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_ EXHIBIT B
Special provisions in that certain mortgage from G G S, a
Florida corporation, to the JENSEN BEACH BANK, a Florida
banking corporation. ~ .
1. In addition to the real estate, this mortgage shall also
encumber all furniture, fixtures, and equipment located in or
serving any improvements, including, but not limited to, the
structure to be coastructed on said property, the sewage
treatment system, and water supply system on said property.
2. This mortgage shall encumber, and mortgagor does hereby
irrevocably assign all rents and other revenues that may be
derived from said property or any improvements that are or
will be constructed thereon.
- 3. In addition to any other covenants in this mortgage, the
mortgagor shall be considered ia default upon the happening
of any of the foliowing events.
a. Failure to comply with all the provisions of the tri-
party agreement entered into by the parties, and all of the
provisions of the "take out" agreement of Life Investors
Insurance Company of America, dated October 17, 1975 as sub-
sequently amended. It is the intent of the parties that
martgagor, shall at its expense, maintain said "take out" at
all times.
i b. If the mortgagor shall transfer either directly or
~ indirectly any portion of the encumbered property, including
j real or personal,'without the express written consent of
! mortgagee.
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~ c. If mortgagee, o~ any of its stockholders, shall transfer
~ or otherwise change the proportionate ownership of the stock of
~ mortgagee.
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€ d. If mortgagee corporation becomes dissolved, ei±her
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= voluntarily or involuntarily.
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e. If any bankruptcy, receivership or similar proceedings
are filed by or against mortgagee, including all voluntary and
; involuntary proceedings.
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