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MEMOR,P~IDUM OF GROUND LEASE AND
CERTIFICATE OF GOOD STANDING
In order to induce Liberty Life Insurance Company to enter }
into a.Forebearance and Modification Agreement concurrently here-
with, the undersigned, LUCILLE V. COSTA, Lessor and Owner, and
BEARS NEST, Lessee, respectively, under that certain Ground Lease
dated October 25, 1972, covering the "premises" known as "Ramada
Inn-Oceanside", St. Lucie. Florida, as more part-icularly described
in said Lease, a copy of which is attached hereto as Exhibit "A",
~iEREBY COVFNAIvT, REPRESENT AND AGREE :
1) That Lucille V. Costa o~ms the- entire fee
{residuary) interest of said "premises";
Ground
2) That this is the only/Lease affecting said
premises;
3) That there are no defaults under said Lease
as of the date ~ereo~;
4) That any and all prior defaults are hereby,
by the Lessor and Lessee each to the other,
irrevocably waived; .
5) That Bears taest is the Lessee pursuant to an
assignment dated September Z5, 1975, a copy
of which is attached hereto as Exhibit "B",
and that Bears Nest is fully liable for the
performance of all the terms and covenants
of said Lease; and that Lessor has consented
to said assignment, anything contained in
said Lease to the contrary notwithstanding.
6) That not riore than one month's rental has been
paid or collected in advance under said Lease;
7) That said Lease is in full force and effect;
the initial term commenced on December 1, 1973
and will terminate December 1, 1993;
8) That said Lease has not` been modified, changed,
altered or amended in any respect except as
follows: NONE
Lessee further certifies that the demised premises, including
all improvements and appurtenances as required by the Lease, have
been accepted by Lessee.
It is understood that Liberty Life Insurance Company will
rely upon this Certificate in entering that certain "Forebearance
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