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automobile eervice station, all of said improvementa, facilities
. and equfpaent, except pereonal property to remain the p~operty
: of Lesaor upon t6rmination of said Base Lease~ and ~
.
W~R$AS, to assist Le$eee in satisfyinq certain indebted-
ness owed by Lesaee to other partiea for the purchase of inventory -
and equipanent and to obtafn for Leasee worki~+g capital needed for
expansion of Leasee's`petroleum marketing business, Lesaee has,
by Lesee Agreement dated August 22 , 1967, (herein called
"Pure Laase"), subleased to PUR$ OIL COMPANY, A DIV~ISION OF UNION
~ OIL COMPANY OF CALIFORNIA, a California corporation, (herein called
"Pure"), the property covered }~y the Base Lease, alonq witY~ other
properties, for the oriqinal term of fifteen (15) years ending
September 30 , 1982, said Pure Lease being reeorded in
Official Record Books ~ 8 , Page `--1_a,,,,~-• Public Recorda of
St. Lucie Count~, Florida, reference to said Pure Lease being
hereby made for all purpoaea; and
WHSRSAS, as a part of the financing arranqement contem-
plated in the next previous paragraph, the fallawing additional
; instruments have been or will be executed and delivered by and
~
~
~
~ between L-eseee a~c3d Pure:
i
~ (a) Sublease Aqreement (herein called "Sublease"),
~ aat~a August 22 , 1967, from Pure, as 1eaBO=, to
~ Lesaee, as lessee, coverinq property deacribed in
the aforesaid Pure Lease and running for the same
~ teran, " less one (1) day, as said Pure Lease; and _
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~ (b) Mortqage fram Leasee, aa Mortgagor, to Pure,
dated Auaust 22 , 1967, covering, among other
propertiea, Leasee's leasehold interest in the -
property described in the first paragraph of this
Collateral Agreement, which Mortgage secures or .
will aecure the rental payments, plus interest on
x past due rentals provided for in the aforementioned
Sublease and insofar as provided in said Mortgage,
secures or will aecure the payiaent of a note re-
ferred to in numbered paraqraph 26 of the aforesaid
Pure I,ease .
WA$RB~3, it wae agreed and understood by and between
the undarsigned parties that eaid Pute Lease would not be effec-
tive until and uriless Leesor and Leseee entered into thia Collateral
" .
Aqreement to saeure Pure and/or Leseee of continuoue posaeeaion
- 2 ' s~K168 ~19fi7
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