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Loan Agreement and Loan Comr,iitment, all of which are
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incorporated herein by reference as though set forth herein.
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Mortgagor will permit no default in said Construction Loan Agree-- i
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ment. ~
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49. The name ALISON MORTGAGE INVESTMENT TRUST is the i
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designation of the Trust under a Declaration of Trust dated as i
of June 17th, 1969, a copy of which, together with all amendment ~
_ and_restat~~n~nts thereto is on file in the Office of the Sec-
retary of the State of California. The nar.!e ALISON MORTGAGE
INVESTMENT TRUST refers to the Trustees under the Declaration
collectively as Trustees, but not as individuals or personally; and
no shareholder, Trustee, officer or agent of ALISON MORTGAGE r
INVESTMENT TRUST shall be held to any personal liability here-
under; nor shall resort be had to their private property for the
satisfaction of any obligation, claim or otherwise hereunder
or in connection with the affairs of said ALISON I~IORTGAGE INVEST-
NIENT TRUST, but the Trust Estate only shall be liable.
50. The parties agree that at a11 times the laws of the
State of Texas shall be applied to construe and enforce this }
Mortgage, the Construction Loan Agreement, the Mortgage LVOte and.
all other instruments and documents securing or related to the ~
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Mortgage Note. The sole exception to the preceding sentence shall ~
be the prescription of foreclosure procedures under the laws of
the State of Florida, which will be applied in the event Mort-
~ gagee forecloses upon the Mortgaged Premises; however, even '
during foreclosure proceedings the parties agree that rights and
obligations not directly related to the applicable Florida ;
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procedural rules shall be governed by the laws of the State of
; Texas.
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-1 IN ~VITNESS WHEREOF, the Mortgagor has executed these presents
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, /ry _ unu~r seal the ~h day of August, 1973 to ~be effective the day
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and year first above written.
Signed, sealed and delivered OCEA,.~I GARDENS, INC: ,~"a.'P~~f~~~•' =--.•~s,~
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in the presence of : corporation ~ • , : :
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_ By : ~ I; ~
~chae M. S annou;;; ~Ce"s~,dent'":
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As to t4or gagor Attes t ~~RL~
, J e C. Ba er, ..~c ~ary ~
- B~x2~8 ~ 275 ,
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