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construction financing, (ii) to provide for releases of
individual residential condominium units, the Club Facili-
ties and the Sewer Plant from the lien thezeof, (iii) to
otherwise restate, modify and supplement the Consolidated
Mortgage and (iv) to recast the indebtedness evidenced by
the Replacement-Note in the manner provided herein and in
the Second Replacement Note attached hereto as Schedule
B.
GRANTING CLAUSE
NOW, THEREFORE, the Mortgagors and Developer, in
consideration of the premises and in order to secure the
payment of the principal and the interest and any other sums _
payable on the Second Replacement Note and the Mortgage and ,
the performance and observance of all the provisions hereof
and of the Second Replacement Note, hereby give, grant,
bargain, sell, warrant, alien, remise, release, convey,
assign, transfer, mortgage, hypothecate, deposit, pledge,
set-over and confirm unto the Mortgagee, all their respec-
tive estate, right, title and interest, if any, in, to and
under any and all of the following described property (the
"Mortgaged Property") whether now owned or held or hereafter
acquired:
(i) the Premises;
(ii) the Improvements;
(iii) all proceeds of the conversion, voluntary or'
involuntary, of any of the foregoing into
cash or liquidated claims, including, without
limitation, proceeds of insurance and condem-
nation awards; and
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(iv) all rents, issues and profits and ali leases
~ of the Premises or the Improvements now or ~
~ hereafter entered into and all right, title ;
and interest of the Mortgagors and the
Developer thereunder, including, without
lfmitat•ion, cash or securities deposited
thereunder to secure performance by the
lessees of their obligations thereunder,
whether such cash or securities are to be
held until the .expiration of the terms of
such leases or applied to one or more of the
~ installments of rent coming due immediately
prior to the expiration of such terms,
including, further, the right upon the
happening of an Event of Default, to receive
and collect the rents thereunder.
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~ TO GAVE AND TO HOLD unto the Mortgagee, its
successors and assigns forever.
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~ ARTICLE 1
DEFINITIONS
1.01.- Defined Terms. The parties hereby agree
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