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to any extent vary the risks of any of the !fakers hereunder,
(1) any event or circumstance which might otherwise con-
stitute a legal or equitable discharge or defense of any of
the Makers under this Second Replacement Notet or (m) any
other cause, whether similar or dissimilar to the foregoing,
it being the intention of the Makers that their respective
obligations under this Second Replacement Note shall be
absolute and unconditional and that each of the Makers
hereunder shall only be discharged by the payment in full of
all sums due and payable hereunder and under the Mortgage. ~
Bach of the Makers hereby waive any and all
demands, notices and advertisement whatsoever, whether of
protest, presentment, demand for payment, nonpayment, sale,
adjournment of sale or otherwise,. to which each may be
entitled hereunder, under the Mortgage or pursuant to any
provision of law and, further, waive any request that Payee
first make demand upon or seek to enforce remedies against i
any or all of the other Makers or by other persons or the
Mortgaged Property, as such term is defined in the Mortgage,
before demanding from, or seeking to enforce, this Second
Replacement Note Agreement against any of the Makers.
The liability of the Makers hereunder shall be s
joint and several. By acceptance of this Second Replacement
Note the Payee acknowledges and confirms the provisions of
paragraph 7.01 of the Mortgage and agrees that, as and to
the extent provided in said paragraph, this Second Replace-
ment Note is non-recourse as to The Sands Lake View Develop-
went and others described in paragraph 7.01 of the Mortgage.
The laws of the State of Florida (including the
conflict of laws rules) shall govern the rights of the
Makers and the holder hereof with. respect to this Second
Replacement Note, and this Second Replacement Note shall be
governed and construed in accordance with such laws.
IN WITNESS WBEREOF, each of the Makers have
executed and have caused this Second Replacement Note to be
duly executed and delivered under seal this day of
November 1980. '
Attest: T8E SANDS LAKE VIEW DEVELOPMENT
By: T8E SANDS LAKE VIEW DEVELOPMENT
CORPORATION, a Florida
corporation (gener_al partner
of The Sands Lake Development)
j
ey
Secretary President
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