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are no offsets, defenses or counterclaims to the Mortgage, as
modified hereby, or to the indebtedness evidenced and secured
thereby; (3) that no bankruptcy or insolvency proceedings are
pending or contemplated by or against Mortgagor; and (4) that
this Agreement creates a valid and binding obligation in accord-
ance with its terms, and the execution and delivery hereof does
not contravene any contract or agreement to which Mortgagor is a
party or by which Mortgagor may be bound, and does not contravene
any law, order, decree, rule or regulation to which Mortgagor is
subject. ~
9. As long as Mortgagor is not in default under this
Agreement or the Mortgage, and as long as no fact exists which
but for notice and/or passage of time would constitute an event
of default under this Agreement or the Mortgage, Mortgagee agrees
to grant partial releases of the real property encumbered by the
Mortgage in accordance with and subject to the terms of the
Mortgage.
10. Except as expressly modified herein, all of the terms,
covenants and conditions of the Mortgage shall remain in full
force and effect and are hereby ratified and confirmed. ~ ;
11. This Agreement^shall bind and inure to the benefit of
each of the parties hereto and their respective successors and
assigns and may not be changed or terminated orally.
12. Mortgagor shall pay all fees and charges incurred in
connection with the making of this Agreement including, without
limitation, the fees and disbursements of Mortgagee's attorneys,
the fees and expenses relating to examination of title, any
additional title insurance premiums, surveys, recording fees, any.
Florida documentary, and intangible taxes which may be levied by
~ the State .of Florida in connection with this Agreement.
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13. Time is of the essence for the performance of all
terms, obligations and conditions hereof.
14. This Agreement has been made and entered into by the
parties hereto freely and voluntarily, with and upon the advice
of counsel,. and each party declares that this Agreement is made ~
in good faith and is in each party's own best interests.
15. Nothing herein contained or in any document relating to
the Mortgage nor the acts of the parties hereto shall be construed
to create a partnership or joint venture between Mortgagor and
Mortgagee. ~ F
~ 16. In an case an one or more of the
Y Y provisions of this
I Agreement shall be invalid, illegal or unenforceable in any
f respect, the validity of the remaining provisions shall in no way
be affected or prejudiced or disturbed thereby.
17. This Agreement may be executed in any number of counter-
parts, each of which shall be deemed an original but all of which
shall constitute one agreement.
18. This Agreement Shall be construed in accordance with
the laws of the State of Florida.
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IN WITNESS WHEREOF, this Modification and Extension Agree-
ment has been executed by the parties hereto as of the day and
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