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provided in said mortgages held by it or pursuant to law
as a result of such default. Notwithstanding the
provisions of Paragraph 24 of the original Lakeview
Mortgage dated March 20, 1974, Bankers' consent shall not
be required to withdraw contract deposits which relate to -
condominium units released by Bankers.
Bankers agrees to subordinate the lien of the
Lakeview Mortgage and of the Oceanview Mortgage, as the case
may be, to any easements for utilities, drainage or roadways
III (which roadways on the Lakeview Property may be transferred to
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the master association in fee) including, without limitation,
gas, telephone, electric lines and conduits, sewer and water
lines, lift and pumping stations, and to a declaration of
restrictions provided:
(a) No default shall exist under the Lakeview
Mortgage and no event shall have occurred which with
the passage of time or the giving of notice or both
would consitute a default under the Lakeview
- Mortgage;
(b) Such consents ace required in connection with
the development, use and enjoyment of the property in
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the manner shown on the site plan;
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