HomeMy WebLinkAbout0653 . (g ) In the event of the failure of any one or more of the
foregoing conditions'~(a) through (f), or the failure of any other
covenant or condition necessary to effect this Agreement, then _
Liberty shall notify in writing Myron S. Lehman, Lehman & Wasserman,
225 Millburn Avenue, Millburn, N. J. 07041, as attorney for Bears
Nest and Costa of such failure. If such failure is not cured
within thirty (30) days immediately following the mailing date of
t
such notice, then the Accrued Sum, plus interest thereon, shall be
immediately due and payable in full, and Bears Nest shall pay same
within thirty (30) days (i.e. 60 days immediately following the
aforesaid mailing date) and do all other acts necessary to filly
reinstate said Mortgage, Note and Security Agreement. Upon failure
`to do so, Liberty may proceed without contest to fore-
closure judgment pursuant to the terms of Paragraph 10 of this
Agreement.
12. All of the parties hereto do hereby specifically stipulate
and agree to all of the terms hereof, and to the terms and conditions
of all other documents executed concurrently herewith. They further
specifically subordinate all of their interests of any nature whatso-
ever to the interest of Liberty under this Agreement and the said
Note, Mortgage and Security Agreement as herein modified.
13. Bears Nest does hereby personally guarantee the payment of
all amounts due hereunder and the performance of all covenants
hereunder and assumes the obligations created by said Mortgage, Note
and Security Agreement.
14. Each and every party to this Agreement and all guarantors
hereof hereby waive presentment, demand, protest and notice of .
dishonor and of protest, and assents to the terms hereof and to any
extension of postponement of the time of payment or any other indul-
gence. It is further specifically agreed that this Agreement or any
part of the principal or interest due hereon may be renewed or
extended from time to time by Liberty at the request of the then
owners of all or part of the security affected by the said Mortgage,
Security Agreements, or this Agreement or at the request of any
party bound hereon or who has assumed or may hereafter assume pay-
ment and performance hereof without the consent of or notice to the
parties bound hereon and without releasing them from any liability
then existing.
3~~K 320 P~~E 651
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