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to any prior owners of such facilities nor~in
repayment in whole or part of any of the existing
mortgage liens on such facilities or the utility
area. As additional security, Lakeview represents
• and warrants that no third parties have any rights or
options, conditional or otherwise, to acquire oc
reacquire the sewer plant, except as may be provided
in the mortgages referenced herein that encumber the
sewer plant, in the event of a foreclosure thereof.
~ (f) Bankers shall be satisfied that in the event the
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~k construction lender or its assigns or designees
acquires title to the sewer plant by foreclosure or '
deed in lieu thereof that its or their interest
therein shall be subject to all agreements for water
and sewer service for the Lakeview Property and
Oceanview Property. Furthermore, provided conditions
~ (a) through (f) above have been satisfied., Bankers
agrees that it will release the sewer plant from the
~ - lien of the Lakeview mortgage when (i) the first unit
in stage one of-the Lakeview Property shall have been
~ released from the Lakeview mortgage and (ii) the
` Midlantic mortgage and Costa Lakeview mortgage shall
have been or be concurrently released therefrom
without monetary considerations. ~
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M[NiMON, iAYVr[R, JOMNSTON~ OUNWOOY i GOL[, Id00 s01JTNEAiT FIRST NATIONAL HANK NUIIOINO. MIAMI, IlOR10A »I~I
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