HomeMy WebLinkAbout0267 3. Contemporaneously with the execution of ~his instrument,
"Mortgagor" and "ltortgagee" have entered into a Loan and Security
Agreement of even date herewith. Said Loan and Security Agreement
is by this reference incorporated herein and made a part hereof and
made a part of each of the above described mortgages. A copy thereof
is available for inspection by all interested parties at the office
of "Mortgagee". In the event of any conflict between the covenants
and agreements contained in the Laan and Security Agreement on one
hand and those contained in the above described mortgages, the notes
secured thereby, the loan agreements referred to therein and any
other related loan documents on the other hand, the covenants and
agreements contained in the said Loan and Security Agreement shall
control and any conflicting covenant and agreement is hereby amended -
and modified to conform to said Loan and Security Agreement.
4. The occurrence of any Lvent of Default as defined in the
aforesaid Loan and Security Agreement between "24ortgagor" and
"Mortgagee" shall constitute a default under each of the above
described mortgages, and "Mortgagee" shal2, at its option, be
entitled to pursue any remedy enumerated in said Loan and Security
Agreement as well as any remedy specified in said mortgages or any
of them. ~
5. Except to the extent specifically modified herein, the above
described mortgages, notes and related loan documents, and the
covenants, conditions, stipulations and terms thereof shall remain
in full force and effect.
6. This Agreement is being ~xecuted in three counterparts to
facilitate contemporaneous recording in Polk, St, Lucie and Nlonroe
Counties, Florida. Each counterpart shall be deemed an original
for all purposes.
IN WITNESS WHEREOF, the parties hereto have executed this Agree-
ment the day and year first above written.
Signed, sealed and
delivered in the `
presence of : OUTDOOR RESORTS OF AI~iERICA, INC.
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