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HomeMy WebLinkAbout0592 1 a ~ i occurs. Thy Forebearance Ayreement, and the note and mortgage, . _ y and the nets second mortgage shall be cross-defaulted and failure to _ pay the taxes as aforesaid shall constitute a default and shall enable Liberty to proceed to foreclose. 4. The title company must approve the transaction, as set forth in the documents as modified at the closing and issue its - title commitment. 5. Sarry.Sirota is to furnish to Liberty Life Insurance ~,x`~ A Company, Nlithin ten days after 26 July 1979,~hazard insurance policy, proof of payment of premium for one policy year. ~ ~ 6. The life insurance policy, conditionally assi,ned, is to be delivered to Liberty Life. 7. The changes to the documents made at closing must be approved by St. Lucie Enterprises, et al. F 8, f'1s provided ~n the Forebearance and Modification Agree- mert, the Circuit Court of St. Lucie, Florida, must approve the entire trans,,ctio~, the Stipulation of the parties, and issue its Order providing ghat upon tl~e occurrence of a subsequent default, Liberty sha]1 be free to foreclose as provided in sa;d Forebearance and Modification Agreement. 9. F3arry Sirota is to secure complete execu,~ ions of thr~e ~ documents and return them to Harold Friedmara~' 'Said document`s are ` ~ t{~•1: Addendum to Service Agreement; Addendum to Forebearance and t4odifi- cation Agreement and the Stipulation in the foreclosure action. The undersigned understand and agree that each of the foregoing ;tatters, ~•~hether or not enumerated in the Forebearance and t•~odifica- tion Agreement, are conditions precedent to Lhe effecting of the n _ ~ 3~JOK J~ Pdl;~ 5~