. - JelikintoiUf, ('u. 1.3y
'SEAL)
190-16
(SEAL)
(SEAL)
(