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party. or the purchase by any party from Borrower, or which re-
quire the conveyance. traasfer or assignment to another party of any
of Borrower's interest in the real property or any portion thereof
described in Bzhibit "A" attached hereto and made a part hereof, or
any buildings or improvements presently situated or hereafter con-
structed thereon, including condominium units. (collectively referred
to herein as the "Property") .
(b) The term "Contract Rights" shall mean Borrower's right to receive
payment for services rendered pursuant to oral, written or implied Contracts
and Borrower's right to receive payment under subject Contracts wherein pay-
ment has not yet been fully earned, and in such case shall include all andllary
rights, including but not limited to the right do complete performance. and
thus determine the right to payment.
(c) The term "Proceeds" shall mean any and all cash or non-cash payments
made or to be made prior tio, at or after closing of a unit or other property by or
be made prior to, at or after closing of a unit or other property by or
on behalf of a purchaser on account of the purchase price and all other
consideration and sums due Borrower, under the terms and conditions
of a Contract, which term shall additionally include any interest thereon ~
and shall include any purchase money deposits made thereon .
(d) The term "20$ Deposit) shall mean any and all payments or de
posits made m Borrower on account of the purchase price of any indiv-
idual condominium unit of the Property by or on behalf of the purchaser
under a Contract therefor, which shall be equal to twenty percent -(20$)
of the actual sales price for each such individual condominium unit under
the terms and conditions of the Contract therefor.. (All Contracts . Con-
tract Rights and the Proceeds and 20$ Deposits thereof. and with respect
to the Property, shaII collectively be referred tD herein as "Collateral" -
(e) The term "Purchaser" shall refer to a purchaser under a Contract.
i . e a party who or which has agreed m purchase or receive a con-
veyance, transfer, or assignment of Borrower's interest in the Property
or any portion thereof under a Contract.
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