HomeMy WebLinkAbout0738 herein amended, and the Loan Agreement as amended, or which in any
manner, af~ect the collection or collectibility or the principal and
interest due thereunder and secured thereby.
7.
Mortgagor does hereby ratify, affirm, reaffirm and acknowledge
to Mortgagee the existence, validity, enforceability and collecti-
bility of the indebtedness evidenced by the Note and the Advance
Note, and further rati.fies, affirms, reaffirn?s and acknowledges the
existence, validity, enforceability and collectibility of the prin-
cipal and unpaid interest thereunder as of Aecember 1, 1976, in the
principal amount of $6,487,606.48. .
8.
Except as herein modified, all terms and provisions of the
Mortgage shall remain in full force and effect, securing both the
Note and t"tie Advance Note, and shall bind and inure to the benefit
of the heirs, personal representatives, successors and assigns of
the parties hereto, and the lien of the Mortgage, as modified, shall
continue in full force and effect. In the event any provision of
this agreement shall be construed to impair the lien and/or security
of the Mortgage, such provision of this agreement shall be considered
as void ab initio. ~
IN WITNESS WHEREOF, Mortgagor and Mortgagee, each by and throuqh
its duly authorized representatives, have hereunto caused this agree-
ment to be executed and their seals to be affixed hereto, the day
and year first above written.
MORTGAGOR:
HUTCHINSON ISLAND CLUB, INC.
W E SE : ~
~ :
. gy : ~ -
~ .
Attest: ~ ~
Ass stant Secretary ~"5
(CORPORATE SEAL)
-4- c~RK~3 P'.,CE 7~~