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027-Assgnmt-Whelchel-Mayfair InTHIS A3HEZiENT. Made and {�, day of i+tay, A. A. 1952. by and WHELCHF.L. of Sanford, Seminole County, the first part, and MAYFAIR INN, INC., ganised and existing under the laws of Florida, having its principal place of "1- 31raole County, Florida, party of the entered into this between hV(3H C. Florida, party of s corporation or- the State of business in Sanford, second part, AirwzsSaTN: That the parties hereto, for and in consideration of the sus of Ten collars each to the other in hand paid, mutually covenant and agree to and with each other as follows, to -wit: I. The party of the first part hereby sells, assigns. transfers, sets over and delivers unto the party of the second part that certain Alin *ty -Mine Year Lease dated the 11th day of October, A. J, 1949 originally en- tared into by and between City of Sanford. Florida. a municipal corporation created by the laws of the State Of Florida and existing in Seminole County. Florida, therein described as the Lessor, and iuyt{ C. !Nhelch *l and J. A. Ponder, both of Sanford. Seminole County, Florida, therein referred to as the Lessees; it being understood be- twesn the parties hersto that the said J. A. Ponder named in said leas* as a Lessee has heretofore sold, Assigned, transferred, set over and delivered his interest therein unto the party of the first part. 2. That as part of the consideration for the assignment of said lease. the party of the first part hereby agrees that on the effective data of this assignment he will deliver unto the party of the second part all golf course equipment. ;cowers, tools, tractors trucks and all other machinery and equipment used for the upkeep and maintenance of the property describes in said Ninety -pine Year Lease known as Sanford Seminole Country Club, and that Ile will deliver unto the party of the second part all furni- ture, fixtures and equipment including kitchen equipment in the clubhouse, and including equipment in the locker rooms, without the payment of any sums of money additional tO the sums heroin agreed to be paid by the party of the second part. 3. That as part of the consideration of this assignment, the party of the first part agrees that on the effective date of this assignment the parties hereto shall take an inventory of all stock of liquors, wines, beer*, soft drinks and bar material *, and all golf equipment in the pro shop and locker rooms, and on ti.* effective date Of this assignment the party of the secon part, shall in - 1 - addition to the consideration provided herein pay to the party of the first part in cash the actual cost value thereof before taking delivery. 4. The party of the second part hereby agrees to pay unto the party of the first part for the assignment u: :paid leas* and as the purchase price for said golf course equipment and clubhouse furniture, fixtures and equipment the sum of Thirty thousand and Nc /100 ($31),000.00) Dollars n the following manner, to -wit: $9,000.00 in cash upon the signing of these presents, the receipt whereof is nareby acknowledged by the party of the first part; Tie balance in the sure of 1.21 shall be paid to the party of the first part or his nominee in the following manner, to -wits $4,200.00 on or before February 1, A. 0. 19`s3; $4,200.00 on or before February 1, A. �. 1951; $4,200.00 on or before February 1, A. J, 19:5; $+1.200.06 on or :.efora February 1, 1956; and $4,200.00 on or before February 1. A. j. 1957; together with interest on each of said deferred payments at tae rate of five (5Z) per cent per annum on all unpaid balances remaining from time to time unpaid, interest payable annually on the date of principal payment on ail unpaid balances of principal, 5. The parties hereto mutually covenant and agree that this assignment shall be and ramain a conditional assignment until the entire purchase price therefor has been fully paid, together with interest i:heraon as provided in the last preceding paragraph, and the parties hereto further mutually covenant and agree that should the party of the second part be in default as to the maa,n of any payments either principal or interest due or to 40com* due as pro- vided by the last preceding paragraph and remain in default as to the making of any of said payments for a period of thirty days from and after the some become due and payable than and in that event, the party of the first part shall have the right, at his option, to declare the full amount 2 g duo and payable l be forthwith a rtyOf the Second tam rescind in such event should the p due and Pa %f this ss signmont to pay the entire mount they" and voids Ad of psys• sha21 d null of i�� first effect. and the Party ,oss;sssion f�cae and k t <, t ht to J.Tr%edla „sl; part shell have the rij cribad in said loose a d t the •# all of party in th =s asSi <asuxsnc personal p p art re €uses to an paymank ev at the party of the second P ro erty. .real and per ssesalon of said P p arty of the or toe rena party the first p o f the the A opasl. to the p ht fortEiwith to OppIr toatake first part shall have the right of a receiver "Urt of 1:1d prn for the a real and personal. ror the aenefit ehargo of acid d sea, of the roopostive parties hereto. 6. The parties hereto mutually covenant and agree that the party of the first Pa ir shall remain and in poesosoion O f the property described in said lease. VnO in possession of t Personal property described herein. he watil sass fie. �• 1992. P arty on which 1. data thisndofitnel sasi�nt s ha s hall beQOme effective•ossession of all of id NoOnd part ,hall thereupon take p pref, p real. and personal. It is further m utuall y 4 the parties Eroereto that, 'party o f the fi rst part b,twoen in food condition until JulyllNliinta�in1952.sai,s property y. Zt is r2utualiy ,'reed netween the parties beset that the party: of the fi part shall fso�► t is instrument through 3une 34th, A. D- ount t y bills for labor. and shall pay all czthab accounty 11 and o! th s. ivalWLin9 June 30th• ,,. J. 1952. and that on July lt° . real 1"10 he grill susrendor and de liver up cl trespc J 000al part free of . known as anford Gerninole country �: to the and per the second .e >t affi cz June +atr.. • party ei l4thit. a rees The party of the $. S econd part hereE+y 9 that in konsideration of the party of the first part unt il e golf course until Sainin# in Possession and aA ratinG a ;�e fir A. 4. 19,2. i t tc the party of t will p y s ant by the party o f the July 1 • all suers of money d mo A t Say * f ur c hase of fertilizer and andthatsuch ys1 • t .oY.119'32. and July 1 A. 4. 1952. art in shall be made by the F Payment asrtI of the s p p ossession to : M0 0 ; on July 1 A. 0. 1992. at the time of taking o: delivery, of the . operty described if, Said lease. mad .. 3 - agrees that it willataonor`f et alletimesntt,eart hereby shi nar;slder- as In xanfoz'r� a0;14,nola Country :lub heretofore isswad to 3aarge S. Witmer and wife, :belle 5- Wittler, formerly of =i'aninoira � - lorlda, now of JI -mond seac ,, ;soluble County, Florida, and to Frank - of Uriando, oranq* aaa,Ztj , F7 i dxr, i` •'. party of Via seco"Id iaart herttoy agrees to honor all annual memberships herotafore issued Y k :a par ?.y of the first part ur:til t,`, of the same. e axpiratloaa dote II. It is understood and agxeed between the ,aar'tias hereto that 6JZa party of ts.o s_rst ,part not co- 'plied with Paragraph 2 of said Ninety -nin year Lease, rat that conk 3 r',race t"Nere.of to data: ibv M > City of Sanford, Florida. rvea waivVJ by 12. 14 part of the consideration paid to th art; of the first fro.' `u ` the Iraa'ty Of the second ;rant, the party of the first part hereby agrees th sae wi11 pro. Cure conser,v tai t; is aus� bra ,8nt isy �it of 'arsfar'ds t"Iorida, and that in procuring consent of sai€lE�ity he will secure a " "v fx sail ;:U4 AaivinLy e:ac ; anu every condition o f 1. - e�{ulreaa r t , v iolet z; a: annual a ear ` "asses coranect -)d with Year be nade oy 1 .16 Les ea for a period u of i five � years, and connected volt;; th , satc°ling of any suc *a funds ?a1 tt�4 pity Of Sanford, Mlorida, for the 5ulldin3 of a clubhouse o f.cc er rooms on t�'ae ;rraaper#y c i f n said Feria, an d further egress t"at .it of :ianfaord, °lor da, will wa ;, and all s.cta r�quixame :Fts a'la oil.l. 43ive any area all pay!sa , ints of Gray kind conLaineJ 'n s,jij �sas¢ :, way of rat: =:2 ratxssz + :e c a.hr s =an of "aJ gr x ua. I =. It Is Taut aaljy - ayx+aes Between t ie a that this aassign,nant siaall be and remain a co diional nt asst nrnent aan small not . e ono �aecoae final until each an ly effective al ever; o< anneal �aayra+:rt6 faeruiaa the wuserved it p" 7•a -srl<' of t)a< Firit p ea: b ..7 <y+3'':. ak: Y' +,YF i. k d':te. �...wa tat t :hezersa, as }rovidOd herein }ajcy uaaon ,lea e to tie party t fi_ w9aa3C ujaon Y:4 ' s 9 U ; ar 4 C 2•• if 1J a L r.lneii ra3Cei�t`�. :a by the party of the first k�a.art t3ac f+ vii �f ,s 1 a t +.'ae s€ oau pay sat � ' a gents to "aave :leer jmado t'ais assign °.aeaat shall }3 pa ty a�n�bi.�tt ^, c3i'a,A a.}.1 �i��, it, !.+.tie : nu` interest of pa �f thc+ firer. �xv• s Ci' il,. :. a,..t.. i C� a:. 71;a - c. C` as u3;operty, real or _r sE ass cs In L.ai� ssWz "t shall ue and hecoje the absoluto property of tlae� conc9 part, subj to all ter,nsa and conuitiuns of said e lease and the approval hereto attached. 4 - 14. on July 1. A. v• 1952o the unearned portion aid in aeoh by the Party lie ass shall be P art$ and the State et the "d P er t to the party at the tiro the first part to the aoos�ad Pa Noose* shall be assione'd by the party o the party of the 6 p art. of the first IM 1111'1"s WHER4ROPP the Par nd the P6rt*Y of Par! has hereunto et 341a 3 a s reci end ama r n art has ecsused these presents to be ee h e r eunto the sesasid p : r�rate "al to orate naam a b hereunto in its corporate .ta ai'dixod by its psapar exea +ativoae- Offi irstaeboveawrittanl.• soaretsry on this the day end s i gn ed„ sealed in SAO Presence IAAYFA I!d`ai, INC Syt I S P.tt 7. Bfl.E Its , a nd deliytrea of :a�cirs Part• 4 t party o the Second pert• SEAQ STATE OF FLORID ry <'!F SEIAIRICR.E bef ore Me C I }4 4tzY ITIFY that on this da ell known to ma w Personally appeaFec� na ,.�. to the paraans nassad in and rho a %ecu�edA`ttrei Vare° be Ono O e n *'teS�t. who the . fOF going Ca+nditionai .s.,zy a,d voluntarily that he Ox t tt 6v $ *ir, f ile farad. � r uses and purp ' VT?'4F: my j» ravl . n lorf da.yon�thistthmn�� County of Se m i nole anal :Mate of day of "70 , ",. STATE OF COUNTY OF AM vQW I HEREBY CERTIFY that on this day before ate personally Ooneared _ �IC1RA r r g,11 xanr and " " to me well known to be Yi?ESIJi. tT and Treasurer a = espectively of ?Mayfair Inn, Inc., a Florida corporation who acknowledged Wore en that they exa`utad the foregoing Conditional Assigrweont as the act and deed of such corporstion, and that as such officers they are fully authorised and ens« Powered so to do. WITNESS my hand and official seal at _„ County of and State of New Yorks on this the ... t day of May. A. D. 1952. • voN m s � O ` • � "b COrk CITY OF SANFORD. FLORIDA, a municipal cor- poration, hereby ratifies, approves and confirms the foregoing Assignment with the following conditions, sti- pulations and additions to said original Luse, which conditions, stipulations, agreements and additions to said original lease are hereby accepted by Mayfair Inn, Inc., to -wits 1. That City of Sanford.Florida, and Mayfair Inn, Inc. each mutually agree that the annual rental of $1 per year for the first five years Of said term to be paid by the Lessees, as provided by Paragraph 2 of said Ninety -Nine Year Lease, and the matching of such funds by the City of Sanford, Florida, for the purpose of erecting a clubhouse on said property be, and the same is hereby waived and eliminated from Paragraph 2 of said Lease. 2. That Mayfair Inn, Inc. as Assignee of said Lease. and any subsequent Assignee thereof upon approval by the City of Sanford, Florida, $hail maintain the golf course upon the property described in said Lease and the clubhouse and looker room facilities. and shall at all times permit the use thereof by local residents and their guests on a membership basis and daily green fee basis comparable to average membership fees and daily green fees charged oy public and private golf courses in the surrounding territory of a radius of fifty miles. 3. That Paragraph 1 of said original Lease and the description of the property therein be amended by adding thereto the following described property, to -wits Outlot No. 1 of The Country Club Entrance Section of Loch Arbor as per plat thereof duly of record among the public records of Seminole County, Florida. 4. That Mayfair Inn. Inc. shall not be re- quired to secure the consent of City of Sanford. Florida, to assign this Lease in the event of 6810 of Mayfair Inn provided said Lease is assigned to the purchaser of said hotel. IN WITNESS WHEREOF City of Sanford. Florida. has caused this approval to be executed by its Mayor, attested by its City Clerk, on this day of May, A. 0. 1452. CITY OF SANFORD FLORIDA By = Its Me-y r� Signed, sealed and r delivered in the Attests pr n cc e oft City Cl, accepted. e oinq confrmapproval and air I nn s Inc. nc The fo! 9 ied by Mayfair ratified. approved and I8 TNN , Y D Signed. N #led and Attest•_._- . asurer• delivered in the Presence oft STATE of FLORIDA this day OOUNTY OP SEµINOLE the undersigned a uthor i ty * S ayeTs to B BgORE ME. I. ,temper and H• N• executed eared ilium rkamed in and who :'<ity Clerk, personally app t© be the p ;, and 0e well knovm d amendment as Florida, a , nunici al appro the foregoing an. Of the City of Sanford that th a reip eativelye they acknowledged before mthe fr act and Oration. and behalf of and as ee t h Corp and on en d that they are Slem cut th.ity Of Sanford$ Flor�dad deed of set my hand duly authorised• I have hereunto this WHEREOF f;ounty. Florida. IN WITNESS S and o_ tfi fial seal at Sanford J` 1952. day Of Mays State of Florida Notary 'Public. iras /s, /9f� M Commission Exp 0 me STATE of .... this day before and Co1JNTY O vr :. i IFY that on I HERcH• to be r eared to ne well known person #11Y p�. 3,�Ie .._- -- spectively, of ta'fair __._ ed before �-� an(' Treasurer ?any who acacnowi cDr orat naval and a, �s such Snc.. a Flarid the foreaoin app and that as Inn. they OX 40 ad d corp oration „ to do. ee th dead of such <a owered so as the act and fully autrioliaed and rllp officers they are s ea at LY9—"e WITNESS Illy hand ai u official s a _ and Stat,3 a D 1952. County of ... Ti.9� —== — of May • A on this the .,,3L da r� 1 sSF x'""'�`publ1C. Notary My Commissil� �,u WILLIAM BRANDT Notary Public, State of Now York No. 03.5425900 Qualified in 91bnN Cold, Had with Mm Veen � . 00"aad'slon Ernlras Match 30. 19"