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entities that have simultaneously herewith been identified
to Bankers as the group owning and controlling Lakeview,
Oceanview and Utility Company and primarily responsible
for the acquisition and development of the Lakeview
Property and Oceanview Property and whose presence and
involvement constitute a condition for the agreements made
herein and elsewtiere by Bankers with reference to the
modifications of the Lakeview mortgage and Oceanview
mortgage and the modification and reinstatement of the
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III Note.
f (b) That Lakeview intends to develop the Lakeview
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Property (the "Lakeview Project") by dividing it into
seven (7) separate parcels and to develop five (5) such
parcels by constructing thereon residential condominium
units and other improvements, to develop one (1) such
parcel by the constructing thereon recreational facilities
and to improve the existing sewer treatment plant situated
on the remaining parcel, all as shown on the Preliminary
- Site Plans prepared by Buigas & Associates_ArchitECts,
Inc., and referred to herein as the "Lakeview Site Plan",
which plans have heretofore been approved by the
appropriate authorities in and far St. Lucie County,
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Florida. Lakeview further represents and warrants that it
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MEASNON, sA1MYER, JOMNSTON, OUNWODY b COLE.Id00 SOUTM[AST /IAST NATIONAL oANK dU1LO1N0, MIAMI, fIONIDA ~~131
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