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legal or equitable by vfrtue of such default.
3. The conditions of this security agreement as modffied '
hereby, are such that if Media shall well and t=uly pay unto
Gulfstream the indebtedness evidenced by those certain promissory
notes of even date herewith, made by Media, and payable to Gulfstream . ~
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of which true and correct copies thereof are_a~tached hereto as R
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Lxhibits "8" and "C" respectively, and which notes have been given ~
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in substitution of that certain promissory note tiated December 22,
• 1978, in the original principal amount o~ $562,SOO.QO and in further
consideration of final closing of the said agreement of the parties
hereto for the sale and purchase of radio station WFTP-AM and related
properties, and shall perform a-11 other terms and conditions otherwise
set forth in the aforesaid Security wgreement as moclified herein, j
then this Security Agreement and the estate created shall cease and ~
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be null and void. ~
4. Notwithstanding-anything contained in the aforesaid
Security Agreement between the parties dated December 22, 19".8, to ~
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the contrary, Meclia shall maintain and update all collateral i
I; described herein and secured hereby, in excellent condition and
~ repair, subject only to reasonable wear and tear. Such maintenance
' and updating shall include that which may be required to keep such
~ collateral a art of a continually operating radio broadcast station .
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~ licensed by the Federal Communications Commissibn. Gulfstream shall
have the right to inspect all collateral at any time during normal
working hours. In the event Gulfstream determines that s~h .
maintenance or repairs are not being undertaken by Media, Gulfstream
~ shall notify Media in writing via certified mail, return receipt .
requested of the repairs and maintenance it feels must be attended `
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to and Media sha~.l have ninety (90) days from the date of receipt of ~
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said notice to ef£ect such maintenance or repairs, or if ninety (90)
days is not a sufficient amount of time to complete it, then within
~ that ninety (90) day period Media shall substantially commence to i
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effect such maintenance or repairs. If after the ninety (90) day
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