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WHEREAS, Liberty Life Insurance Company,-a South
Carolina Corporation (hereinafter referred to as "Liberty
Life") is the owner and holder of a certain mortgage lien r
on the .Motel Property originally given by Saint Lucie
Enterprises, Inc., which mortgage was dated on or about
November 7, 1973, was-recorded at O.R. Book 220, Page 1953,
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of the Public Records of St. Lucie County, Florida, and
which mortgage holder has or will enter into a Forbearance
and Modification Agreement with Bears Nest, Iric., a New •
~ Jersey Corporation, and George A. Costa and Lucille V.
Costa, his wife, pursuant to which Liberty Life is agreeing
to forbear on certain immediate rights of enforcement under
the terms and conditions of its mortgage lien; and
IVHEREAS, as a condition to such forbearance,
Liberty Life desires to be assured of the fact that in the
event it ultimately enforces its mortgage lien and other
security interests as to the Motel Property, it will continue
to have uninterrupted sewage service from Company and has
requested that Company agree to provide such continued
service; and
WHEREAS, Liberty Life is and shall be relying
E upon the representations and agreements contained herein
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~ as an inducement to entering into the aforesaid Forbearance
and Modification Agreement; and
WHEREAS, Company is agreeable to confirming the
availability of continued sewage service to the Motel Property
pursuant to the terms contained herein; and
IVHERCAS, the undersigned George A. Costa, is the
husband of Lucille V. Costa, and in addition to being
a party to the said Forbearance and t~todification Agreement,
is also the managing officer of Company.
NOW, THEREFORE, in consideration of the foregoing, ~
TEN DOLLARS ($10.00) and other good and valuable considerations,
receipt of which is hereby acknowledged, Company agrees as
follows:
1. In the event Liberty Life succeeds in ownership
or operation of the Motel Property pursuant to the aforesaid