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HomeMy WebLinkAbout0419 covenant or condition of Said Note, Mortgage, Security Agreement or this Agreement. 8. Bears Nest and Costa, and each of them, hereby expressly acknowledge, covenant, and agree that the forebearance by Liberty as herein described is a benefit to Bears Nest and Costa and all other parties hereto, and to the guarantors of the original indebtedness, and is good and sufficient consideration for the agreement of Bears Nest and Costa to the terms, conditions and covenants herein set forth. Bears Nest and Costa, and each of them, specifically cove- nant and agree that no claim, suit, demand or action shall be made or instituted by them, collectively or individually, against Liberty in which either or both of them shall allege that they have been damaged or otherwise adversely affected by reason of the provisions of this Agreement. regarding any payments hereunder or covenants herein. 9. The provisions of Said Note, Mortgage and Security Agree- ment shall not be merged by the execution and delivery of this Agreement, but shall survive and continue in full force and effect notwithstanding the execution and delivery of this Agreement. 10. Bears Nest and Costa understand and agree that the neces- sary parties shall enter into all pleadings and documents necessary to abate the foreclosure action in the Circuit Court of St. Lucie, ~ County, Florida hereinabove described, pending full compliance with the terms of this Agreement and payment of all arrearages called for i hereunder. Upon the completion of the payment of the Accrued Sums called for herein, no other defaults then existing, the said suit shall be dismissed, without prejudice to refile a subsequent suit in the event of any subsequent default under the Said Note and Mortgage and Security Agreement or this Agreement. It is further specifically 5 understood and agreed that concurrently herewith the parties-shall execute all pleadings and other documents necessary to stipulate and agree in the aforesaid foreclosure action in~the Circuit .Court of ~ St. Lucie County, Florida to the abatement of such action pending compliance herewith and payment of the Accrued Sums as set forth herein. It is further stipulated and agreed that such pleadings and documents shall include admission as to the truth of all allegations ~ of the Complaint, and the representations of defendants contained B~OX~~O PAGE 4~.7 ' -15-