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excises, levies, license fees, permit fees, inspection fees
and other authorization fees and other governmental charges
and any liens of mechanics', materialmen and laborers for
work or services performed or material s. furnished in connec-
tion with the Project which are not due and payable or which
are not delinquent to the extent that penalties for non-pay-
ment may be assessed, or the amount or validity of which, '
are being contested in accordance with Section 3.07(c).
Permitted Txansferee: any partnerships, joint
ventures, corporat ons or trusts having the legal capacity
to hold title to real property under Florida law in which
Octavio Buigas, and/or his wife, and/or his lineal descen-
dants and their legal representatives collectively own
at least a f fifty percent ( 50$) of the legal and beneficial
interest thereof.-
' Phase: each of the seven (7) parcels comprising
the Premises as subdivided in accordance with the Prelimi-
nary Site Flans and identified thereon as Phase I through
Phase V, inclusive, and the Recreational Complex and the
Utility Area.
Preliminary Site Plans: the preliminary site
plans for the Project dated April 25, 1980 prepared by
Buigas & Associates, Architects, Inc. which have been -
initialed by the parties to evidence their consent thereto,
as the same may be amended from time to time with~the
written consent of Mortgagee, which such consent shall not
be unreasonably withheld. -
I
Premises: 'the land described on Schedule A
hereto, including all of the easements, rights, privileges
i and appurtenances thereunto belonging or in anywise apper-
{ taining, and all of the estate, right, title, interest,
claim or demand whatsoever of the Mortgagors therein and in
the streets and ways adjacent thereto, either in law or in
equity, in possession or expectancy, now or hereafter
acquired.
Project: the development of the Premises in
the manner shown on the Preliminary Site Plans, including
all on and off-site construction work shown thereon or
required to obtain final certificates of occupancy for each
of the residential units and the Club Facilities.
Purchase Agreement: the Agreement defined as such
in the Preliminary Statement, as the same may be amended or
mod ifil'd from time to time.
Purchase Mone Mort a e: the mortgage defined as
such in the Prel urinary Statement, as the same may be
amended or modified from time to time.
Receiver: the party defined as such in the
~ first paragraph of this Restated Mortgage, together with any
successor thereto duly appointed by the United States
District Court for the District of New Jersey.
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g~342 PA~E1675
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