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interest in Lakeview and/or resulting in Octavio Buigas
and his immediate family owning and controlling less than
fifty percent (50$) of the legal and beneficial interest
in Lakeview and/or Octavio Buigas shall not remain
actively involved in the management of Lakeview, without
the prior express written consent of Bankers then the same
or either of same shall constitute a default under the
Lakeview mortgage. It shall not constitute a default
~ under the Lakeview mortg age if Octavio Buigas shall not
I! remain actively involved in the management of Lakeview if
~ such failure is due to his death or mental or physical
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incompetence provided the successor management of Lakeview
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is consented to in writing by Bankers, which consent shall
not be unreasonably withheld.
6. Oceanview represents and warrants to Bankers and
agrees that:
~(a) The Oceanview property is not encumbered by any
mortgage other than as provided in the Oceanview mortgage
except for the lien of that certain purchase money-second
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mortgage given by Oceanview to Lehman and Wasserman, a
professional corporation, to secure a portion of the
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~ purchase price of the property, which mortgage will be
recorded in the Public Records of St. Lucie County,
-20- c~
BOOKJ4~ PdGE~75~ ~
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p M[I1fMON, 1AMY[R, ~ONNSTON, OYNMOD? • COL[, 100 /II~~T NATIONAL •ANK ~YILOINO, MIAMI, /L0111DA