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Lucille V. Costa, individually, conveyed title to the Oceanview
Property to Oceanview, which conveyances were made subject to
the Lakeview mortgage and Oceanview mortgage respectively; and
G. Lakeview and Oceanview are the present owners~of
fee simple title to the Lakeview property and Oceanview
property respectively; and
8. The grantors in the deeds referenced in recital
F above and the said guarantors remain subject, directly or
indirectly to proceedings for relief under Chapter XI of the
Federal Bankruptcy Act in the United States District Court for
~ the District of New Jersey ("Bankruptcy Court" or "Court") as
E Case No. B-76-2704; and
I. The Lakeview mortgage and Oceanview mortgage
were, prior to the execution of this document, in default under
their respective terms and neither the said grantors thereof,
Lakeview or Oceanview have any setoffs, defenses or
counterclaims against Bankers or the amounts due thereunder;
and
J. The grantors under the deeds referred to in
~ recital F above, the said Guarantors and the receiver appointed
by the Court as receiver pursuant to the bankruptcy proceedings
f
described in recital• 8 above, being all of the parties having
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g~342 P~E1?34
M[RSNON, EAWTER, JOMNSTON, DUNWOOT i COLE,1600 sOUTMEAST IIRST NATIONAL SANK •UIlO1N0, MIAMI.I~ORIDA »191