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and sewer companies servicing the motel, (ii) the good standing
under applicable Florida law of such companies (proprietorships)
(iii) the power and ability of each such company to continue to
provide such service, and (iv) the binding effect on each such
company of the Agreement with Liberty to continue to provide water
and sewer service in the event of (or during) foreclosure and/or
subsequent ownership of the motel property by Liberty or its succes-
sors or assigns; also, all corporate resolutions or affidavits
required by Liberty of any of the parties or corporations as afore-
said, including the guarantors, a Certificate of Good Standing
effective as of the date of this Agreement from Lucille v. Costa and
.Bears Nest, waiving irrevocably any and all defaults now existing or
heretofore occurring under the ground lease, and certifying said
;ground lease to be in good standing and fully subordinate to Said
Mortgage, as herein modified, and the covenants herein contained,
and such other opinions of counsel for Costa that may reasonably be
required by Liberty.
7. It is specifically agreed and understood by all parties
hereto that this Agreement is an agreement by Liberty to forebear
from immediate enforcement and foreclosure of its rights under Said
Mortgage, Note and Security Agreement held by it and that it is in
no sense a novation or new agreement between the parties and that
all covenants in addition~to those contained in the original Note,
Mortgage and Security Agreement are as additional consideration for
said forebearance. It is further understood and agreed that said
~ forebearance is subject to strict and literal compliance with the
i
terms of this Agreement by Costa and Bears Nest and that this fore-
bearance shall not estop Liberty from taking any action permitted
~ under Said Note, Mortgage and Security Agreement in the event of
any other subsequent default which may hereafter occur under the
terms of Said Note, Mortgage or Security Agreement, or by reason of
the failure of Costa or Bears Nest to fully comply with the terms
and provisions of this Agreement. It is further understood and
agreed that a violation of the terms and conditions of this Agree-
ment by Costa or Bears Nest will constitute a default under this
Agreement and under the original Note, Mortgage and Security Agree-
ment, as herein modified. This forebearance is an accommodation to
Costa and Bears Nest, and is not and shall not be deemed to be a
waiver by Liberty of its rights and power to assert each and every
right accorded to Liberty under Said Note, Mortgage and Security
Agreement upon the occurrence of any subsequent default of a term,
a~~K 320 PacE 647
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