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ninsty (90~ daye £raa the date of raceipt of ~aid notic~ to eflect
ouch_m~intenance or repaire, or if ninety (90) days i• not~a
sufficient amount of time to caaplete it, then within that ninaty
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(90) day period Media ehall 8ubatantially comaQence°to~eff~ct such
mafntenance or repairs. If after the ninety (90) flay period
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Media has not complied with the tenr~s set forth herafn, then - ~
C;ulfatream shall have the ri ht to undertake such maintenance ~
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arid repairs for the actusl amd realistic cost of samQ and collect
the cost from Media. Failuria of Media to immediately pay ~ueh "
coat of repaire shall entitle Gulfstream to file an action at law
or in equity against Media for the collection of same. .
T'he said mortgaqe ia hereby modiffed.to be the ~
aqreement between the parties and conditiona of the mortgaqe with
respect to Media's duty of maintenance and repairs.
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5. Notwithstandinq anything contained in Paragraph 5
of the aforesaid mortgaqe dated December 22, 1978, to the contrary,
the obligation set forth in Exhibit "C" attached hereto and aecured
hereby~shall not be assumable during the first five (5) years fran
the date hereof, and thereafter said obligation will be aesumable, ~
k without release of Media fran obligation thereunder, by a Buyer
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j approved by Gulfstream, which approval shall not be unreagonably
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~ withheld and shall be based upon acceptable credit and broadcastinq ;
experience, conditioned upon the obligation being modified to bear
interest fram the date of such assumption at a rate equal to one (11
percent above the p~ ime rate as determined by the Cheanical Bank #
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of New York or its successor, and being modified further to call
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~ for monthly installment payments of principal and interest calculated
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~ to fully amortize the loan as of the date of maturity. If majority
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~ ownership of the Radio Station WFTP-AM or the property mortgaged
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i hereunder is sold or transferred (as the same may be determined `
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~ by a Federal Camnunications Co~cnnission ruling at the time of
the sale and/or transfer) it shall be deemed to be a transaction
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~ $0~~311 PACEz~37~
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