HomeMy WebLinkAbout1482 C. The Lender and the Borrower have entered
into,~inter alia, the following agreements:
1. An Amended and Restated Loan and Security
Agreement dated as of March 31, 1979 (the "Amended Loan
Agreement") which restates and amends the provisions of the
Loan Agreement, and pursuant to which the Borrower and its
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subsidiaries have executed and delivered to the Lender a
promissory note in the principal sum of $1,800,040 (the
"Restated Note") which renews and restates the existing
indebtedness owing by the Borrower to the Lender, including,
among other things, the indebtedness secured by the Mortgage.
2. A loan and security agreement dated as of
March 31, 1979 (the "Loan Agreement") pursuant to which,
among other things, the Borrower has guaranteed the payment
of a certain S4,000,004 note (the "Note") bearing even date
herewith, executed and delivered to the Lender by Outdoor
Resorts of South Carolina, Inc., a subsidiary of the Borrower.
3. A Mortgage Modification and Extension Agree-
ment of even date herewith (the "Modification Agreement") which
modifies the terms and conditions of the Mortgage in accord-
ance with the provisions of the Amended Loan Agreement and
~ the Loan Agreement.
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! D. The Lender and the Borrower desire to amend
the Assignment to provide that it shall hereafter secure the
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~ payment of the Restated Note and the Note and the performance
~ by the Borrower of all the terms, covenants and conditions
~ on its part to be performed under the Mortgage, as amended
by the ~iodification Agreement, the Amended Loan Agreement
^d the loan Agreem~:.t.
NOW, THEREFORE, in consideration of the sum of
e Ten and 00/100 ($10.00) Dollars and other good and valuable
consideration each to the other in hand paid at or before
the execution of this instrument, the receipt and sufFicienc~~
of which is hereby ac!cnowledged, it is mutually covenanted
and agreed by and between the parties hereto as follows:
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