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ORDERED that the Debtor, OCEAN PARK ASSOC7AT1ON, INC. snd the
Receiver, be, and they are hereby authorized to execute and deliver ~ those
agreements modifying the agreements with the aforesaid Secured Lenders to the
parties entitled thereto and to execute aU Instruments and documents required to
be execufed by the provisions of said agreements, or necessary to effect the
provisions thereof; and It Is further
ORDERED that the assignment by U[~K GROUP CORP. to the following
identified entitles In accordance with the terms of the various contracts of
purchase and sale Is approved:
{1) Contract for Purchase of 70 Acre Parcel -The Sands Lake Vlew
Development, a Florida Partnership;
(2) Contract for Purchase of Ocean Front Parcel -The Sands Ocean Vlew
Development, a Florida Partnership;
(3) Contract for Purchase ~f St. Lucie Sewer Company - North
Hutchinson Services, a Florida Partnership; and .
(4) Contract for Purchase of The North Beach ~Va_
ter Company -North
Hutchinson Services, a Florida Partnership;
and It is further
ORDERED that the lien priority of the mortgages as modified concurrently
with the closing on the transfer of the 70.9 Acre Parcel and the Ocean Front Parcel
held by the Secwed Lenders is as follows:
70.9 Acre Parcel
, !st mortgage lien - Midlantic National Bank;
2nd mortgage lien -Bankers Trust Company;
3rd mortgage lien -Southeast First National Bank of
Ft. Pierce, formerly First National Bank of Ft. Pierce;
I
Ocean--F~owt-Fzrcel
1st mortgage lien Bankers Trust Company only;
and it is further
ORDERED that the form of the Purchase Money -Note and Mortgage
evidencing payment of the Purchase Price for the 70.9 Acre Parcel and the Ocean
Front Parcel be, and is hereby approved; and it is further '
ORDERED that the restraints Imposed by Orders in these proceedings
prohibiting mortgage foreclosure and/or enforcement by MIDLANTIG NATIONAL
~ BANK, BANKERS TRUST COMPANY, and THE SOUTHEAST FIRST NATIONAL
BANK OF FT. PIERCE, to the extent they encumber the 70.9 Acre Parcel and the
Ocean Front Parcel, shall be void u n the recur of the deeds conve In title to
Po ~8 Y 8
the 70.9 Acre Parcel and the Ocean Front Parcel to the purchasers thereof; that
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