HomeMy WebLinkAbout1643 BANK OF FT. PIERCE (hereinafter referred to as the Secured Lenders), dealing
with modifications of their respective mortgage Dens and payments to be made
thereunder; and It further appearing that In accordance with the terms of art Order
entered AprL ~8, 1980, authorizing the sale of the Debtors' Property consisting of .
70.9 acres (hereinafter referred to as the 70.9 Acre Parcel) and 1100 feet of ocean-
front property (hereinafter referred to as the Ocean Front Parcel) and The North
Beach Water Company and The St. Lucie Sewer Company, all located In Ft. Pierce,
St. Lucie County, Florida, as it is supplemented by a Supplemental Judgment for
Transfer of Real Property located Tn St. Lucie County, Florida, dated October 9,
to be
1980, and as said April Z8, I980, Order is Jsupplemented by an Order ~
approvlrAg certain modifications of the Agreement for ~
Purchase and .Sale of the 70.9 Acre Parcel and the Ocean Front Parcel, that the
agreements eoneernin~g the Secured Lenders whose .mortgages encumber all or
portions of the 70.9 Acre Parcel and~or the Ocean Front Parcel be submitted to ~
this Court for approval upon consent of the attorneys for the Receiver and the
Creditors' Committee, and the Court being satisfied that the documents are In
proper order and that the attorneys for the Creditors' Committee and the Receiver
have consented to same by annexing said consent .to this Order and good cause
appearing for th-e making of this -Order, It is on this ~ day of 1980, on
motion of Lehman do Wasserman, as attorneys for the Debtors herein,
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ORDERED that the documents annexed to the application for this Order, a s
list of same being attached hereto, consisting of (a) written agreements between
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Debtors and OCEAN PARK ASSOCIATION, INC., one or more of the assigns of
UN1K GROUP COUP. and the various Secured Lenders, as the case may be, to-wit: ~
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MIDLANTiC NATIONAL BANK, BANKERS TRUST COMPANY and THE i
SOUTHEAST FIRST NATIONAL BANK OF FT. PIERCE, (b) the form of the
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Purchase Money Mortgages and Notes to be executed by the purchaser, be, and the
same is hereb oved• and It Is further
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ORDERED that the Debtors, OCEAN PARK ASSOCIATION, 1NC. and the ~
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Receiver, be, and they are hereby authorized to execute and deliver those ~
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agreements modifying the agreements with the aforesaid Secured Lenders to the
parties entitled thereto and to execute all Instruments and documents required to
be executed by the provisions of said agreements, or necessary to effect the }
provisions thereof; and it is further ~
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80~~~ P86Ei~~
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